The GCC effect extends beyond offices, generating demand for housing, hotels, retail, transport and social infrastructure. Parveen Jain, president, NAREDCO, believes that GCC expansion can drive long-term commercial demand and urban growth, while helping emerging cities build stronger business ecosystems.
CHENNAI: The construction cost in the real estate sector has inflated by 25% since the West Asia war began in February, said NAREDCO president Parveen Jain.
Speaking with TNIE, Jain said, “The input cost of construction has been up by 25% as all raw material prices have increased in the last six months. Copper has seen a price increase of 60% in the past six months. Even if the US-Iran war stops, it will still take another three months for supplies to normalise.”
India’s student housing is grappling to keep up with demand, even as organised private developers stay away from the segment citing weak project economics, high land cost and regulatory uncertainty.
Industry estimates show that only 7.5 million on-campus beds were available in the country against over 43.3 million students enrolled in higher education during 2021-22. This highlights a significant accommodation gap.
Subsidies Face Affordability Limits
Niti Aayog says 85 per cent of households in metropolitan areas cannot afford a 30 sq m home even after subsidy, highlighting the gap between household purchasing capacity and formal housing prices. The report also notes that a large proportion of EWS and LIG households lack stable incomes or formal credit histories, making access to housing finance difficult.
Minister of Housing & Urban Affairs has approved the Delhi Master Plan 2047 paving way for the planned real estate development in the capital.
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The Delhi Master Plan 2047 envisages development of around 40 lakh new affordable housing units, redevelopment of existing residential areas and planned urban expansion through land pooling. The plan also proposes transit-oriented development, higher FAR incentives, regularisation of unauthorised colonies and conservation of heritage assets.
The allotment of 1 crore homes to women under the Pradhan Mantri Awas Yojana – Urban (PMAY-U) represents a significant development in inclusive housing and economic participation, according to NAREDCO Mahi, the women’s wing of the National Real Estate Development Council. The organization noted that female participation in the sector has expanded beyond property ownership into professional, entrepreneurial, and leadership roles.
The Ministry of Housing and Urban Affairs (MoHUA) has advised all State Real Estate Regulatory Authorities (RERAs) to grant a four-month extension in the registration and corresponding completion timelines of eligible real estate projects affected by disruptions arising from the ongoing situation in West Asia.
Housing and urban affairs ministry on Friday issued an advisory asking all state Real Estate Regulatory Authorities (RERAs) to grant a four-month extension in registration and completion timelines of eligible real estate projects delayed due to the "prevailing West Asia situation". The move, however, could end up benefiting defaulting builders while adversely affecting homebuyers.
The Ministry of Housing and Urban Affairs (MoHUA) has advised all State Real Estate Regulatory Authorities (RERAs) to grant a four-month extension in the registration and corresponding completion timelines of eligible real estate projects affected by disruptions arising from the ongoing situation in West Asia.
