Latest Real Estate News Delhi, India - Real Estate market in india

Housing for All

Signature Global launches Orchard Avenue 2 in Gurugram

Signature Global, the pioneers of affordable housing with an aim to contribute the most towards Prime Minister’s vision of ‘Housing for all 2022’, created the history by announcing ahead of the festive season its 15th affordable residential project Signature Orchard Avenue 2 in Sector 93, Gurugram with an investment of Rs 175 crore. Spreading to an area of 5 acres the project has easy and close connectivity to NH8, Pataudi Road, Dwarka Expressway, KMP Expressway, IGI Airport, IMT Manesar. Expected to be completed in 4 years, the project is under the Haryana Affordable Housing Scheme (HAHS). Designed by Padma Bhushan Architect Hafeez Contractor Orchard Avenue 2 offers in all 720 units including 680 2BHK units and 40 3 BHK units with price ranging from Rs 21.96 lakh to 26.15 lakh. It is the ...

Target of Housing For All by 2022 will be met two years in advance: Hardeep Singh Puri

The mega mission of the Modi government to provide a roof over the head of each Indian household by 2022 is a highly ambitious agenda that faces formidable challenges but Minister of State (I/C) for Housing and Urban Affairs Mr. Hardeep Singh Puri set the temperatures soaring further high when he announced that his ministry is all charged up to meet this target two years in advance, that is, by 2020. Mr. Puri also made a significant point that while in the Congress-rule, urban rejuvenation programs received a sanction of Rs 150000 crore, in the present dispensation’s rule this figure has gone up by six times. Soon out of 100 Smart Cities announced, the government will be able to roll out 50 smart cities by December 2019, he revealed. “The 2022 target of a pucca home with basic facilities i...

The Government is working towards strengthening RERA further: D S Mishra

Speaking about the Real Estate Regulation Act at the 15th National Convention of  NAREDCO, Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affair revealed that the government is working towards amending several provisions of RERA which will benefit all stakeholders, be it developers or homebuyers.  The MoHUA had organized several regional workshops of RERA which were attended by him as well as Minister, MoHUA. “We had received very valuable inputs at these workshops. Based on these inputs, we have felt that there is a need to bring about many changes in RERA Act. We will soon make relevant amendments in the law.  We will initiate discussions again and make changes in the law wherever required to make it more effective,” Mishra elaborated. “When we did regional workshops, we ...

Modi’s ‘Housing For All’ Receives Big Boost at NAREDCO’S 15TH National Convention

“Providing a house with basic amenities is the topmost priority of the government led by Prime Minister Shri Narendra Modi for which all stakeholders of the real estate sector need to make their contribution. In this context, I compliment NAREDCO for taking up a very pertinent agenda for its deliberations during its national convention,” said G Kishan Reddy, Union Minister of State for Home Affairs, speaking at the 15th National Convention of NAREDCO organised on the theme Housing For All 2022: Real Estate Inflection Point: Readying for the Future. He said that to meet this challenge, infrastructure needs to be built on a war footing in both cities and villages. As the pace of urbanization is rising in the country that boasts the second-largest urban population in the world, efforts need t...

Model Tenancy Act 2019: Everything you need to know

– by Arti Chaudhary As a tenant or a landlord, you must have known about the Model Tenancy Act 2019. If not then no worries!!! Here is the detailed information about Model Tenancy Act (MTA) that everyone should know. Due to opacity in the housing sector, the housing ministry suggested a policy that will be acting as the model act for both states and union territories, just after the finance minister Nirmala Sitharaman affirmed that several reformatory measures will be launched by the government, in order to promote rental housing. Due to current rent control laws, landowners deny from renting their properties, as the development of the property gets restricted. In consideration of it, policy asserted by securing the liabilities of landowners and tenants, transparency can be brought i...

Union Budget 2019: Emphasizes ease of doing business and ease of living

by Anshuman Magazine The government has announced a progressive budget that will go a long way in the creation of a well-balanced and empowered economy. The Finance Minister Mrs. Nirmala Sitharaman in her first-ever budget presentation struck a fine balance between ease of doing business and ease of living in the country. While expressing confidence that the size of our economy will touch USD 3 trillion by end of the present financial year, she also expressed hope that we will be able to become a USD 5 trillion economy (world’s 3rd largest) by 2024-25. She also recognized and appreciated the role played by India Inc in driving the self-sufficiency goals of the country and being a partner in achieving national goals related to employment generation, wealth creation and sustained growth. The...

Union Budget 2019: Real estate has a few hits and several misses

by Anuj Puri Overall, Union Budget 2019-20 is a balanced one with more of a long-term vision as a follow-on of the Interim Budget. It has obviously been formulated to restore confidence in the India growth story as a whole, and more importantly within India Inc. As far as real estate is concerned, the budget had a few hits and several misses. Infrastructure stayed at the top of the government’s agenda. This is, of course, significant, since infra development is one of the main propellers for economic growth and real estate benefits both directly and indirectly. The new FM had an uphill task of balancing priorities in Modi 2.0’s maiden budget. Most sectors – including real estate – stridently sought concessions to kick-start stagnant consumption and investments. Steering t...

Union Budget 2019 Boost To Real Estate: Affordable Housing Gets New Lease Of Life

Union Finance Minister Nirmala Sitharaman, while presenting her maiden budget and the first budget of Modi 2.0 government, announced an additional rebate of Rs 1.5 Lakh on Housing Loan Interest. Being considered as a big boost to the real estate sector, this step will encourage first-time homebuyers and will enhance sales. Currently, this rebate was limited to Rs 2 Lakh only. So with this announcement, a housing loan for a home valued up to Rs 45 Lakh, the homebuyers will now avail a rebate of Rs 3.5 lakh on the home loan interest amount. This benefit will be available for home loans taken till March 2020 The Finance Minister also proposed some relief to non-banking finance companies that are facing a crisis of confidence after banks showed reluctance in lending them following the recent I...

Real Estate needs approximately Rs 35,000-40,000 cr of financial stimulus for its revival

by Ramesh Nair The current government’s progressive work implemented during its first term has helped in the sector’s revival. While it has helped in the residential segment’s revival, it has put India’s office and retail segments, and emerging segments such as logistics and warehousing on a global map. The continuity of reforms for the next five years is sure to infuse growth and improve buyers’ and investors’ sentiment. Implementation of real estate regulation three years back followed by the Goods & Services Tax, the next year, brought in the required structural reforms in the economy. Government programmes such as ‘Housing for All by 2022’, credit subsidies offered under the Pradhan Mantri Awas Yojana (PMAY), tax incentives for first time homebuyers and special projects such ...

Industry status is the need of hour for the revival of Real Estate sector

by Mr. Rakesh Reddy The real estate sector has witnessed many transformative reforms like RERA, GST, and relaxation of FDI over the past few years. These reforms have revived consumer confidence and laid the foundation for massive growth prospectus. The real estate sector expects the union budget to take supportive measures that will further improve the momentum the industry has gained. Granting of infrastructure status to the entire real estate sector is one of the most pressing expectations the industry has from the union budget. In fact, granting infrastructure status on affordable housing has witnessed many reputed developers launching projects in the affordable segment. Giving the entire real estate sector industry status will have a similar impact. It will aid them to avail financing...

Housing for All 2022: Will the Mission Achieve its Deadline? – RealtyMyths

by Akhilesh K Prasad Launched in early 2015, the “Housing for All by 2022” is a flagship project of the Modi government. It seeks to address the housing requirements of Economically Weaker Sections (EWS), Lower Income Groups (LIG) and Middle Income Groups (MIG). The government recognises that there is an urgent need for urban housing as the number of people migrating to urban centres in search of employment and better opportunities is likely to increase manifold in the coming years. The project struck a chord with beneficiaries and those in anticipation. It was listed among the reasons for Modi government winning a second term in the recently concluded general elections. However, ever since its inception, the scheme has been under constant scrutiny and has had to face several challenges bo...

Shriram Housing Finance Ltd. Assigned CRISIL AA/Stable Rating

Shriram Housing Finance Limited, a 77.25% subsidiary of Shriram City Union Finance Limited, is assigned ‘CRISIL AA/Stable’ for Rs 500 crore non-convertible debentures and Rs 1,000 crore long-term bank facilities by CRISIL. As per CRISIL, “the rating centrally factors in expectation of strong financial, operational and management support from the parent, both on an ongoing basis and in the event of any distress. SHFL is also expected to benefit from the Shriram group’s ecosystem, which SHFL will further tap for business growth and operational efficiencies. SHFL’s capitalisation metrics are also adequate while the resource profile is diversified. However, these strengths are partially offset by modest asset quality, average profitability and limited track record post-...

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