#RealtyNewsRoundup: Buyers Have To Wait More As Centre Fails To Notify Key Sections Of Real Estate Bill

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

Citizens will have to wait for at least a year to realise the benefits of the Real Estate Regulatory Authority Act. The Act came into force on May 1, but only with some sections, as the others have yet to be gazetted. As a result of this, developers need not register with the housing regulatory authority, as Section 4 of the Act has not been notified by the central government. Read more

Indiabulls Asset Management Company's private equity fund is planning to raise Rs 1,000 crore through its new real estate fund Indiabulls High Yield Fund, including a green shoe option of Rs 500 crore, said a top company official. This is Indiabulls Asset Management's second real estate fund after raising and deploying the first fund in the past one year. Read more

Engineering giant Larsen and Toubro and the Telangana government could be headed for another faceoff over execution of the Rs 16,375-crore metro rail project in Hyderabad. L&T Metro Rail, which has suffered time and cost overruns, both before and after the formation of Telangana, has a July 2017 deadline for completing the 72-km metro rail project. Top officials in the Telangana government confirmed that the infrastructure firm has sent a fresh request seeking extension of construction deadline by at least 18 months and compensation for various impediments. Read more

Now some good news for the real estate sector. There could be a revival in sight for India's housing sector, with home sales data showing marginal growth for the second straight quarter. Home sales across India's top eight cities increased 6 per cent in the January-March quarter from that a year ago, helped by stagnant pricing, discounts from builders and launch of new projects at lower prices in some cities, according to a report by property research firm Liases Foras. 
Sales in the National Capital Region were up 33 per cent and that in Mumbai 12 per cent , while Hyderabad saw 20 per cent growth. Read more