Prices of residential properties will fall and real estate sector will face the negative impact of demonetisation of Rs 500 and Rs 1,000 notes over the next 1-2 years, Fitch Ratings said Thursday.
Claiming that the demonetisation of Rs 500 and Rs 1,000 notes will have no bearing on the real estate sector in India, an office-bearer of a national body of developers/promoters on Thursday said the sector will rather move up.
Demonetisation of Rs 500 and Rs 1,000 notes will expand the size of economy, increase revenue base and make the system cleaner while preserving its credibility, Finance Minister Arun Jaitley said today.
Realty stocks plunged up to 20 percent in early trade on Wednesday with scrips of Unitech and DLF taking a major hit following the government's measures to clamp down on the black money menace.
Unorganised builders and secondary (resale) property market would be adversely impacted following the government's decision to demonetise Rs 1,000 and Rs 500 notes with effect from midnight, according to real estate developers and consultants.
As you know that Rs 500 and Rs 1000 will go out of use from Tuesday midnight. The flushing out of high denomination notes from the economy is going to have an immediate impact on property prices.
Taking a serious note of the deteriorating air quality in Delhi, the National Green Tribunal (NGT) on Tuesday banned all construction activities for one week in the Delhi-NCR region.
Realtors' body CREDAI today opposed the NGT order banning construction activities in Delhi-NCR saying this will not help in solving the pollution problem and rather impact adversely the delivery of real estate projects.
Srei Infrastructure Finance has posted an over five-fold jump in consolidated net profit at Rs 61.87 crore during second quarter ended September 30.
Gurgaon real estate market has received over USD 1 billion in investments from developers and institutional investors so far this year, according to global property consultant CBRE.
Private equity investment in the real estate sector has grown 22 percent during January-September this year to Rs 28,300 crore, from Rs 23,200 crore a year ago, reflecting improved confidence among investors to make larger investments, says a Cushman & Wakefield report.
Beneficiaries have to visit the nearest CSC for seeking assistance for seeking benefits of PMAY(Urban) online.
Private equity (PE) investments in the real estate sector increased by 22 percent to Rs 28,300 crore in the first nine months of this year with investors' rising interest in the office and retail assets, says property consultant Cushman & Wakefield.
Godrej Properties on Wednesday said it has sold villas worth over Rs 300 crore on the first day of the launch of 100-acre township in Greater Noida, bucking the existing slowdown in the NCR property market.
Soon, you will have to pay lower property registration fees and even get payment of compensation if builder delays in handing over your property.
The Centre on Monday notified the rules for Real Estate Act, that seeks to regulate the housing sector besides bringing transparency and ensuring timely completion of projects, which will be applicable for five Union Territories.
Southern cities dominated the office absorption pie with Bengaluru at the top.
The Centre has approved construction of around 84,500 more affordable houses for the urban poor in five states, including West Bengal and Punjab, with a total investment of Rs 3,073 crore, of which central assistance will be the tune of Rs 1,256 crore.
The new law to prohibit benami transactions, which also provides for up to 7 years imprisonment and penalty for those indulging in such activities, will come into effect from November 1.
Implementation of the Smart City project in 60 towns will entail an investment of Rs 1.35 lakh crore and 20 cities have started rolling out their schemes, says Urban Development Minister M Venkaiah Naidu.