In: Property, Related News Goatimeline

Panaji: The triple impact of demonetization, Real Estate and Regulation Act (RERA) and goods and services tax (GST) has created uncertainty in the real estate market across India, including Goa, say industry experts. President of the Goa chapter of the Confederation of Real Estate Developers’ Associations of India (Credai), Jagannath Desh Prabhudesai, said the Goan real estate industry has been trying to adjust itself to the changes. “We were going through a recession when demonetization happened, and it created a huge currency crunch in the market. The industry was trying to balance itself when GST and RERA were introduced, almost at the same time. WeRead More →

Building

In: Property

The new legislation to regulate the building industry in the country has been welcomed by everyone. AJIT JOHN spoke to builders in the State to understand their reaction to this piece of legislation that will change the modus operandi of many The initial reaction to RERA has been very welcoming. And the general consensus is that it will take three months for the bill to be implemented in the State. The Real Estate Regulation and Development Act will radically overhaul the way the industry is run. The essence of the legislation is to provide protection to the individual interested in buying a house. It isRead More →

Reuters

In: Property

By Suresh Hiranandani Luxury is becoming the new norm of living. This statement captures the essence of the ever evolving real estate market in India. What was luxury yesterday has become a necessity today. The high-ceiling ornate mansions surrounded by manicured lawns shaded by leafy oak trees, which spelt luxury in the colonial era, have given way to a more modern, urban culture of functional and elegant spaces defined by judicious use of design and materials. Although, luxury real estate segment has diversified in terms of its offerings and features, certain aspects have not kept up pace with time. The concept of luxury living shouldRead More →