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In its Third Bi-Monthly Monetary Policy Review on August 2, the Reserve Bank of India (RBI) reduced repo rate —the rate at which the Central bank lends to financial institutions—by 25 basis points (bps), to bring it down at six per cent, the lowest since November 2010. This could possibly be the best time for a buyer to invest in property.
It was mandatory for real estate developers to register their “ongoing projects” with state real estate regulatory authorities concerned, as mandated by the Real Estate (Regulation & Development) Act, 2016. Developers had time till July 31 to register their projects. Unfortunately, even if promoters are ready with everything to become RERA-complaint, states are not.
There has been a three per cent increase in the number of home sales across top nine cities of India in the first quarter of the financial year 2017-18 when compared to the fourth quarter of the previous financial year, shows a report by PropTiger DataLabs. As developers prepared themselves to comply with new norms, new project launches also took a hit, falling 43 per cent Q-o-Q.
We are of the belief that you need the help of these three people to complete the home-buying process in the smoothest way possible.
Have Rs 1 crore and want to invest it in property? We look at how many options await you in top nine cities of the country.
