Housing sales in the country’s top eight cities fell by 54 percent year-on-year (YoY) to a decadal low of 59,538 units during the first half of 2020 on account of the COVID-19 pandemic, according to a Knight Frank India report. New launches also fell by 46 percent to 60,489 units. […]
Embassy Has Intentions To Merge 62 mn sq ft Into Indiabulls Real Estate
Embassy Group has offered to merge 61.9 million sq ft of its real estate assets into Indiabulls Real Estate Ltd (IBREL) for a proposed, the latter said in a regulatory filing on Wednesday. Once the merger goes through, Embassy Group and its chairman Jitu Virwani will take control of the combined entity. Indiabulls Group […]
Even After Four Years RERA Rules Still Have Shortcomings Which Need To Be Worked On
Four years after its enactment, the on-ground implementation of Real Estate (Regulation and Development) Act, 2016 (RERA) regulations remains patchy even as the law has helped thousands of homebuyers redress their grievances across the country, say experts. RERA authorities in different states have disposed of 48,556 cases since all provisions […]
DDA Suggest Modifications In Plan To Invigorate Real Estate Sector
With the coronavirus pandemic impacting real estate sector, the Delhi Development Authority (DDA) on Tuesday approved two significant modifications in Master Plan of Delhi (MPD) 2021 to help stakeholders for strong business proposition. During DDA’s board meeting chaired by Lt Governor Anil Baijal, nods were given to increase maximum ground […]
Indian Ratings Suggest That COVID-19 Has Aggravated The Fall In The Bookings of Residential Real Estate
The ongoing Covid-19 pandemic is likely to push overall residential demand in 2020-21 down over 25% from a year ago, said ratings agency India Ratings and Research (Ind-Ra). A stable demand, combined with prudent launches by players, had restored some supply-demand balance over FY18-FY19. However, the Covid19 related lockdown has […]