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As the property graph continues to go down, the state government plans to reduce the property rates in the Ready Reckoner to reflect reality. The reduction might well be in the range of 10 to 30 percent of the rates for various areas in the existing Ready Reckoner. The decrease in Thane and Pune, where the recession has hit badly, will be more. ...

Buyers in Pune have adopted a wait-and-watch policy in an anticipation of a steep fall in prices as builders scramble to prevent a further slide. Statistics with the stamp registration controller's office suggest that property deals slowed down from August 2008 and despite the Centre's reduced loan rates package in December, the trend saw ...

Real estate developers have come up with a new gimmick to attract buyers. After budget-houses, builders have come out with 'semi-luxury' flats to cater to high-end buyers. The purpose is to provide various amenities offered by premium projects, but keep the houses affordable by making them smaller. Such houses cost 10 to 20 percent more ...

A survey by global real estate consultancy Cushman and Wakefield (C&W) has revealed that average capital values of luxury properties in posh localities across major metros have fallen by 10%-20% during the last three months. Residential rental values for the same segment have also been affected, with some locations witnessing a drop as high as ...

Housing for all has remained an elusive goal in a country which is seeking to become a global economic power. The current economic crisis offers an opportunity to turn this dream into reality. The slump in realty, created by the global economic slump, has already driven many developers to increasingly look to build affordable houses for the lower ...

As per a study, DLF, Parsvnath and other property firms have lagged behind by 54 per cent in their target to open retail space even as retailers' vacancy climbed to 16 per cent in 2008. Fund-starved realtors failed to deliver 11 million sq ft of retail space in 2008, according to a study released by Cushman & Wakefield. Out of the proposed ...

After the Reserve Bank of India reduced its key benchmark rate and cut the cash-reserve ratio requirement, property developers are expecting an increase in sales of homes. They are optimistic about attracting more overseas investment in projects as demand revives. Mr. Rohtas Goel, chairman and managing director of Delhi-based Omaxe, said, "We ...

Property rates in middle-class neighbourhoods of Delhi have grown at a much faster pace than key localities between 2001 and 2007, according to the country's first real estate price index. Latest NHB Residex data, released by home loans regulator National Housing Bank (NHB), revealed that prices in South Extension and Safdarjung Enclave in New ...

The real estate sector is one of the worst-hit sectors globally thanks to the financial slowdown, but for the well-to-do Indians, this is an excellent opportunity. With property prices falling across borders, buying property abroad is suddenly making sense to affluent Indians. "The property slump is not just confined to India. Prices have ...