Real estate companies expect a surge in sales this Diwali, as developers and experts note a 15-20 percent rise in property inquiries and transactions during the ongoing festive season.

Experts said attractive interest rates on home loans and the cultural inclination to make significant investments such as buying real estate during Diwali are adding to the sales glitter.

Deputy Chief Minister Mallu Bhatti Vikramarka has announced that the government will construct residential towers for Musi oustees in the same area with all facilities and integrated schools for their children.

Addressing a property show organised by the National Real Estate Development Council (NAREDCO) at Hitex on Saturday, he reiterated that Chief Minister A Revanth Reddy and the state government were committed to providing a dignified life to the Musi dwellers.

As old buildings and many eligible in the MMR await redevelopment, there is a need to create enough housing stock for which redevelopment is a better compliant by exploring possibilities of public-private partnerships, stated Dr Bhushan Gagrani, Commissioner, Brihanmumbai Municipal Corporation. He was speaking at a panel discussion — ‘Society Redevelopment under Various Sections’, organised by NAREDCO Maharashtra at Mumbai.

In a recent report by PropTiger.com, a subsidiary of REA India, the average property prices in most cities that were analysed, experienced double-digit growth in the third quarter of calendar year 2024 compared to the same period last year.

Property prices in India’s eight prime residential markets firmed up further in the past one year amid a spike in the cost of construction, data available with online property brokerage firm PropTiger.com stated.

The Air Quality Index (AQI) remained in the 'poor' category in the national capital on October 20 just a few days before Diwali. Restrictions under the first stage of the Graded Response Action Plan (GRAP) have been in force in the national capital since the last five days.

Real estate developers said that they are taking measures to curb the menace, adding that the fraternity is with the government in fighting pollution. They also flagged concerns over delay in completing projects.

The National Real Estate Development Council (NAREDCO), Telangana, has announced the 14th edition of the ‘NAREDCO Telangana Property Show,’ set to take place from October 25 to 27 at the Hitex Exhibition Centre in Hyderabad. The event will feature a wide range of property offerings, including residential, office commercial, and retail commercial spaces, aimed at catering to diverse customer needs. The exhibition will be conducted from 10 a.m. to 8 p.m. on all three days with free entry.

Climate change is compelling the construction industry to fast adopt sustainable materials and eco-friendly specialty concrete is emerging as a key driver in the sector, said industry executives.

The luxury residential sector in India has expanded significantly in recent years. Coupled with high economic growth, a key factor behind this is the increase in the number of HNIs and UHNIs, which has led to a high demand for luxury housing. At the same time, investors are also exhibiting a substantial interest in luxury real estate and prioritising capital appreciation, indicating a shift in ferencesbuyers’ preferences. 

The National Real Estate Development Council (NAREDCO), the apex real estate body working under the aegis of the Ministry of Housing & Urban Affairs, Government of India, recently signed a Memorandum of Understanding (MoU) with the Fire and Security Association of India (FSAI) at Le Meridian, New Delhi, to collaborate on improving fire safety, life safety, and security standards in India's real estate sector.

Waterproofing is required when it starts falling on the roof and not when it starts leaking, therefore it’s a preventive action that will save the building not a reactive action,” said Samir Surlaker, Director, Assess Build Chem Private Limited. He was speaking at the first-ever National Waterproofers Conference & Exhibition 2024, organised by the Waterproofers Association of India (WAI) and Gurgaon, Haryana.