Monthly Archives: March 2013

Regulator for real estate likely soon

The government is looking to set up a tough regulator for the realty sector with provisions of even jail term for developers for putting out misleading advertisements about projects.Undeterred by stiff opposition from private developers and builders, the housing ministry is pushing hard to bring the real estate regulator bill, aiming to protect home buyers, in the current session of Parliament. Housing minister Ajay Maken on Sunday said the bill was expected to be brought up for consideration of the Cabinet soon before being introduced in Parliament.Will regulator be set up by 2014?However, it will...

Home loans see near-flat growth in April-January

The rush for retail credit hasn’t brought much cheer to banks in terms of home loan growth rate. Year till date (April 2012-January 2013) data from the Reserve Bank of India show growth in home loans is close to flat.During the period, home loans grew by 10.4 per cent, compared to 10.5 per cent in the similar period last year.Banks, which are expanding their home loan book, are aggressively taking over loans of other banks by offering lower interest rates and securitisation. Even for the...

Realtors skeptical over housing policy for poor

The state government's plan to create one lakh affordable houses in 10 years has made developers skeptical. The 'scheme for affordable urban housing in Odisha-2012' annunciated recently stipulates developers to reserve 15% built-up space for lower income group (LIG) and economically weaker sections (EWS) in residential projects of size exceeding 2,000 sq m. The builders opined that it was not feasible and suggested reduction in their contribution to low cost houses."Fifteen per cent built-up area is on the higher side and the government should lower it...

Bhubaneswar to switch off lights for Earth Hour on Saturday

BHUBANESWAR: The capital city will plunge into darkness for an hour on March 23 for good. Different government offices will switch off lights in the evening to observe Earth Hour-2013. Earth Hour is a worldwide event organized by the World Wide Fund for Nature (WWF) annually, encouraging households and businesses to turn off their non-essential lights for one hour to raise awareness about the need to take action on climate change.The campaign for energy saving in Bhubaneswar was taken by members of a voluntary organization...

Housing prices rise by up to 9.6% in 18 major cities, Bhubaneswar up by 2.4%

Housing prices have risen in 18 major cities, including Delhi and Mumbai, by up to 9.6 per cent during the October-December period 2012 compared with the previous quarter, according to National Housing Bank (NHB).Mumbai and Delhi witnessed the maximum increase in housing prices at 9.6 per cent each. Of the 20 cities tracked by NHB ‘RESIDEX’, prices have dropped in only two cities — Faridabad and Indore. “In the majority of cities prices are witnessing an upward trend,” NHB said in a statement. “The movement...