India

A RERA escrow account is a specialized bank account mandated by the Real Estate (Regulation and Development) Act, 2016 (RERA) in India. Its primary purpose is to ensure that funds collected from homebuyers are used exclusively for the construction and development of the specific real estate project for which they were intended, thereby safeguarding the interests of buyers and promoting transparency in the...

The real estate sector in India stands as a cornerstone of the nation's economy, contributing approximately 8-9% of the GDP. It holds the distinction of being the second-largest source of employment after agriculture. Encompassing over 200 ancillary industries—including cement, steel, bricks, paints, and furnishings—the real estate industry has a vast and dynamic impact. By 2030, it is projected to...

In 2024, India's real estate sector experienced significant developments across various dimensions, including regulatory changes, market dynamics, technological advancements, and investment trends. 99Realty have covered most of these topics in our regular articles and this comprehensive article brings to you the major events in the Indian Real Estate Sector in 2024 along with our future prospective for...

Jamshedpur, a city known for its industrial significance and rapid urbanization, is now witnessing a significant shift in its real estate landscape with the emergence of ambitious projects like the Govindpur Sky Tower. Positioned as a modern, state-of-the-art residential and commercial complex, Govindpur Sky Tower is set to become a landmark in the city’s skyline. Designed with modern amenities,...

In the dynamic realm of real estate, cultivating a diverse and inclusive workplace transcends social responsibility; it is a strategic business imperative. Embracing diversity, equity, and inclusion (DEI) enables firms to tap into a broader talent pool, enhance employee engagement, and better serve diverse client bases, thereby driving innovation and profitability. The Business Case for Diversity and...

When purchasing a residential property, the Base Selling Price (BSP) is just the starting point. Developers add various other charges to cover amenities, infrastructure, and legal requirements, often increasing the total cost significantly. Here’s an overview of these additional charges: 1. Development Charges (DC) Development charges are levied to cover the cost of infrastructure and...

When purchasing property, terms like Base Selling Price (BSP), Preferential Location Charges (PLC), and Floor Rise Charges (FRC) are critical to understanding the final cost. These charges often increase the property price beyond its basic value, making it essential for buyers to understand their implications. What is BSP (Base Selling Price)? The Base Selling Price (BSP) is the foundational...

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a key regulation that mandates the inclusion of real estate agents' fees, including commissions and brokerage charges, in the model property sale agreement. This regulation results from consultations between MahaRERA and the National Association of Realtors (NAR)-India. Their partnership reflects a push for a professionalized and...

The BRRRR investment strategy (Buy, Rehab, Rent, Refinance, and Repeat) is a popular method for real estate investors to build profitable property portfolios with minimal initial capital. Here’s an in-depth look at how this strategy is being adapted and applied in today's market It involves purchasing distressed or undervalued properties, renovating them to increase value, renting them out to...

In recent years, India’s real estate market has seen a strategic shift from metro cities to Tier II and III cities. This transformation is set to gain further momentum in 2024, driven by a combination of factors that make these regions increasingly attractive to both developers and homebuyers. Here are some key aspects of this trend: Affordability Factor: Rising property prices in metropolitan areas...