To facilitate and ease the process of safe home buying, the Ministry of Housing and Urban Affairs publicly launched “CREDAI Awaas App” and NAREDCO’s online portal “HousingforAll.com”. The initiative aims to provide a credible platform for prospective home buyers and help them interact with... Read more...
The new Consumer Protection Act that took effect from July 20 has changed the jurisdiction of the National Consumer Disputes Redressal Commission (NCDRC) to Rs 10 crore from the earlier Rs 1 crore. This means that only homebuyers who have paid an amount in excess of Rs 10 crore can file a case in th... Read more...
In a representation listing the 14-point charter of demands, The Coimbatore chapter of the Confederation of Real Estate Developers Associations of India (CREDAI) has sought specified time of clearance of building projects since the current approval process takes a minimum of six months to one year. ... Read more...
The real estate market in Kolkata has bounced back with aplomb, registering sales of nearly 850 units valued at Rs 400 crore in June. NK Realtors, a real estate consultant in the city, has sold 210 units worth Rs 100 crore during the month. The company saw a steady improvement in sales from 120 u... Read more...
Real estate regulators are writing to the RBI, seeking one-time debt restructuring for the industry to help developers overcome the liquidity issues, Uttar Pradesh RERA Chairman Rajive Kumar recently said. Industry bodies CREDAI and Naredco have been demanding onetime restructuring of developers ... Read more...
The Prime Minister’s Office (PMO) has assured that the issues faced by the developer community will also be looked into. Responding to a direct petition by a Mumbai-based NGO Samachar Foundation seeking the Prime Minister’s intervention into the real estate crisis, the PMO explained that the ... Read more...
In a letter written to Prime Minister Narendra Modi, NCP chief Sharad Pawar has expressed concern over the state of the real estate sector, following the Covid-19 pandemic and subsequent lockdown and has sought the intervention of Prime Minister Narendra Modi. The letter stated, "A massive outflu... Read more...
Real estate developers across the country are joining hands to source raw material supplies in bulk from manufacturers at preferred rates as a cost-saving measure. Developers estimate the move to collate orders will fetch at least 5-7% cost-benefit to developers and ultimately to homebuyers. Apart f... Read more...
The real estate sector is unable to leverage the benefits of reduction in repo rates and appropriate directions should be given to banks to pass on the rate cut to NBFCs/HFCs to enable them to lend to the realty sector at a lower rate of interest, builders' body Credai has written to RBI Governor Sh... Read more...
CREDAI representing more than 20, 000 developers across the country has written an open letter to PM Sh. Narendra Modi seeking immediate measures to revive the ailing real estate sector, which remains one of the most affected sectors due to COVID 19. According to CREDAI, The sectors survival i... Read more...