The Real(ty) Snips: Thursday Rewind
The Real(ty) Snips: Thursday Rewind. Your inside track to the latest Delhi NCR real estate landscape from KnowbleR.
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MahaRERA Mandates Developers to Specify Amenities and OC Delivery Dates
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for developers to specify delivery dates for amenities and occupation certificates (OC) in their projects. This new rule aims to enhance transparency and protect homebuyers' interests. Developers must now provide clear timelines for completing common areas, facilities, and obtaining necessary certifications, ensuring better accountability in the real estate sector across Maharashtra.
Godrej Properties Enters Indore Market with 46-Acre Land Acquisition
Godrej Properties has made its debut in Indore's real estate market by acquiring a 46-acre land parcel for plotted development. This strategic move marks the company's expansion into a new city, aiming to tap into Indore's growing property market. The project is expected to offer a mix of plotted developments and apartments, catering to the increasing demand for quality housing in one of central India's fastest-growing cities.
Retail Sector Hits 5-Year High in H1 Leasing, Luxury Brands Surge in India
India's retail sector witnessed its strongest half-yearly leasing performance in five years during H1 2024. Luxury brands are driving this growth, expanding their presence in major cities. The surge is attributed to rising consumer spending and increased mall space availability. This trend highlights India's growing attractiveness for high-end retail and the sector's resilience post-pandemic, with cities like Mumbai, Delhi-NCR, and Bangalore leading in retail space absorption.
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Centre Unveils 12 New Industrial Parks and Mega Textile Projects to Boost Economy
The Indian government has announced the establishment of 12 new industrial parks and several mega textile projects across the country. This initiative aims to stimulate economic growth, create employment opportunities, and enhance India's manufacturing capabilities. The projects, spread across various states, are expected to attract significant investments and promote industrial development.
Mumbai Property Market Hits Record High in July
Mumbai's real estate market continued its record-breaking streak with its best-ever July performance. The city saw a significant increase in property registrations and stamp duty collections, indicating robust demand across various segments. This surge is attributed to factors like steady interest rates, diverse housing options, and improved infrastructure. The sustained growth in Mumbai's property market reflects strong consumer confidence and the city's enduring appeal to homebuyers and investors.
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