Between 2010 and 2015 there was a wave of second homes in and around Mumbai. Places like Lonavala, Alibaug, Shapur, Boisar etc. suddenly emerged as hot destinations. Many leading developers, including Tata Housing, Mahindra Life spaces, Lodha Developers, Hiranandani group etc., ventured into these new hotspots with a range of housing products. At […]
Maharashtra Real Estate Regulator Debars Developers From Adding Extra Floor Without The Buyers Consent
In a major judgment, the Maharashtra Real Estate Regulatory Authority (MahaRera) disallowed a builder last week from carrying out the construction of an additional floor for his project at New Panvel without the consent of the buyers who already bought flats in the building. The ruling is significant, as builders […]
Market Instability Forces Builders To Defer Project Launches
Real estate developers are deferring launches of residential projects to next year or reducing the number of fresh launches due to overall instability in the market and higher demand for ready homes. The covid-19 crisis has added to the woes of the real estate sector which was already reeling under a […]
Niranjan Hiranandani Talks About The Steps That Center Must Implement To Breathe Life Into Real Estate Sector
The real estate sector is facing a major challenge due to the lockdown. The problems started four years ago with demonetisation, which sucked a lot of liquidity out of the system; however, it introduced a lot of transparency in the dealings. The government then introduced GST to bring further reforms […]
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 […]