City Lights: Land Acquisition Bill could raise housing price: CREDAI

Land Acquisition Bill could raise housing price: CREDAI

Land prices will escalate leading to rise in housing price if the Land Acquisition Bill is passed by Parliament, real estate developers and property consultants have said. "It is not a good development for the industry. This will definitely increase land cost and housing prices," Confederation of Real Estate Developers' Associations of India (CREDAI) National President Lalit Kumar Jain said when asked about his comments on Cabinet's nod to the bill. If the Bill gets Parliament's nod, developers will also hesitate to go for big projects, he added. Expressing similar sentiments, National Real Estate Development Council (NAREDCO) President Navin M Raheja said the Bill is not industry-friendly.

Bangalore, Mumbai, Delhi realty rankings nosedive

Uncertainties prevailing in the real estate market since the past few years have resulted in the country no longer being an attractive investment destination for international investors, says a recent survey. Bangalore, Mumbai and Delhi, which are the top three realty markets in the country, have sharply slipped to 19th, 20th and 21st positions respectively in the list of 22 investment destinations in the Asia Pacific region, the survey 'Emerging trends in real estate 2013' by the Urban Land Institute and PricewaterhouseCoopers (PwC) said. In 2012, these three cities were placed at the 10th, 15th and 12th position respectively in this study.

Indian Property Show in Dubai aimed at attracting NRIs

Indian Property show, a three-day real estate exhibition aimed at attracting NRIs. The event started on Thursday, which showcases over 1,000 upcoming properties in India worth $8.1 billion. Around 90 developers would showcase over 300 projects and 1,000 plus properties from across India, along with battery of real estate agents, financers, legal experts and vaastu consultants.

Puravankara to develop Bangalore, Chennai projects

Bangalore-based realty firm Puravankara Projects has said it is looking at expanding its footprints in the housing segment with special focus on western and northern regions of the country. The company launched its premium affordable residential township in Bangalore. The real estate company has set up a separate entity, Provident Housing, and is developing 12 million sq ft of projects in Chennai and Bangalore.

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