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News Updates

02 Oct21

Builders to gain as Centre okays Coastal Zone Management Plan for Mumbai

MUMBAI: After more than a decade, the Coastal Zone Management Plan (CZMP) for Greater Mumbai has finally been approved by the Union environment ministry. This will set the stage for towering structures near the underpinning as originators can now take two-and-a-half times the construction rights on similar plots. Earlier, construction was limited because of their proximity (500m 500m) to the coast under Coastal Regulation Zone (CRZ ) II. Official sources said the very charts are hoped to be

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25 Sep21

Why Diwali might be the best time to buy a house

The greatest banks and developers in India are banking on you for a revival. On offer are credits with 10-year-low loan costs, deferred payments, discounts. Some banks are even foregoing charges. A flush of cash from Mint Street helps the autumn in rates, letting lenders go all bent woo a comparatively safe set of borrowers to cushion a Covid blow to asset quality. Kotak Mahindra Bank, Bank of Baroda, State Bank of India, Punjab National Bank, are among the banks who have slashed home loan

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18 Sep21

Home-Seekers To Invest Between Rs 90 lakh And Rs 2.5 Crore

Covid-19 has altered home-buyers preferences, with the second wave being a big change catalyst. Over 34 per cent of respondent home-seekers during a survey said they focused on properties priced between Rs 90 lakh to Rs 2.5 crore. While 35 per cent favoured properties priced between Rs 45-90 lakh, just 27 per cent of respondents voted in favour of affordable housing (priced but Rs 45 lakh), as per the CII-Anarock Consumer Sentiment Survey. “The budget range which this survey identifies

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16 Sep21

West Bengal sets ball rolling for digital vigil on sand mining

The Bengal government on Monday started empanelling administrators for mining of sand and transportation to stockyards available to be purchased. In addition to 24/7 CCTV camera surveillance at the mines and stockyards, at the mines and stockyards, all vehicles ferrying sand must have RFID ta tags or GPS work with computation of excursions made. The state cabinet had last month taken a choice to draw up a brand new sand mining policy for greater transparency and nil environmental damage. The

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01 Sep21

Big construction units to have recycle plants

Construction projects that daily generate waste of 20 tonne or more will need to found out a plant where the waste are going to be converted into aggregates for other construction activities. “Construction sites need to become environment-friendly and stop dumping waste. they need to line up a waste recovery plant at the location and work towards zero net waste generation,” a KMC official said. Construction waste includes head break concrete blocks of pile caps and broken tiles

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25 Aug21

India sees 26% rise in home loans in January-June 2021

Housing loan borrowers are making the foremost of the present record-low rate of interest regime as indicated by a 42% on-year surge in demand for Balance Transfers (BT) and 26% rise for home loans within the half of 2021. Loan Against Property (LAP) during this period has also witnessed a 20% rise. The soaring demand is essentially attributed to the Reserve Bank of India’s decision to stay the repo rate unchanged at a continuing 4%. This has allowed many banks to supply home loans at

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18 Aug21

Women Home Buyers On The Rise

In the last few years, several initiatives were taken to help women be more financially independent and successful home-owners, from making it mandatory to have a woman co-owner when applying for a home via PMAY to offering additional stamp duty cuts in select states.  The efforts seem to be bearing fruit. According to a recent report by Knight Frank India, women home-buyers constituted 6.6 per cent of the total new home sales in Mumbai BMC region in April 2021. In May 2021, the number

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18 Aug21

19,000 buyers of Unitech flats to get possession in 4 years SC informed

In a big relief to more than 19,000 homebuyers who booked flats around a decade back in Unitech but still await possession, the Centre appointed board of directors told the Supreme Court on Tuesday that the real estate firm, which has been in a financial mess, is set to be revived and flats will be handed over in a phased manner in four years. The erstwhile management of the group, led by its promoter Sanjay Chandra, was removed by the apex court after it was found that a large amount of

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26 Jul21

Why real estate offers good returns ?

Real estate business has seen a significant shift in the last ten years since 2010, particularly in regions such as Pune,kolkata,Bengaluru, Hyderabad and Delhi-NCR. These cities, however, are nearing saturation due to lack of sufficient land banks and excessive costs. As a result, numerous rising towns are projected to become sought-after destinations in the next few years.Various upcoming smart cities will project the next phase of growth in real estate. Given that the government's "Smart

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22 Jul21

Real estate market to touch $1 trillion by 2030, housing demand revives despite COVID-19: Housing secretary

India’s real estate market is expected to touch $1 trillion by 2030 as demand for housing recovers from the “setback” caused by the first and second waves of the COVID-19 pandemic, a top government official said. “The size of the real estate sector was around $200 billion two-three years ago. We expect the real estate market to touch $1 trillion by 2030,” Durga Shanker Mishra, secretary in the housing and urban affairs ministry, said at a conference on July

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