'Elementary, My Dear Holmes imagines Arthur Conan Doyle stepping into his own fiction, a man haunted by the clarity he created, forced to apply it to a world far messier than the one on paper.'
Ace investor Rakesh Jhunjhunwala on Thursday said real estate developers are afflicted with very low return on capital as compared to bluechip stocks. Jhunjhunwala, who runs RARE Enterprises and is set to be a major shareholder in an upcoming airliner, said only the affordable housing developers can look at listing because of the volumes which they can deliver. It can be noted that very few developers like Macrotech Developers formerly Lodha, and DLF are listed on the bourses. Jhunjhunwala cited the case of DLF, saying the stock price plummeted to Rs 80 from Rs 1,300 per piece to illustrate the risks associated.
"Minister Nath has agreed to hold the consultative dialogue from next week in the process of improving the working scenario between developers and the government sectors," he said at the ongoing CREDAI convention being held in Singapore.
Seek easing of asset classification guidelines for better credit flow.
The urban development ministry is expected to repeal the existing restrictions on real estate firms by allowing foreign investment up to 49 per cent, free of all conditions.
Speaking on the sidelines of a seminar organied by Confederation of Real Estate Developer's Associations of India in Kolkata, S C Kumar, senior advisor, Leadership in Energy and Environmental Design said, as many as 160 real estate projects across India, with nine in Kolkata, have got LEED recognition. The Leadership in Energy and Environmental Design green building rating system has been developed by the US Green Building Council.
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.
Locals have witnessed real estate prices skyrocket from a historic low of Rs 6,000 per square yard (in 2020) during Jagan Mohan Reddy's regime to around Rs 40,000 to Rs 50,000 per square yard after elections.
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Nanded City developed by the Magarpatta Town Development Corporation, is a Rs 6,000 crore project spanning a whopping 700 acres.
Association points out that over 40 clearances from various agencies are required for real estate projects.
There is need for buyers to understand cancellation rules before entering into a purchase agreement with a developer.
Builders on Friday blamed the Noida and Greater Noida development authorities for the current crisis and warned of similar problems in future due to their faulty land acquisition process.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
With the rise of wellness tourism and experiential travel, specialised jobs are being created in spa management, event planning and local experience curation, besides social media management.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Mumbai's realty sector will protest against an alleged decision deficit and policy paralysis in both the state and central governments besides various pertinent agencies.
Housing prices may rise by 5-10 per cent in the next 3-6 months as the cost of funds for developers is expected to increase following the Reserve Bank of India's decision to raise key policy rates by 25 basis points.
RBI, in its first bi-monthly monetary policy statement, left the short-term lending rate, or repo rate, unchanged at 8 per cent and the cash reserve ratio static at 4 per cent.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
The earlier ambiguity over bifurcation of the state had affected the real estate business.
Realtors' body CREDAI on Monday said the cost of construction has gone up by 20-25 per cent, mainly during the last 45 days, due to steep rise in prices of raw materials like steel, and builders will be forced to increase property prices from next month by an average 10-15 per cent. CREDAI-MCHI, the Maharashtra chapter of CREDAI, demanded that the central as well as state governments consider giving relief to the industry by reducing stamp duty and GST rates, besides allowing input tax credit (ITC) to developers. The association said it would not advise member developers to stop construction works as of now, but if the price rise continues then builders would have no option but to halt works at project sites and defer purchase of raw materials.
After Chennai, it is Coimbatore, Madurai, and Tiruchirappalli, that are emerging as manufacturing hubs. Coimbatore is India's top Tier-II city in terms of the number of GCCs, according to a report by Cushman & Wakefield.
Billionaire Gautam Singhania on Monday announced separation from wife Nawaz, saying the two have decided to pursue different paths. Singhania, 58, had married Nawaz Modi, daughter of solicitor Nadar Modi, in 1999. "This Diwali is not going to be the same as many in the past," Singhania, chairman and managing director of textiles-to-real estate conglomerate Raymond Ltd, said in social media posts.
CREDAI Chairman Lalit Jain said a long term status quo on interest rates would not help prospective home buyers.
he hike in service tax rate from 12.5 per cent to 14 per cent will increase the costs of buying
Try to assess whether the broker has good knowledge of the prices prevailing in the area you are interested in, and is able to provide the pros and cons of various projects.
There are solid reasons recent observations at the company raise question marks about its adhering to corporate governance in spirit.
The association demanded that the interest rates for developers as well as home buyers should be brought down to boost realty sector, which is facing a slowdown in demand.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
At least 38 per cent, or 8.3 million square feet, of its projected commercial space of 21.4 million square feet in its six parks will thus remain indefinitely on hold. The rentals from all these parks were expected to generate revenues for its AIM-listed associate Unitech Corporate Park, which has invested pound 317 million to acquire majority stakes in all the six seed projects in return of leasing rights.
After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
Realty firms and consultants hoped however that this would be the last round of monetary tightening by the central bank.
The government will give a final shape to its proposed flagship scheme on developing '100 smart cities' next month.
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