BUSINESS
DDA Housing Scheme 2021 update: Authority receives over 16,000 applications
Out of the 7,270 people who have paid up the booking amount, 4,699 have applied for HIG and MIG units that are available in the range of over Rs 1 crore and Rs 2 crore.
BUSINESS
The RERA rule that gives hope to homebuyers stuck with real estate projects
This model of homebuyers taking over stuck projects is becoming popular and once some of the projects do get completed, it could become a test case for other projects to emulate
BUSINESS
Amrapali’s 52 units completed by NBCC in Noida and Greater Noida up for sale
The residential units include five villas and 27 penthouses and six commercial properties with prices ranging from around Rs 64 lakh to Rs 2.04 crore; applications open until March 10
BUSINESS
Delhi property circle rate cut: How much will real estate prices reduce and other questions answered
All that you need to know about the Delhi government’s decision to reduce circle rates in the National Capital across categories— residential, commercial and retail—for six months.
BUSINESS
Homebuyers of Noida Sports Cities projects have to wait longer to register units
In January, the Noida Authority decided to form a committee to suggest the way forward for the sports cities planned across Sectors 78, 79, 101, 150 and 152. It also said that no occupation certificates would be issued until the unfinished sports infrastructure is completed.
BUSINESS
Delhi government reduces circle rates for residential, commercial and industrial properties by 20%
The circle rates in Delhi have been reduced by flat 20 percent across all categories of colonies and areas until September 30, 2021.
BUSINESS
Housing ministry, Zomato partner to take street food vendors’ businesses online
Initially, a pilot programme will be initiated by onboarding 300 vendors across six cities namely Bhopal, Ludhiana, Nagpur, Patna, Raipur and Vadodara.
BUSINESS
Housing minister Hardeep Puri performs ground-breaking ceremony of redevelopment of Central Vista Avenue
The government plans to hold the Republic Day parade in 2022 on the newly-redeveloped Rajpath, a project being executed under the Central Vista redevelopment plan.
BUSINESS
RLDA receives nine RFQ bids for New Delhi Railway Station redevelopment project
In the next stage RLDA will float the Request for Proposal (RFP) for selected participants who get qualified in the technical process.
BUSINESS
Mumbai industrialist buys four luxury apartments in Mumbai for Rs 80 crore
Several high-value deals were concluded in December to meet the state’s deadline for a 2 percent stamp duty cut.
BUSINESS
Actor Sanjay Dutt gifts 4 Bandra apartments worth Rs 100 crore to wife Manyata, she returns them
The apartments in Palli Hill area come with 17 car parking spaces.
BUSINESS
Noida Metro to introduce Fast Trains on Aqua Line during peak hours
The average run time of the Aqua Line from Sector 51 Metro Station in Noida to Depot Station in Greater Noida and vice versa is 45 minutes 43 seconds (one way), which will be reduced to 36 minutes 40 seconds, thereby saving around 9 minutes of travel time for the Aqua Line commuters.
BUSINESS
15th Finance Commission allocates Rs 1.5 lakh crore in grants to urban local bodies
Entry conditions are set for 4,500 ULBs to access the FC grants. It is now mandatory for them to publish accounts and notify floor rates for property tax. This is expected to build confidence among investors and catalyse the market for future municipal bond issues, experts say.
BUSINESS
Extension of tax holiday on investment in affordable housing until March 2022 to boost realty sector: Hardeep Singh Puri
A portal launch for migrant workers has also been proposed under Budget 2021 which will collect relevant information on gig, building and construction workers.
BUSINESS
Union Budget 2021 | Affordable, rental housing push likely to boost residential demand during COVID-19 pandemic
Infrastructure initiatives include MetroLite and MetroNeo to be launched for Tier-2 cities and peripheral areas of Tier-1 cities
BUSINESS
Union Budget 2021 | FM Sitharaman extends affordable housing benefit until March 2022
In order to promote supply of Affordable Rental Housing for the migrant workers, it is also proposed to allow a new tax exemption for the notified Affordable Rental Housing Projects
BUSINESS
Budget 2021 | Debt financing for investment in InVITs, REITs to be enabled further: FM Sitharaman
The move will attract more investment in the real estate and infra sectors, says FM Nirmala Sitharaman.
BUSINESS
Budget 2021 | Metro light and metro neo to be launched for Tier 2 cities: FM Nirmala Sitharaman
Finance Minister allocated Rs 14,788 crore in the Union Budget 2021-22 for the expansion of the Bengaluru Metro, while the Chennai Metro Phase 2 will be built at a cost of almost Rs 62,000 crore.
BUSINESS
Budget 2021: Nirmala Sitharaman unveils second phase of Swachh Bharat Mission
Nirmala Sitharaman said the scheme will focus on complete faecal sludge management, waste-water treatment, source segregation, management of waste from urban construction and also include bioremediation of legacy dump sites.
BUSINESS
Brookfield India’s REIT IPO allays fears of disruption in office space market due to work-from-home culture
It also strengthens India’s story of attracting global institutional capital for commercial real estate.
BUSINESS
Economic Survey 2021: Significant improvement in access to housing for lowest-income group
Since 2014-15, construction of approximately 1.94 crore rural houses have been completed, out of which 1.22 crore houses have been constructed under the revamped scheme of PMAY-Gramin
BUSINESS
Explained | What are property swap schemes, how do they work and other questions answered
While these offers are being touted as a ‘win-win’ option for both the developers and the homebuyers, customers must exercise caution and read the fine print carefully. After all, one does not want history to repeat itself.
BUSINESS
Reduced real estate premiums to generate economic activity worth Rs 10 lakh crore in MMR: CREDAI MCHI
Maharashtra Government’s decision will also lead to increase in new residential project launches in MMR and make housing affordable for homebuyers
BUSINESS
NCR-based M3M plans to become debt-free by March 2022, launch 10,000 independent floors in 2021
The company will invest close to Rs 900 crore to acquire three new land parcels
