It’s been five years since the Real Estate (Regulation and Development) Act was implemented but till date less than 10% of the ongoing real estate projects that were registered under the Act have been delivered as developers have all along asked for extension in project timelines, said Abhay Upadhyay, president […]
RERA Let Down Customers Whose Housing Projects Stuck After 5 years: Home Buyers Forum
The Forum for People’s Collective Efforts (FPCE), a group that campaigned for the enactment of the Real Estate (Regulation and Development) Act, said the regulation has failed to meet the expectations of scores of homebuyers whose investments were stuck in ongoing housing projects. Enacted five years ago, RERA covered both […]
Noida Takes The Lead In Office Space Uptake In Delhi/NCR Overtaking Gurgaon
Noida has been consistently topping the charts as Delhi NCR’s best performing market in terms of net office space absorption for four consecutive quarters. However, it still has a lot to cover compared to competitor Gurgaon, which accounts for a major share of offices occupied by large MNCs and KPOs, […]
‘Slash Stamp Duty To Power Sales’ Credai-MCHI To Maharashtra Government
A real estate developers’ body has urged the Maharashtra state government to reduce the stamp duty charges back to 2 percent in Mumbai until March 31, 2022 following a slowdown in housing sales and reduction in revenue collections for the government. CREDAI-MCHI believes that the downward trend is set to […]
COVID-19 Shrinks Real Estate In India In FY2021: India GDP Data
The construction and financial, and real estate and professional services sectors have shown a negative growth of 8.6 percent and 1.5 percent respectively between April 2020 and March 2021 due the impact of COVID-19, official data released by the National Statistical Office (NSO) showed on May 31. However, in Q3 and Q4 construction […]