Track2Realty-Agencies: RBI has asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of “innovative” housing financing schemes.
Track2Realty: DLF Ltd has signed definitive agreements to sell its 74% equity stake in its the Life Insurance Joint Venture – DLF Pramerica Life Insurance Company Ltd, a joint venture with Prudential International Insurance Holdings Ltd (“PIIHL”), a subsidiary of Prudential Financial, Inc USA “PFI” to Dewan Housing Finance Corporation Ltd (“DHFL”) & its group entities.
Track2Realty Exclusive: Administrative Reforms
A. Single window clearance for building approval.
B. Uniform and simplified building permissible rules.
C. No discretionary stoppage of work after granting approval for commencement without hearing by regulator/civil court.
D. Mindset reform; special campaign for political leaders and bureaucrats to support/accelerate growth, remove impediments.
E. To put mandatory block mentioning following in every order/permission, Date of application, Potential investment, Potential contribution to GDP in rupees, Potential new employment generation, Date of sanction, Number of days delay beyond permissible limit, reasons.
Track2Realty: When the Reserve Bank of India made the announcement of allowing External Commercial Borrowing (ECB) in affordable housing, including slum redevelopment, there was an optimism and euphoria that cheaper money coming into the much-needed segment of real estate would redefine the property market in general and in the process help the country meet the housing shortage.
Track2Realty Exclusive: Integrated township in the Indian context is a baby that everyone was expecting with their own set of expectations. And hence, within a decade the term was so over-used that it lost its relevance. Any and every mixed land use was projected as an integrated township and it often lacked the basic DNA of affordability, convenience, lifestyle and walk-to-work. As a matter of fact, Trck2Realty noted township projects were also conceptualized by many as safe investments in India at a time when funds were on the look out to deploy and developers needed more projects in the kitty to bag that.
Track2Realty: The newly elected leadership of realtors apex body CREDAI has embarked on a multi-pronged agenda to work closely with the various governments with focus on affordable housing, green buildings and water harvesting and skill development among construction workers.
Track2Realty Exclusive: The capital city is witnessing a face lift with various infrastructural initiatives, increasing prominence of satellite towns and emergence of new business districts. The Master Plan 2021 aims at making Delhi “a global metropolis and a world class city” for which necessary initiatives are being undertaken by both the Government and the private sector.
Track2Realty Exclusive Yearly Analysis: Real estate prices have stayed stagnant in 2012 in Mumbai with a mere 0.3 per cent increase in rates, a research report by Knight Frank says. Figure show that real estate sales have been falling by around 25 per cent year after year since 2010 because of high prices.
Track2Realty: Responding to Finance Minister P Chidambaram’s suggestion for reducing the price of housing stock, Confederation of Real Estate developers’ Associations of India (CREDAI) has asked its 8,000 plus members across the country to seriously consider the proposal to sell in maximum numbers.
Track2Realty: MCHI-CREDAI property expo kick started on Thursday, Nov 1, at BKC grounds, Mumbai, featuring over 15,000 properties with over 120 developers participating. Axis bank is the co-organiser of the exhibition.