Real Estate Bill to be referred to the Select Committee on Wednesday

Much debate was seen over the Real Estate (Regulation and Development) Bill over the past few days. Congress party’s newly invigorated Vice President Rahul Gandhi strongly opposes the deal as he says that the Bharatiya Janata Party (BJP) is amending it only in favor of the builders. He considers it to be anti homebuyer and highly favors the builders. Rahul Gandhi also pulled out a last minute homebuyers protest on Monday.

The Rajya Sabha said that it would refer the bill to the select committee for discussion on Wednesday. The government also urged Rahul Gandhi to thoroughly study the proposed amendments before opposing it and starting a protest against it. But with the opposition gaining more power by the day, the House is trying to bring in more parties to support the bill so that they can pass it. [Read more...]

Jan-Mar 2015 Report: Buyers Prefer Larger Homes over Smaller Ones

While affordable housing and low cost residential properties were all over the news in 2014 and early 2015, the demand for larger houses, much to everyone’s surprise, witnessed an upward movement. According to the reports of Magicbricks.com, the demand for plotted developments also increased in the first quarter of 2015.

The trends noticed by the real estate experts suggests that instead of going for a small one bedroom apartment for a very low price, buyers are inclined towards investing a little more into a larger home that gives perfect value for their money. People are searching for larger houses that can fit into their budgets. The trend was seen in the most active real estate markets like Noida, Gurgaon, Chennai and Bangalore. [Read more...]

France joins hands with India for Smart Cities, Railway and Space Research Projects

Prime Minister Narendra Modi’s France visit on April 10 proved to be very fruitful. As per reports, France will collaborate with India in the development of its smart cities. The country would also partner India in a study aimed at the upgradation of the Chandigarh-Delhi Railway Line and speeding it up to 200 km per hour. Renovation of Ludhiana and Ambala Railway Station has also been planned.

In his meeting with Modi, French President Francois Hollande expressed his keen interest in the list of smart cities to be developed in India. As a result, it was marked as the technical cooperation under the field of Sustainable Urban Development between India and France. The assistance from France would be a major help for the government of India in setting up self-sufficient smart cities in different parts of the country. These smart cities would also boost the residential and commercial real estate around these areas. [Read more...]

CCI May Soon Give Order to curb unfair ways in India’s Realty

propertynewsindia.in1  CCI May Soon Give Order to curb unfair ways in India’s RealtyA number of builders are being probed by CCI for their alleged anti-competitive trade practices. The upcoming order can put an end to the malpractices in the real estate segment.

In its bid to put a tab over unfair practices in the realty sector of the country, the Competition Commission of India is expected to set to finalise its order on alleged unfair business practices in the realty sector.

According to media reports, the CCI, which has already issued notices to a number of real estate entities with regard to the cases, has completed the personal hearings of these cases and hence it would soon be coming out with its order to address this issue. [Read more...]