In a strategic move aimed at stabilizing the real estate market, the Government of Haryana has announced that circle rates across the state will remain frozen for the current fiscal year. This decision comes at a time when property prices are witnessing unprecedented highs, particularly in rapidly growing regions like Gurgaon, Faridabad, and Panchkula. The freeze on circle rates — the minimum...
Listen To The Article Affordable properties are quickly losing their appeal in India. Since the pandemic, homes under Rs 50 lakh have lost ground, making up just 15% of India's total residential real estate market. According to JLL, during the last two years, the percentage of inexpensive houses has decreased from 27% in Q1, 2022 to 15% in Q1, 2024, marking the lowest market share for affordable...
The Delhi government announced a 1 percent increase in transfer duty on properties priced above Rs 25 lakh throughout the city, purchasing real estate in the National Capital would now be more expensive. The Municipal Corporation of Delhi (MCD) accepted the increase in transfer duty in May 2022, but the Delhi government didn't issue a notification regarding it until July 10, 2023. The transfer...
The Haryana Real Estate Appellate Tribunal (HREAT) has collected Rs. 39.88 crore, and the Haryana Real Estate Regulatory Authority (HRERA), Gurugram, has recovered Rs. 8.61 crore from negligent developers and reimbursed buyers over the last four years, from 2019 to May 2023. For the purpose of the recovery process, the HRERA has been pursuing the involved district collector offices. A HRERA...
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