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.
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.
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.
Spanning 2.6 million sqft, eight malls are likely to become operational in Hyderabad during 2017.
The house price to annual income ratio in Mumbai is 9. It should not be more than 4 at any point of time.
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.
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.
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.
Investors have told the court that they had paid money to the firm on time and the company was scheduled to hand over the possession of flats in 2012, but has not done so.
Income from operations rose by 1.46 per cent to Rs 2,070.67 crore in July-September, from Rs 2,040.84 crore in the corresponding three months of the previous year.
Experts believe that after the initial setback, the real estate sector will bounce back with greater transparency and bigger investments.
The plea alleged "this case is a glaring example of how the officials of the State and Authority connive with big builders and deprive poor villagers of their land".
Lack of funds and high land and development costs are the primary reasons for developers not opting for smaller sized units closer to city centres.
The watchdog noted that as per the allegations, the company cheated and defrauded the informants.