The central assistance for construction of these houses would be to the tune of Rs 1,188 crore.
The Supreme Court on Monday asked real estate major Unitech to pay interest to 39 flat buyers who chose to withdraw after the builder`s failure to deliver flats as promised.
India's largest realty firm DLF Ltd will invest about Rs 3,500 crore this year to complete construction of almost all of its existing housing projects, a senior company official said.
Private equity investments in the real estate sector increased by 26 percent during 2016 and touched a nine-year high of nearly Rs 40,000 crore, according to property consultant Cushman & Wakefield.
Realty major DLF's net debt rose by Rs 1,257 crore to Rs 24,397 crore in the third quarter of the current fiscal as its cash-flows were hit due to fall in housing sales amid negative sentiment in the property market post demonetisation.
Hotel Leela Ventures on Tuesday said it is taking "legal steps" over the eviction notices to it by the Airport Authority of India over two land plots near Mumbai International Airport.
The Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) township in Bharuch has become country's first ever "cashless township", as over 10,000 residents have embraced various digital mode of payments instead of cash.
With buyers entitled to seek relief under the Real Estate Act, 2016 with effect from the first of May this year, the central government has cautioned the States of a serious situation of vacuum arising if necessary institutional mechanisms, as required under the Act were not put in place before that.
There is good news for the first home buyers.The government is offering a subsidy of Rs 2.4 lakh for a loan tenure of up to 20 years.
The realty major Supertech is in fresh trouble as the Greater Noida Industrial Development Authority(GNIDA)on Monday began sealing 382 flats and villas built at SupertechCzar Suites in Greater Noida.
Delhi Urban Shelter Improvement Board today approved a proposal to construct 6,178 flats for economically weaker section (EWS) in Lajpat Nagar, Bhalaswa, Dev Nagar, Mangolpuri and Ambedkar Nagar.
Ruling out rollback of the proposal to restrict tax incentive for second home to Rs 2 lakh per annum, Revenue Secretary Hasmukh Adhia on Saturday said there is no point in subsidising purchase of second property by those who have surplus funds.
The Finance Minister Arun Jaitley while presenting the Budget 2017-18 in Parliament on Wednesday said that the scheme for profit linked income tax exemption for promoters of affordable housing will be broad based.
Hailing the government's decision to grant infrastructure status to affordable housing segment, experts believe it will provide ample push for the sector as developers will now be able to get access to preferential and lower borrowing rates from banks.
The government also plans to extend the basket of financial instruments in which the capital gains can be invested without payment of tax.
Realty major DLF Ltd today said that its shopping mall in Noida has been included in the CBRE's list of 22 best retail projects globally for creating an environment to attract shoppers and retain them.
Realty major Tata Housing is eyeing sales target of Rs 450 crore by 2020 from its luxury housing project in Himachal Pradesh, as per a top company official.
The corporate family rating of city-based realty firm Lodha Developers (LDPL) has been downgraded by global ratings agency Moody's Investors Service to B2 from B1, citing reasons of weak liquidity position and high refinancing risk for such rating.
The real estate sector is likely to witness further consolidation as property sales and demand have been affected post demonetisation, according to realty consultant JLL India.
Disruptions caused by demonetisation and the general caution on the part of buyers will hit property sales in India by at least 20-30 percent in 2017, Fitch Ratings said in its latest report.