The office market in Delhi NCR witnessed a net absorption increase of 5 percent in Q1 2021 quarter-on-quarter (Q-o-Q), with 1.07 million sq. ft, according to JLL Office Market Update – Q1 2021. Noida contributed 55 percent of the net absorption, backed by strong pre-commitment in the new completions followed […]
West Bengal Housing Industry Regulation Act 2017 Is Unconstitutional, In Conflict With Central RERA: Supreme Court
The Supreme Court on May 4 struck down the West Bengal Housing Industry Regulation Act, 2017 (WBHIRA) as ‘unconstitutional’, saying it is in conflict with the Real Estate (Regulation and Development) Act, 2016 (RERA), a Central legislation already in place. The apex court said that the state of West Bengal […]
Second Wave Puts A Lid On Home Sales, Project Launches
The recovery in home sales and project launches has sharply slowed down due to the second covid wave, as homebuyers stayed away from site visits and postponed transaction closures. In states such as Maharashtra, which has India’s most valuable property market, the Mumbai Metropolitan Region (MMR), the withdrawal of the […]
New Commercial Leasing Activity May Be Hit By The Second Wave Of COVID-19 Pandemic
Google may have globally saved a billion dollars by exiting office spaces and cutting down travel of employees with the focus being on work-from-home, but it also plans to return to office later this year. A report by Bloomberg, quoted its Chief Financial Officer Ruth Porat as saying that the company is […]