CREDAI urges single window clearance
The Confederation of Real Estate Developers’ Association of India (CREDAI) Friday urged the central government to introduce single window clearance and a uniform tax structure for the sector across the country.
Search Results: approval process (192)
7 years of RERA; 7 unaddressed questions
It was conceptualised to clean the opaque ecosystem of Indian real estate; was touted to be the biggest reform of the sector; and expected to enhance the home buyers’ confidence index. But seven long years after the enactment of the Real Estate Regulatory Authority (RERA), it has still not evolved as a stamp of trust for the harassed home buyers. RERA’s tryst with trial & error has not only dented the confidence of the home buyers but also lent credence to the perception that complaint with RERA rather gives an edge to the builders. After all, RERA has been relegated to be the balancing act for both the builder and the buyer. A Track2Realty analysis.
How to make housing more affordable?
No one has got a clear answer to the core of the problems and every industry stakeholder has his own point of view. However, the economies of scale suggests it definitely helps the developers to undertake cost-effective measures since material procurement happens at a group level. This gives large developers an advantage over other smaller developers and projects. Also, the duration of construction has an impact on the cost. The developers must ensure the completion of projects on time, which could help us sell the properties at a faster pace and keep the cost under control.
Legal safeguards for home buyers against Unfair Contract
Isn’t it ironic that in a country where the number of unsold housing units is skyrocketing, the business of real estate continues to be a seller’s market? Contrary to the developers’ influence peddling that the housing market is by and large a buyer’s market now, the fact lies that the developers continue to take the buyers for a ride. The developers’ exploitative practices are not limited to the delay of the project, but also default in delivering the promised amenities, and, most glaringly, with one-sided unfair contract. Track2Realty explains the options before the home buyers.
RERA Satisfaction Index pretty low across India
The home buyers have for long alleged that the RERA has failed to provide them substantial relief in the wake of project delay or defaults. Now the Allahabad High Court has also taken cognizance of the issue and has not only questioned reasons of non-execution but also asked for the roadmap as to how RERA Recovery Certificates would be executed.
Union Budget 2022 lacked fresh ideas; “U Turn” by realty players
Tracking the sentiment is not that easy in the business of Indian real estate. There is no ideal predictive model that could assess the sentiments of both the developers as well as the buyers. The leading voices of the sector has never been very consistent with their budget wish list and the post budget customary note. The most important stakeholders, the home buyers, are more often than not completely ignored when it comes to sentiment assessment post the Union Budget.
Will Covid-hit 2021 lead real estate into Tier II cities?
The cost of doing business per square feet has always been challenging in the top 10 cities of India. The ever increasing migration for jobs in these cities have made the housing affordability even bigger challenge. Critics are not cynical when they question as to what extent and till when these cities will continue to be filled up like a soda bottle. Aren’t our metro cities on the verge of a population blast? Come 2021 and Track2Realty analysis believes the infamous Coronavirus in a strange way has shown the way forward.
Legal due diligence in property purchase avoids future litigation: Advocate Devesh Ratan
Devesh Ratan: A lawyer who is exclusively representing you will only look at your interest. A broker has to charge his brokerage from both the parties; he will never say this property has this deficiency, or the papers that you are signing is fixing your liability. For example, many developers put it in their Agreement Form that if they delay the project they will only pay INR 5 but if the buyer delays the payment he has to pay at the rate of 10-15. Only a lawyer can tell you this kind of liability is wrong and it should be negotiated upon.
Home buyers’ options when a distressed property gets new builder
Today, there are lots of distressed properties in the market where merger and/or takeovers are happening. While it makes sound business sense for both the builders of stressed assets as well as the one having capital to invest, the home buyers with little elbow room to negotiate are often at the receiving end of such market transactions that look promising as an outside view. Ravi Sinha explores the legal options for the home buyers.
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.