Page 16 - Supertech Group News Today

Real estate developers struggle to meet targets as pandemic rears its ugly head SECTIONS Share Synopsis Realtors are struggling to meet both completion and launch targets as the necessary clearances from the relevant authorities are delayed because of the localized curbs on mobility. Supply bottlenecks are also becoming increasingly evident, as is the anxiety among the hard-hatted workforce engaged in construction. Developers believe that once supply is affected, there will be an increase in pr...

Noida: Homebuyers of more than a dozen group housing societies waiting to get their flats registered may finally get some relief as the Noida Authority has started inspecting the properties to resolve the logjam with private developers. These buyers were offered possession by the builders but the registrations are yet to be completed. Officials said 18 projects were identified in the city in the first round and the developers have been asked to settle their dues. Instead of paying the total du...

Noida: After imposing fines to the tune of Rs 4 crore on 25 builders for non-compliance of its orders in favour of homebuyers, UP-Rera is now hearing the offenders out one-on-one. Top executives of Supertech Group and the Logix group turned up at the regulator’s door on Wednesday and Thursday, respectively, to negotiate and make fresh promises for completion of flats to escape fines. “The meetings are being held with the erring builders on a one-on-one basis. However, there have been no di...

Picture used for representational purpose only GURUGRAM/NOIDA: Sandwiched between the impact of lockdown that enforced a price correction and a prevailing liquidity crunch, the real estate industry of NCR has put forward a wishlist to the Union finance ministry, pinning its hope on reforms and bailouts in the Budget on February 1. Apart from infusion of liquidity, developers have made a demand that some reforms be introduced to cut down project cycles via introduction of single-window clearanc...

Developers hope interest rates, stagnant prices to push for housing sales in 2021 SECTIONS Share Synopsis Experts feel that the mid-segment housing may take 6-8 months of 2021 to bounce back to pre-COVID levels due to the reeling market. Agencies Demand in 2021 is likely to recover to 2019 levels and may even surpass it if there are no unforeseen negative events. NEW DELHI: The reverse migration, which led to the emergence of heightened demand for homes in tier 2/3 cities, demand for bigger hom...