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.
The Land Acquisition Bill was cleared by the Union Cabinet on Thursday, making the consent of 80 per cent of owners mandatory for private projects.
"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.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
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.
SBI, the country's largest lender, first announced a rate cut of 0.25 per cent in its home loan rates on Thursday, forcing HDFC, the second biggest home loan financier, to respond.
he hike in service tax rate from 12.5 per cent to 14 per cent will increase the costs of buying
Real estate biggies unhappy with status quo on RBI rate cut.
Real estate loans could become NPAs for banks.
Realty firms and consultants hoped however that this would be the last round of monetary tightening by the central bank.
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.
RBI has taken a balanced approach in the credit policy considering various developments across the globe and their near term impact.
India Inc expects the RBI to cut interest rates by early next year.
The real estate industry today hailed the RBI's decision to cut key interest rate, saying the move will boost housing demand and also improve sentiments in the sluggish property market.
In commercial real estate, leasing of office space was higher although the activities were subdued in retail segment.
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