Gurugram: Covid restrictions derail upkeep of societies, residents go to DTCP – ET RealEstate

GURUGRAM: Unable to conduct monthly meetings due to Covid restrictions, the department of town and country planning (DTCP) is flooded with complaints from residents in several housing projects in the city, an official said. Most of the complaints are related to poor maintenance and upkeep, lack of connectivity, and inadequate power and water infrastructure. As […]

Pandemic curbs demand for commercial spaces in Indore – ET RealEstate

INDORE: A slump in sales post outbreak of Covid-19 and high rentals have led many retail stores and food joints to vacate commercial spaces to save on mounting liabilities that run in lakh per month. While many franchise owned businesses mostly into the financial sector have terminated the rental contract in between amid a decline […]

Russian landlords feel the pinch as COVID-19 hits incomes and rents – ET RealEstate

MOSCOW: Before the coronavirus pandemic hit Russia, pensioner Elena rented out her one-bedroom apartment in the Moscow suburbs to help make ends meet. The 18,000-rouble monthly rent, nearly $240 at the current exchange rate, provided her with almost as much income as her retirement benefits. But when restrictions to curb COVID-19 started taking a toll […]

India’s corporate real estate occupiers confident about COVID-19 recovery – ET RealEstate

BENGALURU: Corporate real estate (CRE) leaders in the India are optimistic about their business and recovery plans despite impact from the ongoing pandemic. At least nine in ten leaders polled by JLL believe their organizations and employees will help successfully mitigate the impact of COVID-19 on their businesses. “As the corporate sector prepares for the […]

Speed of building PMAY houses improved during pandemic: Prime Minister – ET RealEstate

Prime Minister Narendra Modi. (Reuters Photo) BHOPAL: Prime Minister Narendra Modi on Saturday said the average time of building a house under the Pradhan Mantri Awas Yojana (PMAY-Gramin) came down to 45 to 60 days during the pandemic from 125 days as migrants, who returned home during the lockdown, also contributed towards it. He said […]

Home prices in Hong Kong ease 0.5% in July – ET RealEstate

HONG KONG: Hong Kong private home prices eased 0.5% in July, the first drop since April, as one of the world’s most expensive property markets continued to be pressured by the coronavirus pandemic and political uncertainties. The drop in July compares to a revised no change in June. Supported by strong demand and low interest […]

Housing segment recovers in June: Report – ET RealEstate

BENGALURU: Housing sales and launches are seeing upward trends across top cities like Bangalore, Hyderabad and Mumbai with both demand and launches seeing higher growth. “With June being the first month of Unlock 1.0 in India, activity in the housing space marks encouraging recovery,” said a recent report by Edelweiss Research. Demand plunged 68% QoQ […]

Hong Kong eases mortgage rules for commercial property – ET RealEstate

File photo HONG KONG: Hong Kong’s banking regulator said on Wednesday it would relax commercial property mortgage rules, in a move to boost liquidity in a market that has been hit hard by U.S.-China trade tensions, violent street protests last year and the coronavirus crisis. The change lifts the cap on the loan-to-value ratio for […]

Chennai: With tenants hard to come by, most posh villas along ECR empty – ET RealEstate

CHENNAI: Poor demand from expats and the general drop in real estate demand triggered by the Covid-19 outbreak has hit the market for posh villas in the city, particularly those along the East Coast Road (ECR). People had invested in villas primarily to cater to expats working in multinational companies in and around Chennai. As […]

No fine on late EMIs from March-August for Uttar Pradesh government houses – ET RealEstate

LUCKNOW: In a relief to home buyers hit by the coronavirus pandemic, the state government has decided not to impose any penalty on delayed payment of instalments for the period between March 1 and August 31. Besides, the government has also advised the development authorities and the housing board to charge simple interest for this […]