The country’s largest mortgage lender by asset size said it has raised the amount by way of external commercial borrowings (ECBs).
Real estate developers say that in a city like Mumbai constructing affordable homes is a challenge as the cost of land is high
Unsold affordable houses in the top seven cities declined from 2,34,600 units in the first quarter of 2020 to 1,86,150 by the end of Q1 2022. Unsold ultra-luxury homes declined 5 percent during the period on rising demand
Under Section 80EEA of the income tax law, first-time homebuyers receive an additional tax deduction of Rs 1.50 lakh if the unit is worth up-to Rs 45 lakh.
Budget 2022 | Homebuyers expressed unhappiness over the absence of any additional tax deduction on interest paid on home loans or relief for buyers stuck with incomplete projects.
Countries where the property ladder is least accessible include Luxembourg, Switzerland and South Korea
Only 17% of PE investment in the residential segment allocated to affordable housing since 2011. Ministry of Housing and Urban Affairs pegs affordable housing demand at approximately 11.22 million houses by 2022.
Two projects have been identified in Panipat and Faridabad with a combined saleable area of approximately 1.5 million sq ft and sales revenue of approximately Rs 500 crore.
The slowing of new launches may have something to do with the piling up of unsold houses. Of the 6.54 lakh unsold units in the top 7 cities in the June quarter, the affordable segment had the highest share at 33 percent, Anarock report says .
Weighted average prices for new launched projects in a majority of India’s top cities remained muted in the past few quarters, with prices appreciating marginally in the range of 1–3 percent annually, the PropTiger report said
NCR-based real estate company Migsun Group will develop these projects under the joint venture and development management agreement model
From a REIT perspective, it was expected that the holding period for qualifying as long-term capital gains would have been reduced to 12 months but the same did not happen.
Four floors with 12 bedrooms and large-sized living rooms on a single plot for Rs 2 crore offers a better investment proposition than a similarly priced apartment in a high-rise for which a buyer may have to wait longer for the project to get completed
The company’s CROWN brand has accumulated a combined revenue of nearly Rs 240 crore.
Fitch expects luxury real estate to see the greatest price moderation but limited price moderation in affordable housing, given the segment’s better demand dynamics and thinner profit margins
Nearly 80 percent inventory in Mahindra Happinest Kalyan project has been sold in nine months despite COVID-19
This is because flats are an affordable housing option and a key component in the supply of rental housing in smaller towns, a report has said
An expenditure of Rs 600 crore is estimated in the form of technology innovation grant, which will be released for projects using identified innovative technologies for construction
On the residential real estate market front, the credit crunch is expected to result in a contraction in residential sales across top seven cities to 2.8 lakh-3 lakh units in 2020-21 from 4 lakh units in 2019-20
Budget-conscious homebuyers will feel the maximum heat of COVID-19; limited income and unemployment fears may cause many to defer purchase decisions in 2020
Real estate experts welcome the move, saying it would provide relief to homebuyers looking for affordable properties.
Existing phases or new launches are being reconfigured or designed with a focus on lower unit prices, the ICRA report said.
The current unsold residential stock across 35 cities stood at over 13 lakh units; Maximum growth in sales in Faridabad and maximum reduction in Greater Noida
Real estate developers disappointed with the Budget, say it failed to address liquidity concerns and did not provide any major incentives to boost sluggish sales.
Higher investment in housing by households may increase the fixed investment in the economy, it says