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Consumers expect fall in home prices

Posted on Dec 27, 2016
Housing finance firms downplayed stress in the real estate sector as fallout of the sudden demonetisation early last month in meetings with regulator National Housing Bank, but fear consumer sentiment expects prices to fall, and that could hamper home sales in the coming months, crimping growth, multiple sources familiar with the matter told.

In the past two weeks, NHB has held three meetings in Delhi, Mumbai and Chennai with 81housing finance companies to assess the impact of demonetisation.“We have held regional level conferences of housing finance companies (HFC) assessing the situation in light of demonetisation,“ Sri ram Kalyanaraman, CEO of NHB, told. “We also discussed the challenges and opportunities in this sector and also how the HFCs can work more towards fulfilling the Housing-for-All goal (by 2022).“

Kalyanaraman did not elaborate on the challenges but some parti cipants said they drew the regulators attention to escalating consumer expectations on falling prices.Rental yield and mortgage loan yields have fallen to about 3.4% (tax adjusted), which could be a key trigger to rake up housing demand from home buyers living in rented accommodation now, a head of a large HFC said.

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Rental rates to go up after demonetisation

Posted on Dec 09, 2016
The average price of a house in the main cities across India has increased by 3.6% compared to last year while rental values have grown at a faster rate of 4.9% during the same period. And in the backdrop of demonetisation of Rs 500 and Rs 1000 notes, rental rates are expected to increase over the next 12 to 18 months, says a report titled Buy vs R ...
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Elite property market prices fall in Chennai

Posted on Dec 09, 2016
Chennai: NRIs have an advantage in luxury property market post-demonetisation as real estate developers in Chennai have 'significantly' dropped property rates, according to Singapore-based business analysts.City-based developers are cutting prices by up to Rs 20 lakh on slow-moving projects.     "Experts believe that we can soon ...
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Luxury home rate may fall by 25-30% after demonetisation

Posted on Dec 09, 2016
NEW DELHI: Prices of luxury homes is likely to fall by 25-30 per cent following demonetisation of Rs 500 and Rs 1,000 notes as transactions in this segment involved lots of cash payments, according to real estate consultant JLL."The real estate sector will definitely be affected by the demonetisation exercise as it has traditionally seen a very hig ...
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Housing prices to up to 30%, wiping Rs 8 lakh crore in value

Posted on Dec 02, 2016
NEW DELHI: Housing prices in 42 major cities across India could drop by up to 30 per cent over 6-12 months after the demonetisation of high-value notes, wiping out over Rs 8 lakh crore worth market value of residential properties sold and unsold by developers since 2008."In the aftermath of demonetisation impact on Indian real estate sector, market ...
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Karnataka realty may be hit by high agency fees

Posted on Dec 02, 2016
BangaloreReal estate brokers in Karnataka, hit by slowdown and demonetisation, fear that the new draft state Real Estate Regulator Act (RERA) will make their business unviable, with some even apprehending the prospect of a closure. The government expects an agency to pay a proposed registration fee of Rs 5 lakh in the city and Rs 2.5 lakh in rural ...
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Housing prices to fall up to 30%

Posted on Nov 25, 2016
Housing prices in 42 major cities across India could drop by up to 30 per cent over 6-12 months after the demonetisation of high-value notes, wiping out over Rs 8 lakh crore worth market value of residential properties sold and unsold by developers since 2008.“In the aftermath of demonetisation impact on Indian real estate sector, market value of r ...
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Luxury home rate may fall by 25-30% after demonetisation

Posted on Nov 25, 2016
NEW DELHI: Prices of luxury homes is likely to fall by 25-30 per cent following demonetisation of Rs 500 and Rs 1,000 notes as transactions in this segment involved lots of cash payments, according to real estate consultant JLL."The real estate sector will definitely be affected by the demonetisation exercise as it has traditionally seen a very hig ...
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Shapoorji Pallonji to buy 100 acres land in affordable housing push

Posted on Nov 25, 2016
Mumbai: Mumbai-based developer Shapoorji Pallonji Real Estate plans to buy up to 100 acres across India for about Rs750 crore in the next one year to expand its affordable housing business, a top company official said.The company is close to signing two land deals of 15-25 acres each in Maharashtra and the National Capital Region (NCR). The real es ...
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Emgee Group to build apartments priced at Rs 8-12 lakh near Mumbai

Posted on Nov 22, 2016
Emgee Group, known for its high-end properties, said it is planning to enter the affordable homes segment by building homes in price range of Rs 8 lakh to Rs 14 lakh with a configuration of 300 sq ft to 500 sq ft each unit.With this venture the company aims to help home-buyers qualify for benefits of credit-linked subsidy scheme under the Pradhan M ...
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Big contractors not keen on 2-BHK house scheme in Hyderabad

Posted on Nov 22, 2016
HyderabadDespite promising to build more than a lakh two-bedroom houses for poor in the Greater Hyderabad Municipal Corporation (GHMC) limits, so far work began on construction of only 944 such apartments at four locations in the city - Syed Sab Ka Bada (48), Bandlaguda (176) Yerukala Nacharamma Nagar (432) and Singam Cheruvu (176).This was disclos ...
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Luxury home rate may fall by 25-30% after demonetisation

Posted on Nov 17, 2016
NEW DELHI: Prices of luxury homes is likely to fall by 25-30 per cent following demonetisation of Rs 500 and Rs 1,000 notes as transactions in this segment involved lots of cash payments, according to real estate consultant JLL."The real estate sector will definitely be affected by the demonetisation exercise as it has traditionally seen a very hig ...
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New Projects by Runwal at Worli, Andheri and Dombivali

Posted on Nov 17, 2016
The Reserve Private Residences (Next to Four Seasons, Worli). The Reserve has 26 storeys, 3 wings housing 3 and 4 BHK monuments to splendor, personal space and privacy. With 72000 sq. ft. of open space to be shared only amongst 72 residences, each residence enjoys a vast area of beautiful greens to bask in. Something never experienced before in thi ...
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Good time to buy luxury flats in NCR, says report

Posted on Nov 17, 2016
Delhi/NCRIf you are looking to buy an apartment, this could be a really good time to do so in the NCR. According to real estate pundits, in the short term and midterm, prices could undergo a correction in the luxury and secondary, or re-sale, market of apartments.However, not much change is expected in the affordable, end-user or primary markets of ...
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Godrej Properties Sales Bookings fall

Posted on Nov 15, 2016
Godrej Properties sales bookings fell 69 per cent to Rs. 987 crore during the first six months of this fiscal year mainly due to a big-ticket commercial deal in the year-ago period.The sales bookings stood at Rs. 3,208 crore in the first half of fiscal year 2015-16, according to an analyst presentation by the company.According to presentation, the ...
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In Mumbai: 3,000 flats in Dadar and Lower Parel at Mhada prices soon

Posted on Nov 15, 2016
Mumbais space-starved island city will soon have more than 3,000 houses on the block in three high-rise buildings, at prices significantly lower than the market rates.The houses will come up on prime real estate at Lower Parel and Dadar, where property prices go up to Rs30,000 a sqft. The construction is part of the states plan to redevelop the B ...
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Demonetisation may bring down resale flat prices in Mumbai

Posted on Nov 11, 2016
The demonetisation of Rs1,000 and Rs500 is likely to result in an up to 30% fall in the prices of resale flats across the city and its vicinity, said experts.The reason — majority of these flat owners demand cash (never on record) for their transactions, which will now difficult for buyers to come up with after the high denomination notes were scra ...
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Flat launches show green shoots in realty market

Posted on Nov 08, 2016
NOIDA: The Noida real estate market is showing signs of a recovery. According to a Q3 report released by real estate consultancy Colliers International , 4,000 housing units were launched in the city in the last three months compared with only 1,700 in Gurgaon.Of the total chunk of fresh launches across the country in the last quarter, 16% were in ...
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Godrej Prana Undri Pune New Launch Project

Posted on Nov 03, 2016
Here comes good news for them who are nurturing an elusive dream of owning a home in Maharashtra's cultural capital, Pune. The city also known as the IT Hub of Maharashtra has emerged as the most preferred living destination for students as well as young intelligence. The city is fringed by growing IT and manufacturing industries and is surrounded ...
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Noida to give registry NOCs for single flats

Posted on Oct 25, 2016
NEW DELHI: A new policy approved by the administrators of Noida and Greater Noida will unlock the gates for registry of nearly 40,000 flats in the twin cities that are currently stuck for no fault of the buyers.Registrations have not happened even after many buyers have got possession of flats because real estate companies haven't cleared their due ...
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