How technology disrupts real estate sector in India

News about How technology disrupts real estate sector in India and other Real Estate India News Dated 15th September 2018 7:48 PM

  1. Technology is disrupting different industries across the world, and real estate can’t be far behind. With the Internet opening up the market in unprecedented ways and taking a lot of the footwork out of finding property options, technology has led the real estate consultants to move beyond the traditional ways of prospecting. Blockchain is future of Real Estate.
  2. Rise Of Prominence Of Women In Real Estate Sector, Diversity of gender in corporate & industries at large is not just an India subject but a Global one. And when the industry is Real Estate, the matter becomes even more highlighted as it has quintessentially been a masculine environment where women have largely remained under represented.
  3. The members of the Central Advisory Council constituted by the Ministry of Housing and Urban Affairs under the Real Estate (Regulation & Development) Act, 2016 (RERA), have made a joint representation to notify the sub-committee formed earlier to persuade the West Bengal government to adopt RERA.

  4. According to CBRE South Asia’s recently released report titled – India Real Estate – Variance in Construction Costs, Mumbai remains the most expensive among the six leading cities in India, while construction costs in Chennai and Bengaluru are almost at par, as are those in Delhi and Pune, whereas Hyderabad has the least cost.

  5. It is worth mentioning that 2007 and 2008 were two of the worst market years for India. Despite the difficulties, the Reserve Bank of India (RBI) and Finance Ministry managed to steer clear of recession.

  6. The Bihar Real Estate Regulatory Authority (RERA) on Friday asked a city-based builder to refund the Rs33.01 lakh to buyer in three installments within for not completing the apartment withing the time frame promised. The builder has been asked to pay the interest at the marginal cost of lending rate (MCLR) of SBI.
  7. The implementation of the Goods and Services Tax (GST) has come as a breather for the real estate industry. Aimed at introducing country-wide uniform taxation, GST has enabled builders to source materials from only registered suppliers in a transparent manner.

    Real estate in India’s top urban centres will reach 8.2 billion sq ft by 2025 and provide employment to approximately 17 million people across the country, according to a latest report by CBRE South Asia.

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