Home loans to get cheaper
Interest rates for home loans and other consumer loans are set to drop after the Reserve Bank of India (RBI) cut key rates by 25 basis points. Announcing a cut in repo rate‚ the RBI governor said‚ “The policy rate cuts effected as part of this policy should be a definitive signal for reducing lending rates.” Analysts believe that this move will prompt banks to re-consider home loan rates and announce fresh cuts.

DLF SEZs won’t be cancelled till realtor refunds duty sops
Real estate developer DLF will not be allowed to get its four Special Economic Zones (SEZs) de-notified or cancelled till the government carries out inspection of the zones. The government needs to ensure that all duty exemptions enjoyed by the developer during implementation of the project are refunded.
Urban civic bodies under taxman’s lens
Local city development agencies‚ such as Delhi Development Authority and Noida Development Authority‚ which have been earning huge funds from their housing projects‚ have drawn the attention of taxmen. The Central Board of Direct Taxes has sounded an alert to its field forces asking them to keep a tab on tax payments by such bodies to ensure there is no evasion.

Realtors' March quarter earnings seen bruised by crisis
Real estate companies posted fall in March quarter earnings as sales slumped amidst the global credit crunch. Sales improved slightly as builders reduced prices and interest rates declined‚ opening up a window of opportunity to restructure loans.
Office rentals drop up to 37% in Jan-March
Office space across the top cities in India got even cheaper this quarter as supply outstripped demand and rentals declined. According to a new Cushman & Wakefield Office report‚ rentals in NCR saw a significant decline‚ the worst hit being Gurgaon and the central business district of CP. Certain parts of Mumbai like Lower Parel and Worli saw rentals drop by 37% and 29%‚ respectively‚ this quarter.

No takers for Govt’s highway projects
The ambitious National Highway Development Programme (NHDP) has failed to achieve the desired results. The government’s latest review of the scheme admits that out of 60 projects‚ for which RFPs (Requests For Proposal) were issued‚ 38 have not attracted even a single bidder in the last five years.

RERA and Al Fajer announce first online property transfer
The Real Estate Regulatory Agency (RERA) and Al Fajer Properties (AFP) announced the first ever transfer of property using the new online system and guidelines developed by RERA. Over the past few years RERA has been working with the Dubai Land Department and developers to bring transparency and clarity to Dubai’s real estate market.

Supertech launches residential project in Gr. Noida
Real estate group Supertech has launched a new residential project - called Nicolas CZAR Suites - at Sector Omicron 1 in Greater Noida. Supertech Nicolas CZAR Suites offers 2 bedroom apartments with excellent amenities like gym‚ jacuzzi‚ table tennis and more.
Metro to go beyond Gr. Noida
The sectors along the Noida-Greater Noida Expressway will soon be connected to Noida and Delhi by the Metro rail. Later‚ the Metro line will be extended right up to Jewar‚ with this route running all along the Taj Expressway.
Noida wants toll hike on DND to be withdrawn
The New Okhla Industrial Development Authority (Noida) has asked the the Noida Toll Bridge Company Limited (NTBCL) to withdraw its recent toll tariff hike on the Delhi-Noida-Direct (DND) flyway‚ calling it a violation of their agreement with Noida. Noida has asserted that according to the agreement it has with NTBCL‚ the company should give Noida prior information of any hike and seek the authority’s approval before implementing it.

Indiabulls Real sells Mumbai property to BCI for Rs 30 cr
Real estate firm Indiabulls Real Estate (IBREL) has sold 15‚730 sq ft of area in its upcoming commercial complex at Lower Parel in Mumbai for Rs 19‚000 per sq ft to the British Council (BCI). The property firm has also signed leasing agreements with leading corporate houses such as Reliance Capital‚ Aditya Birla Group‚ IDFC and Indusind Bank for rents ranging between Rs 175 and Rs 225 per sq ft.

New traffic regulations on Perambur High Road
Chennai’s traffic police have made a few changes in traffic arrangements on Perambur High Road because of the construction of the railway over-bridge. Vehicles from Madhavaram High Road‚ Paper Mills Road and heading to Konnur High Road (Ayanavaram) will have to go via Perambur railway station‚ Perambur High Road‚ Ganesapuram railway under bridge‚ Dr Ambedkar Salai‚ Pulianthope High Road‚ Stephenson Salai‚ Cooks Road and Otteri bridge to reach their destination.