When the Reserve bank of India was announcing the CRR rate cut by 50 base points, the house wife Sugnadha Dubey, glued to TV news channels, couldn’t resist the temptation to call up her husband to know whether the EMI burden on this middle class home owner is going to ease out from next month. With no background of the world of financial jargon, her husband could only assure her with a wishful thinking.
CREDAI has opposed the proposed Land Acquisition and Rehabilitation & Resettlement (R&R) Bill, and said with proposed R&R to the farmers the construction industry would become an unviable proposition.
The latest interest rate hike by the Reserve Bank of India (RBI) is bound to push up the price of housing loans as well as the residential apartments.
Amidst apprehension of rate hike in Noida Extension after the Allahabad High Court ordered more compensation to the farmers, CREDAI said the builders in Noida Extension have decided not to pass on the extra cost to the existing buyers.
After the Allahabad high court cleared land acquisition in 60-odd villages, barring a few where no real estate activity was on, hope has begun floating for thousands of middle-class buyers.
Though the developers have hailed the Allahabad High Court’s judgment on Greater Noida land acquisition, they said existing flat buyers will be immune to higher compensations to farmers.
The National Association of Realtors, India (NAR-India) on Saturday, July 23, signed a bilateral agreement with CREDAI to make property purchases more transparent for buyers across the country.
Mahagun has promised full refund to the buyers who booked flats in its project at Noida Extension.
Addressing a press conference on Thursday, the newly-elected members of CREDAI National said the mission would give the real estate industry and all activities connected to it a fair image.
The report highlights the need for new urban centers in the country, and shortlists 45 potential mega-cities such as Nagpur, Lucknow, Jaipur, Kochi and Bhopal, among others.