Tag: real estate project delays

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RERA Chairman Calls for Faster Coordination in Real Estate Approvals

Rakesh Singh (IAS), Chairman, Karnataka RERA. Rakesh Singh (IAS), Chairman of Karnataka RERA, emphasized the need for enhanced institutional coordination and a more consistent approval framework in Karnataka’s real estate sector to mitigate project execution delays. He acknowledged that while RERA has contributed to increased discipline and transparency, discrepancies among government bodies, regulators, and promoters still hinder the progress from project initiation to completion. Singh spoke at the RealtyDailyNews Realty & Beyond Summit in Bengaluru, where he joined policymakers, developers, and other real estate professionals in discussions on Bengaluru’s urban and housing development potential. Singh highlighted the persistent trust issues…

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Home Prices and Construction Costs May Rise if West Asia Conflict Persists

NEW DELHI: The ongoing West Asian conflict is starting to affect Indian real estate, as industry bodies CREDAI and NAREDCO report rising construction costs due to shortages in some building materials. They expressed concerns over potential delays in project completions caused by these constraints. According to CREDAI National President Shekhar Patel and NAREDCO President Parveen Jain, if the conflict continues, the input costs could rise, inevitably pushing up housing prices as well. “The Indian real estate sector remains relatively stable despite geopolitical tensions, as most raw materials are sourced domestically,” said Patel. However, he noted some temporary supply chain disruptions…