'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
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.
The move will help address apprehensions as well as potential disputes on various computational and transitional issues such as the loss of input credits and pricing that were bound to arise on account of the change.
Project delays, stretched balance sheets impacting asset quality indicators of HFCs.
Whether it is DLF in the National Capital Region, or Godrej Properties and Oberoi Realty in Mumbai or Sunteck Realty, Prestige Estates and Sobha Realty in Bengaluru, most top players have launched or lined up a slew of new project launches during this season.
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
The settlement offer has been made for 13 out of the 15 Videocon group companies that are currently under Corporate Insolvency Resolution Process.
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.
Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government was in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs. There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
The government has introduced friendly policies for the infra sector
Unitech would launch affordable housing projects in seven cities this week. The projects would come up under 'Uni Homes' brand at an affordable price range of Rs 10-30 lakh (Rs 1-3 million). The projects would come up at Noida, Greater-Noida, Chennai, Kolkata, Rewari, Bhopal and Mohali.
A group of realty players have urged the government to reduce various taxes saying that governments should play the role of facilitator to push affordable housing in the country.
The two entities' combined distribution network would comprise 4,182 banking outlets and 476 ATMs across 34 states and Union territories of India, with more than 31,000 employees serving about 15 million customers across the country.
In the wake of interest rates coming down, realty companies seem to be banking on low cost affordable housing projects.
Realty player Raheja Developers will build up to 30,000 apartments in the affordable housing category in the National Capital Region in the next two years, which will be offered at Rs 4-25 lakh.
Affordable housing, the most neglected segment of the real estate sector, is now attracting large-scale investments from developers as well as private equity funds.
Developers have demanded lower borrowing cost for the housing sector as well as reduced taxes to promote affordable housing.
Hyderabad is perhaps one of the most affordable cities among all tier 1 cities of India.
The government has also proposed to set up a Mission on Low Cost Affordable Housing to be anchored in the National Housing Bank.
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.
Only when we are part of the same family, which will happen down the line, then, of course, we will give them (PMC depositors) all the assurance and the comfort.'
Gadkari said, infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from MSMEs can attract large scale foreign investment.
In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.
The Reserve Bank of India Deputy Governor Rakesh Mohan urged housing finance companies on Sunday to look at designing home loan repayment structures which would suit individuals with irregular income flows and in need of affordable houses.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
Data suggests that households too are expecting inflation to subside, with the three-month-ahead and the one-year-ahead expectations declining by 40 basis points, reports Abhishek Waghmare.
.jpg)
Tata Value Homes, a 100 per cent subsidiary of Tata Housing, on Monday launched its exclusive e-commerce platform to sell flats and is eyeing up to Rs 1,000 crore (Rs 10 billion) revenue by FY2015-16.
Margins for developers have fell to 15-20 per cent in affordable segment.
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
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
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.
Modi and Najib also invited each other to visit their countries.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
The Reserve Bank has paved the path for increasing the liquidity for banks, enabling several positive steps in the real estate sector.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
Opt for an affordable house on a metro's periphery, invest and wait it out.
Keki Mistry, vice chairman and CEO, HDFC tells Joydeep Ghosh and Chirag Madia that unlike some other players it never went for excesses and never took unreasonable risks.
Raghavendra Kamath reports on what ails India's real estate sector.
Home sales in the top 10 cities - Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - have declined at a compound annual growth rate of 8% since 2011.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances