620

Unsold Inventory Highest in NCR, Lowest in Hyderabad, Chennai and Bengaluru

NCR has witnessed a 3-5% decrease in average per-square-foot property prices over the last one year (Q4 2016 - Q3 2017). Currently, NCR has the maximum number of unsold units among all the top cities in India. An approximate 2 lakh unsold units are stocked up across different cities in the region. Greater Noida has maximum share of unsold inventory, followed by Gurugram.

There are many reasons for the price decrease in NCR. To begin with, excessive delay in project construction and possession has hurt buyers’ sentiments and led to subdued demand. Also, many projects have been stalled due to agitations and litigation issues. The massive unsold inventory itself has acted as a sentiment suppressant - and finally, while demonetization, RERA and GST are potentially positive moves for the industry, they have played a significant role in reduced buyer sentiment, contributing to the price falls.

410

900 Complaints Lodged Against Delayed Possession Of Homes In UP With RERA

New Delhi: A month after adjudicating officers was appointed, the Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has seen steep rise in number of complaints being lodged against private housing project developers in the state.

Maximum numbers of complaints were moved by home buyers and their associations to UPRERA are from Noida and Greater Noida in Gautam Buddha Nagar. These complaints are different nature including delayed of possession of homes, pending registration of sold properties with department of stamp and registration.

379

Will Bitcoin Buy You Property in India Anytime Soon? Unlikely

Bitcoin and other crypto-currencies have been in the news a lot if recent times, often for the wrong reasons but also because of the massive appreciation Bitcoin has been clocking up. To top it off, real estate has now been dragged into the bitcoin controversy, with a handful of projects in some parts of the US and Dubai actually inviting investments via the Bitcoin route. With the ongoing slump in sales, is it possible that developers in India will offer such an option to prospective buyers as well? Let us take a closer look at this.

260

One Year of Demonetization: Real Estate Bruised, But More Resilient

That which does not kill us, makes us stronger" - Friedrich Nietzsche

Over the past one year, demonetization has been a buzzword across all Indian industries, but much more so in real estate. The radical move of banning high-value currency notes, seen as the Government’s surgical strike on black money, has become a landmark event in the history of the Indian economy. Looking back on Year 1 AD (After Demonetization), it is plain to see that it has brought significant disruptions into the overall economy – and particularly the real estate sector.

223

Noida-Greater Noida Metro Corridor To Get Operational By May

Noida: Commuters will soon be able to transit through around 30 km long elevated metro corridor between twin cities of Noida and Greater Noida over a period of next six months as the DMRC (Delhi metro rail corporation) is near about completion of the project. It erected the last girder on Tuesday in Sector-143 in Noida to mark the completion of civil work.   

AlokTondan, Managing Director of Noida Metro Rail Corporation (NMRC), said, “The civil work is completed and now are in process of starting the trial on the corridor from January next year.”