[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
Top real estate brokerage firms have urged the Delhi government to reopen the registry
offices as over two dozen high-value transactions were on hold and both buyers and sellers
were facing problems in closing transactions.
Delhi has been under lockdown since mid-April. Though several government offices were
allowed to function during this period, registry offices remained shut as officers were
reassigned on Covid duty.
“It is not just the registration of property, but registration of will and general power of
attorney is also on hold, affecting real estate transactions. The more time you give both
parties, higher the chance of renegotiation,” mentioned Amit Goyal, the India chief
government at Sotheby’s International Realty.
Brokers lively in the area mentioned a number of offers of farmhouses, bungalows and of
some Lutyens’ Delhi properties have been in the ultimate stage of negotiations when the
lockdown was imposed.
Gurgaon, Noida, Mumbai and Goa have reopened the registries.
Since the lockdown restrictions have been eased in May final 12 months and till the clamping
of the lockdown once more in this April, there had been a spate of high-value transactions
in Lutyens’ Delhi and South Delhi, with entrepreneurs and rich people in search of larger
properties in the capital’s poshest colonies.
Surrounded by Shanti Niketan, Vasant Vihar and Chanakyapuri, West End is among the
many most sought-after areas by rich individuals who desire unbiased bungalows.
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Have a nice day