CREDAI Tamil Nadu welcomes Coimbatore Master Plan
W.S. Habib, the head of CREDAI Tamil Nadu, said the plan will ensure sustainable urban development of Coimbatore and will play a 'pivotal role' in shaping Coimbatore's future. He also welcomed the deemed approval system and single window approval for constructions up to 25,000 sq.ft. These are game changers for the construction and property sectors in the State, he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
9 hours ago
- Hindustan Times
Greater Noida to issue partial occupancy certificates to buildings with 25% cleared dues
The Greater Noida authority will issue partial occupancy certificates (OCs) to housing projects that have cleared 25% of their recalculated land cost dues under the Uttar Pradesh government's December 21, 2023 policy for legacy stalled projects, officials said on Tuesday. Under the new arrangement, completion certificates will be issued proportionate to the percentage of payments made beyond the initial 25% of dues. (Sunil Ghosh/HT Archives) The move is expected to benefit thousands of homebuyers in long-delayed projects, allowing them to take possession and execute the registry of their flats while the remaining 75% dues are paid over the next three years, officials said. Authority officials said the decision will initially cover at least 37 apartment societies whose developers have already deposited one-fourth of their net dues and obtained a no-dues certificate (NDC). 'We will issue partial occupancy certificates to at least 37 apartment societies so that the homebuyers' grievances can be addressed. The decision is taken after the developers demanded partial OCs in projects where they have already paid part payments,' said Saumya Srivastava, additional chief executive officer of the Greater Noida authority. To be sure, an OC is issued by a local authority certifying that a building complies with approved plans, building codes, and safety norms, making it legally fit for occupation. In Uttar Pradesh, OCs are granted after verifying construction quality, safety measures, and clearance of dues, enabling legal possession, utility connections, and property registration. Recently, UP RERA mandated that possession letters can only be issued after obtaining an OC, aiming to curb unsafe, illegal occupancy. The move sparked controversy, as many delayed projects in Noida and Greater Noida lack OCs due to pending dues or incomplete clearances, leaving homebuyers, often paying both rent and EMIs, unable to move in or register homes. Critics say the rule unfairly penalises buyers in legacy stalled projects. Under the new arrangement, completion certificates will be issued proportionate to the percentage of payments made beyond the initial 25% of dues. This will enable possession and registration of completed units while developers continue paying instalments. The authority said the plan was approved by its board last month after representation from the Confederation of Real Estate Developers' Associations of India, Western UP chapter (CREDAI-WUP). 'We asked the authority that the partial OC issuance would enable developers to hand over homes, execute tripartite sub-lease deeds, and use the funds collected from buyers to clear pending dues, a step it said would benefit the authority, developers, and buyers alike,' said Dinesh Gupta, president of CREDAI-WUP. Officials explained that delays in securing mandatory clearances from six to seven departments, a process that can take over six months, had led some developers to miss deadlines for second or third instalments, prompting the planning department to withhold fresh NDCs and block OC issuance. As a result, thousands of buyers have been unable to move into ready or nearly completed flats. According to the authority, Greater Noida has 98 defaulter projects under the state's stalled projects policy. After recalculation, which factored in a two-year zero period for the Covid-19 pandemic, dues for 13 projects became zero, while 37 projects have cleared all dues. Twenty-seven projects have paid 25% of recalculated dues and will now be eligible for partial OCs. The remaining 21 projects have not opted for the policy, with most cases pending in court.
Time of India
3 days ago
- Time of India
Hasiru Hubballi-Dharwad launched
Hubballi: The Confederation of Real Estate Developers' Associations of India (CREDAI) launched 'Hasiru Hubballi-Dharwad' in collaboration with Hubballi-Dharwad Urban Development Authority (Huda) by planting saplings at Sangolli Rayanna Nagar Public Park on Saturday. This initiative aims to create green spaces across twin cities. Huda chairman Shakir Sanadi inaugurated the event. Huda commissioner Santosh Biradar, CREDAI president Gururaj Annigeri, office bearers Ismail Sanushi, Amrut Mehrwade, Shivanna Patil, Arbaaz Saunshi, Shripad Shejwadkar, Akash Habib, Suresh Shejwadkar, R. Shivanna, HDMC DDTP Pragna Prakash, journalist Mallikarjun Siddannavar, and others were present on the occasion. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
4 days ago
- Time of India
Luxe flats priced Rs 3 cr+ top sales chart in Hyd
Hyderabad: Hyderabad's housing market has stormed into uncharted territory, with luxury flats now dominating the skyline and the sales charts as well. Properties priced above ₹3 crore account for more than a third of all sales by value in the first half of 2025, making home ownership for the average buyer further out of reach. Latest figures from CREDAI and CRE Matrix reveal that between Jan and June, 30,553 properties worth a staggering Rs 56,345 crore were snapped up in the city. Of this, Rs 3 crore-plus homes grabbed 35% of the sales value, while flats in the Rs 1.5 crore – Rs 3 crore range took another 34%. Affordable housing, meanwhile, has almost vanished — flats priced under Rs 70 lakh accounted for a paltry 3% of the sales value, mostly in far-flung areas such as Isnapur, Adibatla, Kismatpur, Shankarpally, and Ghatkesar. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad The city's average ticket size tells its own story. It jumped by Rs 20 lakh in a year — from ₹1.62 crore in early 2024 to ₹1.84 crore now — making Hyderabad the second most expensive housing market in the country after National Capital Region (NCR). Industry veterans say a mix of rising land prices, soaring construction costs, and post-pandemic market dynamics have fuelled the surge in property prices. "Forget about prime locations, even in Bahadurpally and Dhoolapally in north Hyderabad, land costs are Rs 1 lakh per square yard," said C Prabhakar Rao, president, Telangana Builders Federation. "Once you add construction costs and fees, the price of a flat easily crosses Rs 1 crore," he explained. Builders point to a 60% spike in material prices — from cement to steel — over the past few years. In parallel, govt land auctions have pushed plot values higher, squeezing affordability even further. While CREDAI acknowledges the strong demand for high-end homes, it warns that over-reliance on this segment could shrink the market base. "Affordable houses in Hyderabad are scarce, with most buyers shifting towards luxury segments near offices, schools, and amenities," said N Jaideep Reddy, president, CREDAI, Hyderabad. "In West Hyderabad, you need to pay at least Rs 10,000 per square ft to own a flat; elsewhere, it's around Rs 8,000 per square ft," he elaborated. For now, Hyderabad's real estate is thriving in the luxury lane — but with affordability pushed to the city's outer edges, the middle class dream home is fast becoming a distant mirage, warn experts in the real estate sector. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Raksha Bandhan wishes , messages and quotes !
