Track2Realty-Agencies: The Union Cabinet today deferred considering a draft law to set up a regulator for the real estate sector with provisions for jail term for the developer for putting out misleading advertisements about projects.
Track2Realty-Agencies: The proposed bill to regulate the real estate sector seeks to establish a transparent system of delivery and would not hamper the growth of the sector, a top government official has said.
Track2Realty: A reported provision in the proposed law to regulate the real estate sector to send individual or an entity to jail for “misleading” advertisements would be quite a retrograde and adversarial step for investment in the realty sector as it would be open to misuse by a few corrupt officials, ASSOCHAM said on Friday, March 29.
Track2Realty-Agencies: In a move aimed at providing a major fillip to the construction sector, the Centre is likely to come up with a ‘single window’ system for the country’s real estate sector soon, Union Minister for Housing and Urban Poverty alleviation (HUPA) Ajay Maken said in New Delhi on Sunday, March 24.
Track2Realty-Agencies: Government plans to set up a tough regulator for the real estate sector with provisions for even jail term for the developer for putting out misleading advertisements about projects.
Track2Realty Exclusive: With the number of approval-oriented steps adding up to more than 50, the process can stretch over a year and a half to two years. A system that is so obviously fraught with hurdles and red tape will naturally deter potential builders of integrity.
Track2Realty Exclusive: A marginal rate cut/hike time again evokes reactions across the industries and the blame game continues where the Reserve Bank of India (RBI) defends its balancing act of controlling inflation and the industry captains slam its short term outlook of stop gap arrangement.
Track2Realty Exclusive: Analysis of South Zone (Bangalore)
Retail leasing activity in Bangalore remained active through 2012 due to the opening of a few malls particularly in the Whitefield micro-market. Apart from the stable leasing activity seen through the year, space enquiries from retailers during the period point to the fact that a number of them remained bullish on their medium to long term prospects due to the increasing affluence of the growing middle class.
Track2Realty Exclusive: Compared to other countries in Asia, India still lags behind on the transparency parameter. But we are increasingly scaling up with the data availability for the retail and residential sectors improving across all tiers led by the fast-paced development of the residential sector and modern retail formats.
Track2Realty-Agencies: Real estate players and analysts on Tuesday welcomed the Reserve Bank’s move to cut short-term lending rates, but said that more such steps are needed to bring growth back to the sector.