Housing

Stress fund SWAMIH to help complete 80,000 homes in next 3 yrs: SBICAP

The government-backed stress fund for realty sector 'SWAMIH' has helped in completion of 20,577 homes so far and another 80,000 units will be delivered in the next three years. SBICAP Ventures is managing the SWAMIH (Special Window for Affordable and Mid-Income Housing), which was set up in 2019 by the government to complete stalled projects. The total size of the SWAMIH Invest Fund-I is Rs 15,530 crore, out of which Rs 10,000 crore has been infused by the Centre. Addressing realtors' body NAREDCO's conference on real estate, Irfan A Kazi, chief investment officer of SWAMIH Investment Fund, SBICAP Ventures Ltd, on Friday said about Rs 10,000 crore has been sanctioned so far and Rs 5,000 crore is still left. He highlighted that the SWAMIH fund has helped in completion of 20,577 housing units across 26 projects. The total funding in these projects were to the tune of Rs 2,200 crore. Kazi said the target is to complete about 80,000 homes over the next three years. He highlighted that

Housing, auto drive personal loan growth in January, says RBI data

Growth in personal loans accelerated to 20.4 per cent annually in January 2023 largely driven by housing' and vehicle loans', according to data released by the Reserve Bank on Tuesday. The growth in the personal loans segment was 12.8 per cent in January 2022. The data on sectoral development of bank credit in January 2023 showed that the personal loan outstanding on January 27, 2023, was Rs 39.59 lakh crore as against 32.87 lakh crore in a year ago. Data further revealed that housing loan outstanding was Rs 18.88 lakh crore in January this year as against Rs 16.36 lakh crore a year ago. The loan outstanding in the vehicle segment was nearly Rs 5 lakh crore in January 2023 against Rs 3.95 lakh crore in January 2022. On a year-on-year (y-o-y) basis, non-food bank credit registered a growth of 16.7 per cent in January 2023 as compared with 8.3 per cent a year ago. Credit growth to agriculture and allied activities improved to 14.4 per cent (y-o-y) in January 2023 from 10.4 per cent

Union Budget 2023: Allocations for women's issues higher than last year

Housing and rural employment schemes are also part of gender budget, which was first introduced in 2005-06

Budget pushes for developing transport, urban infrastructure, housing

Railways ministry gets highest-ever capital expenditure allocation, of Rs 2.4 trillion in FY24

Over 95,000 beneficiaries reject house sites provided by Andhra govt

More than 95,000 women beneficiaries, who were given house sites in Andhra Pradesh two years ago, are now refusing to build houses under a government scheme for a variety of reasons. In fact, they have been asking the state government to provide them sites at alternative locations as the layouts now proposed are either far away from human habitations or close to burial grounds. This has pushed the government into a quandary as it will be required to spend close to Rs 800 crore to find alternative sites. "If we are to fulfil the demand, we will have to acquire more than 2,000 acres of land from private owners for these people. Previously, what we gave away was government land," a top official of the Housing Department said. The department officials informed Chief Minister Y S Jagan Mohan Reddy recently that there were 95,106 "tough cases" where the beneficiaries were refusing to take the house site (1.5 cents each) and also build a house. Officials pointed out that in at least 30 p

UrbanUp: Committed to developing affordable housing for the underprivileged

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Top Headlines: Air India on metro-to-metro routes; RBI rate hike & more

A Business Standard poll shows that the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC) is likely to announce a 35-basis point (bp) hike in the repo rate on December 7

NRIs from UK, US investing in large housing units in India: Realtors

NRIs based in the US, the UK and Singapore are investing in larger housing units in their hometowns, having learned from the painful experience of living in space-tight units during the lockdown in India, and as the Work from Home (WFH) mode has become a requirement, according to experts. The real estate experts, who took part in a Singapore property show held from November 19 to 20, also said that the Non Resident Indians are also settling down with extended families, another lesson from the pandemic that living together with family members is much helpful in facing another COVID-19 wave type development in the future. There has been a paradigm shift in the residential market in terms of living and lifestyle, said Isha Kotwal, head of international sales at Total Environment, Bangalore, who presented a sustainable residential development concept at the show. Chetan Sharma, senior general manager for sales and market at Emami Realty Ltd, a pan-India property firm of Emami Group, sai

Housing, connected infra necessary for planned development of cities: UP CM

Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday reviewed the state's new township policy and said housing and connected infrastructure is necessary for planned and sustainable development of cities. In the last five-and-a-half years, planned urbanisation has increased at a rapid pace in the state and this should be further encouraged keeping in view the future needs, an official release quoting the chief minister said. To make the availability of land easy to investors, it is necessary to simplify the process of land mobilisation. The process of land use change too should be simplified, he said and called for a single-window system for various approvals and clearances. It is the endeavour of the state government to ensure that every family gets accommodation, he said. Adityanath asked the officials to ensure that the interests of farmers, landowners, and customers be guarded. While approving a project, the time limit for its completion should also be fixed, he said. The ch

Ultra-rich Indians seek residency in Portugal for better healthcare

Apart from investing in housing, Indians are also applying for 'jumbo life and term' insurance covers worth $20 million

Housing sales witness 41% rise YoY in July-September: Anarock report

MMR and Hyderabad witnessed the highest new launches in Q3 2022, with approx. 36,000 units and 15,530 units, respectively

China ramps up housing support; analysts say not enough for market

The new policy will apply to cities where newly constructed housing prices declined during the June-through-August period both compared with the previous three months and with the same period of 2021

Average housing prices rise 5% in April-June across 8 cities: Report

Revival in housing demand and rise in construction cost have led to a 5% average annual increase in residential property prices across 8 major cities during April-June quarter, according to a report

Kolte-Patil buys land in Pune; eyes Rs 1,400 cr sales from housing project

Realty firm Kolte-Patil Developers Ltd has acquired 25 acres of land in Pune to develop a housing project with an estimated sales revenue of Rs 1,400 crore

RBI lists rules for provisioning by NBFCs on advances to hsg, realty, SME

Rules apply to 'upper layer' of finance firms specifically identified by the central bank for enhanced regulatory requirements.

Home truths about urban housing scheme: 60% completion in 11 of 35 states

It would take the government another five years to construct all houses sanctioned under Pradhan Mantri Awas Yojana (urban).

Amid rise in demand, housing prices may surge 8% this fiscal: Report

Furthermore, the surge in the housing sales in India has not been accompanied by a sharp rise in prices so far, it added

Buying a second home? Keep in mind climate and connectivity

Select a popular location for capital appreciation, keeping in mind climate and connectivity

Tata Housing plans Rs 1,200 crore investment for premium housing

Tata group's real estate arm Tata Housing plans to invest around Rs 1,200 crore over the next two years to acquire land outright and through joint ventures across major cities to develop group housing projects as well as for plotted development, which has gained traction amid the COVID pandemic. In an interview with PTI, Tata Realty and Infrastructure CEO & MD Sanjay Dutt noted that the demand for plots has increased significantly during the pandemic and highlighted that the company has sold all 157 plots in Bengaluru for Rs 130 crore. Tata Housing Development Company Ltd and Tata Realty and Infrastructure Ltd are 100 per cent subsidiaries of Tata Sons. Tata Housing has recently launched a project 'Swaram' at Devanahalli in Bengaluru, Dutt said, adding that the plots were sold out within 36 hours of its launch. "We sold all 157 plots for Rs 130 crore," he said. The project is a part of Tata Housing's 140 acre township 'Carnatica' developed by One Bangalore Luxury Projects LLP, a ..

Housing sales rise 7% in Jan-Mar across 8 cities; new supply up 50%: Report

Housing sales increased by 7 per cent year-on-year to 70,623 units during January-March across eight major cities on better demand driven by very low-interest rates on home loans