Latest Real Estate Updates

"Urban planners and experts TOI spoke to said the city needs operational guidelines to implement the MPD and these should be a part of the document"

Three years and more than 100 amendments later, the revised Master Plan for Delhi 2021 (MPD-2021) is nearly ready. While the Centre will soon notify provisions for transit-oriented development (TOD) and the environment, some amendments have already been implemented.

"The ongoing stock market decline has been relentless in its punishment of leveraged and cyclical companies. Not surprisingly, real estate stocks have taken it on the chin in the recent decline."

The ongoing stock market decline has been relentless in its punishment of leveraged and cyclical companies whose shares tend to have higher beta. 

"Sriram Kalyanaraman believes that in most cities, prices are too high and they need to come down"

Sriram Kalyanaraman,CEO & MD of National Housing Bank, believes that property prices, at least in some pockets, are way too high and developers should lower prices to revive the economy. In a wide-ranging chat with ET's Sangita Mehta, Kalyanaraman said NHB is trying to create an eco-system, which will encourage deep-pocket entrepreneurs to float housing finance companies, which in turn, will help achieve its vision of `housing for all'. Edited excerpts...

"TOD Projects To Start Early Next Year, To Be Over In 5 Years"

The east side of the city is all set to get smart.Starting early next year, two new infrastructure projects offering 8,000 flats are coming up in Karkardooma and Trilokpuri.

To be built on TOD (transit-oriented development) guidelines, both the projects will give commercial as well as residential spaces. While the Karkardooma project will have 5,000 flats, at Trilokpuri--where the flats will come up right opposite Sanjay Lake--3,000 will be up for grabs. Also tagged as smart cities, the complexes will be built near Metro stations and will have landscaped parks and green areas. The buildings, too, will be totally green with complete recycling of waste, including plastic. The projects are being undertaken by National Buildings Construction Corporation (NBCC), a PSU. They will be completed in five years, said NBCC head Anoop Kumar Mittal.

The housing ministry has identified 305 cities and towns across nine states to start building houses for the poor in urban areas. The government has set the target to provide houses to two crore families belonging to the economically weaker section (EWS) in urban areas by 2022.

The states that are likely to gain are Chhattisgarh, Gujarat, J&K, Jharkhand, Kerala, Madhya Pradesh, Odisha, Rajasthan and Telangana.Moreover, six other states --Andhra Pradesh, Bihar, Manipur, Mizoram, Nagaland and Uttarakhand -have agreed to implement six key reforms relating to clearances and approval for housing projects to accelerate their construction.

"All of it really depends on how much focussed a builder is upon moving out the inventory"

With the real estate sector facing a slump across the NCR, experts say there is an urgent need for correction in property prices.

In fact, according to them, a slight drop in property rates could be expected in the next few months. But, all of it really depends on how much focussed a builder is upon moving out the inventory. The real estate sector has been affected by declining sales due to high prices and low demand. Currently, NCR builders could be having anything between 35 and 45% of apartments in cold storage, with Noida alone accounting for as many as 40,000 unsold units.

"Even standing room is scarce at Delhi's low-cost carriers' terminal. TOI unveils details of the plans to revamp it altogether"

A man Varma, a Karol Bagh-based exporter who flies frequently on work, dreads the thought of going to IGI Airport's Terminal 1D, from where domestic flights of budget airlines depart.He hates the serpentine queues there ­ the terminal is as crowded as any railway station or a bus terminus. In the peak hours, he has to line up for everything ­ from getting past the entry gates to checking in and then passing through the security check.