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It would have helped if the sector received benefit from MPC: Realtors
Posted On: 2021-04-07 04:39:11 (Time Zone: Arizona, USA)
The Reserve Bank of India (RBI) has maintained the policy rate at 4% and voted unanimously to keep the status quo with an accommodating stance. The marginal standing facility and bank rate remained at 4.25 per cent, while the reverse repo rate remained at 3.5 per cent. The majority of experts predicted that the RBI will preserve the status quo in the face of a rise in COVID-19 cases in the country. The RBI s decision to keep key policy rates unchanged means that low-interest rates on home loans will continue, but real estate developers believe that more reductions could have boosted housing demand, which has shown signs of recovery in recent months.
The Delhi government on Friday cut circle rates by 20 per cent, a move that will bring down the exorbitant property prices in the capital city.
The new order includes all types of properties across the city. According to sources, it is aimed at boosting property transaction in the market that has been subdued for the past few years. “Moreover, its timing is crucial, given the fact that the elections for the Municipal Corporation of Delhi is due next year and it is currently being governed by the Bharatiya Janata Party,” said a senior industry leader and political activist.
Real estate developers and industry stakeholders welcomed the Aam Aadmi Party-led government’s move. They said the reduced circle rates would translate into lower valuation of real estates and help interested buyers, who were otherwise left out due to the high property prices in the capital.
Budget 2021: Some hits, some misses for residential real estate ANI | Updated: Feb 03, 2021 18:26 IST
New Delhi [India], February 3 (ANI/NewsVoir): The Union Budget brought with itself a mixed of goodies for the residential real estate industry, delighting some segments of the sector while disappointing quite a few others. Finance Minister Nirmala Sitharaman provided the much required succour to the affordable housing segment but leaving luxury and other categories high and dry.
Sitharaman has extended the additional Rs 1.5 lakh tax deduction on the home loan interest till end of March 2022. This measure is expected to help the real estate developers who are engaged in affordable housing to sell more and recover from the pandemic with greater vitality. But some of the other categories of residential real estate like luxury homes or even houses costing upwards of Rs 45 lakh but less than 1 crore (homes costing up to Rs 45 lakh are defined at a
Wellness projects to redefine luxury housing in 2021 ANI | Updated: Feb 01, 2021 12:40 IST
New Delhi [India], February 1 (ANI/NewsVoir): India s real estate sector witnessed a change of perception of living after the pandemic struck globally; the sector rose up to the occasion and came up with projects that are changing the way people live.
Things took a radically different turn as people moved closer to wellness projects. People have begun to understand the value of safe living, immunity, and are falling back on many age-old social standards, including living king-size lives where you have space to comfortably go through everyday chores. There is a rising demand for projects offering less cluttered and organic living.