Homebuyers News

A new residential plot scheme consisting of around 2,000 land parcels is scheduled to be introduced by the Yamuna Expressway Industrial Development Authority (YEIDA) on the occasion of the Navratri festival. These plots, which fall into the smaller size category, are intended for buyers in the middle income group. The sectors close to the Noida International Airport would see the introduction of the new residential plot concept.

New project launches in the top six cities recorded a yearly rise of 171% Mid-segment properties were the most searched online Plotted developments are once again on the cards with a 24% total property searches

Property registrations increased by 78 percent in cities such as Mumbai, while prices increased by 20 percent in areas such as Bengaluru. 

He said the government should consider increasing the tax rebate for homebuyers significantly. Alternatively, the limit for deduction of interest should be increased to Rs 5 lakh in respect of the self-occupied property, it added. The limit on value of the unit be raised to Rs 75 lakh (for non-metro cities) and Rs 1.50 crore (for metro cities), it said.

This will bring down stamp duty price It's in favour of homebuyers

Several homebuyers had bought these apartments many years ago, but they have not been paying deposits for completion of the projects.

The group housing wing of the Authority earlier met eight leading developers of the 18 projects including Supertech Limited and Mahagun Realtors among others. Many flat buyers had expressed concerns over the registration of flats and its possession with the Noida government officials.

Godrej Properties probably set the trend by offering 10:90 scheme in its ongoing projects where a prospective buyer needs to pay 10% initially and the rest 90% on possession This scheme helped the company a lot in achieving over Rs 1,500 crore of sales bookings despite the pandemic Bengaluru-based Embassy Group is also offering a 10:90 scheme (pay 10% now and 90% on possession) as well as assured rent in some of its residential projects

The chamber said that in order to meet a minimum GDP growth target of 6 to 7 per cent, it is important to have a definitive plan for boosting the demand in the sector.

The Monetary Policy Committee of the Reserve Bank of India is currently having its first meeting for the fiscal year 2019-20 and the monetary policy announcement will happen today.

The FPCE, which is working for the cause of homebuyers, said the double burden of Equated Monthly Installment (EMI) and rent is breaking the backbone of a homebuyer for no fault of his or her.

Earlier, the police had lodged 13 FIRs against six builders in Noida.

With the number of residential project launches falling on the back of the implementation of the Real Estate Regulatory Authority (RERA) from May 1, brokers are planning to focus on rental market to get more business, a recent survey said.