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...]

Gurgaon Master Planning Requires Due Attention of the Government

In the last 10 years, Mumbai and Gurgaon have been reported as the two highest contributors to the commercial real estate market of India. Recently after the withdrawal of the Mumbai Master Plan 2034, the planning of these two urban clusters has also been brought to attention. The former was withdrawn due to the lack of credibility and authenticity of the master plan data. Some really important planning issues had been overlooked in the Mumbai Master Plan.

If a flawed master plan is passed, it is the city and its dwellers who will have to pay in the long run. The municipal government has always given the least attention to the planning part. The high authorities and the bodies directly involved with the land interventions enjoyed a better part of the governance. These bodies include influential personalities like bureaucrats, developers associations and politicians. [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...]

How Brookfield Real Estate Trust Can Reinvigorate India’s Realty

propertynewsindia.in1  How Brookfield Real Estate Trust Can Reinvigorate India’s RealtyBrookfield could be planning to initiate a $500 million real estate trust and this could very well create new opportunities for the segment in India.

As the Canadian asset management organisation, Brookfield is all set to create a real estate investment trust (REIT) and list it in India, the move is likely to revitalize the country’s real estate segment towards a renewed prospect to growth and prosperity.

This can very soon be a reality, once India finalizes its rules governing REITs, which are typically attuned to provide high dividend yield along with capital appreciation to the investor community and hence this could very well create a unique set of value proposition for investors eyeing the real estate segment in India. [Read more...]

How Odisha is Making Low-Cost Houses for Poor

propertynewsindia.in1  How Odisha is Making Low Cost Houses for PoorThe government of Odisha is making all the effort to create solid housing infrastructure for the poor in the state.

In a bid to provide low cost housing for the poor strata of the society, the Chief Minister of Odisha has announced plans to launch Shelter Security Mission in the state.

As part of this program, the government would be spending between Rs 15,000 to 20,000 crore and looking forward to provide low-cost affordable housing for the poor in both rural and urban areas of the state. [Read more...]