Call it the fallout of Competition Commission of India (CCI) penalty on the biggest real estate company DLF in a Gurgaon case last August, there has been a rush of complaints at the CCI against several property majors since then. According to CCI officials at least 200 complaint letters came to them against real estate players, of them around 15 were official cases.
SARE Homes (South Asian Real Estate) is launching “Green ParC – II”, the fourth phase of its 65-acre integrated township called “Crescent ParC” in sector 92, Gurgaon. This township is strategically located on the Gurgaon growth corridor, on the arterial 60-meter wide road, approximately 40 minutes from the IGI Airport and in close proximity to the Dwarka & KMP expressways, and the industrial hub of IMT, Manesar.
Mumbai’s residential home sales dropped to a three-year low in the quarter ended December as record home prices and higher interest rates crimped demand, according to Liases Foras Real Estate Rating & Research Pvt.
The demand for holiday homes in India is as wired into the country’s overall economic performance as every other segment of residential real estate.
Maharashtra Chief Minister Prithviraj Chavan on Tuesday, Jan 4, announced amendments in the Development Control Rules (DCR) of Mumbai; The Maharashtra Chamber of Housing Industry (MCHI) has welcomed the same.
Forget Mumbai which has been in the news for record dip in the property transactions. It is the Delhi-NCR that tops the list for unsold homes.
At a time when interest rates on home loans are hovering around 11-14 per cent, realty firm BPTP has joined hands with private sector lender HDFC to finance new purchases of houses at just 5.99 per cent for a limited period till December 31.
The NCR unit of CREDAI has given some relief to the home buyers of Noida Extension by directing all developers to not charge any interest on pending EMIs.
If the current economic conditions have proved nothing else, they certainly prove that investment in Indian residential real estate is impossible to write off, ignore or find an alternative to.
Welcoming the “balanced” decision of the Allahabad High Court to quash land acquisition in three villages in the Noida, Greater Noida and Noida Extension, CREDAI claims that home buyers will not be affected by the ruling.