HC gives UP govt, farmers time till Aug 12 for out-of-court settlement
The Allahabad High Court on Tuesday, July 26, referred all the cases of land acquisition in Noida and Greater Noida (Gautam Budh Nagar) to a larger bench for its final decision.
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CREDAI asks developers to move Supreme Court
The Confederation of Real Estate Developers’ Association of India (CREDAI) has asked builders, whose projects in Patwari have been affected by the high court order, to move the Supreme Court.
Amrapali to refund entire amount; Supertech seeks legal opinion
Real estate company Amrapali, which has been worst affected by the Supreme Court judgment regarding land acquisition in Greater Noida, today said it is refunding the entire amount to home-buyers who have opted out from its township in the area.
Paramount Group to come up with IT Park in NCR
Paramount Group is coming up with IT Park in the NCR. The project spread over 25 acres has been allotted by Greater Noida Authority at Knowledge Park 6.
Use solar energy with bay window concept
Designing a home with new innovations and concept which touches life everyday is always an attraction among people, and that many new concepts have been introduced in the area of Real Estate & Construction which provide a feel of luxury and comfort.
Average rents across all the top six office markets have breached pre-pandemic levels in 2024
In the post-pandemic era, demand recovery in the office market has been swift, following a steep ‘V-shaped’ recovery trajectory. After subdued demand in 2020 & 2021, leasing activity had fully bounced back by 2022. In fact, since 2022, each year has been witnessing new all-time-high Grade A office space uptake at India level. With strong, consistent demand, average rentals have also surpassed the pre-pandemic levels (2019) across all the six major office markets for the first time in 2024. The rental recovery in the Indian office market, albeit relatively slower than the demand recovery trajectory has finally been fully complete, thus forming an elongated ‘U-shaped’ pattern.
Home buyers’ satisfaction index still low after 7 years of RERA: Survey
As RERA (Real Estate Regulatory Authority) is close to its 7 years of completion, the home buyers across the nation have more to complain than compliment with what was supposed to be a game changer legislation. The buyers rather question as to RERA has been enacted to serve whose purpose. Most of the home buyers across India’s top 10 cities point out that the ground realities have not changed for them. A vast majority of them feel it has opened another window of litigation and thus hurts than helps the buyers. Issues range from lack of transparency to accountability, and existing market realities to consumer interface.
RERA doesn’t evoke confidence of the homebuyers
Projects worth INR 4,64,300 crore for a total of 575,900 units are already significantly behind schedule. These 5,75,900 units have been stuck since 2013 or before. However, what is even more disturbing than these staggering number is the fact that in many of the states RERA has been diluted to the extent that it allows the erring developers with the existing projects to get away with the fault lines.
Escalation fears misplaced, input materials might be cheaper: Amit Modi, Director, ABA Corp
Lockdown is not a new reality for the developers across India, and more particularly in the Delhi NCR region. The NGT construction ban, often for months together, has hampered the execution cycle of the business. However, the comprehensive lockdown due to Coronavirus could multiply the woes of the business with supply chain hurdles leading to cost escalation, labour migration and the job losses in the market leading to standstill sales and even foreclosures. However, Amit Modi, Director of ABA Corp who is also a known face of CREDAI in this part of world thinks otherwise. In an exclusive video conferencing with Ravi Sinha, he feels some of the input costs might come down to clear the material inventory in a competitive market.
Dwarka Expressway hit by delays & legal issues
The Northern Peripheral Road (NPR), also known as Dwarka Expressway, is an 18-km stretch of road that is being developed under the public private partnership (PPP) model. This stretch will connect Dwarka Phase II and Palam Vihar to National Highway 8 near Kherki Dhaula and Pass Pataudi Road. This is a highly lucrative project that has been taken up by the Haryana Urban Development Authority (HUDA).