25 Aug 2023

Thrikkakara and Edapally areas in Kerala are witnessing a surge in flat registrations, accounting for over 50% of registrations in the district over the last four months. Despite this growth, overall property registrations, including flats and lands, have decreased compared to last year. The pandemic caused a registration dip in 2020 and 2021, leading to higher numbers in 2022. This year, the shift towards reselling properties shortly after purchase and the high cost of new flats might be affecting registration rates. Stakeholders believe that the implementation of Kerala's Real Estate Regulatory Authority is motivating builders to complete projects within specific timeframes.Read more

25 Aug 2023

Despite challenges like higher home loan rates and property prices, the desire for homeownership in India remains strong, especially for luxury properties above Rs 1 crore. Demand for properties exceeding Rs 2.5 crore has also surged, reflecting a steadfast commitment to ownership. An interesting trend is the increased interest in owning land, driven by security and potential capital appreciation. NoBroker's report highlights a shift in sentiment, with 86% considering it a good time for property investment, and 77% intending to buy in 2023. Gated communities are favoured, while plots gain popularity for price appreciation potential. Budget constraints and amenities drive purchase decisions.Read more

24 Aug 2023

Between January and August 2023, the Indian real estate market experienced a notable rise in land deals. ANAROCK Research's study reported 59 transactions covering 2,018 acres, a significant increase from the previous year's 50 deals spanning 1,438 acres. Ahmedabad stood out, contributing to almost 37% of total transactions. While 2022 saw smaller plot deals, 2023 witnessed Ahmedabad closing three mega deals for 740 acres. Residential projects dominated, with 38 deals and 283 acres across major cities. Township projects also gained momentum, with five deals for 1,136 acres. This active land market indicates robust growth and evolving urban development trends in India.Read more

24 Aug 2023

A temple that was initially erected in the parking lot of Gaur City 2 society disappeared following objections from residents. Following discussions involving GNIDA officials, police, builders, and residents, a new location near the society park was identified and approved for the temple. GNIDA's formal approval will be obtained once NOCs are secured from the majority of flat owners, while ensuring that utility lines are unaffected. Builders in the area must adhere to approved layouts and obtain authority approval before making any modifications or introducing new structures.Read more

24 Aug 2023

Gurugram's Resident Welfare Associations (RWAs) are opposing the establishment of healthcare facilities within residential colonies, citing potential negative consequences. Concerns include increased traffic congestion, insufficient parking, and strains on utilities like water and electricity. RWAs recognize healthcare accessibility's importance but propose evaluating alternative locations with better infrastructure. Balancing convenience with the potential burdens on existing resources becomes crucial in addressing the residents' quality of life and maintaining the area's overall functionalityRead more

23 Aug 2023

The Delhi Development Authority is revolutionizing its housing schemes to attract more buyers. It's re-evaluating the one-unit bid rule, aiming to broaden appeal and sales. Traditional restrictions are giving way to innovative strategies, including public-private partnerships. The DDA has also enlisted real estate consultant Anarock to enhance its sales approach, focusing on pricing, amenities, and dynamic strategies. The upcoming 2023 housing scheme will see 23,000 flats phased for sale, with a spotlight on the Narela sub-city. Amid dynamic changes, the DDA aims to transform its housing offerings, elevate the buyer experience, and adapt to evolving market dynamics.Read more

23 Aug 2023

A recent study by Savills, a top real estate consultancy, revealed a significant 5-28% year-on-year increase in luxury housing rentals across Delhi, Noida, and Gurugram in the first half of 2023. The surge, attributed to a growing demand-supply gap and rising capital values, saw Delhi's Central 1 micro-market, including areas like Golf Links, leading with a 10% rise. Gurugram reported a 28% average hike, while Noida's premium sectors experienced around a 19% growth.Read more

23 Aug 2023

Maharashtra's State Housing Minister, Atul Save, announced the upcoming release of a revamped housing policy focused on affordable and sustainable living. This policy, set for a November launch, will integrate feedback from diverse stakeholders, such as architects and engineers. Building upon the previous 2015 policy, it will emphasize streamlined clearances for homebuyers and address contemporary challenges like special townships and slum redevelopment. The new framework also plans to incorporate recent state-specific regulations and align with the central 'Housing for All' initiative.Read more

23 Aug 2023

Bank of Baroda recently published an e-auction notice for the sale of actor Sunny Deol's 'Sunny Villa' bungalow in Mumbai due to outstanding loan dues amounting to around Rs 56 crores. Scheduled for September 25, the auction notice was withdrawn on August 20, reportedly due to technical reasons. The Sarfaesi Act empowers banks to recover non-performing asset (NPA) dues without court intervention. Deol has the option to settle the dues and stop the auction. The Act mandates a legal notice, followed by a 60-day period to repay the loan, failing which the property can be sold. Sunny Deol, an actor and MP, won the Gurdaspur constituency seat in the 2019 elections. Bank of Baroda's swift action raises questions about the handling of NPAs within legal bounds.Read more

22 Aug 2023

The Union Housing Ministry and the International Council for Local Environmental Initiatives, South Asia, conducted an energy consumption analysis in 15 cities, including Thane. Thane's high greenhouse gas emissions, driven by residential buildings and public transportation, lead to extreme weather events. Excessive energy usage, stemming from household appliances, was highlighted. Proposed solutions involve adopting rooftop solar panels, transitioning to electric buses and solar-powered vehicles, and optimizing construction practices. The report suggests rainwater harvesting, eco-friendly construction, and enforcing emission regulations. Curbing emissions can bolster Thane's resilience against natural disasters and create a safer urban environment.Read more