From application to refund, the Delhi Development Authority had this time planned to make the scheme an online affair to reduce the long queues of flat buyers at its headquarters.
He also pitched for improving the ease of doing business, state-funding of elections and early introduction of GST to curb corruption.
Unsold inventory levels drop to its lowest level in last six years to 28,088 units in H2 2016, the report said.
Home sales in Bengaluru, which is seen as a resilient market, also fell 45 per cent in the October-December quarter as compared to the year-ago period.
Both REITs and InvITs are vehicles created to primarily invest in revenue-generating real estate/infrastructure assets.
Dhruv Agarwala, co-founder and CEO of PropTiger, will serve as CEO of the joint entity. Jason Kothari, CEO of Housing.com, has decided to move on to pursue other opportunities in the Indian internet space, the statement said.
An infrastructure investment trust (InvIT) is like a mutual fund that enables direct investment of small amounts from individual/institutional investors into infrastructure to earn a small portion of the income as return.
This represents more than 75 per cent of the 400 apartments that were opened for sale, making it one of the most successful recent residential launches, the Mumbai-based developer said in a statement.
Loans up to Rs 75 lakh will attract interest rate of 8.7 per cent per annum, while it will be 8.75 per cent for higher amounts, HDFC said in a statement.
Under the 'Pradhan Mantri Awas Yojana', the urban poor people constructing houses will get up to four per cent subsidy on interest rate for constructing houses up to Rs 9 lakh. The interest rate subsidy will be three per cent on house construction cost of up to Rs 12 lakh, the Prime Minister said.
The practice of buying a property in the name of someone other than the buyer has been widely misused to buy real estate with undeclared income and with fake names and identities to avoid paying tax.
HDFC's Keki Mistry cited the example of the demand for housing which suffered in the wake of the Lehman crisis in India to back his optimism.
Multiple reports following the November 8 demonetisation have also said that there may be adverse impact on the real estate sector.
However, little correction in pricing is expected in metros, while land prices in the small towns may witness high price cuts post a lull in sales.
The multi-year slowdown did not deter investment as cash-starved developers raised Rs 48,300 crore in 2016 from PE investors to fund their projects, up 53% from last year's, according to property consultant Cushman & Wakefield.
Ms Karnad of HDFC says the interest of people to buy homes or locate a property still continues to be very good.
Any move to clean up India's messy real estate market could prove to be a mammoth and messy task and would come even as the Modi government is facing mounting criticism of its handling of the cash crunch that followed the scrapping of higher denomination currency notes.
The move comes after Sebi earlier this month had issued detailed norms for public issuance of REITs, including allocation of units to institutional investors.
A top Finance Ministry official said the government will do everything to strengthen the institutions required for effective operationalisation of the law.
Australia-based Macquarie Group will put in Rs 1,400 crore while the Tata group firm will contribute Rs 600 crore.