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Co-living is millennials new love | Weekly Roundup | RealtyMyths

Welcome back to the weekly news roundup! Let’s see what’s in the bulletin for this week. Looks like co-living has become a perfect choice for many millennials. In a recent report titled ‘Insights on Co-living – An Asia-Pacific Perspective’ by Knight Frank, Mumbai occupies the fifth position in Asia Pacific Co-living Index while New Delhi is ranked 11th and Bengaluru 19th. Greater Noida Industrial Development Authority (GNIDA) issued a notice to GaursonsHitech Infrastructure for fitting artificial carpet in the mandatory ‘green’ area of its housing project. This marks the third notice which has been sent to the company in the past two years with the first being sent in December 2017. According to the property consultant Anarock, South Mumbai’s Tardeo has become India’s mos...

Budget 2019: Allocation for Housing & Urban Affairs Ministry up by 12% | Weekly News Roundup

We’re back with another weekly news roundup! Let’s begin.  On July 10, 2019, the West Bengal assembly passed an amendment to the state’s Apartment Ownership Act, to enable associations of a housing project to form federations, to look after the common areas. A pre-bid conference will be held on July 15, 2019, in Greater Noida to address queries of bidders interested in an upcoming international airport at Jewar in Uttar Pradesh. The Delhi High Court, on July 10, 2019, dismissed a petition challenging the AAP government’s proposal to make metro rail rides free for women and declined to entertain the plea, also imposed a cost of Rs 10,000 on the petitioner. The Housing and Urban Affairs Ministry has received a 12% hike in budgetary provisions in the Union Budget 2019, while allocations for...

Home and Soul Delivers 1st Phase of ‘Beetle Lap’ on Yamuna Expressway

Bringing much cheer to the lives of the buyers of its group housing project ‘Beetle Lap’, the Home and Soul, NCR’S leading real estate developer has offered possession of its first phase. Launched in the month of November 2013, Home and Soul had promised the delivery of ‘Beetle Lap’ in December 2018.   Located in Sector 25, on the Yamuna Expressway, Noida, this is the first ever group housing project on the 165 km long Expressway which has received the completion certificate from Yamuna Expressway Industrial Development Authority. The project is developed by Royal Hometown Planners Private Limited under its umbrella, Home and Soul; it started with an initial investment of INR 200 crore. The project provides a total of 460 Units including 4 Penthouses and 456 Flats. ...

Housing Project Self-Completion – Far-Fetched or Viable? – RealtyMyths

Self-redevelopment of old, dilapidated housing projects in cities like Mumbai is a much-talked-about new phenomenon and is rapidly catching on because it is, in many cases, a practically possible proposition. Self-completion of stalled projects is, however, another ballgame altogether. The issue of stalled or delayed project is one of the major pain points of the Indian real estate sector currently. With buyers feeling the heat of delays, it is not surprising that some are now considering completing the projects themselves. This falls within the realm of possibility if the project in question has sufficient cash flows but is delayed for other reasons. Rather than being victims, some buyers prefer to take matters into their own hands and are forming groups, hiring contractors and even consu...

Vacant Affordable Housing – Causes (and Solutions)?

Anuj Puri, Chairman – ANAROCK Property Consultants In any discussion about affordable housing in India today, the fact that a lot of such housing is actually lying vacant is bound to crop up. One may point out that, especially with the Government’s avowed intention of providing Housing for All by 2022, this supply should logically go towards bridging the affordable housing gap. However, it is obviously not that simple or it would already have happened. A lot of this budget housing inventory is lying vacant for good reasons. Before we get into the reason, let’s take a quick look at the numbers. Around 237,000 units across top 7 cities belonging to the affordable housing segment (units priced less than INR 40 lakh) were unsold as of Q2 CY 2018. This number pertains only to ...

Trump Card in Indian Real Estate market

Even though Donald Trump, in India, is referred more for his fiery speeches and controversial statements as the US Presidential Candidate than the global business tycoon, it did not stop the Indian real estate companies to develop projects with his name. Real estate firms Lodha Group and the Panchshil Group are both developing their own Trump Towers in India. A 75-storey tower called the Lodha Trump Tower is being raised in the upmarket Worli area of Mumbai, while Panchshil Group is developing two 23-storey Trump Towers in Pune, in the state of Maharashtra. Both Lodha Group and Panchshil Group tied up with the Trump Organisation for the licensed use of Trump’s brand name in their projects. This association happened long before Donald Trump disclosed his Presidential Candidature; Lodha Grou...

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