Hello folks and welcome to our weekly news roundup section. Let’s start with some of the good news.
Residential Property launch rises by 106% sequentially in top 8 cities in 1st half of 2018, says Liases Foras
An improved homebuyers’ confidence and a marginal decrease in the unsold inventories encouraged real estate developers for the new property launches. While prices have remained stagnant during the period across the top 8 cities, sales have grown by 11% from a year ago.
DLF revises its business model, to sell apartments only after getting occupancy certificates
The new business model came into effect in order to remove any uncertainty regarding costs and delivery timelines. Clearly, learning from the mistakes of real estate giants like Jaypee and Amrapali, DLF’s new business model will encourage homebuyers’ confidence as they prefer buying ready to move in properties.
Trial run on the much-awaited Signature Bridge is expected in November 2018, says Chief Project Manager
In a mailer response to RealtyMyths, Shishir Bansal, Chief Project Manager of the Wazirabad Bridge project said that the project is now into its final phase and the trial run is expected to happen in November 2018. The revised estimate of the total cost of the project is now Rs 1518 Crore.
Haryana Government takes over 15 troubled real estate projects across the state
Encouraged by the recent takeover of Amrapali’s stalled projects by NBCC and to a much relief to the homebuyers, Haryana’s DTCP has canceled the licenses of 15 projects and has taken over to complete them. Out of all 15, 9 are in Gurgaon, 3 in Karnal, 2 in Faridabad and 1 in Hisar.
Though it’s a highly commendable job by the state authority, its stand on developing the basic infrastructure in Greater Faridabad societies is still not clear. The developers have already paid all the EDC and IDC to the authority way back in the year 2011, still, the basic facilities like sewer connection are yet to be developed.
And, India’s 10th Prime Minister Atal Bihari Vajpayee passed away on August 16th
The man who funded the Delhi Metro project and the pioneer of the modern transportation system in India, Atal Bihari Vajpayee died on Thursday at an age of 93. His ambitious projects like Gram Sadak Yojna and Golden Quadrilateral actually revolutionized the way India traveled from one city to another.