Realty News Roundup: Delhi HC Thinks The Govt Is Builder Friendly; Real Estate Sector Is Recovering
Realty News Roundup is PropGuide's selection of top stories from the real estate sector
Top News
The Delhi High Court said that the NDA government favors builders at the expense of the common man. A High Court bench consisting of Justice Badar Durrez Ahmed and Justice Sanjeev Sachdeva made this observation regarding a new circular issued by the government permitting sales of unauthorised buildings. Read more.
Many recent reports suggest that the real estate sector in India is recovering. According to a study, India Office market View for Q2 2015, conducted by a leading commercial real estate services firm, CBRE, commercial real estate deals across the Indian metros are rising. Reports from Delhi suggest that transit-oriented development proposals would change the real estate sector. A report from Hyderabad states that the real estate sector in the city is quickly growing, indicating renewed interest from consumers and developers. According to this report, Telangana Registration and Stamps Department has registered a 34% growth in its revenue in the first quarter of the 2015-16 financial year, relative to the corresponding period the previous year.
The Singapore Exchange (SGX) is urging Indian firms to list their assets as REITs (real estate investment trusts) . The SGX announced that it will run a roadshow for companies with substantial assets in its commercial real estate portfolio. Read here.
Off the front page
If you wish to buy a home in Gurgaon, there is good news for you. A newly launched project offers flats at lower prices. Real estate firm SARE Homes' Olympia project prices a 1,295 sq ft three-bedroom flats at Rs 90 lakh, inclusive of all charges. This is a steep decline from its earlier price of Rs 1.5 crore for which it sold similar homes one-and-a-half year ago. Read here.
The Brihanmumbai Municipal Corporation (BMC) issued stop-work notices to 32 real estate projects in Mumbai after finding mosquito-breeding spots at construction sites. The notice has been issued to curb the spread of monsoon-related ailments. Read here.
Opinion
Dr. Anil Kumar Sharma, CMD at Amrapali Group, writes on what makes Noida Extension the first choice of property buyers. Read here.
FirstPost.com has some tips for you to buy your second home. Read here.