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Goa Developers Hold Back New Projects amid Market Uncertainty

Developers in Goa are delaying new residential projects, particularly in Panaji, despite having land banks and continued demand for housing. Slower sales, rising unsold inventory, higher construction costs and uncertainty over project approvals have encouraged builders to adopt a wait-and-watch approach. The cautious stance marks a change from the strong growth recorded in Goa’s real estate sector after the Covid-19 pandemic. Industry representatives said construction expenses had increased significantly, while property prices had not risen at the same pace. This has made homes less affordab..

Maharashtra Sets Two-Year Deadline for Housing Society Redevelopment

The Maharashtra government has introduced a time-bound framework for the redevelopment of cooperative housing societies, requiring developers to complete projects within two years of the first foundation or plinth certificate. The requirement forms part of revised guidelines issued under Section 79A of the Maharashtra Cooperative Societies Act. The completion period can be extended to a maximum of three years in exceptional circumstances. The three-year period is not the standard timeline, and development agreements must include the applicable conditions governing the redevelopment project. Du..

Centre Likely to Revise Affordable Housing Policy in Six Months

The Centre is preparing a revised affordable housing policy that could be unveiled within six months, according to the Confederation of Real Estate Developers’ Associations of India (CREDAI). The proposed framework is expected to reconsider how affordable homes are defined and classified across metropolitan and non-metropolitan markets. CREDAI has recommended removing the existing Rs. 4.5 mn price ceiling and replacing it with an area-based criterion. Under the industry body’s proposal, homes measuring up to 60 sq m in metropolitan cities and up to 90 sq m in non-metropolitan cities would ..