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<ul><li>Real Estate Regulatory Authority or RERA was put in place by the government to bring accountability and transparency to the sector.</li><li>The number of projects registered under RERA went up by 109% in the last three years, says Anarock.</li><li>Authorities have disposed of one lakh cases filed under the various state iterations of RERA, as on 8 October 2022.</li><li></li></ul>Six years after the Indian government passed the RERA Act, it has made remarkable progress in addressing consumer complaints in real estate, as per Anarock. In the last three years of the pandemic, the number of projects registered under RERA went up by 109% to 94,513 projects, a report by the real estate services firm, says. Real Estate Regulatory Authority or RERA was put in place by the government to bring accountability and transparency to the sector, and help reduce project delays and property fraud. “At the end of the day, RERA still lacks sufficient execution powers – a fact which the Supreme Court has also expressed apprehensions over. Meanwhile, the pandemic did not break the pace of project and real estate agent registrations over the last three years,” says Anuj Puri, chairman of Anarock Group. Jharkhand highest growth in <keyword id="4940848" type="General" weightage="20" keywordseo="rera-registrations" source="Orion">RERA registrations</keyword> The states with maximum project registrations are Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu. Together, these states account for a significant 83% share of RERA-registered projects. Maharashtra tops the list with around 38,229 project registrations, the Anarock report says. Two North states also differ in terms of growth in RERA registrations. While Jharkhand saw a spectacular three-year growth of 855%, UP growth is the lowest at 22%. Tamil Nadu recorded a 828% jump in the period, coming next only to Jharkhand. Meanwhile, registration of real estate agents under RERA has risen by 95% in the last three years. Here too, Maharashtra too retains its numero uno position. 1 lakh disputes resolved As per data from the Ministry of Housing and Urban Affairs, the authorities have disposed of one lakh cases filed under the various state iterations of RERA, as on 8 October 2022. Of these, approximately 72% cases or 72,979 complaints – were resolved in the last three years. While <keyword id="4468946" type="General" weightage="20" keywordseo="maharera" source="Orion">MahaRERA</keyword> has been a torchbearer in terms of dispute resolutions, UP RERA saw as many as 40,559 cases disposed of so far - against a mere 11,596 cases in October 2019. Haryana comes a distant second, but MahaRERA too disposed of 12,507 cases – that’s much less than UP. Puri says that RERA has been visibly fulfilling one of its key functions – resolving homebuyer grievances. “As per official data from MoHUA, RERA authorities have addressed more than a lakh consumer complaints. While this is impressive, it is also true that there remains a big question mark with regards to 100% resolution,” Puri said.

The state which resolved the most home buyer complaints is the most sluggish when it comes to RERA registrations

The Real Estate (Regulation and Development) Act aka <keyword id="114913" type="COMPANY" weightage="100" keywordseo="RERA">RERA</keyword> would be implemented from today onwards, providing relief to home buyers. However, several states have missed their October deadline and have not yet notified their final RERA rules. These states include Assam, Tripura, Karnataka, Tamil Nadu, Punjab, Himachal Pradesh, Mizoram, Jharkhand, Telangana, West Bengal and Chhattisgarh, even though they have readied their draft rules. All states were given six months of time after the act was notified on May 1. Also read: <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate+India&amp;sortorder=effectivedate">All government departments directed to spot vacant lands for more affordable housing projects</a> "New era begins as #RERA comes into force. Clock begins to tick for registration of projects by <a href="http://www.businessinsider.in/thelife/real-estate/This-is-the-amount-your-builder-is-entitled-to-pay-you-over-delayed-possession/articleshow/55176819.cms">developers</a>. #RERA promotes accountability, transparency &amp; efficiency in the sector. <a href="http://www.businessinsider.in/thelife/real-estate/6-wayshome-buyers-will-be-Kings-after-Real-Estate-Bill/articleshow/51346166.cms">Buyer set to be King</a>. Promoter benefits from king's confidence," <keyword id="74369" type="PERSON" weightage="100" keywordseo="Venkaiah-Naidu">Venkaiah Naidu</keyword>, Union Minister of Urban Development, Housing And Urban Poverty Alleviation, said in a tweet. States of Maharashtra, Uttar Pradesh, Madhya Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Bihar, Chandigarh and Orissa have finalised their rules. Also read: <a href="http://www.businessinsider.in/under-construction-flat-tax-relief/articleshow/52673323.cms">Your under-construction flat could finally provide you some relief</a> Even though several states have not finalised their rules, homebuyers are happy that the central government is implementing RERA nonetheless. "We thank the central government for ensuring that RERA comes in full force from May 1, 2017. It will bring in drastic changes for the better in real estate industry by eradicating malpractices and bringing complete transparency. However, the dark patch in the whole process is in the way the states are diluting their Real Estate Rules in favour of developers by going overboard to please their developer friends. This has the potential to render RERA completely redundant if corrective steps are not taken forthwith," Abhay Upadhyay, National Convenor of Fight For RERA, a pan-India homebuyers' group, told <a href="http://economictimes.indiatimes.com/wealth/real-estate/if-housing-board-has-its-way-stamp-duty-registration-fees-on-house-may-fall-to-5-6/articleshow/58451019.cms">ET</a>. Also read: <a href="http://www.businessinsider.in/Is-Indian-realty-sectorin-need-for-a-makeover/articleshow/46513781.cms">Is Indian realty sector in need for a makeover?</a>

Home buyers breathe relief as RERA set to be implemented from today

If property builders <a href="http://www.businessinsider.in/thelife/real-estate/This-is-the-amount-your-builder-is-entitled-to-pay-you-over-delayed-possession/articleshow/55176819.cms">delay the possession</a> of properties, buyers would be entitled to get interest on the invested amount for the delay period. This rate of interest has been decided at 10% by the <keyword id="615001" type="ORGANIZATION" weightage="100" keywordseo="Real-Estate-Regulatory-Authority">Real Estate Regulatory Authority</keyword>'s (<a href="http://www.businessinsider.in/thelife/real-estate/rera-set-to-be-implemented-from-today/articleshow/58456912.cms">RERA</a>).As against rumours doing rounds, developers can still advertise and market their existing projects, said regulators and officials of MP, Punjab, Haryana and Delhi. They added that builders need to apply for registration for ongoing projects only by July 31.Also read: <a href="http://www.businessinsider.in/markets/economy/Is-Indian-realty-sectorin-need-for-a-makeover/articleshow/46513781.cms">Is Indian realty sector in need for a makeover?</a>However, projects that don’t apply for registration by July 31 will not be allowed to advertise. "So far, 14 states and UTs have implemented this law. There are 14 more states which are in process of notifying the rules. We hope that they will do it soon," said Rajiv Ranjan Mishra, Joint Secretary of <keyword id="1532140" type="ORGANIZATION" weightage="100" keywordseo="Housing-Ministry">Housing Ministry</keyword>.Also read: <a href="http://www.businessinsider.in/thelife/real-estate/all-government-departments-directed-to-spot-vacant-lands-for-more-affordable-housing-projects/articleshow/58065556.cms">All government departments directed to spot vacant lands for more affordable housing projects</a>As per Anthony de Sa, Chairman of Madhya Pradesh <keyword id="114913" type="COMPANY" weightage="100" keywordseo="RERA">RERA</keyword>, <a href="http://www.businessinsider.in/thelife/real-estate/Delayed-deliveries-from-builders-can-mean-tax-loss-of-lakhs/articleshow/50652618.cms">delayed ongoing housing projects</a> will be registered with RERA only if the developer agrees to pay the buyer interest at the authority's prescribed rate. This rate decided by RERA is 2 percentage points above <a href="http://www.businessinsider.in/Are-you-a-SBI-Card-user-Get-ready-to-pay-Rs-100-on-small-payments-via-cheque/articleshow/58243746.cms">SBI</a>'s <keyword id="6376846" type="ORGANIZATION" weightage="100" keywordseo="MCLR">MCLR</keyword> (marginal cost of fund based lending rate) of 8%. Buyers who delay payment of their dues will also have to pay the same interest at 10% and not the penal rates of 12% to 18% as mentioned in their sales agreement. Also read: <a href="http://www.businessinsider.in/Your-under-construction-flat-could-finally-provide-you-some-relief/articleshow/52673323.cms">Your under-construction flat could finally provide you some relief</a>

Delayed possession of property to attract 10% penalty

An additional 6.4 crore <keyword id="41366" type="General" weightage="20" keywordseo="homes" source="Orion">homes</keyword> are required by 2036 because of growth in <keyword id="48933" type="General" weightage="20" keywordseo="population" source="Orion">population</keyword>, according to CREDAI-Liases Foras. Realtors' apex body CREDAI, in collaboration with data analytic firm Liases Foras, launched an industry report at the New India Summit held in Varanasi. The additional housing requirement by 2036 due to the population growth is 64 million in India," the joint report said. In 2018, the housing shortage in India was 29 million <keyword id="6362117" type="General" weightage="20" keywordseo="houses" source="Orion">houses</keyword>, it pointed out. "Therefore, the total estimated housing <keyword id="6358993" type="General" weightage="20" keywordseo="demand" source="Orion">demand</keyword> by 2036 in India is 93 million," CREDAI-Liases Foras report said. The report mentioned that it is widely expected that the next wave of <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> growth will stem from Tier II, III regions. Housing demand was strong last year, which also witnessed over 19,050 RERA registrations at Pan-India level with 45 per cent projects falling in the residential segment. Boman Irani, President, CREDAI, said, "The rapidly growing Indian population and economy has resulted in accelerated demand and <keyword id="46639" type="General" weightage="20" keywordseo="supply" source="Orion">supply</keyword> of homes, while also improving home buyers' purchasing power and inclining them to buy bigger houses." Housing in tier II and III cities will witness a sharper trajectory, he said. Manoj Gaur, Chairman, CREDAI, said: "2023 was a remarkable year for all real estate stakeholders and we expect this demand trajectory to sustain in 2024 and beyond." Pankaj Kapoor, Founder and Managing Director, Liases Foras, said, "Indian real estate currently stands at an extremely important junction with sustained demand and supply greatly contributing to the GDP while showcasing a definitive way forward for reaching the USD 5 trillion goal."

Additional 6.4 crore homes required by 2036 because of population growth: CREDAI-Liases Foras

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> appreciated 26 paise to 82.62 against the US dollar in early trade on Tuesday tracking a positive trend in domestic equities. At the <keyword id="6515855" type="General" weightage="20" keywordseo="interbank-foreign-exchange" source="Orion">interbank foreign exchange</keyword>, the domestic unit opened at 82.71 against the dollar, then gained some ground to quote at 82.62, a gain of 26 paise over its previous close. In the previous session on Friday, the rupee slipped 9 paise to close at 82.88 against the dollar. The forex market was closed on Monday on account of Diwali. The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.12 per cent to 111.85. Brent crude futures, the global oil benchmark, rose 0.28 per cent to USD 93.52 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 51.96 points or 0.09 per cent higher at 59,883.62. Similarly, the broader NSE Nifty rose 23.80 points or 0.13 per cent to 17,754.55. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 153.89 crore on Monday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/despite-inflation-and-hiked-interest-rates-demand-for-real-estate-properties-to-grow-this-festive-season/articleshow/95014935.cms">Despite inflation and hiked interest rates, demand for real estate properties to grow this festive season</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/budget2016/infrastructure/real-estate/the-state-which-resolved-the-most-home-buyer-complaints-is-the-most-sluggish-when-it-comes-to-rera-registrations/articleshow/95071836.cms">The state which resolved the most home buyer complaints is the most sluggish when it comes to RERA registrations</a>

Rupee gains 26 paise to 82.62 against US dollar

Jaipur, May 13 () Providing relief to real estate developers amidst the COVID-19 pandemic, the Rajasthan government on Wednesday announced several relaxation in regulations. The Rajasthan Real Estate Regulatory Authority issued an order extending deadline of projects having valid RERA registration before March 19, 2020 by one year. It also waived the fees for this extended period. However, the standard fee prescribed by the order issued by RERA on August 16, 2019, will have to be paid, a statement said. The certificate for extended period for completion of project will be made available online. Similarly, developers have also been exempted from displaying quarterly report of projects on the regulator's website till March 2021. Stringent action against developers for implementation of refund orders will not be taken till March 31, 2021, it said. Developers will be able to divide their registered projects into more than one phase and make such amendments in the building plan so that the interests of the allottees is not be adversely affected. All such changes will also require the consent of a minimum of two-thirds of the allottees, the statement said. AG RVK

COVID-19: Rajasthan relaxes regulations for real estate developers

New Delhi, May 16 () Realtors' body Credai on Saturday demanded that real estate regulators across States should allow execution of sale agreements for booking of flats on stamp papers during this lockdown so that banks can provide home loans to customers to buy properties. Participating in a webinar organised by the Ministry of Housing and Urban Affairs to celebrate the three years of RERA law, industry bodies demanded that the government should reintroduce subvention scheme as prospective buyers cannot pay both rent and EMIs on home loans at the same time. They demanded one time debt restructuring for the industry and tax sops to home buyers among other measures to boost liquidity and demand in the realty sector. CREDAI, NAREDCO, Assocham and FICCI took part in this video conference. Speaking at the conference, CREDAI Chairman Jaxay Shah requested that regulatory authorities across States should allow sale agreements to be executed on stamp papers during this lockdown period so that banks and other financial institutions can provide loans to prospective customers. He said the Rajasthan government has already allowed this and other States should follow suit. The registration of Agreements to Sale is not possible now, Shah said. This would boost housing demand and keep the cash flow cycle moving, he added. Shah also demanded that there is a lot of data with real estate regulators across states, which can be collated and analysed for proper policy formulation for the overall growth of the sector. Niranjan Hiranandani, President of Assocham and Naredco, demanded that more stress funds should be created for last mile funding of the real estate sector and pitched for one time debt restructuring of builders loan. He also urged the government to reintroduce subvention schemes, which was banned by the government. Under the scheme, builders used to pay EMIs on behalf of customers till a certain period of time. HDFC's MD Renu Sud Karnad said there should be uniformity in all the websites of RERA across various States. She strongly advocated for reintroduction of the subvention scheme, saying that customers are facing liquidity issues and are not in a position to pay both rents and EMIs. CREDAI President Satish Magar demanded that local authorities should be brought under the ambit of the RERA law. Naredco Maharashtra President Rajan Bandelkar demanded tax sops for home buyers and also an increase in the Rs 45 lakh cap for projects to fall in affordable housing definition. MJH SHWSHW

Allow sale agreements on stamp papers during this lockdown for loan processing: CREDAI

New Delhi, Mar 18 () Realtors' apex body CREDAI on Wednesday said the construction work has come to a standstill while sales have been hit following the outbreak of coronavirus, and demanded the government to provide a three-month moratorium on debt repayment, additional liquidity and more time to complete ongoing real estate projects. The industry body has written a letter to Minister for Housing and Urban Affairs Hardeep Singh Puri seeking a bail out package. Giving details about the impact of coronavirus scare on Indian real estate, CREDAI said sales velocity and the receivables have been hit drastically leading to default/delay in fulfilling financial commitments (interest &amp; principal). Property buyers are skipping instalments payable on their purchases of real estate, it said, adding that rental income of retail properties has been affected due to closure of malls and multiplexes."The construction work has come to a standstill and delays in procurement/delivery of construction material (imported and indigenous) as well as the labour disruptions are bound to cause delay in completion of ongoing projects," CREDAI said.The association said that the governments world over have stepped in to provide immediate relief to businesses and industry to enable them to deal with the severity of the COVID 19 shock and urged Indian government to announce measures to help real estate developers.CREDAI recommended various steps that need to be taken immediately for cushioning the shock of COVID 19 to the Indian real estate sector.The association said the government should provide relief in interest and principal repayments falling due over the next three monthsin case of real estate projects.It also requested that penal interest charged by banks and other financial institutions should be suspended for a period of one year or until such time as it takes for the pandemic to abate."The construction work on real estate projects has come to a standstill and the material is also not available currently. Hence, the cost of construction of real estate projects has gone up across the board and is expected to rise further when the work resumes. "On the other hand, the cash flows are impacted due to the buyers not being able to fulfil their commitments on account of the financial market meltdown. Hence, the only way to meet the enhancement in the cost of projects due to COVID 19 is by way of additional funds from Banks and Financial Institutions," the letter said.CREDAI sought additional funds for real estate projects so as to meet the enhanced costs, on the same terms and conditions as existing loans and without additional collaterals.The association said that Section 6 of RERA law provides that registration granted under section 5 may be extended by the Authority on an application made by the promoter due to force majeure. The force majeure conditions envisaged under the Act include "war, flood, drought, fire, cyclone, earthquake or any other calamity caused by nature affecting the regular development of the real estate project"."COVID 19 does get covered under any other calamity caused by nature. Hence, it is humbly requested to please issue an advisory to the Real Estate Regulatory Authorities in all the states to please extend the time of completion of real estate projects as well as exempt the penal charges under RERA for a period of one year," CREDAI said. MJH MJH MRMR

Coronavirus: CREDAI says property sales, construction affected; seeks govt help to tide over crisis

<ul><li>Real estate sectors in India believe there will be a number of benefits that the sector will enjoy apart from the extension of registration and completion deadlines. </li><li>The government announced ₹3 lakh crore collateral-free automatic loans for businesses, including MSMEs which could encourage potential home buyers in their purchase decision. </li><li>Moreover, real estate firms will find it easier to get loans from NBFCs and HFCs. </li></ul> Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> announced that the Indian government will make space ₹3 lakh crore ($40 billion) collateral-free automatic loans for businesses, including micro, small, and medium enterprises (MSME). “The government will buy investment-grade (not high-quality) debt of non-banking finance companies to the tune of ₹30,000 crore,” Sitharaman said. It will be a special liquidity scheme, fully guaranteed by the government, that will keep them afloat and it will benefit housing sector, she explained. The government will also expand the scope of an existing partial credit guarantee scheme with an outlay of ₹45,000 crore. The government will bear the the first 20% loss on unpaid debt (AA-rated or below). Simply put, if some borrower (with the said rating) fails to repay the loan, the government will bear a fifth of that loss. Aside from being a much-needed relief for the stressed financial sector, there will be an indirect benefit for sectors like real estate. NBFCs and HFCs together contribute almost 56% of total lending to real estate in India currently, says Anarock research. “There is nearly ₹7.8 Lakh Crore with the banks at the present moment, that has been parked with the RBI at moment and it’s high time that, that amount is moved from the RBI and Banks to percolate liquidity in the economy,” Amit Modi, Director ABA Corp &amp; President Elect CREDAI Western UP said. There is more than cash boost for real estate Finance Minister Nirmala Sitharaman on May 13 extended the registration and completion timeline by 6 months for all RERA projects that expired on or after March 25. “Urban development ministry will issue advisory to states/ UTs so that Covid-19 period event be treated as a force majeure. They can treat it as an act of god. Extension of registration and completion date certificates may be extended dates by six months (expiry as of March 25, 2020),” Sitharaman said in a press conference. <div type="twitter" handle="PIB_India" handlename="PIB India #StayHome #StaySafe" image="http://pbs.twimg.com/profile_images/974552536408444928/TVZG_9jP_normal.jpg" favoritecount="425" retweetcount="256" status=".@MoHUA_India will advise States/UTs and their Regulatory Authorities to extend the registration and completion dat… https://t.co/W29izwxbb1" createdat="1589369967000" id="1260535124631777280"></div> The Indian government might extend this for another 3 months if need be. "These measures will de-stress real estate developers and ensure completion of projects so that homebuyers are able to get delivery of their booked houses with new timelines," Sitharaman said. The <keyword id="2240406" type="PERSON" weightage="20" keywordseo="real-estate-sector-in-India">real estate sector in India</keyword> was in a lot of trouble even before COVID-19 struck. “This is a big move that will destress developers significantly, since construction activity has been halted all across the country. Homebuyers’ wait for their homes will get extended by this move, but this was in any case inevitable,” said Anuj Puri, from Anarock. According to Ram Raheja, Director at S Raheja Realty, “these steps will help ease the liquidity concerns for the real estate sector as the strengthening of the NBFCs to lend will in turn enable liquidity flow in the ecosystem.”. See also: <a href="https://www.businessinsider.in/finance/news/income-tax-and-corporate-tax-deadlines-deferred-by-indian-finance-minister/articleshow/75717906.cms">Deadlines for tax returns deferred⁠— and other tax reliefs announced by Nirmala Sithraman</a> <a href="https://www.businessinsider.in/policy/economy/news/top-highlights-of-finance-minister-nirmala-sitharaman-speech-on-modi-20-lakh-crore-covid-19-stimulus/articleshow/75714287.cms">Finance Minister Nirmala Sitharaman reveals the details of Modi's ₹20 lakh crore stimulus package</a>

India’s stimulus promises to flush cash into the financial sector ⁠— some of it may reach real estate too

New Delhi, Jan 14 () The ED has detected over half-a-dozen alleged forex law violations by the Amrapali Group and found that homebuyers' funds worth over Rs 55 crore were laundered and sent abroad using shell firms, official sources said on Tuesday.
The federal probe agency also wants that JP Morgan, a US-based investment banking firm, embroiled in the case be legally "directed" to remit back funds worth about Rs 140 crore that were "unauthorisedly" sent abroad so that they can be confiscated, they said.
At least seven "serious contraventions" under the Foreign Exchange Management Act (FEMA) and its regulations have been detected by the Enforcement Directorate (ED) against the Amrapali Group's two companies -- Amrapali Zodiac Developers Pvt Ltd (AZDPL) and Amrapali Silicon City Pvt Ltd (ASCPL), according to the sources.
The alleged forex violations pertain to an unauthorised assured return of Rs 85 crore to the foreign investor under FDI (foreign direct investment), wrong-end use of FDI funds worth Rs 78.5 crore, unauthorised borrowings in the guise of FDI worth Rs 85 crore, wrong transfer of shares by AZDPL by the foreign investor to two Indian companies and illegal remittance by the Indian companies, among others.
The ED also found that the discounted cash flow (DCF) method (of valuing a project, company, or asset) deployed by the promoters of the firm was a "deliberate ploy" to falsely justify premium on re-purchase of shares when it did not exist.
It was detected, as per probe records accessed by , that the DCF method was "incorrectly applied" in this case and was "without any basis".
ED's Lucknow Zone Joint Director Rajeshwar Singh had on Monday apprised the Supreme Court about these facts and the progress made in the case. After this, the court asked the agency to ensure that the guilty are brought to book.
According to the sources, the ED has recently filed FEMA complaints for adjudication against AZDPL and ASCPL, before the competent authority of the case (a special director of the ED).
Apart from seeking a hefty penalty for the accused, it has sought directions to JP Morgan to remit back funds worth about Rs 140 crore so that they can be "confiscated" under the said law.
The probe records also said the Amrapali directors allegedly created shell companies and appointed dummy directors "in collusion" with JP Morgan and took away Rs 55 crore of the homebuyers' money.
The ED now wants to attach these funds under the stringent provisions of the Prevention of Money Laundering Act (PMLA).
It has obtained evidences in the case after it recorded statements of various accused, collected bank transaction documents and dossiers of the company and its promoters related to incorporation of the firm, its financial dealings and agreements forged by the Amrapali Group and JP Morgan.
The SC on Monday also allowed the ED to take into custody the now defunct Amrapali Group's CMD Anil Kumar Sharma and two other directors, Shiv Priya and Ajay Kumar, who are behind bars, for interrogation in connection with the alleged money laundering offences.
On July 23 last year, the top court had cracked its whip on errant builders for breaching the trust of homebuyers and ordered cancellation of the Amrapali Group's registration under real estate law RERA. 
The court had also ousted the group from its prime properties in the National Capital Region by nixing the land leases.
It had ordered a probe by the ED into allegations of money laundering and to look into the charge of FEMA violations by JP Morgan. NES NES DIV
DIV

ED detects multiple FEMA violations in Amrapali case; Rs 55 cr laundered abroad

New Delhi, <keyword id="6416579" type="UNKNOWN" weightage="20" keywordseo="Retail-Investors">Retail investors</keyword> in India directly bought stocks to the tune of $ 12 billion over January-September as the post-Covid period has seen rising retail inflows similar to the global trend. According to a report by foreign brokerage, Jefferies, the post-Covid period in India, similar to the global trend, has seen rising retail participation. The shareholding of small retailers has risen by 0.6% points (<keyword id="6678164" type="COMPANY" weightage="20" keywordseo="ppt">ppt</keyword>) over December 2019 to September 2020 while that for large retail has also gone up by 0.1 ppt during the period. MF's holding had declined by 0.1 ppt during the same. "Indeed, we estimate that retail investors direct buying in the market had witnessed <keyword id="2942681" type="PERSON" weightage="20" keywordseo="net-inflows">net inflows</keyword> of $12 billion over January-September 2020", Jefferies said. Even as domestic equity MFs see an outflow, domestic investors continue to add equity market exposure directly. Overall market ownership has jumped by 50bps during calendar year 2020. The report said that inflows into Indian equity funds has turned negative for the past six months. This is the first such reversal in the past six years. "Our analysis, however, shows that retail investors are choosing to go direct v/s. through mutual funds. The cumulative ownership of MFs and retail investors continues to rise. With the market breadth now widening, MF outperformance should return drawing the investors back in. We continue to remain optimistic on the overall retail participation in the market", it said. Explaining the reason for reversal in direction of flows from mutual funds, the report said it could be the change in direction of discretionary flows as investors possibly chased higher returns in individual stocks in the sharp market rally post Covid lows. The same is visible in SIP flows (monthly, automatic flows) where net inflows have declined 15% since their March 2020 peak, but are still substantially <keyword id="6439681" type="UNKNOWN" weightage="20" keywordseo="positive">positive</keyword>, at $ one billion. The MFs had tended to underperform in the early part of the rally as the high concentration nature of the same (select large caps) had made it tough for MF's given concentration rules. The report said that the amount of net worth held in equities by Indian households is in low single digits (4% as of December'20). However, there is a case for both a) financialisation of savings and within that b) of rising allocation to equities with bank deposits, for example, already forming a high share of the household net-worth at 16%. Nearly two-thirds of Indian savings continued to be deployed in physical assets (property and gold) and structurally, the case remains for a gradual shift of the same to financial savings. For an economy which is in a technical recession, Indian markets are doing extraordinarily well and now even the macro numbers led by <keyword id="6390251" type="PERSON" weightage="20" keywordseo="goods">Goods</keyword> and Services Tax (GST) collections are giving new evidence of a strong recovery. To add to the bullish fervour, Mumbai has seen record upswing in real estate transactions in December. According to foreign brokerage, Jefferies, "We maintain our positive stance on cyclical recovery in India, thanks to growing evidence that the housing cycle has bottomed out and is now set for a multi-year upswing". Now a new trigger is waiting to be added to the Indian economy's growth move. Jefferies says that a housing cycle likely recovery is taking hold. "We estimate that the potential upturn in housing can positively impact the broader GDP growth by 1-1.5ppts every year for the next five years -- eventually driving the long-awaited capex cycle", it said. It said the buyer sentiment is improving and inventory is down 20%. "Our proprietary housing affordability index is at the lowest (hence the best) level in the past two decades, and the numbers coincide with the bottom of the previous property cycle in 2003/04. The affordability has been attractive for some time and the only missing part has been buyer sentiment, which is now falling in place. The unsold inventory is down 20% from peak and we project that as sales accelerate, inventory would start hitting price gaining levels by end-2021," the report said. The Indian housing market sales volumes topped in 2013 and even by 2019 (pre-Covid) were 40% below peak, Jefferies said in the report. Several disruptions, such as demonetization in 2016, rollout of Real Estate Regulatory Act (RERA) in 2017 and the credit crunch of 2018-19, are now in the base. Post Covid, recovery has strengthened, as evidenced by an improvement in property sales of listed developers (90% of pre-Covid in September'20 quarter), industry-wide sales as per property consultants (85-90 <keyword id="45705" type="PERSON" weightage="20" keywordseo="Per-Cent">per cent</keyword> of pre-Covid by December'20 quarter) and recent property registration data showing growth in transactions year on year. "Given the breadth of the volume pick-up (across segments and cities), we believe that a longer cyclical upturn is now underway. We believe that sales in 2021 could exceed the 2018-19 levels by 10 per cent, nearly doubling YoY, as the property cycle gets underway", the report added. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/here-are-the-top-10-virus-and-diseases-that-could-cause-the-next-pandemic-if-they-arent-stopped-in-their-tracks/slidelist/80116787.cms">Diseases deadlier than COVID-19 are already in the making — here are the top ten candidates that could cause the next pandemic</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-burger-king-and-mrs-bectors-shares-fell-with-a-thud-and-what-to-do-now/articleshow/80120941.cms">Analysts explain why Burger King and Mrs Bector’s shares fell with a thud — and what to do now</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-bajaj-finance-hdfc-bank-beml-indigo-godrej-consumer-hero-moto-and-others/articleshow/80126217.cms">Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others</a> <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a>

You Searched For "rera registrations" and got 12 results

The state which resolved the most home buyer complaints is the most sluggish when it comes to RERA registrations

Katya Naidu

Home buyers breathe relief as RERA set to be implemented from today

BI India Bureau

Delayed possession of property to attract 10% penalty

BI India Bureau

Additional 6.4 crore homes required by 2036 because of population growth: CREDAI-Liases Foras

PTI

Rupee gains 26 paise to 82.62 against US dollar

PTI

COVID-19: Rajasthan relaxes regulations for real estate developers

PTI

Allow sale agreements on stamp papers during this lockdown for loan processing: CREDAI

PTI

Coronavirus: CREDAI says property sales, construction affected; seeks govt help to tide over crisis

PTI

India’s stimulus promises to flush cash into the financial sector ⁠— some of it may reach real estate too

Preeti Soni

ED detects multiple FEMA violations in Amrapali case; Rs 55 cr laundered abroad

PTI

India's retail investors bought stocks worth $12 billion between January-September in 2020

IANS

Full text of President Ram Nath Kovind's first address to the Parliament as the 17th Lok Sabha gets underway

BI India Bureau

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