{"id":61,"date":"2018-01-11T06:53:01","date_gmt":"2018-01-11T06:53:01","guid":{"rendered":"https:\/\/doontimes.in\/?p=61"},"modified":"2018-01-11T06:54:03","modified_gmt":"2018-01-11T06:54:03","slug":"homes-get-cheaper-due-note-ban-gst-rera","status":"publish","type":"post","link":"https:\/\/doontimes.in\/?p=61","title":{"rendered":"Homes get cheaper due to note ban, GST, RERA"},"content":{"rendered":"<section class=\"title_section clearfix\">\n<div class=\"leftsocial sticky\">\n<div id=\"widget-two\" data-tpwidget=\"widget-two\">\n<div class=\"tpwidget tpwidget-two\">\n<div class=\"tpwidget-float pos-rel\">\n<div class=\"tpwidget-float-content\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"toiwidgets_social\"><\/div>\n<\/div>\n<div class=\"topsocial actions\">\n<div class=\"toiwidgets_social\">\u00a0HIGHLIGHTS<\/div>\n<\/div>\n<\/section>\n<section class=\"highlight clearfix vdo\">\n<div id=\"mCSB_1\" class=\"mCustomScrollBox mCS-dark\">\n<div class=\"mCSB_container mCS_no_scrollbar\">\n<ul>\n<li>According to a report, prices fell by an average of 3% across cities, with Pune witnessing the highest decline.<\/li>\n<li>The main reason for the fall is poor demand.<\/li>\n<li>The report also pointed out that that the share of affordable homes among new launches rose from 53% in 2016 to 83% in 2017.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\" articlevideo abovearticle bigvideo \" data-position=\"abovearticle\" data-msid=\"61949960\">\n<div class=\"toppart\">\n<div class=\"preloader\" data-msid=\"\">\n<div class=\"title\"><\/div>\n<div class=\"duration\"><\/div>\n<p><img decoding=\"async\" class=\"articlevideo_pic\" title=\"Homes get cheaper due to note ban, GST, RERA\" src=\"https:\/\/timesofindia.indiatimes.com\/thumb\/msid-62451086,width-400,resizemode-4\/62451086.jpg?imglength=505692\" alt=\"Homes get cheaper due to note ban, GST, RERA\" data-imgid=\"62451000\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<div class=\"article_content clearfix\">\n<div class=\"section1\">\n<div class=\"Normal\">\n<p>NEW DELHI: Residential\u00a0<a class=\"key_underline\" href=\"http:\/\/www.magicbricks.com\/\" rel=\"nofollow noopener\" target=\"_blank\">real estate<\/a>\u00a0prices fell across the country in 2017 due to demonetisation, the\u00a0<span id=\"nic61954915\" class=\"newsincontext nic_handler\" data-id=\"nic62451000\" data-nic_msid=\"61954915\" data-nic_mstype=\"2\" data-nic_mssubtype=\"0\" data-nic_host=\"83\">implementation of the Real Estate Regulation Act+<\/span>\u00a0(RERA) and\u00a0<span id=\"nic62451642\" class=\"newsincontext nic_handler\" data-id=\"nic62451000\" data-nic_msid=\"62451642\" data-nic_mstype=\"2\" data-nic_mssubtype=\"0\" data-nic_host=\"83\">goods and services tax+<\/span>\u00a0(GST).<\/p>\n<p>According to a Knight Frank report, prices fell by an average of 3% across cities, with Pune witnessing the highest decline, 7%, followed by Mumbai at 5% in 2017. Prices in the\u00a0<a class=\"key_underline\" href=\"https:\/\/timesofindia.indiatimes.com\/topic\/NCR\" target=\"_blank\" rel=\"noopener\">NCR<\/a>, which had already fallen in the last six years, dropped another 2% on average.<\/p>\n<div data-type=\"embedgroup\">\n<div class=\"embedarticle mediatypeimg\" data-msid=\"62330623\">\n<p><img decoding=\"async\" src=\"https:\/\/timesofindia.indiatimes.com\/photo\/62330623.cms\" \/><\/p>\n<h4>20,000 projects under Rera so far<\/h4>\n<\/div>\n<\/div>\n<p>The main reason for the fall is poor demand. Sales in Bengaluru, NCR Delhi and Chennai fell sharply \u2014 26%, 6% and 20%, respectively. However, the Mumbai and Pune markets witnessed a slight upward movement. The report pointed out that as RERA had been implemented properly in Maharashtra, sales had picked up in Mumbai and Pune by 3% and 5%, respectively.<\/p>\n<p>Because of slow sales, launches witnessed an unprecedented slowdown during the year. New launches fell by 56% in NCR Delhi and by 41% in Bengaluru. This has affected the sector badly.<\/p>\n<p>NCR witnessed 6% lower sales at 37,653 units while prices fell by 2% due to a slowdown in demand and the impact of new realty law RERA and GST, said property consultant Knight Frank India.<\/p>\n<p>The report also pointed out that that the share of affordable homes among new launches rose from 53% in 2016 to 83% in 2017, indicating developers&#8217; focus on properties within the Rs 50 lakh price bracket. The main reason for the launch of affordable housing is the huge demand in the segment and the subsidies under the Prime Minister Awas Yojana.<\/p>\n<\/div>\n<div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0HIGHLIGHTS According to a report, prices fell by an average of 3% across cities, with Pune witnessing the highest decline. The main reason for the fall is poor demand. The&hellip; <\/p>\n","protected":false},"author":1,"featured_media":63,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-61","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/posts\/61","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/doontimes.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61"}],"version-history":[{"count":2,"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/posts\/61\/revisions"}],"predecessor-version":[{"id":64,"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/posts\/61\/revisions\/64"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/doontimes.in\/index.php?rest_route=\/wp\/v2\/media\/63"}],"wp:attachment":[{"href":"https:\/\/doontimes.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/doontimes.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/doontimes.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}