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

SARE Homes

ELAN Group appoints Raj Kumar Singhal as the CEO

Elan group, one of the fastest growing real estate development companies in NCR, has taken Mr. Raj Kumar Singhal on board as its Chief Executive Officer (CEO). Mr. Singhal has been an indispensable resource and a one-man cavalry with 30 years of experience in construction & real estate space. He has worked with Industry leaders like Larsen & Tourbo, DLF Group, SARE Homes and M3M in the past. He has unparallel knowledge and deep insight of Real Estate market with cross-functional expertise in Design, Sales/Marketing, HR, Finance, Construction & Legal domains. In his new role as the CEO, he will be heading the operations of the Group for enhanced customer focus and best in segment Real Estate products & Services. Speaking on the appointment, Director of Elan Group, Mr. Ravish...

Amritsar becoming the next hot realty destination

Amritsar the second-largest city of Punjab boasts of the Golden Temple and attracts more visitors than the Taj Mahal. At present, the city has ample supply of residential units, with many new township projects launched along the national highway and airport. The city has a number of malls, multiplexes and townships under construction in Amritsar, which are attracting buyers towards it. There are also approximately 25,000 industrial units in Amritsar district.  The old city area along the Civil Lines is an established residential area with plotted developments. The demand for plots is increasing more in the city, with people preferring to make houses according to their own choice. SARE Homes is offering plots in its project Crescent ParC. Homebuyers can have their own designer villa on thes...

RERA Registration: Haryana builders seek 3 months extension for registration

After the completion of the deadline on July 31 for RERA registration ongoing projects, several projects are still to be registered yet. The Haryana based realtors are expecting an extension in the deadline for the registration of the remaining projects under H-RERA. They have come across, approaching 3 months of extension in the deadline to the government. RM Correspondent Sources informed that till now only around 30 state projects have received registration certificate, whereas over 400 applications were submitted during 28 to 31 July. As per the regulatory norms the developers can advertise their projects only after the registration of the projects under the act.The Haryana State Government had issued against 20 developers in the last month for advertising their projects without regist...

An upward shift to affordable housing

The favorable policy announced by the Modi Government of owing affordable houses has got an upward shift over the past three years. The motto of announcing the policies such as “Housing for all by 2022”, Pradhan Mantri Awaas Yojna (PMAY)” is to give push to affordable houses so that people can buy their dream home at affordable pricing. RM Correspondent The Managing Director of SARE Homes, Vineet Relia says, “Affordable Housing is a necessity that needs to be fulfilled to bring back the real estate sector on track. The market is flooded with the high-end luxury housing, but the segment of affordable housing is evidently lacking in a few states. Once it gathers pace, affordable housing will not only enhance the basic quality of life, but also make good economic sense. Thankfully, affordable...

Why your web architecture is more important than your property?

Property buyers are currently well informed, thanks to the digital era. They generally tend to research about the developer before investing. Digital has become a convenient medium for the primary research and skimming.  RM Correspondent Web site for developers is a necessity and digital products are the future of India. Websites primarily define the brand digitally and help the consumers to create a perception. Millions of searches happen in real estate every day. User experience and an interface are now a priority to capture the audience. Realty brands have evolved digitally with new innovations and virtual reality to garner attention. Thus, we planned to review some of the real estate websites:- Ajnara India #Observation: The website is pleasant with the brand message “Peace of mi...

SARE Homes raises Rs435 crores from Altico Capital and KKR

SARE Homes raised Rs435 crores from Altico Capital and KKR for a township project at Sector 92 in the New Gurgaon Region, NCR. The project is spread across 66 acres with a residential development potential of approx. 6.5 million sq ft. Altico’s contribution of Rs315 crores will be used to refinance existing debt and towards project expenses. KKR has provided additional capital of Rs120 crores for construction, augmenting its existing facility of Rs95 crores. RM Correspondent Vineet Relia, Managing Director, SARE Homes, said: “Driven by affordable pricing and connectivity to the main Gurgaon sectors, the New Gurgaon Region is witnessing consistent demand. Our association with two leading lenders in the real estate domain will benefit all stakeholders, including customers. Accordingly, we lo...

Narendra Modi’s Demonetization Move Will Impact Real Estate

Often termed as laidback sector with a reactive approach, the real estate industry, surprisingly, was quick to react to Tuesday’s announcement of demonetising of Rs 500 and Rs 1000 currency notes. It appears that the sudden announcement by Shri Narendra Modi has spread some tremors in the real estate market, though the actual magnitude of this jolt is yet to be measured. Souma Mukherjee Real estate has always been synonymous with black money. Property transactions never used to happen on the defined circle rates. On an average, a ratio of 35:65 was into practice where only 65% of the cost transacted in white. Well, all these become history! Thanks to India’s one of the dynamic prime ministers Shri Narendra Modi who, in a yet another dynamic and surprising decisions, announced the withdrawa...

RBI infuses some festive madness – REPO Rate changed

The market is sluggish and in a severe need for funds, the last session of RBI wasn’t pleasing for the sector with no change in the REPO rate. Today’s session seems to cheer up the sector with the 0.25 percent rate cut, while the CRR (Cash Reserve Ratio) was unchanged. Even though the transparency is still questionable, but buyer will be able to get loans at a lesser rate of interest. The problems are situational but every developer should be tactical with their move. Here’s what they shared with Team RM Anuj Puri, Chairman & Country Head, JLL India The first question that arises after this rate cut is, of course, how it will help improve buyer sentiment in the housing sector. The reason why housing sales have been sluggish is because of trust deficit between consumers and developers. ...

RBI must look at the real estate sector with new optimism

The Reserve Bank of India today concluded the third bi-monthly monetary policy review for the current financial year.  Contrary to market expectations, RBI Governor Raghuram Rajan, known for going by instinct and offer surprises, preferred to sail smoothly in the last lap of his tenure at RBI. He kept the key rates unchanged. Santosh Sinha The industry expected a rate cut. Monsoon too, so far, has been favourable this time. In the last review when RBI had acted similarly, it was predicted that Raghuram Rajan had planned some ‘Good Bye’ surprises and would cut repo rate by at least 50bps. Going by the current market scenario, there is still some vacuum. Real estate sector in particular, was very hopeful of a rate cut. It is struggling to generate sales and is over-burdened with piling inven...

RBI & its Status Quo: Increasing Concerns for Real Estate

“Real estate sector was very hopeful that RBI would slash repo rate by at least 25bps. It is quite evident that the sector is struggling to generate sales and is over-burdened with piling inventories. A rate cut now would have helped it convince buyers and boost sales” Santosh Sinha The Reserve Bank of India today concluded the second bi-monthly monetary policy review for the current financial year.  RBI’s Governor Raghuram Rajan, known for going by instinct and offer surprises, today behaved on expected lines. RBI kept the key Repo and Reverse repo rates unchanged. These rates remained at 6.5% and 6% respectively. Though some sections of the industry were quite hopeful of a 25bps cut in repo, rest of it expected a ‘status quo’ from the Apex Bank. RBI chose to remain cautious a...

Industry hails the rate cut, says “Yeh Dil Maangay More”

The real estate sector was looking at the RBI governor with eyes wide open. The sector is reeling under tremendous pressure. The sluggish demand coupled with costlier loans has broken developers’ confidence. Investors too, have been shying away. Though the recent budget announcements have raised some hope, it all came back to RBI and its governor Raghuram Rajan. Industry was little skeptic, will Raghuram cross the ‘Lakshman Rekha’ this time! Finally, to everyone’s surprise, RBI cut its REPO Rate by 25 bps and brings it down to 6.5%. A first rate cut of FY17, it came after 6 months. The last rate cut had happened on September 29, 2015 when RBI had slashed the repo by 50 bps. Let’s hear how the industry reacted it this: Anil Kumar Sharma, CMD, Amrapali Group – T...

Finally a big win for Home Buyers – Rajya Sabha passes the Real Estate Regulatory bill

Souma Mukherjee/RealtyMyths The passing of the long-pending Real Estate Regulatory Bill, which was being hotly debated and second-guessed for far too long, is an unequivocal victory for the Indian real estate sector. Its enactment as a law will almost single-handedly revamp the way this sector works across the board, from developers to end-users and investors, to lending institutions and government agencies involved in the buying and selling of property. It is by far the most decisive step the sector has taken towards transparency and reaching towards the kind of standardized processes, procedures and accountability guidelines that the industry requires to progress. Industry Reacts:  Anuj Puri, Chairman & Country Head, JLL India shares, the real estate industry welcomes the major refor...

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