The country's top 35 cities recorded sales of 91,115 units in the September quarter, while 1,310,570 houses have remained unsold.
NCR to see highest RTM stock with over 68,070 units and Chennai least with 10,860 units.
The year-on-year growth in sales volumes remained healthy at 12 percent; launches stood at 7.35 mn sq ft and deliveries at 14.49 mn sq ft.
Since Delhi-NCR’s pollution problems will not reduce demand for inner-city housing, adjoining (sometimes less polluted) areas will not benefit from pollution-induced outward migration.
Mumbai moved up by two places to 28th spot, clocking a 0.8 percent year-on-year rise in prices while Bengaluru slipped five places to 20th place.
As much as $8.8 billion of the total foreign investments backed commercial real estate. The residential sector attracted just $1.5 billion of foreign PE in the same period.
Linking properties with Aadhaar can help in the inclusive growth of the realty sector, bring down property prices to realistic levels in the long-term, and ensure effective identification of Benami properties.
Weak outlook of key user industries to aggravate problems for Pune residential real estate; accelerated market consolidation likely.
Says Jaypee buyers strongly believe that there are several instances that prove that their money was diverted and used for other purposes.
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Finance Minister Nirmala Sitharaman said the government will put in Rs 10,000 crore in this Alternative Investment Fund (AIF) while State Bank of India and LIC would together provide Rs 15,000 crore, taking the total size to Rs 25,000 crore
Real estate projects facing litigation in higher courts will not be covered under the bailout plan.
As per ICRA estimates, around Rs 35,000-45,000 crore would be required to fund the completion of the revised quantum of 4.58 lakh eligible dwelling units.
Suggestions have been received from consumers, chiefs of financial institutions, real estate developers and other stakeholders.
The project to be launched on Makar Sankranti aims to bring transparency in the real estate sector and offer certified projects available across the country.
The counsel for homebuyers opposed the plea and said that there is a window until November 14 for the revised plan of NBCC to be considered by CoC.
Overall sales value was highest in MMR (Rs 62,970 crore), followed by Bengaluru (Rs 28,160 crore) and NCR (Rs 24,860 crore),
Over 3.1 lakh units are set to enter the market in the last three months of 2019 while the remaining 4.83 lakh units would be delivered through the course of 2020, the report by PropTiger.com said.
In tier-I cities, property enquires have increased by 15-20 percent and nearly 70 percent of them are for ready-to-move-in properties.
Only a handful of developers have the ability to complete a residential project and then launch it without relying on customer advances
According to the latest survey by industry bodies FICCI and NAREDCO, and property consultant Knight Frank, the Current Sentiment Index of real estate stakeholders in India has plummeted to 42 in the July-September quarter from 47 and 62 in the preceding two quarters.
Jaypee insisted that its appeal, whether its proposal can also be considered, should be heard first. The next date of hearing is scheduled for October 22.
The properties are spread across seven zones comprising Chennai, Coimbatore, Mumbai, Kolkata, Delhi, Bengaluru and Hyderabad.
MMR & Pune see their sales jump by 33%; NCR sees 15% rise.