Sector 144 Property

Though over two years have passed since the Real Estate (Regulation & Development) Act, 2016, has been enacted, the market is still recovering from the side-effects of consumer-friendly law. But, the top brands in the sector have gained the most since the law came into effect, says a report.

After the first trial run that was conducted in April between Greater Noida Depot and Sector 147, the second set of runs began on July 25. The trial run is now being conducted between Noida Sector 83 and Greater Noida Metro Depot. The project being developed by the Noida Metro Rail Corporation (NMRC) at an estimated cost of Rs 5,503 crore, is expected to become operational in December this year.

In order to provide relief to homebuyers and stop builders from using loopholes in the Real Estate (Regulation & Development) Act, 2016, efforts are being made by state authorities to provide more teeth to the law.

MakaaniQ lists ten upcoming skyscrapers in India, which are in various stages of construction.

Right after the Reserve Bank of India (RBI) increased repo rate — the rate at which it lends money to other banks — to 6.50 per cent, several financial institutions, including country’s largest mortgage lender HDFC, have announced a hike in lending rates. This means cost of borrowing is going to get costlier for homebuyers.