Affordable housing has become the new mantra in Indian real estate where builders are luring investors to buy houses which not only come under their budget but also fetch good returns.
'Genuine mistakes can and must be forgiven,' argues Vivek Gumaste.
'Your strike rate is very important when it comes to seat-sharing.'
Real Estate: Rejoices on cut in personal tax, 80IB (10) extension and interest subvention
The company may partner with local governments and land owners to launch its projects.
They want FSI to be in line with export benefits for the sale of residential properties to NRIs and foreigners.
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.
Real estate developers in Mumbai propose to join hands to construct 5 lakh affordable houses for middle and lower income groups in partnership with the Maharashtra government in the next five years in the fast-growing Mumbai Metropolitan Region.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The real estate sector is set to enter a progressive phase in 2015.
There is a shortage of 24.7 million housing units in urban areas at the beginning of the 11th Five Year Plan. Admitting the flaws in the housing sector planning for the huge gap between demand and supply, Selja said unfortunately the private sector only focuses on high-end housing and ignores low cost units.
Urban Development Ministry had in June last year released the guidelines.
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.
Nearly $1.2 trillion (Rs 53.1 lakh crore) is the capital expenditure needed to fund construction of infrastructure for water, sewage, transport and affordable housing among others, with 40 per cent of the estimated 1.47 trillion Indians living in urban areas by 2030.
First-time home buyers have stayed away from the market ever since developers, in a bid to cash in on the market sentiment, focused on launching luxurious projects, bigger in size and priced beyond the reach of average buyers. Property prices across India more than tripled from 2003-07, owing to rising incomes, mortgage availability at inexpensive rates, higher tax benefits and speculators flocking to the market.
The Qatar Investment Authority deal follows Byju's raising money from the Canada Pension Plan Investment Board, which was also the first direct investment by the Canadian pension fund in an Indian start-up. In March, Byju's had raised $540 million at a valuation on $5.4 billion, making it the most-valued ed-tech company in the world.
The housing stock demand may increase further
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."
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
At least 50,000 units of new residential property are set to come up over the next three years
If you have the fund resources to tap into, then go in for that dream home now, as putting it off for later could mean parting with more money.
Under the Slum Prevention Programme, the Mumbai Metropolitan Regional Development Authority will build 500,000 houses in the Mumbai Metropolitan Region over the next five years. Of this, 50,000 houses would be built over the next year, said metropolitan commissioner Ratnakar Gaikwad. Under the SPP, 160 sq ft houses with attached toilets will be made available for a rent of between Rs 800 and Rs 1,500. The MMRDA had earmarked Rs 100 crore (Rs 1 billion) for the SPP.
The scheme is expected to activate the measures announced for the housing construction sector under the economic stimulus packages. It will increase the stock of houses ranging from 300 sq ft to 1,200 sq ft plinth area built at affordable rates on land provided by state governments.
The slowdown is behind us and the country will grow at around 9-10 per cent, believes Adi Godrej, chairman of the Godrej Group.
India's once soaring demand for high-end apartments and offices has slumped, leading to falling profits for large property developers and a shift in focus towards affordable housing for middle-class families.
BSE Sensex ended at 25,549.72 up by 321 points or 1.27% and the Nifty ended 7624.40 up by 97.75 points or 1.30%.
Through NHB, the government has made available additional funds to the tune of Rs 60 billion to the housing finance sector. The bank is clearing oversees borrowing applications from housing finance firms to boost their funding requirements. NHB chairman and managing director S Sridhar shares his views on the current scenario.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
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.
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.
Rising oil prices, sharp slowdown in mutual fund inflows and steep valuations remain the key risks for Indian investors going ahead.
Sitharaman said economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up.
The country's new economic roadmap highlights the importance of creating a virtuous cycle of investment, savings and exports in order to sustain rapid economic growth over the next five years.
Nomura expects the fiscal deficit target of 3.5 per cent for 2016-17 to be met and to be consolidated further to 3 per cent of GDP in 2017-18.
Rated as one of the best real estate destinations by a number of agencies, Pune's realty market is fast losing its charm as developers are being forced to construct low-end schemes to increase sales. While more than 260 real estate developers are willing to pay three EMIs of home loans taken by their clients and some have offered to rent apartments to future clients, Pune's top developer Goel Ganga group has launched four low-end affordable housing projects in the city.
The cut comes as part of their plans to launch affordable housing project to lure buyers. Referring to slowing sales, Rajiv Singh, VC, DLF, said the cut in prices will be visible in the next three months. DLF indicated on Monday that it will launch two-, three-bedroom apartment projects in select cities in the coming months.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
This announcement will widen the base of investors, especially mid-sized financial institutions.
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