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Realtors welcome government's decision to help complete stalled housing projects

real estate

Updated on Nov 07, 2019 07:25 AM IST

Real estate developers welcomed the government’s move to create a Rs 25,000-crore fund to help complete over 1,600 stalled housing projects, saying it will solve the long-pending problem of homebuyers.

Announcing the Cabinet decision, Finance Minister Nirmala Sitharaman said several sovereign funds have expressed interest in the scheme and may join at a later stage.(HT Photo/representative image)

New Delhi | ByPress Trust of India

Banks unanimous in seeking one-time loan recast for realtors Mumbai

The demand made on Wednesday came ahead of the government later in the evening approving setting up of a Rs 25,000-crore bailout fund to finance as many as 1,600 stalled housing projects.

Axis Bank managing director Amitabh Choudhry said there are many realty projects with over 60 percent construction completed but are not able to carry forward for paucity of funds.(HT Photo/representative image)

real estate

Updated on Nov 07, 2019 06:36 AM IST

Mumbai | ByPress Trust of India

Complete corporate insolvency resolution process of Jaypee Infra Ltd within 90 days: SC

The apex court said it was necessary to revive the real estate company as more than 20,000 homebuyers had invested in the Jaypee Group, the project had been implemented in part, a substantial number of homebuyers were put in possession.

Supreme Court on Wednesday directed completion of the corporate insolvency resolution process for Jaypee Infratech Ltd (JIL) within 90 days.(Photo jalindia)

real estate

Updated on Nov 07, 2019 04:56 AM IST

New Delhi | ByPress Trust of India

Government to set up Rs 25K crore fund for stuck housing projects

While the government will investRs10,000 crore in the fund, the remaining Rs1 5,000 crore will come in from State Bank of India, Life Insurance Corporation of India and other such institutions, Nirmala Sitharaman said.

Union Finance Minister Nirmala Sitharaman addressing a press conference after a cabinet meeting in New Delhi, India on Wednesday, November 06, 2019.(HT Photo)

india news

Updated on Nov 07, 2019 05:15 AM IST

Hindustan Times, New Delhi | ByHT Correspondent

Centre approves Rs 25,000 crore fund for unfinished housing projects

Funds will be set up as Category-II AIF Fund registered with Securities and Exchange Board of India (SEBI).

Union Finance Minister Nirmala Sitharaman addressing a press conference after a cabinet meeting in New Delhi on Wednesday, November 6, 2019. (HT Photo)

india news

Updated on Jul 18, 2020 11:41 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

Finance Minister hints at booster dose for realty sector

Admitting that the so far announced measures have not helped revive the sentiment in the real estate, the finance minister said since August the government has been making various interventions to revive the market and consumption demand.

Union finance minister Nirmala Sitharaman admitted that therealty sector has been left out of the booster measures announced earlier, she said the sector has a spillover effect on many sectors, especially the core sector.(HT Photo)

real estate

Updated on Nov 06, 2019 01:05 PM IST

Mumbai | ByPress Trust of India

Across China, buying an apartment just became a whole lot easier

At least 30 cities in China have made it easier for workers to obtain highly sought-after residency permits since September in a sign authorities are keen not to let the nation’s real estate sector slow further.

An extreme example was seen last month in Hainan, where almost all non-local residents working in the island province were allowed to obtain a hukou.(Reuters Photo/representative image)

real estate

Updated on Nov 05, 2019 01:57 PM IST

Bloomberg | ByEmma Dong

Share of unsold flats in Gurugram, Delhi increased over last 2 years: Real estate study

The study also identified the reasons for the continued slowdown in realty sector that included factors, such as lack of funding, over-dependence on non-banking finance companies(NBFCs), and the impact of demonetisation on the market.

As per the data, NCR cities falling in Uttar Pradesh performed better and reduced the unsold stock while Delhi’s unsold stock increased by 20% from 10,770 units in the third quarter of 2017 to 12,960 in the same quarter of 2019. (Representative Image)(Burhaan Kinu/HT PHOTO)

real estate

Updated on Nov 05, 2019 02:22 PM IST

Hindustan Times, Gurugram | ByHT Correspondent

Realty firm BDI group enters co-living business, to invest ₹50 cr on setting up 10k beds

Gurugram-based BDI, which has completed more than 15 real estate projects and is currently developing four projects in cities close to the national capital region, has formed a new company Vhive to enter the co-living segment that has gained momentum in the last one year.

The company is charging <span class='webrupee'>₹</span>6,000 to <span class='webrupee'>₹</span>10,000 per bed, excluding electricity bill, in these two co-living centres at Bhiwadi and Alwar.(representative image)(The Tribe)

real estate

Updated on Nov 04, 2019 02:16 PM IST

New Delhi | ByPress Trust of India

Tear gas and petrol bombs no match for Hong Kong property demand

Within a few hours, developer Three Tops (HK) Ltd. had offloaded almost three-quarters of the 53 mainly one-bedroom units on offer, helping to push sales of new apartments over the weekend to the most since late August.

Prospective buyers gather to try and purchase a home at the sales office for the One Eighty residential property, developed by Three Tops Ltd., in Hong Kong.(Bloomberg photo)

real estate

Updated on Nov 04, 2019 12:13 PM IST

Bloomberg | ByShawna Kwan

Take a loan: don’t pay renters’ deposits alone

Digital platforms now provide loans to those who struggle to pay daunting security deposits while renting their dream homes

Many platforms loan you money to pay hefty security deposits when you rent a home. You can complete applications digitally and upload documents without hassles.(Shutterstock)

real estate

Updated on Nov 07, 2019 06:56 PM IST

Hindustan Times | ByJessica Joshi

GOP’s beloved low-income area tax break could get stricter rules

The legislative push comes after a wave of criticism that investors in areas known as opportunity zones aren’t required to report their assets or economic impact to the Treasury Department.

One of the proposals which is being pushed would require funds investing in opportunity zones to provide annual updates to the Treasury Department. Image used for representation(Reuters photo)

real estate

Updated on Oct 30, 2019 12:33 PM IST

Bloomberg | ByKaustuv Basu and Laura Davison

Soho China considers 8 billion dollars office tower sales

An insider said that initial batch of projects worth as much as $3 billion was being shopped to potential buyers with sovereign wealth funds and private equity groups among those being approached.

It has been reported that at least eight office towers in Beijing and Shanghai were being discussed as part of the planned sales. Image used for representation(Bloomberg photo)

real estate

Updated on Oct 30, 2019 12:33 PM IST

ByBloomberg

It now takes 20 weeks to sell a house in Central London

The country’s residential properties are taking the longest to offload since the same period in 2016, shortly after the UK voted to leave the European Union.

real estate

Updated on Oct 30, 2019 12:33 PM IST

Bloomberg | ByLucca de Paoli

Homing in on securities: How to borrow safely against your flat

A house is an asset that can open many doors. See what it takes to mortgage your apartment or raise funds for self-redevelopment.

real estate

Published on Oct 26, 2019 08:25 PM IST

Hindustan Times | ByJessica Joshi

Noida comes up with plot, flat scheme on Diwali

The authority is expected to offer about 450 residential plots of sizes ranging from 100 square metres to 500 square metres in different sectors under the scheme.

Noida authority said it has decided to launch a property scheme that will offer flats and plots for residential, industrial and institutional purposes. (Representative image)(HT Photo)

real estate

Updated on Oct 23, 2019 10:27 AM IST

Hindustan Times, Noida | ByVinod Rajput

Now, co-own your dream holiday home with help from new realty apps

Start-ups are simplifying fractional ownership, allowing more people to invest in assets they couldn’t otherwise afford.

real estate

Published on Oct 21, 2019 04:50 PM IST

Hindustan Times | ByVanessa Viegas

German banks cool on UK office lending as Brexit chaos bites

According to Nicole Lux, author of a survey conducted by the Cass Business School, German lenders accounted for 8% of new loans in the first half, down from 12% a year earlier and 16.7% in the first half of 2016, before the UK voted to leave the European Union.

The UK commercial property market has been blighted by Brexit uncertainty this year.(Mint Photo)

real estate

Updated on Oct 23, 2019 11:09 AM IST

Bloomberg | ByJack Sidders

MP government relaxes licence norms for real estate sector

Madhya Pradesh government on Tuesday approved a proposal to reduce the number of documents needed to get government permission for projects from 27 to five and allowed real estate companies to have one licence for the entire state.

real estate

Updated on Oct 20, 2019 05:08 PM IST

Hindustan Times, Bhopal | ByHT Correspondent

World’s first major co-living fund seeks $825 million in pledges

The venture is seeking 650 million pounds ($825 million) in commitments and plans to invest in six to 10 projects in London.

Co-living developments provide small bedrooms or apartments with large common areas, selling customers on a sense of community.(File Photo)

real estate

Updated on Oct 14, 2019 11:08 AM IST

Bloomberg | ByJack Sidders

India’s poshest areas? Data reveals Tardeo and other surprises

While Tardeo ranks high on the list of India’s most expensive property, neighbourhoods from Chennai, Hyderabad, Bangalore, Delhi and Pune also make it to the list.

Tardeo isn’t a better address than Worli, Prabhadevi or Lower Parel. It’s just that luxury homes are harder to find in that locality.(Hindustan Times)

real estate

Updated on Oct 11, 2019 03:42 PM IST

Hindustan Times | ByMansi Joshi

Housing society can’t be forced to participate in cluster development: Bombay HC

The bench was hearing a petition filed by Jawahar Jyoti co-operative housing society at Panchpakhadi in Thane challenging resolution passed Thane Municipal Corporation (TMC) in its general body meeting on December 10, 2018.

The Bombay high court said a co-operative housing society cannot be forced to participate in any development project.(HT photo)

real estate

Updated on Oct 08, 2019 01:36 PM IST

Hindustan Times, Mumbai | ByKanchan Chaudhari

Shaped by the Metro: How connectivity boots real estate

While we see a rising number of Indian cities improving connectivity by opting for MRTS, let’s look at the pros and cons linked to the new transit system.

The Metro has helped a small city like Jaipur improve its connectivity and overall infrastructure, says Santhosh Kumar, vice chairman at Anarock Property Consultants.((photo by - himanshu vyas / hindustan times))

real estate

Published on Oct 05, 2019 06:35 PM IST

Hindustan Times | ByAishwarya Iyer

UP real estate authority goes online, e-courts to start from November

Officials said once the e-court system is introduced, all the new complaints will be processed under this system.

Officials have said that once the e-court system is introduced, all the new complaints will be processed under the system.(HT Photo)

real estate

Updated on Oct 05, 2019 12:03 PM IST

Hindustan Times, Noida | ByKapil Datta

Housing sales dips 18 per cent in July-September quarter across top 7 cities: Report

Bengaluru saw maximum decline in new supply and housing sales by 35 per cent to 10,500 units.

Housing sales stood at 67,140 units in the year-ago period across seven cities. Housing sales demand was low by 13 per cent in the national capital region at 9,830 units.(Parveen Kumar/Hindustan Times)

real estate

Updated on Sep 30, 2019 02:23 PM IST

New Delhi | ByPress Trust of India

Brexit takes wrecking ball to British housing market

Many investors expect the British housing market to weaken further and don’t want to overpay for property that will be worth less if, for example, Britain leaves the EU without a negotiated deal.

Property prices have slowed down in Britain.(Reuters Photo)

real estate

Updated on Sep 29, 2019 12:27 PM IST

London | ByAgence France-Presse

Residents go with the flow, use smart tech to save water

Smart phone-linked sensors, recycling waste water and literally making water from thin air: Apartment buildings are streamlining water conservation using technology.

real estate

Updated on Sep 30, 2019 03:38 PM IST

Hindustan Times | ByVanessa Viegas

Indiabulls issued notice by Delhi HC over alleged illegalities and violations

The petition alleges that money being loaned out to corporate groups by Indiabulls Housing Finance Ltd (IBHFL) is public money as IBHFL had itself, in the past many years taken huge sums of loans from various public and private banks.

Indiabulls Housing Finance Ltd has been issued a notice by Delhi High Court after hearing a petition against the company over irregularities in financial affairs.(Bloomberg Photo)

real estate

Updated on Sep 28, 2019 12:21 PM IST

New Delhi | ByAsian News International

What NRIs should watch out for when investing in Indian real estate

NRIs looking for end use may get a good deal in the residential segment given the current slowdown. Real estate is an illiquid asset class and faces risks such as delay in construction or default by the developer

real estate

Updated on Sep 25, 2019 12:11 PM IST

livemint | ByAshwini Kumar Sharma

Noida to begin issuing OCs online from Wednesday

The move from the Noida authority comes after the Uttar Pradesh Real Estate Regulatory Authority’s issued a notification stating that all local government bodies should issue an OC to a ready building within seven days or the building with other requisite certificates would be considered OC-approved.

Occupancy certificates would soon be issued by the Noida authority to ready residential buildings through an online system.(HT Photo)

real estate

Updated on Sep 25, 2019 12:16 PM IST

Hindustan Times, Noida | ByVinod Rajput, Noida

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Real Estate

Real estate developers welcomed the government’s move to create a Rs 25,000-crore fund to help complete over 1,600 stalled housing projects, saying it will solve the long-pending problem of homebuyers.

The demand made on Wednesday came ahead of the government later in the evening approving setting up of a Rs 25,000-crore bailout fund to finance as many as 1,600 stalled housing projects.

The apex court said it was necessary to revive the real estate company as more than 20,000 homebuyers had invested in the Jaypee Group, the project had been implemented in part, a substantial number of homebuyers were put in possession.

While the government will investRs10,000 crore in the fund, the remaining Rs1 5,000 crore will come in from State Bank of India, Life Insurance Corporation of India and other such institutions, Nirmala Sitharaman said.

Funds will be set up as Category-II AIF Fund registered with Securities and Exchange Board of India (SEBI).

Admitting that the so far announced measures have not helped revive the sentiment in the real estate, the finance minister said since August the government has been making various interventions to revive the market and consumption demand.

At least 30 cities in China have made it easier for workers to obtain highly sought-after residency permits since September in a sign authorities are keen not to let the nation’s real estate sector slow further.

The study also identified the reasons for the continued slowdown in realty sector that included factors, such as lack of funding, over-dependence on non-banking finance companies(NBFCs), and the impact of demonetisation on the market.

Gurugram-based BDI, which has completed more than 15 real estate projects and is currently developing four projects in cities close to the national capital region, has formed a new company Vhive to enter the co-living segment that has gained momentum in the last one year.

Within a few hours, developer Three Tops (HK) Ltd. had offloaded almost three-quarters of the 53 mainly one-bedroom units on offer, helping to push sales of new apartments over the weekend to the most since late August.

Digital platforms now provide loans to those who struggle to pay daunting security deposits while renting their dream homes

The legislative push comes after a wave of criticism that investors in areas known as opportunity zones aren’t required to report their assets or economic impact to the Treasury Department.

An insider said that initial batch of projects worth as much as $3 billion was being shopped to potential buyers with sovereign wealth funds and private equity groups among those being approached.

The country’s residential properties are taking the longest to offload since the same period in 2016, shortly after the UK voted to leave the European Union.

A house is an asset that can open many doors. See what it takes to mortgage your apartment or raise funds for self-redevelopment.

The authority is expected to offer about 450 residential plots of sizes ranging from 100 square metres to 500 square metres in different sectors under the scheme.

Start-ups are simplifying fractional ownership, allowing more people to invest in assets they couldn’t otherwise afford.

According to Nicole Lux, author of a survey conducted by the Cass Business School, German lenders accounted for 8% of new loans in the first half, down from 12% a year earlier and 16.7% in the first half of 2016, before the UK voted to leave the European Union.

Madhya Pradesh government on Tuesday approved a proposal to reduce the number of documents needed to get government permission for projects from 27 to five and allowed real estate companies to have one licence for the entire state.

The venture is seeking 650 million pounds ($825 million) in commitments and plans to invest in six to 10 projects in London.

While Tardeo ranks high on the list of India’s most expensive property, neighbourhoods from Chennai, Hyderabad, Bangalore, Delhi and Pune also make it to the list.

The bench was hearing a petition filed by Jawahar Jyoti co-operative housing society at Panchpakhadi in Thane challenging resolution passed Thane Municipal Corporation (TMC) in its general body meeting on December 10, 2018.

While we see a rising number of Indian cities improving connectivity by opting for MRTS, let’s look at the pros and cons linked to the new transit system.

Officials said once the e-court system is introduced, all the new complaints will be processed under this system.

Bengaluru saw maximum decline in new supply and housing sales by 35 per cent to 10,500 units.

Many investors expect the British housing market to weaken further and don’t want to overpay for property that will be worth less if, for example, Britain leaves the EU without a negotiated deal.

Smart phone-linked sensors, recycling waste water and literally making water from thin air: Apartment buildings are streamlining water conservation using technology.

The petition alleges that money being loaned out to corporate groups by Indiabulls Housing Finance Ltd (IBHFL) is public money as IBHFL had itself, in the past many years taken huge sums of loans from various public and private banks.

NRIs looking for end use may get a good deal in the residential segment given the current slowdown. Real estate is an illiquid asset class and faces risks such as delay in construction or default by the developer

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