BENGALURU: Four years after its enactment, the on-ground implementation of Real Estate (Regulation and Development) Act, 2016 (RERA) regulations remains patchy even as the law has helped thousands of homebuyers redress their grievances across the country, say experts. RERA authorities in dierent states have disposed of 48,556 cases since all provisions of the Act came […]
The unprecedented disruptions caused by Covid19 outbreak including job losses, salary cuts and concerns over future economic growth has hit the housing market with lower sales and price correction. In the first half ended June, weighted average prices have declined across most Indian cities with the National Capital Region, Pune and Chennai witnessing the most […]
NEW DELHI: The home sales in top eight cities of India declined by a significant 54% year-on-year to a decadal low of 59,538 units during H1 2020 with sales mostly concentrated in the first quarter of calendar year, according to a recent report by Knight Frank India. New home launches also reported a massive drop […]
Developers in NCR are ready to resume work at construction site and have made isolation room available in case of a suspected patient. While Haryana had started giving permission for in-situ construction in the last week of April, Delhi and UP have also allowed construction from Monday. “The guidelines issued by the district administration are […]
The Gurugram Metropolitan Development Authority (GMDA) has decided to treat the lockdown period as a ‘zero period’ for the processing of all change of land use (CLU)-related formalities. As such, developers of projects, who were unable to submit letters of intent (LOI), building plans for approval, or applications seeking occupancy certificates (OC) for their projects […]
NEW DELHI: Unable to reduce property price directly due to high circle rates, leading real estate developers in NCR are oering benets upto 25% of the property value to serious homebuyers in a bid to oload piled up inventory and tide over the liquidity crunch many are facing after the Covid-19 induced nationwide lockdown. Property […]
NEW DELHI: Real estate consulting firm CBRE South Asia today announced in a press release the appointment of Parimal Galvankar as the head of people (HR) for India. Galvankar will now oversee CBRE’s pan India human-resources activities of a workforce of more than 10,000 professionals across 10 offices in India. Anshuman Magazine, chairman and CEO, […]
NEW DELHI: Cash-starved real estate developers in the National Capital Region are offering property-swap schemes to homebuyers stuck in stalled projects, providing them an option to switch to another property if they are ready to pay at least 70% of the price of the new property. “We will accept customers from any stuck project and […]
NEW DELHI/ BENGALURU: OyoHotels & Homes has terminated leases at two of its flagship corporate offices in Gurugram and is renegotiating the lease on a third, sources told ET, as the cash-strapped hospitality chain — battered by low occupancies due to the Covid-19 pandemic – moves to save on real estate costs. The SoftBank-backed company […]
NEW DELHI: Hotels chain Ibis on Wednesday said it has introduced alternative working space for individuals and organisations in India in adherence to the safety and hygiene standards amid COVID-19 crisis. Available across all its properties in India, the new offering Work@ibis provides a safe, alternative working space to individuals and organisations looking to work […]
NEW DELHI: Embassy Group has proposed to merge about 11 real estate projects having nearly 61.9 million sq ft area with Indiabulls Real Estate (IBREL) and take control of the merged entity, the later informed in a BSE filing on Wednesday. Currently, Embassy has around 14 per cent stake in IBREL which it bought in […]
NEW DELHI: Cash-starved real estate developers in the National Capital Region are offering property-swap schemes to homebuyers stuck in stalled projects, providing them an option to switch to another property if they are ready to pay at least 70% of the price of the new property. “We will accept customers from any stuck project and […]
