Properties for Sale in Kaamdhenu Sai Ashok

The luxury residential market of Bengaluru, which is a key attraction for NRIs and migrant professionals, includes the micro-markets in upcoming suburbs as well as established localities in central Bengaluru. MakaaniQ lists five such micro-markets based on the current pricing.

The National Capital Region Transport Corporation is planning to link the Delhi Metro with high-speed railway network that will bring down the travel time between the national capital and the cities that fall under the NCR. The project, which is estimated to cost Rs 1 lakh crore, is expected to cater to over 20 lakh commuters daily. The completion deadline for the project is yet to be finalised.

The Noida authority has decided to impose fines between Rs 500 and Rs 5,000, on those who dispose of waste into the city drains. During an inspection, it was found that of the 14 existing drains in the city, a 17-kilometre irrigation drain from Ashok Nagar in Delhi to Sector 168 near the Yamuna is the worst-affected. The city spends around Rs 140 crore annually on waste disposal, and had been taking some waste management measures with the help of NGOs and RWAs.

Because of a slowdown in sales, the rising cost of construction and labour, the developers have been hit hard. The burden of the borrowings taken at high interest rates have further eaten into their profitability or have been passed on to the homebuyers. As the Union Budget will be presented on February 1, the real estate stakeholders are now putting forth their wishlist, hoping for some concessions and an industry status.

The year 2017 has been a roller-coaster ride for all the stakeholders of the real estate sector. After the Narendra Modi-led government announced demonetisation in November 2016, the industry was trying to recover from the setback it caused. However, introduction of new laws such as the Real Estate (Regulation & Development) Act, 2016, and the Goods and Services Tax further slowed the pace of property sales across the country. Even cheaper home loans did not encourage homebuyers to invest. However, in the end, all the newly introduced reforms did discipline the players in the sector with stringent rules and penalties for violations. Industry experts believe that 2018 would be a year that will witness sales picking up.