Big real estate companies in Lucknow say that the Real Estate Regulation and Development Bill will possibly weed out non-serious developers who simply wants to make easy money. More than 70 per cent projects in the city, big as well as small, have some lacuna or the other in terms of obtaining neces..
The Union Finance Ministry has said that the Reserve Bank should allow real estate companies and broking firms to set up banks as adequate safeguards will be there to prevent exposure of promoters to related entities.
According to data from brokerage firms show that real estate companies, battling low volumes and poor cash flows, should see improvement in the December quarter, due to launches and festive sales. The low base of the corresponding quarter of the previous financial year is also expected to help.