The share of ready-to-move-in inventory as a percentage of total sales rose to 20 per cent during the 2019-20 financial year as against 15 per cent in the previous fiscal. Demand for ready-to-move-in housing units is rising as project delays by multiple builders have shaken the buyers’ confidence in the property market. According to a […]
In a relief to real estate industry, Finance Minister Nirmala Sitharaman on Wednesday announced that the deadline for completion of projects will be extended by up to six months for all registered projects expiring on or after March 25, 2020, without individual applications, treating the coronavirus outbreak as an event of ‘force majeure’. Dr. Niranjan Hiranandani, President, ASSOCHAM […]
The residential real estate sector is poised for a strong comeback as affordability is at the best, says Mohit Malhotra, Managing Director & Chief Executive Officer, Godrej Properties. Speaking to ET Now, he said, “once the economy comes back we will see a very sharp recovery in the residential real estate sector. because affordability is […]
Migration of labour has further compounded problems for builders, who expect it will require 2-3 months to mobilise workforce once lockdown is lifted. Even half-complete projects would be difficult to finish by December this year. Over 68,000 houses, that were to be delivered to buyers in 2020 in the Delhi-National Capital Region (NCR) are unlikely […]
While the Covid-19 lockdown has made manyrealised that owning a home for their families is very important, several home seekers found it appropriate time to buy properties due to reasons like reduction in home loan rates and rationalisation of property prices.Therefore, some developers have not only been receiving constant enquiries for properties but generating sales […]
The approved projects include real estate projects of developers including DLF and M3M, along with some infrastructure projects. The Gurugram Metropolitan Development Authority (GMDA) has approved 25 projects for immediately restarting construction activity, with strict instructions to the builders to maintain social distancing norms during work. Developers are free to start construction at 45 sites […]
With a 21-day countrywide lockdown announced by PM Modi on Tuesday evening in the wake of the Corona virus pandemic, the big question now pertains to the impact that it is going to have on the Indian economy in general and the real estate sector in particular. With a 21-day countrywide lockdown announced by Prime […]
“Due to the suspension of railways, many construction workers and labourers could not go back to their homes, therefore, we are supporting each of them with basic needs,” said Roop Bansal, Trustee, M3M Foundation. The group is providing relief to more than 5000 daily wage earners and construction workers. To stop the mass exodus of […]
If real estate is able to get its mojo back, there is hope that the Indian economy would also return to its 8-plus per cent growth rate soon. It was largely expected. With a view to curb the spread of Covid-19, the 21-day lockdown which was imposed earlier across the country has been extended by […]
With home loan rates at the lowest in almost two decades, this is the best time to buy. Opportunities don’t come knocking on your door very often. However, when they do, you’ve got to be ready to optimise it to the fullest. The aftermath of the Covid-19 pandemic situation has established the fact that owning […]