18 hurt in London terror attack, most sustaining 'flash burns'
British police have declared a terrorist incident after a blast sent a "fireball" and a "wall of flame" through a packed London Underground train. Assistant Commissioner Mark Rowley said the explosion was caused by the detonation of an improvised explosive device.
Narendra Modi, Shinzo Abe discussed Doklam: China in mind, India and Japan agree to deepen strategic ties
The reference to Pakistan-based terror groups is a new addition to the joint statement which said that the two leaders looked forward to “strengthening cooperation against terrorist threats from groups including Al-Qaida, ISIS, Jaish-e-Mohammad, Lashkar-e-Tayyiba, and their affiliates”.
India drop 10 places in FIFA rankings, out of top 100 for first time in four months
India's drop in the rankings come despite them winning the friendly tri-nation series at home against Mauritius and Saint Kitts and Nevis. This was followed by a 2-0 win over Macau away from home in the AFC Asian Cup qualifiers. India have slipped out of the top 100 in FIFA rankings. In the latest rankings, India are ranked 107th, as opposed to 97 that they were before this.
Doklam standoff: How did India, China resolve the crisis?
Two weeks on, no official word from India and China on how the Doklam standoff was resolved. It has been two weeks since India and China agreed to disengage after a 73-day military standoff on the Doklam plateau in Bhutan. But so far, there has been no official word from New Delhi or Beijing on how the two struck a deal to pull back from their most serious face-off in two decades—creating space for theories to mushroom.
Modi, Abe to kick-start India's first bullet train project
Indian Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe will break ground on India's first bullet train project on Thursday in western Gujarat state, as the country seeks faster travel for millions. Modi has pledged to invest billions of dollars to modernise India's creaking railway system, with the bullet train one of his key election promises ahead of his landslide victory in 2014.
ISRO’s private sector-built IRNSS 1H satellite launch fails, agency to analyse
The launch of India’s latest navigation satellite onboard its polar rocket failed on Thursday following a technical glitch just prior to its scheduled orbiting in space. The launch of India’s latest navigational satellite IRNSS 1H in its indigenous GPS system NavIC (Navigation with Indian Constellation) failed due to a technical glitch on Thursday.
Why Gurmeet Ram Rahim’s Dera became a Dalit citadel
While political parties such as the BSP and the Left looked at the marginalised only as vote banks, the landless and the poor found social equity and dignity in the Dera. What do you get if you throw together a good measure of unflinching faith, a sense of belonging, some empowering identity and a dash of aspirational headiness? The answer is almost always the same: Millions of ardent followers.
Doklam settlement in line with interests of both: China
Chinese Ministry of Foreign Affairs said China would continue to patrol the Doklam region. Setting aside their differences exactly a week before the BRICS summit, China and India Monday signalled the end of the border row in Doklam.
Ram Rahim Rape Case LIVE: Dera Chief Sentenced To 20 Years In Prison
The sentence against rape convict Gurmeet Ram Rahim Singh was declared by a special CBI court yesterday. He has been sentenced to 20 years in prison as he was announced guilty of raping two women in a 2002 case.
Shapoorji Pallonji Real Estate to launch six projects in FY18
Shapoorji Pallonji Real Estate CEO Venkatesh Gopalakrishnan says 2-3 projects will be developed in Mumbai, two in Pune and one in Delhi-NCR. Diversified Shapoorji Pallonji group’s real estate arm is lining up at least six projects across the country in 2017-18, with two in the affordable housing segment, a senior company official said.
Realty firms up with Rs 12,700 crore inflows in first of this year
Residential market got $1,075 mn, commercial $796 mn, retail $119 mn. India's real estate market has seen an investment of $1,990 million (approximately Rs 12,766 crore) in the first half of this year, and the residential segment has cornered 54% of it. The inflows have been robust thanks to greater transparency ushered in by various reforms.
Indians second largest buyers of Central London property
South-east Asians accounted for 36% of property sales in Central London in the year to August, followed by Indians at 22% and West Asia 21%, as per London Central Portfolio’s latest sales audit.
Adding much-needed regulations to the real estate sector
RERA aims to improve the state of the industry, which in turn could pave way for rise in confidence and investments. India introduced the Real Estate (Regulation and Development) Act, 2016 ('RERA') partly on May 1, 2016 and fully on May 1, 2017.
India can be UK's natural partner after Brexit, says Paul
India can be Britain's natural partner at a much bigger level after Brexit, NRI industrialist Lord Swraj Paul has said. He said the UK's decision to leave the European Union gives an opportunity to Britain and India to work together and gain from each other.
RBI repo rate cut set to provide major fillip to real estate
Real estate and banking experts anticipate the home loan interest rate to hover around 8 percent once the banks decide to pass on the benefit to consumers.
71 Years of Independent India - The Real Estate Milestones
How a particular industry shapes up depends on government’s initiatives and interventions – largely done through new sector-specific policies as well as tweaking older ones to better suit the changing business environment.
Plot owners move HC on RERA making them co-promoters
MUMBAI: Can a housing society or plot owner be held responsible for violations or irregularities committed by a developer under the new Real Estate (Regulation and Development) Act?
Centre asks states to set up realty regulators soon
Mumbai: The Ministry of Housing and Urban Affairs (MoHUA) has asked state governments to form a real estate regulatory authority immediately. At the same time, the Ministry has also requested to assign the task of Appellate Tribunal to any existing Tribunal where such a system has not been put in place.
Chandigarh, Delhi real estate regulatory bodies to be clubbed
The UT administration reasoned that it will be financially prudent for both the cities to share as Chandigarh has a low footprint of private developers which can come under the purview of the Real Estate Act. The city will now share its Real Estate Regulatory Authority and Real Estate Appellate Authority with Delhi, under the Real Estate (Regulatory and Development) Act, 2016. Members, when appointed, will be available in Chandigarh for a limited period every month, the exact duration is yet to be finalised.
Indians among top investors in residential property in US
MUMBAI: The pall of gloom owing to protectionist policies has not kept Indians residing in the US from investing in real estate. By purchasing residential property worth $7.8 billion during the 12-month period ending March 2017, Indians emerged as the fifth largest investors in real estate in the US. Backed by mortgage finance, these properties were largely acquired for use as primary residence or for use by a child studying in the US.
Foreign and local funds flow in for Indian Real Estate
MUMBAI: Indian real estate is witnessing a robust rise in investment inflow, due to the ongoing transformation in business environment, and as foreign and domestic institutional investors is infusing more funds into this sector. According to the study carried by Knight Frank India, the Indian property market has showed a 40% on-year jump in inflow of funds since the beginning of this year.
RERA warns builders of action for late registration
As of July 14, 500 projects stood to be registered with RERA along with 3,500 brokers having registered with Maha RERA. The number of 500 registered projects has not worried officials from Maha RERA, who anticipate that builders will come for registering at the nick of the time. Maharashtra Real Estate Regulatory Authority (RERA) clarified that it can take suo motu action against builders who don't register their projects with the authority by the deadline of July 31.
Land deals pick up pace amid falling prices, rising distress
Delhi NCR, where land values have dropped by 30-40%, may be the worst impacted by the real estate slowdown, but that hasn’t deterred buyers. As land prices fall and distressed assets rise, land deals are picking up pace. Large developers from Mumbai and Bengaluru, particularly those backed by institutional investors, are actively scouting for land parcels, mostly to build commercial offices and industrial warehouses, but also distressed residential parcels at lower valuations.
Blackstone in talks to buy $525 million IL&FS real estate fund
Private equity firm Blackstone may buy ILFS India Realty Fund I owned by IL&FS Investment Managers Ltd. The Blackstone Group Lp, the US-based global private equity firm, is in talks to acquire ILFS India Realty Fund I, a $525 million real estate fund owned by IL&FS Investment Managers Ltd (IIML), two persons aware of the development said. IIML is a unit of Infrastructure Leasing & Financial Services Ltd (IL&FS).
Is the affordable housing euphoria overdone?
The affordable housing market is fragmented with scores of developers; those with weak financials may even wind up operations. The BSE Realty index has been moving up sharply in the last few months. One reason, of course, is that realty stocks had been really battered earlier and the market is clutching at the hope that the government’s affordable housing initiative will help the sector pick itself up.
Demonetisation didn’t have much impact on India’s real estate sector: Govt data
The housing sector grew at a compounded rate of 18% to 19% after the government scrapped two high-value banknotes, which accounted for 86% of the cash in circulation. Prices of under-construction residential properties in Delhi, its next-door neighbour Faridabad, Patna, Nashik and Chandigarh have witnessed the maximum fall in the first quarter of 2017 over the previous quarter, data released on Monday by the National Housing Bank’s (NHB) Residex revealed.
Goldman Sachs may invest Rs300 crore in Ozone Group’s real estate project
Goldman Sachs is evaluating both residential and commercial real estate assets of Ozone Group, and will invest in at least one project. Investment bank Goldman Sachs is planning to invest as much as $50 million (about Rs325 crore) in a real estate project of Ozone Group, a Bengaluru-based developer, two people aware of the matter said.
After 2 months, Karnataka cabinet finally clears RERA
BENGALURU: After dragging its feet for nearly two months over implementing the Real Estate (Regulation and Development) Act (RERA), the state cabinet on Wednesday approved the rules to be notified under RERA. Two major changes are ongoing projects where 60% of work has been completed will not be brought under the purview of the legislation, and the cost of the project will be determined on the basis of the prevailing guidance value.
Hyderabad realty sees mixed trends
Project launches hit due to ambiguity in RERA
The real estate sector in Hyderabad sees mixed trends. While demand for office space is higher than availability of inventory, prices continue to rule steady while rentals firm up.
GST rates: Real estate firms gear up to pass on tax benefits to home buyers
Depending on stage of construction and location, home prices may either see a correction of up to 3% or inch up a bit due to GST. Real estate firms are gearing up to pass on tax benefits to homebuyers under the goods and services tax (GST) regime, which could lead to marginal changes in property prices.
Realty check: Mumbai builders’ unsold inventory worth whopping Rs 2.5 lakh crore
After government’s demonetisation move the real estate market has been hit with huge losses, as the investment declined by almost 50 per cent. But when the real estate sector was gaining, this market was again hit by a surgical strike by the government, that is the Real Estate Act, or better known as RERA. But the latest reports have shown that there around 1 lakh unsold apartments over the past in Mumbai Metropolitan Region (MMR), which takes the total unsold inventory to Rs 2.5 lakh crore.
Real estate developers go slow on REITs
But, overall conditions are quite positive for REITs, says CEO of Embassy Corporate Park. As the first Infrastructure Investment Trust (InvIT) got listed recently, the real estate sector is yet to leverage Real Estate Investment Trusts (REITs) despite both having been conceptualised by the Securities and Exchange Board of India in 2014.
GST impact on real estate: Will new tax system bring property prices down?
After demonetisation, the Real Estate (Regulation and Development) Act or RERA is being enforced to realise the 'housing for all' initiative by the government, and the implementation of the upcoming Goods and Services Tax (GST) will further streamline the real estate segment in India.
Will the Navi Mumbai International Airport impact property prices in the region?
The 5 key micro-markets that are likely to gain due to the coming up of the NMIA are Ulwe, Kamothe, Kharghar, Taloja and Panvel. The prices in these regions have seen less than 4 percent appreciation over the last 3 years.
Don’t ask buyers to pay before July 1, builders warned
It is illegal for builders to ask buyers of unfinished realty projects including flats to make full advance payment to avoid paying higher taxes after GST kicks in, Union housing minister M Venkaiah Naidu has said.
Engage realtors to pass GST benefit to buyers: FinMin to HUPA
The finance ministry has asked the housing and urban poverty alleviation (HUPA) ministry to sensitise states and the real estate regulator to hold consultations with developers to pass on benefits of GST to home buyers.
Delhi's CP 9th most expensive commercially
Connaught Place in New Delhi has been ranked the ninth-most expensive prime office market in the world - down from seventh last year - with an occupancy cost of $153.89 per square foot per annum, according to a survey.
Six Indian cities in top 10 realty investment spots in Asia-Pacific
Real estate investment volume in the region is expected to hit $611 billion this year. Six Indian cities — including Hyderabad, Bengaluru, Pune, Mumbai, Delhi and Chennai — have found place in the top 10 emerging property investment destinations list for the Asia-Pacific.
Home buyers, wait for GST rollout on July 1. Here’s why
After GST is implemented, a number of hidden and cascading taxes will be removed, which will help buyers, says experts. Is it a good time to buy a house? This is the perennial question on the minds of homebuyers. But this question assumes significance as India moves to a new indirect tax regime, the Goods and Services Tax (GST) from July 1.
Post RERA, Mumbai among 8 top cities to see dip in residential project launches, says report
As the real estate industry grapples with the new Real Estate Regulatory Act (RERA), 2016, regulations, Residential Project launches have declined by about 8 per cent over the last one year.back-stage in modern time.
Now, affordable housing is driving home loan growth
After years of selling pricey luxury homes that boasted amenities like signature golf courses and jacuzzis, builders finally seem to be moving toward modest apartments to suit middle-class pockets.
Piramal Finance lends Rs 1,100 crore to real-estate developer Embassy Group
Piramal Finance (PFL), the lending arm of Piramal Enterprises, on Wednesday said that it has financed Rs 1,100 crore to Bengaluru-based Embassy Group. This funding has been done sequentially across both residential and commercial projects in Bengaluru, Chennai and Hyderabad over the past six months.
Real estate deals likely to close 20-255% lower than pre-RERA, pre-demonetisation prices
The Real Estate Regulation and Development Act (RERA) seems to have had an impact on sale of real estate in Mumbai as the City and Industrial Development Corporation (CIDCO) land auctions in Navi Mumbai last week witnessed 40 per cent lower bids than in November.
Real estate companies waiting for clarity on GST, new law: Study
Property consultant Knight Frank India and FICCI today released its real estate sentiment index, based on a quarterly survey of key supply-side stakeholders, which include developers, private equity funds, banks and non-banking financial companies (NBFCs).
Decades on, Navi Mumbai finally gets major takers for commercial realty
Office rentals here have grown by an average of 9% over the past year, against an average of 1% for the Mumbai Metropolitan Region.
J&K may be first to bring real estate under new regime
Jammu & Kashmir may be the first state in the country to bring real estate within the ambit of goods and services tax (GST) when it enacts laws to integrate its indirect tax regime with other states, state finance minister Haseeb Drabu indicated.
Gautam Chatterjee to head real estate regulatory body
The 1984-batch IAS officer, currently serving as Additional Chief Secretary (Public Health), is due for retirement in July this year.
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