Realty News Roundup: Home Prices To See 20% Hike By 2017; China's Biggest Private Property Developer Dalian Wanda To Invest In Gurgaon

The Confederation of Real Estate Developers' Associations of India (CREDAI) has said that it expects home prices to witness a 20% increase by the financial year 2016-17 on increasing input and land costs  as well as the implementation of goods and services tax (GST). The industry body said that it expects housing sales across the country to see a remarkable recovery by the financial year 2016-17 on reducing home loan rates, with the real traction in demand starting this festive season.

Here are the other real estate related news stories of June 4, 2015:

In a landmark verdict that can severely impact several foreign investors and their investments in Indian real estate projects, the Bombay High Court has ruled that offshore investors cannot seek legal recourse for their assured investment returns in India.

A first information report (FIR) is registered against a Mumbai real estate developer and his sales manager for allegedly denying a flat to a a non-vegetarian.

In another case, the Pune district consumer disputes redressal forum ordered the director of a construction firm to pay Rs 1 lakh compensation to a flat owner for substandard construction leading to deficiency in service.

The biggest private property developer in China, Dalian Wanda, which is also the world's largest cinema chain operator with assets worth $86 billion and a turnover of $39 billion, expressed interest in investing in Gurgaon, by venturing into lifestyle and commercial real estate projects.