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NBFCs provide convenient and quick home loans for first-time buyers with unorganized credit histories, but banks tend to offer lower rates of interest and superior long-term value.
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The top court was hearing a batch of pleas against an order of the Delhi High Court which had dismissed petitions by several home buyers seeking directions to banks and financial institutions to not charge Equated Monthly Instalment (EMI) till the real estate developers have delivered the possession of their flats.
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To push sales, real estate developers are cutting prices but the Chinese government is penalising those who are announcing sharp cuts for fear of it disturbing the market and spreading the crisis to banks
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As per the Anarock data, the completion of housing units was highest since 2017. About 4.02 lakh homes were completed in 2022 across the seven cities, a 44 per cent increase from 2021 level when around 2.79 lakh homes got completed.
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The home buyers say they have been waiting for possession for 12 years. The project was originally launched in 2009 by Nirmal Lifestyle. When it did not take off, the rights were sold to Ricardo Constructions, a subsidiary of Shapoorji Pallonji
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MCHI-CREDAI, an apex body of real estate developers, had filed an interim application with the Supreme Court seeking clarification.
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The apex court said lawyers of the residents of the society and the developer may jointly work out compensation payable to residents.
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Officials at the additional registrar of cooperative societies, Karnataka, where there have been several such instances, said the department has already received a clarification from the state government on the contentious Karnataka Apartment Ownership Act, 1972.
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Almost Rs 1,000 crore invested by over 1,200 home buyers is stuck in these projects.
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The tribunal ruled that there was no record to show that the developer had accepted the proposal of the homebuyers in any form, including a fresh allotment letter.
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Client acquisition cost speaks volumes about the developer’s track record, goodwill earned, responsive brand conduct, and the ability to deliver future projects as per the commitments made.
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This project had a net negative cash flow of between Rs 18 crore and Rs 19 crore. In this case, the developer agreed to salvage the situation by agreeing to contribute the balance. Can the model work in big projects that are stuck?
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The tribunal orders the developer to complete the project in Mumbai’s Kandivali area within 12 months, and pay interest to home buyers for delayed possession.
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The ED probe found that funds received from homebuyers and meant for the construction of projects were diverted for personal use or fraudulent purposes, leaving the projects in limbo.
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In this episode of The Moneycontrol Real Estate Show, Moneycontrol's Vandana Ramnani talks to Ramesh Nair, CEO, India and Managing Director, Market Development, Asia, Colliers to understand the real estate investment opportunities for homebuyers and investors in 2022. Listen for more
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The fundamentals of the market and macroeconomic outlook indicates 2022 could turn out to be even more challenging than 2021 for more than one reason.
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Three builders named Wave, Three C and Logix Group cornered 80% of commercial projects between 2005 and 2018. Up to 63% of housing projects allotted by Noida authority were incomplete or partially completed, national auditor finds in scathing report.
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When the three phases of the Regional Rapid Transit System are completed, it will become easier to live in Rewari, Bhiwadi, Alwar, Shahjahanpur, Neemrana, Sonepat, Panipat, Ghaziabad or Meerut and work in Delhi-NCR.
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With work-from-home continuing, buyers are taking advantage of a low mortgage regime to buy houses in the suburbs, willing to commute longer for the sake of affordability and bigger spaces.
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No one may officially admit it, but privately many developers maintain that the client conversion rate out of the footfalls on sites is the least during the monsoons.
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Homebuyers are now on par with financial creditors in the IBC scheme of things, but they are still sandwiched between secured and operational creditors
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The NBCC appointment has more questions than answers. It’s a throwback to SBI’s beast of burden role
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As per the revised norms, minimum area proposed for developing a residential plotted colony is now 25 acres for hyper areas, 20 acres for high potential areas, 15 acres for medium and 10 acres for low potential zones.
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For the housing sector to regain significant momentum, the real need is to woo back the long-term investors who exited the residential market.
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There is no immediate hurry to transfer your hard-earned money into some quasi developer’s account. Wait for the licences to be issued by authorities. Else, you may neither see your money, nor your dream house for another 5-7 years
