Real Estate: Rejoices on cut in personal tax, 80IB (10) extension and interest subvention
The acquisition of the debt-laden Binani has catapulted Birla-owned UltraTech to the top spot in India, leaving it free to turn attention to overseas market
Prime Minister Narendra Modi on Tuesday pitched India as the most attractive investment destination for those looking to invest in urbanisation, mobility, innovation and sustainable solutions. Speaking at the Bloomberg New Economy Forum, he said India and some African nations will witness the biggest wave of urbanisation over the next two decades. The post pandemic world has to be rebuilt around people and cities will have to be made more liveable, he said adding post-Covid restart will not be possible without a reset of mindset, process and practices.
Given its focus on the real estate sector, financial planners feel this scheme is not meant for first-time investors and any investor should only have 5 to 10 per cent exposure to this fund.
The Union Budget 2013-14 has been largely neutral as far as Real Estate industry as most of its specific demands/wishes ignored especially that of infrastructure status, allowing ECB for all segments against current affordable housing alone.
We understand the electoral compulsions, the desperate need for the BJP to have at least 50 per cent of the Hindus vote for them in Uttar Pradesh in a few months. For that, you need polarisation, put your own Muslim compatriots on the 'other' side. This is how your domestic politics runs contrary to your national, strategic interest, warns Shekhar Gupta.
It also promised to launch the 'Poshane' scheme through which every BPL household will be provided with half litre 'Nandini' milk every day and five kg 'Shri Anna - siri dhanya' through monthly ration kits.
Does low-cost housing make economic sense? It seems to. Developers believe the loss in margins (20 per cent in affordable housing, against 50-300 per cent in case of premium housing) can be made up somewhat by the sheer volumes of sales.
For those planning on buying a house, it is the best time to start looking around and negotiating. Considering that banks are floating new schemes to fund home buyers, you can shop around for loans that give you the best deal.
A study conducted by CBRS reveals there are abundant homes lying vacant in urban India.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
.jpg)
The year so far has witnessed several luxury project launches by major real estate companies such as DLF, Unitech, Supertech, Tata Housing and Godrej Properties.
If you are in your 20s, renting out an apartment and under pressure from parents and peers to buy that dream home, just make these solid arguments to tell them why it just doesn't make any sense!
The study further said the mid-range housing segment is expected to drive the maximum demand of 45 per cent.
Look at the sanctioned plan to know the exact carpet area you will get and pay a law firm to conduct a thorough title check.
The government said on Sunday that public sector banks would shortly launch a package for home buyers. The government expects lower interest rates offered by the public sector banks to trigger similar moves by the private banks and housing financing companies, thereby spurring the demand for homes.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
Pune, Noida, Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a decline in sales as well as launches, while only two cities, Mumbai and Gurugram, saw a rise in demand and supply.
PMAY-Gramin, which was launched in November 2016, aims to construct 10 million homes by March 31, 2019, with private sector and state government participation
Sushanto Roy, CEO, Sahara Prime City, has in a pre-Budget wish list of expectations said: "Given the pent-up demand for affordable housing which was discovered during the recent slowdown there is a need to reintroduce tax holiday under section 80IB for housing projects constructed after March 31, 2008."
Are you worried about your relationship with your partner or friends or colleagues? Ask Dr Ashish Sehgal for advice.
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.
Rising interest rates and an 'overheated market' are stabilising residential property prices in some key pockets, but a steep correction is unlikely.
'A very large part of this would have come from opium.'
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
There was uncertainty after the courts annulled land acquisition in a couple of these villages.
'People are blowing up their entire retirement fund; they are selling their land and house to spend on one day for a marriage.'
Talks of a merger between HDFC Bank and parent HDFC Ltd had gained steam nearly eight years ago, when the Reserve Bank of India allowed banks to issue long-term bonds to fund infrastructure and affordable housing. At that time, key executives at both entities denied any such proposal. And today, the merger has been officially announced by the two players.
India needs about 19 million low-cost homes -- roughly defined as costing a million rupees ($16,700) and below -- to shelter an urban population expected to nearly double to 600 million by 2030 from 2011.
Tata Housing develops residential property of four different economic categories -- ultra luxury (Rs 3-7 crore or Rs 30-70 million), premium (Rs 80 lakh-Rs 2.5 crore or Rs 8 million to Rs 25 million), affordable (Rs 15-50 lakhs or Rs 1.5 to Rs 5 million) and value homes (sub Rs 10 lakhs or Rs 1 million).
A revival in the sector is still 12-18 months away: Experts
They want FSI to be in line with export benefits for the sale of residential properties to NRIs and foreigners.
Housing sales fell by about 30 per cent last year in seven major cities due to costlier flats and higher interest rate, says property consultant CBRE.
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
Undeterred by the real estate crisis after Dubai World's request to creditors for a standstill on repayment of its $60 billion debt until May, the Confederation of Real Estate Developers' Associations of India (Credai) has stuck to its original plan to hold its national convention during January 23-25 in Dubai.
If you have a creative streak yet enjoy the finer aspects of science, you might want to consider architecture as a career option.
Warburg Pincus, the private equity major, is set to enter an equal joint venture with Patu Keswani's Lemon Tree Hotels to get into affordable housing.
Three takeaways for individuals living in a global society today, where misinformation and disinformation are rife.
Several professors of Jawaharlal Nehru University and other institutions have accused a former JNU employee of duping them of crores of rupees promising them homes on a Delhi Development Authority (DDA) plot under a housing development scheme which was never there.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances