2023-08-11
Residential property prices in India's top eight cities showed a notable 7% year-on-year gain, driven by high demand and favorable interest rates. According to CREDAI, Colliers, and Liases, Foras Kolkata had the most YoY increase in home prices, at 15%. Hyderabad and Delhi NCR came next, with YoY growth of 14% and 13%, respectively.
2023-08-11
Indore district leads in income creation, collecting $6.89 billion in property sales between Q1 and July, defeating 14 other districts under the Indore and Ujjain divisions. Property income increased by 16% this year compared to the prior year. Data from the registrar's office show that over 50,000 property registrations were filed between April and July 2023, raising revenue. Expansion of Metro lines, business and IT growth, and infrastructure development all contribute to skyrocketing property values.
2023-08-11
Experian Developers, a 100% FDI-funded real estate developer backed by Experion Holdings of Singapore, has bought a 5.5-acre land block in Gurgaon's Sector 48 through a government auction for around Rs 550 crores. This is the company's fourth acquisition in the span of a few months, demonstrating its dedication to India's real estate industry and growth story.
2023-08-11
MahaRERA has hired a real estate intelligence firm to assist its compliance unit in gathering first-hand information about real estate projects that have lapsed, are financially strained, or have not filed quarterly reports or followed regulatory requirements. The agency will give MahaRERA a parallel method to examine the project's real-time status, including onsite images and stages of completion.
2023-08-11
The Reserve Bank announced on Thursday that it will provide a framework that will allow borrowers to switch to fixed interest rates, which will bring relief to borrowers of home, vehicle, and other loans who are reeling under the effects of high-interest rates. According to Reserve Bank Governor Shaktikanta Das, the framework, which will be implemented soon, will require lenders to communicate with borrowers about term and EMI.
2023-08-11
NCR-based real estate developer Bhutani Infra plans to build an uber-luxury housing project in Sector 32 of the Delhi satellite city. It will be a mixed-use development with a mall and approximately 60 large, elegant apartments. The overall anticipated investment in the project is expected to be around Rs 600 crore. An apartment is estimated to cost around Rs 12 crore, which is unheard of in the Noida market.
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.
