-The Times of India NEW DELHI: Real estate developers across the country are in a quandary as the Centre has stopped them from marketing ongoing projects yet to be registered with their respective state's real estate regulatory authority (Rera), and most state governments are neither ready with rules under the new Act, nor have they created the authorities. In a written clarification to the National Real Estate Development Council (NAREDCO), the Union...
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Truth about PM's 'Housing for All' scheme: it is far off target
-Down to Earth Eighteen months and Rs 4,275.31 crores later, not even 0.1 per cent of the project could be completed "By the time the nation completes 75 years of its Independence (2022), every family will have a pucca house with water connection, toilet facilities, 24x7 electricity supply and access." It was May 2014 and the Modi-led government had just come to power. A year later, during the presentation of Annual...
More »Govt admits big gaps in urban work force -Basant Kumar Mohanty
-The Telegraph New Delhi: About 57.57 per cent of India's urban population of 300 million has no source of income, socio-economic data released by the government last week suggests, prompting at least one analyst to wonder if this was the reason people were willing to queue up for the whole day to exchange cash. Thirty-seven per cent are engaged in work ranging from begging to government jobs, earning some income. About 5.90...
More »One year of housing for all: At this pace, it’s indeed a dream by 2022 -Shalini Nair
-The Indian Express Housing activists say that a heavy reliance on private sector is the prime reason for poor pace of implementation of the PMAY New Delhi: A year after Prime Minister Narendra Modi launched the Pradhan Mantri Awas Yojana (PMAY) with the stated purpose of constructing two crore houses for the urban poor by 2022—at the rate of 30 lakh houses per year— merely 1,623 houses have been constructed so far. The...
More »Builders may have to pay 11% interest on delayed projects -Prabhakar Sinha
-The Times of India NEW DELHI: Developers may have to pay 11.2 per cent interest to buyers for delay in handing over apartments and homes, according to draft rules unveiled by the government, a step seen as bringing relief to homebuyers reeling under the impact of delayed projects and mounting loan liabilities. The rules also say projects without a completion certificate will have to register with the Real Estate Regulatory Authority, to...
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