Wood said there is no evidence in India, as yet, of the virus curve flattening. Christopher Wood, global head of equity strategy at Jefferies, says high-frequency data is already showing a pickup in activity in Indian economy and easing of lockdown is a clear positive, ETNOW reported. The comment came after Wood’s increased Jefferies’ weightage […]
Indian real estate builders cannot sell flats and homes below circle rates as income tax law does not allow that, realtors’ associations have said in response to Commerce Minister Piyush Goyal’s call to builders to lower home prices to clear inventories. Realtors body CREDAI and NAREDCO, which together have 25,000 members, said there is an […]
PNB Housing Finance Limited said it has taken possession of about 19 acres of land and 138 unsold units of a Gurgaon-based project owned by Vipul Ltd following a default by the developer on a Rs 377 crore loan. “The borrower failed to repay the amount, and we have taken constructive possession of the property […]
With social distancing and work from home (WFH) becoming a norm in many cities, property developers plan to launch larger apartments where extra rooms can be used as a home-office. Godrej Properties, Shapoorji Pallonji and others are either planning or evaluating to launch larger apartments.Godrej Properties, part of Godrej Group, is “evaluating this opportunity carefully”, […]
Just before the lockdown began, Ritesh Chandra managed to sell his ancestral house in Uttar Pradesh. To avoid paying capital gains tax, this Delhi-based financial professional plans to reinvest the proceeds in another property in the National Capital Region (NCR), Lucknow or Jaipur. He has searched online and prepared a list of prospective sellers. “I […]
Some marquee brands are looking at moving back to streets from malls because of Covid-19. Covid-19 is starting to reverse the trajectory of modern retail in India — from streets to malls was the big shift that started in early 2000, now at least some marquee brands are looking at moving back to streets from […]
After the cut in Repo rate, home developers are hoping that the situation for home-buyers might improve further as home loan interest rates are expected to come down further. Will banks act fast and pass on the benefits? Now the situation for home-buyers might improve further as home loan interest rates are expected to come […]
Housing sales fell 11 percent during the last fiscal year across nine major cities of the country, but the demand for ready-to-move-in residential units rose while that of under-construction flats dipped, according to online property brokerage firm PropTiger. The share of ready-to-move-in inventory as a percentage of total sales rose to 20 per cent during […]
The share of ready-to-move-in inventory as a percentage of total sales rose to 20 per cent during the 2019-20 financial year as against 15 per cent in the previous fiscal. Demand for ready-to-move-in housing units is rising as project delays by multiple builders have shaken the buyers’ confidence in the property market. According to a […]
In a relief to real estate industry, Finance Minister Nirmala Sitharaman on Wednesday announced that the deadline for completion of projects will be extended by up to six months for all registered projects expiring on or after March 25, 2020, without individual applications, treating the coronavirus outbreak as an event of ‘force majeure’. Dr. Niranjan Hiranandani, President, ASSOCHAM […]