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 »
While the Union government was forced to strengthen its rules issued under the Real Estate (Regulation and Development) Act, 2016 (RERA) following much pressure from citizen groups, the dilution of the rules to give leeway to builders has started at the level of various states. So far, the state governments ... Read More »
The problem is that the move of demonetisation has sort of synonymised cash transactions with black money. Let us take few facts into consideration. “Between the CSSO and NCEUS data, anything between 80 to 90 percent of businesses in India lie in the unorganised sector, which also contributes to half ... Read More »
Magicbricks Bureau The right time to be considered to exit a real estate investment is when it pays off, probably in a time duration of at least 3-4 years. There is no scientific method to calculate but one should exit a property based on its return on investment achieved and ... Read More »
Kusum is an 35-year old working woman. She has been saving diligently to buy a house in Mumbai and has almost clinched a deal. She has shortlisted a property in the suburbs, finished the paperwork for the home loan and is ready to make the down payment. However, since demonetisation ... Read More »
There has been unwarranted fear mongering in the country post the announcement of demonetisation. However, if we take a long term view on issues, demonetization will help bring a positive change in the real estate sector. While the industry will stand to gain from the shift towards a more transparent and ... Read More »
KOCHI: Kandukuri Vinoda, a home-maker in Telangana, was one of the early victims of demonetisation drive as she committed suicide. She had Rs 54 lakh cash after selling land. There is a co-relation between real estate transactions and demonetisation. The former being often high-value ones, the customer will always be ... Read More »
