Current Price $541.27
Navi Mumbai contributed 17% to total launches in MMR at 2,430 new units, while Thane saw 2,220 units launched during the quarter. MUMBAI: New supply of residential apartments in Mumbai, the country’s most expensive property market, declined 33% during the quarter ended September. The city witnessed new supply of 9,390 units comprising 67% share of total supply of 14,040 new…
Majority of this unsold stock in the MMR is concentrated in Thane, Dombivali, Neral, Mira Road, Panvel, Virar and Chembur. MUMBAI: Around 48% of total unsold stock in the Mumbai Metropolitan Region (MMR) is affordable housing units priced below Rs 45 lakh. Realty developers in the region had an unsold stock of over 2.93 lakh units till July 2019, showed…
“It is our endeavor that there is no contagion,” says RBI Governor Shaktikanta Das. India’s central bank is seeing “signs of fragility” in some of the 50 mortgage lenders and other shadow banks it is monitoring to prevent the spread of a crisis that followed the collapse of a non-bank lender last year. “It is our endeavor that there is…
Here is what real estate gained in budget 2019: Current Rental Laws are archaic as they do not address the relationship between the Lessor and the Lessee realistically and fairly. A Model Tenancy Law will also be finalized and circulated to the States. It is proposed that several reform measures would be taken up to promote rental housing. Large public infrastructure can be built…
Housing finance growth is set to slow down to 13-15% this fiscal, lower than the average of the past three years, due to the lingering liquidity issues faced by non-banking lenders, warns a report by top-rating agency. There can also be an adverse impact on the outstanding housing credit, which stood at Rs.19.1 lakh crore as of March 2019. It…
Investor-friendly reforms, positive sentiment following India’s first Real Estate Investment Trust (REIT) offering, and firm market fundamentals have helped this upward trajectory. MUMBAI: Investors have pumped in a record $2.5 billion or Rs 17,600 crore in the first quarter of 2019, reposing their confidence in India’s real estate sector. The investment has not only more than doubled on a sequential…
Residential property prices across India’s major markets are expected to rise in the second half of this financial year as sales momentum is expected to pick up pace with an increase in demand. The downtrend in prices was arrested with some markets witnessing an increase in demand. “In the past five years, bigger residential markets like Delhi-NCR (National Capital Region) and Bengaluru saw a marginal…
Investors are convinced of a strong certainty on returns on their investments from the real estate in India as the positive but disruptive policies have resulted in transparencies. Foreign funds, including sovereign and pension funds, are looking at investment in India, following recent investments by Canadian Pension Fund, Qatar-funds, GIC and Temasek of Singapore, said a senior executive, Chairman of Federation…
The state government has planned a drastic reduction in basic floor space index (FSI) for commercial, mixed use and industrial plots in unified development control regulations (DCR). FSI of big residential plots will also come down to some extent. The state’s urban development department has issued notification for unified DCR recently. Time period of one month is being given for…
