As per Colliers Research, RERA and GST compliance will remain a challenge for several developers for at least the next six months. We expect a decline in the number of launches in H2 2017. However, the sales are likely to pick up during the festive season due to higher optimism among buyers after RERA.
The MMR was notified in 1967, in an effort to address the rising problems faced by inhabitants. More areas were also included in the region and today the MMR covers Greater Mumbai, Thane, Kalyan and Navi Mumbai, apart from several more towns and villages. Over the years, property price rise has been astronomical in the original core parts of Mumbai.
What has also fuelled this inventory creation is the fact that the Centre recently gave infrastructure status to smaller homes. This will help builders get funds easily and also give them more time of five years from the current three years to complete the projects.
If one has to ask a homebuyer about his dream wish list, one would ask for few things like getting what one can see, carpet area that could be measured, no hidden cost and, last but not the least, no extra tax. Now it seems these fancy wishes would be true with the Goods & Services Tax (GST) if only one would go for a ready to move property.
Coimbatore has today all the pre-requisite fundamentals of a lifestyle city that is high on the wish list of the corporate sector and the young professionals. The best part is that this development has happened in the last few years when the market conditions otherwise have been bearish; something that suggests the wave of change is here to stay.
Welcome to Noida reality! Contrary to the dynamics of property market where lesser transactions lead to skyrocketing of rental values, in Noida this conventional wisdom of market does not hold true. Noida, as a matter of fact, is a classic case in contrast where the supply is huge, transactions are less and the rental values are the lowest. Reason: imbalance of demand & supply in the same catchment area.
The top 8 cities witnessed residential launches of approximately 25,800 units in the first quarter of 2017 and registering a 16% decline from the corresponding period last year, says a report by Cushman & Wakefield.
A closer look at the sales methodology of the developers suggests while they exaggerate some USPs of the project, they very smartly conceal the information to make their offer look very lucrative to homebuyers.
Largely viewed in the collective consciousness as the most affordable market of Delhi-NCR, probably the authorities did no justice to this market by positioning it as yet another micro market to supplement Noida and Greater Noida. More than the controversies and the litigations, the positioning of the market has been a challenge.
Are the CBDs really losing out as the benchmark of economic activity in the major cities of India? Well, if only Gurgaon business destinations as against Connaught Place or Nehru Place in Delhi-NCR are any indication, or if only BKC and Navi Mumbai as against Nariman Point in Mumbai is any indication, then the CBDs have lost a significant ground by all means of reputation and economic scale.