The ancient Chinese curse, 'May you live in interesting times,' certainly has a lot of pertinence to the Indian real estate today. These are doubtlessly the interesting times for the sector, which has transformed significantly over the last decade.
The Supreme Court has stayed all construction activities in the states and union territory, which do not have a Solid Waste Management (SWM) policy under the Solid Waste Management Rules, 2016. States such as Maharashtra, Uttarakhand and Madhya Pradesh, and the union territory of Chandigarh have come under the scanner.
According to economic survey 2015v16, the decade to 2011 saw inter-state migration of 60 million people and inter-district migration of around 80 million people. However, within the next four years, by 2015, the number of inter-state migrants increased by 45 million.
The IIP number for the month of June 2017 came in sharply lower at -0.1% compared to 1.7% in the previous month of May 2017. A correction in the IIP was expected in the month of June due to the impact of the GST launch, although it was not expected to dip into negative territory.
Peninsula Land Ltd has announced that their latest luxury residential project in Byculla received the registration certificate for RERA (Real Estate Regulatory Authority). The registration number for the project is Maha RERA Reg. No P51900000642. Launched nine months ago, Salsette 27 is already registered in MahaRERA website.
Rajiv Ranjan Mishra, Joint Secretary, Ministry of Housing and Urban Poverty Alleviation, has urged the states to complete the process of notification and appointment of full-time regulators at the earliest for Real Estate Regulation Act (RERA) to positively impact sales and the industryÂ’s profit.
Odisha is planning to build one lakh houses for economically weaker sections (EWS) and lower income groups (LIG) by 2022 under the policy of Â‘Housing for All in Urban AreasÂ’, according to Housing and Urban Development (H&UD) Minister Pushpendra Singhdeo.
The government has expressed the vision of 'Housing for all' by 2022, so in that sense the budget showcases a long-term vision. We are hoping that the government should articulate action plans that would follow their expressed intent. It was vastly anticipated that the budget would arrive at correcting the market drawbacks as a whole.