Weekly News: Strict laws in real estate may remove subvention scheme
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1. Model tenancy law if implemented by all states may propel builders to construct homes for renting, says NAREDCO (National Real Estate Development Council).
2. India’s office market touches 22 mn sqft in H1 2019. The REIT by the Embassy-Blackstone Group Company clearly suggests that the commercial real estate in the country has matured and evolved in the past decade.
3. Homebuyers seek legal help to get their unconstructed flats completed. Nearly 1 lakh buyers are affected by the delay made by the prominent builders like Amrapali, JayPee and Unitech in Delhi.
4. Good news for first-time home buyers, Government plans to construct 1.4 lakh more houses under PMAY-urban housing scheme.
5. With stringent laws and removal of schemes like subvention, buying a flat is becoming more difficult for Indians.
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