With the three-day property expo “Homethon 2022” commencing from Friday, SWEETY ADIMULAM speaks to National Real Estate Development Council’s (NAREDCO) state president SANDEEP RUNWAL, about what the expo has to offer for buyers and the sector’s expectations from the state government.
Developers have made a demand to the Maharashtra government to provide either a complete or partial waiver in stamp duty payment to boost sales of real estate in the state.
Housing sales are likely to be affected as home loans will become costlier after the RBI's latest hike in repo rate, but builders hope that pent up and festive demand will negate any major impact on buying sentiment.
Antara Senior Living, part of the $4 billion Max Group and wholly owned subsidiary of Max India Limited, on Thursday announced the sale of over 300 units at its second senior living community in sector 150, Noida- a project that adds to the unit's larger aim of addressing lifestyle and lifecare needs of seniors.
All legacy dumpsites containing 16 crore metric tonnes of waste, and occupying 15,000 acres of prime land, will be remediated within the Swachh Bharat Mission (Urban) 2.0. period under the 'Lakshya Zero Dumpsite Challenge', Minister of Housing and Urban Affairs Hardeep Singh Puri said at the inaugural event of Swachh Shehar Samvad and Tech Exhibition held in the Capital on September 29.
Amid the news about Noida’s “twin towers” tumbling down and China’s imminent housing market collapse, we spoke to Snehil Gautam, Chief Growth and Marketing Officer, Housing.com, Makaan.com & Proptiger.com, who came across as quietly confident that the Indian real estate industry was entering a bull phase, after a long bear run.
Residential sales have continued to show robust growth while registering sales of 83,220 units, a 49% YoY growth between July-September 2022 as compared to 55,910 units sold in the corresponding period last year, according to a report by REA India-owned online real estate platform PropTiger.com.
With the festive season on the doorstep, real estate companies are offering a multitude of gifts, from gold coins, cars, iPhones, and club membership to foreign trips to attract homebuyers.
As widely expected, the Reserve Bank of India (RBI) hiked the repo rate for the fourth time in a row by a further 50 bps to 5.9% in its bi-monthly policy meeting on Friday – a move which will make all types of loans, including home loans, more expensive now.
In a bid to rein in inflation, maintain global interest rates parity and ensure the stability of the currency, the RBI in its MPC meet on Friday decided to increase the repo rate by 50 bps for the fourth consecutive time to 5.90%.
Although the increase in the repo rate was along the expected lines, industry experts and developers feel the rate hike does not augur well for the real estate sector, especially the residential segment, as it will result in increased mortgage rates.
