The apex court directed to refund the money to 38 buyers as buyers refuse to rely on the assurance of possession by 2017 and has directed Unitech to deposit Rs. two crore more in registry in the next four weeks.
Office space leasing in seven major cities touched a 10 quarter high at 11 million sq ft during July-September with corporates remaining upbeat on their expansion plans, according to property consultant CBRE.
The financial city of India, Mumbai was the only city from the country to feature in the latest Global Power City Index that was released by the Mori Memorial Foundation's Institute for Urban Strategies.
Real-estate firms today got a rap on their knuckles from the Supreme Court for making tall claims to purchasers which remained unfulfilled due to inordinate delay in completing the housing projects.
For the fifth consecutive year, British capital London has topped the 2016 Global Power City Index with India's financial hub Mumbai coming in at 39th position on the list that ranks the world's cities on business, innovation and culture.
Concerned over the rising land cost, realty experts believe that growth in infrastructure development will result in bringing the prices down.
India will require investments of USD 1 trillion over the next 5-7 years to meet demand from infrastructure and housing with banks, private equity and NBFCs likely to be main sources of funds, says a report.
Realtors' body NAREDCO today demanded tax relief and increase in land supply to develop affordable homes so as to help achieve the government's 'Housing for All' objective.
Mumbai-based realty firm Lodha Group on Thursday said it has sold homes worth Rs 690 crore during last 10 days in its township project at Palava.
PNB Housing Finance has received capital markets regulator Sebi's go ahead to raise Rs 2,500 crore through an initial public offering.
CBI has filed a case of corruption, cheating and conspiracy against the Managing Director of Repco Housing Finance Limited and three other top officials besides two persons of a partnership firm and seized incriminating documents in searches.
Taking its experience in selling properties of Sahara and PACL for Sebi a step further, real estate advisory firm HDFC Realty is considering helping banks sell properties of defaulters and recover loans.
The Centre will notify the rules of the Real Estate Act soon, moving another step toward operationalising the legislation which seeks to regulate the housing sector, bring transparency and help protect consumer interests.
Real estate developers across the country are unlikely to witness higher sales this festive season even as the Reserve Bank has slashed interest rate by 0.25 percent, according to a report.
India is not a banana republic and builders will have to pay penalty to all home buyers for delay in delivery- National Consumer Disputes Redressal Commission's judgment on Friday drew the point home.
Dewan Housing Finance Corporation Ltd (DHFL) on Thursday reduced lending rate by 0.2 percent to 9.35 percent to cash in on the festival fervour.
The Diwali real estate sale starts from October 5 and will continue till October 21.
RBI should impress upon banks to pass on benefits of the rate cut to customers by lowering interest on home loans for boosting housing demand, realty developers and consultants today said while hailing the policy move at the time of festivals.
Housing sales fell by 1-2 percent in the seven major cities during the first half of this year, while supply increased by 10 percent over the preceding six months, according to property consultant CBRE.