Valuation of immovable properties owned under general power of attorney (GPA) might fall by about 20 percent as the Supreme Court has declared the sale of properties through this deed illegal, industry experts said Friday.
The real estate sector has expressed guarded optimism on Supreme Court ruling that terms as “illegal” any sale of immoveable property through power of attorney (POA) unless the case is “genuine”.
Housing supply is estimated to fall short of demand by 1.3 million units in seven major cities of the country during the next five years, according to a report.
The repo rate hike by the Reserve Bank of India (RBI) by 25 bps seems to have spoiled the festive spirit of the real estate sector.
The Royal Institution of Chartered Surveyors (RICS), which set up its India operations nearly three years ago, has now formed a new world region ‘RICS South Asia’ as it looks to strengthen its presence in the Asian subcontinent.
US-based real estate developer Alexandria’s Indian arm — Alexandria Real Estate Equities Inc is planning to invest around Rs.500 crore to develop a biotechnology park in Bangalore.
Standard & Poor’s Rating Services on Monday, July 4, said the surge in real estate prices in some pockets in India could emerge as a credit risk for banks.
Godrej Properties Ltd has been voted as amongst the ‘Most Trusted Names’ in the Real Estate Industry.
The Royal Institution of Chartered Surveyors has launched the RICS Valuation Standards (the ‘Red Book’) – India edition with valuation standards of global application along with India-specific guidance.
The National Housing Bank (NHB) and Indian Banks’ Association (IBA) are jointly preparing the norms, standards and procedures for real estate valuation.