A recent observation of NCR’s residential market highlighted that the cost of one-BHKs remain costlier in the area. As per a recent report of Anarock Property Consultants, NCR has the highest unsold inventory of one-BHKs.The area has an abundant supply of one-BHKs, both in primary as well as for the secondary market.
The Real Estate Regulatory Act (RERA) 2016 is considered as one of the landmark legislations passed by the Government of India. Its objective is to encourage greater transparency, citizen centricity and accountability into the real estate sector.
The formation of Gurugram Metropolitan Development Authority (GMDA) is endorsing as a governing factor for the economic development and planning of Delhi NCR. The organisation will propagate the alliance between different governing agencies diminishing their directional disparities.
After the completion of the deadline on July 31, 2017, for RERA registration ongoing projects, several projects are yet to be registered. Haryana-based realtors are expecting an extension in the deadline for the registration of the remaining projects under H-RERA. They have come across, approaching three months of extension in the deadline to the government.
The favourable policy announced by the current government of owing affordable houses has got an upward shift over the past three years. The motto of announcing the policies such as Housing for all by 2022, Pradhan Mantri Awaas Yojna (PMAY) is to give push to affordable houses so that people can buy their dream home at affordable pricing.
The union government has proposed a public private partnership (PPP) Policy, under which affordable housing will be provided land in order to boost housing development. The Ministry of Housing and Urban Poverty Alleviation (HUPA) has formed the model of PPP policy for affordable housing to induce the developer to explore extra developable area.
This announcement is a landmark for the real estate sector, which will open new avenues for the affordable housing segment. We welcome and appreciate this decision of the government; it will help the sector get various benefits of infrastructure sector, which was a long time demand of the realty industry.