Realty News Roundup: Maha Govt Gets Go Ahead To Set Up Real Estate Regulator; Majority Of Projects In UP Face Delay Of 35 Months, Says Assocham

Realty New Roundup is PropGuide's selection of top stories from the real estate sector.

Top News

While the Centre is still struggling to set up a national real estate regulator, it has given its go ahead to the Maharashtra state government to constitute a regulator of its own. This comes three years after Maharashtra announced the plan, Mint reported. The state would complete the formalities to establish a Housing Regulatory Authority (HRA) and Housing Appellate Tribunal (HAT) in a month, the report added citing unnamed government officials. Read more 

Almost 86 per cent of the total realty projects in Uttar Pradesh (UP) remain stuck and face an average delay of 35 months, says a recent report by Associated Chambers of Commerce and Industry (Assocham). According to a The Times of India report, real estate investments in UP have grown at a compounded annual growth rate (CAGR) of about 32 per cent between 2005-06 and 2014-15. Read more

Off the frontpage

According to a new report from Fitch Ratings, the residential property prices will remain stable in 2016 driven by improvement in demand. Property developers have been reluctant to reduce prices and had instead used easy-payment schemes to woo buyers. “As a result, there has not been a major price correction in residential real estate since at least 2011, according to the residential price index published by the National Housing Bank of India,” the report said. Read more

Lower interest rates and demand for new homes in smaller towns and cities are driving up the home loan growth. It had gone up by around 19 per cent till September this year, The Times of India reported. This time smaller lenders such as Syndicate Bank, Andhra Bank, Central Bank of India and UCO Bank were registering growth rates higher than private players such as ICICI Bank and HDFC, the report added. Read more