During his first press conference as the new head of Confederation of Indian Industry (CII), Kotak said he is in agreement with Commerce and Industry Minister Piyush Goyal on the issue. Real estate developers must lower home prices to clear unsold inventories so that buyers can get places to live at affordable prices, new CII President Uday Kotak said on Thursday. During his…

Technology, over the past few years, has successfully fuelled an exciting new concept in the housing sector by offering its consumers their first-of-its-kind tech-enabled living experience. The worldwide market for “Smart or tech-enabled homes” is expected to rise to $6 billion approximately by 2022, a two-fold increase from $3 billion estimated in 2020, according to…

GURUGRAM: Industry owners in the city have demanded additional floor area ratio (FAR) in work areas for construction of accommodation and canteens for the employees and workers as directed by the government. City-based industry association Gurugram Industrial Association (GIA) on Monday wrote to chief minister Manohar Lal Khattar on the matter. “We are not ready…

Every year June 5th is observed as World Environment Day around the world. This year the theme of the Day is “Celebrate Biodiversity” which is a call to action for individuals and government bodies around the world to undertake actions that can save and protect our environment from its rapid degradation. This global epidemic has once…

GURUGRAM: Even before moving into their new homes, hundreds of homebuyers of Zara Avaas affordable housing project in Sector 104 have been asked to pay water consumption charges by the developer. They met the Gurgaon deputy commissioner as well as senior GMDA officials on Thursday seeking their intervention in resolving the issue. The homebuyers claimed…

Considering consumer feedback that the key impediments to home ownership are high upfront payment and paying both rent and EMI together, Lodha put together ‘Apna Ghar, Apna Desh’ initiative. Lodha Developers, India’s largest residential real estate company, has crossed sales of 1000 homes in the Mumbai region during the lockdown. During this period, the company witnessed 85% of sales across its ready homes or nearing ready homes, clearly indicating distinct consumer preferences in the current market scenario. Based…

The top court’s remark came on a plea of JP Morgan challenging the attachment proceedings by the ED.  The Supreme Court on Wednesday directed multi-national firm JP Morgan to deposit Rs 140 crore, which was Amrapali Group home buyers money and allegedly siphoned off in contravention to the norms as per the forensic auditors report and last year’s order in…

Real estate and gold have traditionally formed a large chunk of Indian investors’ portfolios. However, over the past few years, returns from real estate have been poor to negative. On the other hand, gold does not give attractive returns in the long term and has high transaction cost. Apart from keeping gold or real estate for…

According to the counsel, the receiver informed the court that UCO Bank is also interested in becoming part of an arrangement proposed by SBI Caps, through a joint funding arrangement.  SBI Cap Wednesday informed the Supreme Court that it is willing to fund the stalled housing projects of the Amrapali Group, and for this purpose, a special purpose…

Union minister of commerce and industry Piyush Goyal came down heavily on real estate developers on Wednesday, telling them that many continue to hold on to high-priced inventory despite several reminders. Goyal said builders have no choice but to construct and sell projects at reduced and realistic prices, without waiting for the market to improve. “…You…