Weekly News Roundup (6 May 2016) – Real Estate News Under 100 Words

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Unsold inventory in real estate increases by 31%: Report
This year the unsold flats in MMR is 2.26 lakh against 2 lakh in 2014-2015, while in Greater Mumbai, the unsold flats are 84,915 against 80,425 in 2014-2015. Year to year, the unsold flat inventory has gone up by 31 per cent, while the quarter to quarter inventory is seven per cent. Read more

Real estate developers to land in trouble for taking consumers ‘for a ride’
The government is expected to soon set up the office of Real Estate Regulator. The Real Estate (Regulation and Development) Bill, 2016, became an act on May 1. It set off the process of framing an institutional infrastructure to safeguard the interests of home buyers in India. Read more

Haryana told to stop realty projects in Aravallis to save water
Environment analyst Chetan Agarwal said Bhood refers to sand dune areas. Due to the loose nature of the soil they have high infiltration rates and are superior groundwater recharge areas. Read more

Ahmedabad ranks 5th in unsold housing inventory
Despite prices remaining stable, the real estate market in Ahmedabad seem to be gaining little traction. A latest study by Associated Chambers of Commerce of India (Assocham) ranks Ahmedabad fifth in terms of having the highest unsold residential inventory. Read more

A real estate expert who sold an $11 million home in 10 hours explains how to make your own luck
The star of Bravo’s “Million Dollar Listing Los Angeles” and cofounder of real estate firm The Altman Brothers has sold over $1.5 billion in real estate, including the most expensive one-bedroom house in history, which sold for over $20 million. Read more

Distressed office projects emerge as good buyout options
There are mainly two dominating trends in the office sector—one, buying out of built and leased office assets where global PE investors such as Blackstone Group Lp predominantly operate and, second, buying land to build greenfield office projects. Read more

RERA boosts real estate sector sentiments
The benefits provided to homebuyers in Budget 2016 are also expected to push demand further. Stakeholders are optimistic about residential sales – nearly 54% of the respondents believed that the demand will pick up in the coming six months, it says. Read more

Delhi-NCR stuck with highest unsold housing inventory says report
The study by Assocham observed that in spite of a fall in prices and interest rates, demand for residential market has witnessed a steep decline by 25-30 per cent whereas the demand for commercial space dropped by 35-40 per cent in Delhi-NCR region over the last year. Read more

What does real estate Act change for you?
The condition is worse in the National Capital Region (NCR) but is also prevalent in other cities. Residents of Nalin-Malad housing society in Mumbai had signed a redevelopment agreement. Read more

Home sales increase 6% in India’s top eight cities during January-March
Home sales across India’s top eight cities increased 6% in the January-March quarter from that a year ago, helped by stagnant pricing, discounts from builders and launch of new projects at lower prices in some cities. Read more

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