Lenders seeks clarity in RERA

KOLKATA: The lenders to housing promoters and builders are feeling unprotected under the new RERA (Real Estate Regulation and Development Act, 2016), regime and seek clarity on safety of their loans. Lenders who fund developers for real estate projects feel their role is not covered or lacks clarity in the new regulatory framework. They said […]

Leave out existing projects, real estate body urges government

Kolkata: The Real Estate (Regulation and Development) Act aimed at offering protection to home-buyers may have concerns about the registration of existing projects under the Act. The construction cost is also likely to escalate by 10 per cent with the RERA coming into force from May 1. “As per the law, one has to register the […]

Realty bill stuck in Bengal 48 hours before deadline

The deadline to notify and implement an important legislation to protect the interests of home buyers is only 48 hours away, but lack of information on its implementation in West Bengal has put retail property customers in a quandary. The Real Estate (Regulation and Development) Bill, 2016, passed by the Centre in March last year […]

RERA will push construction cost by 10%: CREDAI

KOLKATA: Real Estate (Regulation and Development) Act (RERA) aimed at offering protection to home buyers is expected to have a negative impact on home price. “There will be rise in price of homes due to higher compliance and finance cost for the builders after RERA is in force. Initially, we expect 10 per cent jump in construction […]

RERA to give big boost to real estate market, say industry experts

Kolkata, Apr 28 (IBNS): The advent of the path-breaking Real Estate Regulation & Development Act, 2016 (RERA) gave a big boost to the real estate market helping both the developers and homebuyers in the process, said industry experts on Friday at a seminar organised by The Bengal Chamber of Commerce in association with MACJ – […]

Realty rains deals to repair DeMo damage

March 16: Cash back till possession is the new selling point of that condo you wish to own but have postponed buying in the hope of a better deal. Seeking to drum up sales in a sluggish market, developers in Calcutta have started offering direct cash benefits to prospective home buyers. At least two top […]

Sale of luxury homes picks up pace in Kolkata

KOLKATA: While tepid demand and a pile up of inventory slowed down launches of real estate projects in the city by 30%, it has paved the way for higher interest in luxury properties whose prices, too, have been reducing. Properties on high streets, like Ballygunge and New Alipore, are now priced between Rs 18,000 and Rs 20,000 per […]

Register your home early, pay less

After Arun Jaitley wooed middle class home buyers with a bonanza in the Union Budget, it is time for Amit Mitra to dangle the carrot. The state government on Friday offered incentives to encourage timely registration of properties instead of delays that run into years and hold up stamp duty and registration collection that amounts […]

Rs. 2 lakh ‘gift’ awaits first-time home buyers

Kolkata: Prospective first time home buyers with an annual earning not exceeding Rs 18 lakh will virtually get Rs. 2 lakh waiver on down payment while availing themselves of a home loan. A person buying a flat priced Rs 85 lakh and taking a loan of Rs 72 lakh will also get the benefit, irrespective […]

First home dream turns real for buyers

Calcutta, Feb. 7: The requirement of down-payment for home loans may go down for first-time buyers when the interest subvention scheme announced by Prime Minister Narendra Modi is rolled out, builders’ body Credai has said. The government has offered a 4 per cent discount on interest rates for a loan up to Rs 9 lakh and […]