Realty News Roundup: RBI Governor For Lower Property Prices; DDA To Come Up With Biggest-Ever Scheme

Realty News Roundup is PropGuide's selection of top stories from the real estate sector

Top News

Reserve Bank of India Governor Raghuram Rajan has urged real estate developers to lower property prices. In a statement, he said, "If real estate developers, who are sitting on unsold stocks start bringing down prices, it will be a big help to the sector." Once the prices stabilise, more people will be willing to buy homes. He also asked banks to explore ways to make home loans easier for home buyers. Read more.

A study by Venture Intelligence reveals that private equity and venture capital investors will make record exits from their Indian investments in 2015. Meanwhile, in the real estate sector, developer Amrapali Group gave partial exits to JP Morgan Real Estate and ICICI Prudential. In yet another development, Piramal Fund exited from the luxury realty project Omkar 1973 for Rs 500 crore.

The Union Ministry of Housing And Urban Poverty Alleviation urged state governments to expedite work on the mission to build home for all by 2022. Reports also suggested that Odisha, Bihar, Jharkhand, Gujarat, Rajasthan, Jammu & Kashmir, Nagaland have signed the MoU in this regard. Read more.

Off the front page

Attention home buyers! The Delhi Development Authority (DDA) will issue its next housing scheme by the end of 2016. This will be the biggest-ever in its history with more than 60,000 flats.

Upcoming event: The Confederation of Real Estate Developers' Association of India's (CREDAI) Karnataka chapter will be hosting its annual 'State Convention at KLE Convention centre in Belagavi on September 2 and 3. Read here.

Opinion

Some thoughts on real estate stocks. Read a piece in The Economic Times here.