2023-08-11
The Telangana government decided to revoke a 27-year-old government order (GO No. 111), which prohibited construction activity and the establishment of industries within a 10-km radius of major water bodies - Osman Sagar and Himayat Sagar - and their catchment areas on the outskirts of Hyderabad, this has resulted in a significant increase in real estate in the western parts of the city.
2023-08-10
The Reserve Bank of India (RBI) voted in favor of maintaining the repo rate at 6.5 percent by a unanimous vote on 10 August. According to real estate experts, this decision to hold rates displays the ‘steadfast and vigilant stance of the monetary policy committee (MPC) and is expected to boost housing demand. The third policy rate pause continues to be favorable for the real estate industry, with the residential segment maintaining its growth momentum in successive quarters
2023-08-10
MSME Business Awards were held in New Delhi, India, in collaboration with Entrepreneur Magazine, to recognize the Indian Economy's Backbone - MSME, which is currently home to 63.3 million. MSMEs collectively generate 30% of India's GDP. The show is recognized as the nation’s most successful MSME Recognition Program honoring the silent pillars of the economy. Chintan Vasani, Founder Partner of Wisebiz, was awarded REAL ESTATE BUSINESS OF THE YEAR 2023 by Shri Narayan Tatu Rane, Hon'ble Minister of MSME, Government of India.
2023-08-10
According to Maharashtra Real Estate Regulatory Authority data, with house loan rates rising in the last two years and homebuyers' purchasing power reduced by the global slowdown in the IT sector, Pune experiences a spike in launches in the 1 BHK category. Industry experts claim that techies returning to Pune chose to buy a 1 BHK apartment rather than a larger one as the work-from-office culture started and affordability started to take a bite. More than 70% of homebuyers in Pune are IT professionals.
2023-08-10
Intel India has leased 11,536 square feet of space in a data center building in Bengaluru for three years from Hyderabad-based CtrlS Data Centers Ltd. The company rented the first floor of Bangalore DC1 in Electronic City for a monthly rent of Rs 11.25 lakh for 2,500 sq. ft (built-up area). Additionally, it has also rented the seventh floor of the building which has a built-up size of 9,036 square feet. The monthly rent is Rs. 36.14 lakh.
2023-08-10
The Delhi government's intention to raise the circle rate for agricultural land from Rs 5.3 million to a maximum of Rs 50 million per acre is expected to boost farmhouse valuations amid sustained post-Covid demand. Farmers have opposed the rise, claiming that the reasoning behind it is misguided. They believe the government should have waited until the new master plan for the capital was released before making such modifications.
2023-08-10
The Yamuna Expressway Industrial Development Authority (YEIDA) has launched two residential programs, offering consumers the opportunity to secure properties near the upcoming Noida International Airport. The flat scheme includes 468 flats, while the plot scheme includes 1,184 plots ranging in size from 120 to 2,000 square meters. Due to the overwhelmingly positive reaction, YEIDA has decided to perform a lucky draw instead of the original first-come, first-served agreement.
2023-08-10
Civic and police teams have begun visiting some of the 55 unlawful buildings in the Vasai-Virar region, which are said to have been built after obtaining approvals with fake paperwork and counterfeit seals. Agitated residents of one of these buildings stated that they purchased flats based on Real Estate Regulatory Authority (RERA). The Police have arrested two promoters, two real estate agents, and a rubber stamp maker – in the case.
2023-08-10
According to Anarock Research, luxury residences across the country have experienced the highest average price appreciation of 24 % in the last five years, with Hyderabad experiencing the highest average price appreciation. Average home prices in the top seven cities increased the most, rising from Rs 12,400 per sq. ft in 2018 to roughly Rs 15,350 per sq. ft today. The seven cities included the National Capital Region (NCR), Hyderabad, MMR, Bengaluru, Pune, Chennai, and Kolkata.
2023-08-10
Recently an e-auction hosted by the Kokapet and Mokila neighborhoods of Hyderabad sold an acre and one square yard of land, for over Rs 100 crore in Hyderabad and recorded its highest sale in the history of Hyderabad Metro Development Authority (HMDA). One acre of land constructed by HMDA in the Neopolis layouts of survey numbers 239 and 240 in Kokapet was sold for Rs 100.75 crore, while one square yard of land crossed Rs 1 lakh at Mokila village.
