Physical progress both for the Pradhan Mantri Awas Yojana Urban and PMAY-Grameen has been slow.
To also support approaches in integrated planning and basic services.
While some experts feel that this is an 'excellent move' and will affect the Delhi-NCR market the most, builders are of the view that it will lead to a further liquidity crisis.
The apex court also directs the developer to submit details of amount pending from homebuyers.
"Is it not a way of life here," a bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar asked when the issue of illegal registration of commercial properties as residential ones was raised before it in the plea, which also sought a CBI or SIT probe into the matter.
The funds were disbursed by the Centre in financial years 2014-2015 and 2015-2016 with Delhi government adding its share and releasing the amount to the civic bodies and agencies.
Apex court informed that Mahindra and Piramal group have expressed interest in buying Aamby Valley
The apex court had earlier observed that the rule of law over sanction to construct buildings had "completely broken down" in Delhi and expressed concern over illegal construction.
Bidding process under resolution process to continue. Next date of hearing set for Feb 12
All new project launches are on hold
With a massive urbanisation rate of more than 30% (estimated to reach 40% by 2030), the demand for homes in India an assured long-term story in which chapters will continue to unfold.
While they had planned their finances well while booking the flat, or atleast they thought so, the Indian middle class failed to provision for frauds, diversion of their funds and breach of contract, which have become commonplace in real estate dealings.
GST Council-approved tax cuts on houses constructed under PMAY scheme to be applicable from today
The target of Housing For All by 2022 will need huge equity capital infusion. Therefore, policymakers can ill-afford the current Risk-Return anomaly.
Region’s share of new launches in the affordable segment grew from 21% in 2012 to 71% in 2017: report
Of these investments, Rs 80 crore is invested in Kumar Properties’ residential project (8 lakh sq ft) and Rs 70 crore is deployed in Naiknavare Developers’ residential project Avon Vista (6 lakh sq ft.).
Nearly 3000 projects worth Rs 1.40 lakh crore at various stages of implementation
PRL to develop South Mumbai’s largest residential project of over 2 million square feet; to invest Rs 2,600 crore in the development
International audit firm Currie & Brown likely to submit final report within a week
Coverage of PMAY enhanced to include properties in rural areas, industrial belts and rural pockets within SEZs
Its impact on LIG and MIG segments less significant, says RBI report
Next date of hearing set for January 29
Drop in sales in 2017 was majorly due to a drop in new launches. 32% of sales in 2016 was contributed by projects launched in 2016 itself.
As on December 31, the number of unsold units stood at 528,494, and going by the current rate at which properties are getting sold, it would take 11.2 quarters to sell all of them.
The letter says that even though the government has passed on a host of concessions to real estate developers with the intent to make housing affordable, builders, unfortunately, enjoy the reductions in cost rather than passing it to buyers