India Real Estate Latest Trends | Overview | Growth | Investments

June 18, 2021
Lucknow Development Authority Reduce Interest Rate on Properties

Are you interested in buying a home or a commercial space in Lucknow? If yes, then this is probably a suitable time to make the investment, as the interest rate on the commercial and residential properties in Lucknow has been reduced by 2%. As per a report, the Lucknow Development Authority (LDA) has taken this decision to lessen the interest rate on the properties that are available for sale in Lucknow.

The official of LDA informed that this 2% concession will be laid on flats, housing units and commercial spaces. Previously the levied interest on the principal amount of the property was 11% which now has been decreased to 9%. The final words on the interest rate reduction were circulated after the LDA board meeting chaired by Mr Ranjan Kumar, Divisional Commissioner and Mr Abhishek Prakash, Vice-chairperson, LDA.

Commercial spaces and flats in Lucknow that are sale ready, are grabbing more interest of the buyers and investors of the city. This will to a great extent boost the revenue of the Lucknow Authority that was adversely affected by the global pandemic. The number of vacant flats is expected to be filled quickly with the advent of this reform in the Lucknow real estate sector.

For investors or buyers who are planning to buy three or more residential or commercial spaces in the city can now be happy, as the authority is also planning to introduce a proposal of some discounts to such bulk buyers. However, this decision is yet to come on paper, as it requires more discussion and planning.

Interest for Housing Real Estate in Bangalore Increases Significantly

As per a recent research, the second wave of the COVID-19 epidemic, as well as the subsequent shutdown, reduced demand for property in Bengaluru by upwards of 25% in the April to June quarter (Q2). Despite the fact that interest has fallen, prices were static. According to the study, prices were stable and increased only by 1% between April and June of this year. Generally, demand for two and three bedroom houses was high, accounting for 88% of all inquiries in the city. The three-bedroom lay

NOIDA Development Authority offers 50 Commercial Plots Across the City

In a bid to boost the NOIDA realty sector and enthral the Realty investors to invest in this region the NOIDA Authority has recently launched its commercial Realty developer plot scheme. The scheme has various salient features, and as per it, a total of 50 plots of commercial nature with sizes ranging from 480 sqm to 10,000 sqm is released for acquiring purposes. The plots released will be allocated to the commercial developers for the creation of commercial infra namely, shops, offices, hotels,

Development Body GNIDA Surfaces 75 Acres Landmass for Industrial Plot Scheme

In a bid to boost the Realty sector in the Greater Noida district of Uttar Pradesh, the Greater Noida Industrial Development Authority (GNIDA) has launched a second industrial plot scheme in Ecotech-10. Under the scheme, concerning 75.00 acres of land is to be assigned through six plots. This land assignment is expected to draw huge chunks of investment by various Realtors, to be specific, as mentioned under the scheme, it will be implemented by initiating both fast track and direct allotment pl