Home Buyer

Nearly 45 per cent of Indian respondents plan to move into a new home over the next two years and most of them, including millennials, want to purchase residential properties instead of renting, according to a survey. Based on the survey, property consultant CBRE India released a report 'Voices from India: How will people live, work and shop in the future?'. The sample size of the global survey was more than 20,000 people, of which 1,500 were from India across age groups -- Gen Z (Age 18-25), Late Millennials (Age 26-33), Early Millennials (Age 34-41), Gen X (Age 42-57) and Baby Boomers (Age 58+). The survey found that respondents display a stronger intention to move to a new home in the next two years (44 per cent as against 31 per cent in the previous two years). This is significantly higher when compared to both global and Asia Pacific (APAC) respondents. "Gen Z led the preference towards moving to a new home in the next two years, compared to only 29 per cent of baby boomers. T

'Good sustenance in home buying', says mortgage lender in statement

Maharashtra's real estate regulator has asked 13 district collectors to ensure that compensation payments totalling Rs 730 crore awarded to home buyers, who got duped by developers, reach the affected parties. The Maharashtra Real Estate Regulatory Authority (MahaRera) has also appointed a retired additional district collector to follow-up in such cases where dues have been pending, an official statement said. The body said in the last five years, it has issued 733 warrants in which developers have been asked to pay Rs 729.68 crore in compensation payments to home buyers who approached MahaRera after developers did not keep up their promises. It has written to 13 district collectors to ensure that the duped home buyers get the compensations awarded by the regulator over the last few years, it said. The 13 districts to which the request has been made from MahaRera include Mumbai city, Mumbai suburbs, Thane, Pune, Raigad, Palghar, Aurangabad, Nagpur, Nashik, Chandrapur, Sindhudurg, .

High interest rates does not impact the demand for housing as individual home buyers are aware that it may move up and down during the tenure of their loan, said a research report by Bank of Baroda. The borrowing rates are on the rise since May this year after the Reserve Bank of India (RBI) effected first hike in the benchmark lending rate. The repo rate has increased by 140 basis points since May. The report on 'Housing loan scenario in India' said the housing segment has shown resilience post pandemic. The strong momentum in housing loans by both Public Sector Banks (PSBs) and other financial institutions also points to the same. The government and RBI measure to support this sector, along with lower prices and interest rates helped cushion the impact of the Covid-19 pandemic on this sector. With normalisation of economic activity and a pickup in growth, demand for housing is poised to grow, suggesting more demand for housing loans, said the report authored by Aditi Gupta, ...

A separate fund, namely "Sinking cum Reserve Fund", has been made where all homebuyers of Amrapali Group would deposit the amount

Rules state that if RERA does not issue possession certificate or raises concerns, the builders can start giving possession to buyers

The notified Real Estate Act curbs most malpractices that has been plaguing the sector for decades