MUMBAI: A builder can terminate a flat purchase agreement by giving just a week’s notice on email to the buyer who defaults on an installment. But the developer can refund the money without interest to the purchaser at leisure, within six months. This is one among several controversial clauses in ... Read More »
PANAJI: After the demonetization announcement and with the Real Estate Regulation Act(RERA) waiting in the wings to make an entrance, numerous aspiring home seekers across the state are stuck in a dilemma. Conflicting views and statements that the cost of real estate will fall drastically has made first times purchasers ... Read More »
Americans enjoy an unusual kind of security—their big, domestically-focused economy isn’t very vulnerable to external shocks. But most people around the world don’t have that luxury: their jobs, businesses and livelihoods are very sensitive to events in far-off lands, and the choices of leaders they don’t elect. Right now, much ... Read More »
Arvind Subramanian says the Indian economy, as far as macroeconomic condition is concerned, is very stable. As the country comes to terms with the demonetisation of Rs. 1,000 and old Rs. 500 notes, Chief Economic Adviser Arvind Subramanian spoke at an ASSOCHAM event. Excerpts from the press conference >> It’s ... Read More »
As marijuana legalization spreads across the country, the financial impact has extended throughout some areas of the economy. One sector seeing a big benefit is industrial warehouses. Because large facilities are needed to grow and store marijuana — and because local laws often limit where such businesses can be located — industrial ... Read More »
MUMBAI: The Maharashtra government has notified draft rules for the regulator to be set up under the Real Estate Regulatory Act (RERA). Among the key proposals aimed at helping homebuyers, there’s much-needed clarity on transfer of project’s land in favour of association entity of homebuyers. Introduction of dividable and non-dividable ... Read More »
MUMBAI: Draft rules of the new Real Estate (Regulation & Development) Act, 2016, (RERA), notified by the Maharashtra government on Thursday have been diluted to favour errant builders, property experts and housing activists said. They claimed that they lacked transparency and flat buyers will continue to remain in the dark ... Read More »
AMBERNATH, India—Saturdays are typically busy at the sales office of Patel’s Planet, one of the many new apartment developments in the suburbs surrounding Mumbai where India’s fledgling middle class has been flocking in recent years. But last Saturday, it was virtually deserted. Prateek Patel, the cousin of the developer, complained ... Read More »
Dombivli -based A. Gandhi is finding it difficult to sell his two bedroom flat, after the central government demonetised the Rs 500 and Rs 1000 notes in November. “My flat has been on the market for nearly four months and I had got to the point of signing the agreement ... Read More »
The demonetisation drive by the Modi government has had an impact on the real estate sector with the number of enquiries and walk-ins by homebuyers falling by almost half as they postpone purchase decisions and wait for a further fall in prices. A substantial decrease in enquiries and walk-ins has ... Read More »
According to the Real Estate (Regulation and Development) Act, 2016, (RERA) all the state governments were to put in place the Act’s rules and regulations for their respective states by 31 October. But the deadline was missed by most states. On 23 November, the Ministry of Urban Development finalised the ... Read More »
There are several reasons why black money exists within real estate, and some of these are natural consequences of legacy structural issues. The most complex issue is that of tax. Taxation in real estate is considerably regressive. The corrupting areas in real estate – land transactions, for the most part, ... Read More »
