From auto to watches, the mood is sombre due to the alarming state of the Indian economy and value erosion in stock market capitalisation.
GST rates on under-construction houses maybe reduced from 12 pc with input tax credit to 5 pc without ITC. Similarly, the rate for under-construction affordable houses could come down to 3 per cent without input tax credit, from the current 8 per cent.
'The government has just scratched the tip of the surface with the recent announcement. They are not realising the gravity of the situation.'
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
According to experts, banks have found better arbitrage opportunities in dollar terms in mature economies with mortgage and leverage rather than take equity exposure on Indian real estate.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
These exist in a unique world of by-invitation-only properties -- those that are never advertised and which money alone cannot buy. One cannot simply walk in for a tour of these apartments. A buyer must first meet the developer's targeted social criteria to get invited for a walkthrough of the property.
