Real Estate This Week
The Indian real estate sector is undergoing significant transformations, driven by government initiatives, shifting market demands, and evolving trends. From the expansion of the Pradhan Mantri Awaas Yojana(PMAY) to the growth of sustainable office spaces, these developments are set to shape the future of the industry. Don't miss out on the key stories that matter. Read now and stay ahead of the curve!
?1.???? The Union Cabinet on August 9 approved the implementation of the Pradhan Mantri Awaas Yojana – Gramin (PMAY-G) during 2024-25 to 2028-29, wherein financial assistance will be provided for the construction of houses at existing unit assistance of Rs 1.2 lakh in plain areas and Rs 1.3 lakh in North Eastern Region States and Hill States of Himachal Pradesh, Uttarakhand, Union Territories of Jammu & Kashmir and Ladakh. Read more
?2.???? Residential prices and sales in the North West Bengaluru region — including places like Malleshwaram, Rajajinagar and Peenya — are expected to grow at a higher rate, as compared to other parts of the city over the next five years, according to a report by data analytical firm CRE Matrix. Read more
?3.????? Higher sales of homes, collections to offset rise in debt in the real estate sector. Real estate developers’ collections from bookings are seen rising 19-21 per cent on year, while cash flows from operations are expected to grow 9-11 per cent: ICRA. Read more
?4.???? The Bruhat Bengaluru Mahanagara Palike (BBMP) is taking a stronger stance against property tax defaulters in Bengaluru. A new notification issued by the Karnataka government under the BBMP (Property Tax Assessment, Recovery, and Management) Rules-2024 empowers the civic body to attach the bank accounts of those who haven't paid their dues. Read more
?5.???? The Indian real estate market is witnessing a significant shift towards sustainable office spaces. A recent report by Colliers highlights a surge in demand for green-certified buildings, with Bengaluru and Mumbai emerging as frontrunners in this trend. Read more
?As the Indian real estate market continues to evolve, it's essential for investors, buyers, and developers to stay informed about the latest trends and policy changes. For expert guidance and personalized advice, reach out to Stanley Estates, your trusted partner in real estate investments.