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SBI Reduces Home Loan Rates; New Rates Range between 8.35% to 8.6%

SBI Reduces Home Loan Rates; New Rates Range between 8.35% to 8.6%

May 08,2017
With the goal to boost the affordable housing segment, the State Bank of India (SBI), the country's largest lender announced a rate cut for home loans on Monday. The rate cut equivalent to 25 basis points will take the lending rate to 8.35 percent for home loans of INR 30 lakh. The new rate will be effective from May 9, 2017. Further, eligible home loan customers can also avail of an interest [...]
Godrej Properties sells 1000 flats in 3 new projects; Projects in Greater Noida and Pune a hit

Godrej Properties sells 1000 flats in 3 new projects; Projects in Greater Noida and Pune a hit

May 04,2017
Godrej Properties has revealed that it has managed to sell over 1,000 apartments since March in its three new housing projects at Mumbai, Pune and Greater Noida. The sale, which is valued at INR 1,000 crore, involved sales of 130 flats in the Mumbai project, 500 flats in Greater Noida and over 450 units in Pune. Godrej Properties said in a statement it has "sold over 1,000 apartments acros [...]
Noida Authority Plans Meetings with builders, buyers to resolve stuck projects; Starts with Amrapali

Noida Authority Plans Meetings with builders, buyers to resolve stuck projects; Starts with Amrapali

Apr 10,2017
With the goal to resolve the issue of delaying handover of flats to thousands of home buyers in Noida and Greater Noida, the authorities of Noida and Greater Noida are starting to conduct project-wise meetings with builders and home buyers from Monday. Officials said that they will discuss the issues delaying the project in detail with both parties.   There are 86 under-construction group h [...]
DDA to Announce 2016 Housing Scheme Around Diwali

DDA to Announce 2016 Housing Scheme Around Diwali

Aug 28,2016
The Delhi Development Authority (DDA) will announce the launch of “Housing Scheme -2016” with 12,000 flats in October around Diwali time. Out of total number of flats, most of them in Rohini, Dwarka, Narela, Vasant Kunj and Jasola, 10,000 flats are unoccupied from 2014 scheme and 2,000 flats have been lying vacant. Most of the flats are one-bedroom LIG flats and no new flats will be [...]
7th Pay Commission Likely to Have Ripple Effect on Real Estate Sector

7th Pay Commission Likely to Have Ripple Effect on Real Estate Sector

Jun 30,2016
Whenever the government decides to raise the salaries of its employees, there tends to be a ripple effect in the economy. The implementation of 7th Pay Commission recommendations is expected to benefit 47 lakh Central government employees and 52 lakh retired employees, and result in additional expenditure of INR 102,100 crore. The change in salaries will increase home loan eligibility of gover [...]
Real Estate Market Slowdown Pushes Gurgaon Government to Cuts Circle Rate by 15%

Real Estate Market Slowdown Pushes Gurgaon Government to Cuts Circle Rate by 15%

Jun 27,2016
Amid slowdown in the real estate market, the Haryana Government has decided to cut circle rates in Gurgaon by 15%. The city has been witnessing slow down in the real estate market for the past three years, which has led to fall in property transactions and thus revenue for the government. This is the first time in the history of Gurgaon that the circle rates have been slashed. In the previous t [...]
Navi Mumbai Airport Construction to Start Soon

Navi Mumbai Airport Construction to Start Soon

Jun 21,2016
City and Industrial Development Corporation (CIDCO) on Monday awarded contracts for land leveling for the construction of Navi Mumbai International Airport (NMIA). The contracts awarded to Supreme Infrastructure and Gayatri Projects valued at INR 398 crore and INR 700 crore, respectively will involve leveling of 80-metre hill in the 1,160 hectares area allocated for the airport. Land-levelling [...]
SEBI Proposes to Ease Real Estate Investment Norms; Move May Revive Stalled Projects

SEBI Proposes to Ease Real Estate Investment Norms; Move May Revive Stalled Projects

Jun 18,2016
The Securities and Exchange Board of India (SEBI) on Friday proposed relaxation of rules related to Real Estate Investment Trusts (REITs) that would allow them to invest more in under-construction projects.   The markets regulator has proposed to change rules allowing REITs to invest up to 20% of their corpus, instead of 10%, in under-construction realty projects. The move could potentially [...]
Real Estate Bill to Protect Buyers against Discrimination on Religion, Sexual Orientation and Diet

Real Estate Bill to Protect Buyers against Discrimination on Religion, Sexual Orientation and Diet

Jun 13,2016
In a move to eliminate discrimination in the real estate sector, the central government is planning to add an anti-discrimination clause in the new Real Estate (Regulation and Development) Act, 2016 (RERA). If added, the clause could lead to jail terms or fines to builders found to discriminate against buyers based on their caste, ethnicity, gender, sexual orientation, or religion, among other thi [...]
Navi Mumbai to Open Undeveloped Industrial Plots for Residential Projects

Navi Mumbai to Open Undeveloped Industrial Plots for Residential Projects

Jun 12,2016
Maharashtra government’s urban development department has proposed a plan, under which, underdeveloped industrial units or plots can be used for residential purposes, on a condition that a part of the land is used for affordable housing.   In order to convert the industrial land to residential area, owners will be required to pay a premium of 20% of the developed land as per the Ready [...]

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