Track2Realty-Agencies: State-run construction giant National Bildings Construction Corporation (NBCC) says it plans to aggressively tap the real estate market and has set a target to build 10,000 housing units by 2018, entailing an investment of about Rs 6,000 crore.
Track2Realty Exclusive: The RBI needs to put its act together before its next monetary policy review on July 30. In the wake of sluggish pace of economy, the Reserve Bank’s status quo on key policy rates in its last monetary policy sent a wave of disappointment in the industry.
Track2Realty: In the latest phase of the company’s growth in India, Cushman & Wakefield has expanded operations in Kolkata and acquired the entire team of Lemongrass Advisors, a well-respected real estate consultancy firm in Kolkata and Eastern India.
Track2Realty: The Lok Sabha on Thursday night, Aug 29, okayed a new farmer-friendly land acquisition Bill that promises to address landowners’ concerns as regards relief and rehabilitation. A last-minute division of votes forced by the Trinamool Congress saw 216 members voting in its favour and 19 against it.
Track2Realty: Citing the inordinate delay in obtaining approvals for projects that is stalling growth of the real estate sector and also the economy of the country, Lalit Kumar Jain, Chairman CREDAI and CMD, Kumar Urban development Ltd, urged the Union Government to form a high power realty committee to accelerate big ticket realty projects worth between Rs.200 Cr and Rs.1000 Cr.
Track2Realty-Agencies: India will kick-start a number of new infrastructure projects including 8 new airports and two new sea-ports in the coming months to boost sluggish economic growth, Prime Minister Manmohan Singh said on Thursday, Aug 15.
Track2Realty: The Real Estate (Regulation and Development) Bill was finally tabled in the Rajya Sabha on Wednesday, Aug 14, by Minister of Housing and Urban Poverty Alleviation Girija Vyas.
Track2Realty-Agencies: The realty sector can more than double its contribution to GDP to 13 per cent by 2025 on rising housing demand, if the government removes bottlenecks in infrastructure, lowers borrowing cost and makes process of approvals shorter, global property consultant CBRE said.
Track2Realty Exclusive: That small builders and fly-by-night operators in the business are the reason why the government is so concerned with the misleading advertisements. Often they advertise the project launch without even getting the mandatory license and in some cases home seekers hard earned money is lost.
Track2Realty Exclusive: In India the regulation bill has been contemplated for a few years, but it is only now being actively pursued through multiple rounds of industry consultation. As a tool to drive this initiative, the Ministry of Housing and Urban Poverty Alleviation (HUPA), has drafted a regulation bill laying down the necessary provisions to set up a regulatory body, defining its powers and functions, responsibilities of the developers and penalties for violations and RICS appreciates the initiative to further improve upon and facilitate a smoother introduction of the regulatory authority within the purview of the revised regulation bill.