The regulator permitted banks to extend loans against long-term infrastructure bonds.
Jayashree Kanam is waiting for the Class X board examination results. But her story is far from ordinary.
Hit by slackening demand amid economic slowdown and high interest rates, the real estate sector has asked for infrastructure status for the housing sector in the Budget for 2013-14, which would help it avail of tax benefits and easier flow of credit.
Maharashtra Minister of State for Transport and senior Nationalist Congress Party leader Gulabrao Deokar was on Monday arrested for alleged involvement in a 1997 housing scam related to the construction of 11,000 low-cost houses in Jalgaon, north Maharashtra. Deokar, who was a member of the Jalgaon Municipal Council between 1995 and 2000, was summoned to the Zilla Peth police station at Jalgaon and arrested, police sources said.
A senior company official was killed and 100 others were injured in the violence at the Maruti's plant in Manesar last month.
The levy has also been removed on low cost houses up to a carpet area of 60 square metres in a housing project under any housing scheme of the state government.
With their home markets in turmoil, large global investors such as Blackstone, Carlyle, Morgan Stanley, JP Morgan and the Government of Singapore Investment Corporation are actively scouting for and signing deals in the Indian property sector.
The 'Pinwheel House' has been designed by Ying Chee Chui, a graduate of MIT's Department of Architecture, has been built in Mianyang, in Sichuan Province, China.
Housing regulator, NHB, which is awaiting $ 500 million loan from the World Bank for low cost housing, today said property prices would rise in the next one year, but that would result in correction in these rates in all the metros subsequently.
Plan is to sell flats, of sizes 385-500 sq ft, at prices ranging from Rs. 7 lakh to Rs. 10 lakh.
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.
The company may partner with local governments and land owners to launch its projects.
The minister also announced that the low-cost housing (property up to Rs 20 lakh) segment would be exempted from service tax.
From micro wind turbines to rice husk, low-cost solutions are being tested to drive the huge market hunger for energy.
To promote low-cost housing, this Budget proposes to extend the existing one per cent interest subsidy for a loan up to Rs 10 lakh for a house costing not more than Rs 20 lakh to apply for a housing loan up to Rs 15 lakh for a house costing up to Rs 25 lakh.
Government banks have demanded that the amount eligible under the farm waiver scheme should continue to be considered lending to the farm sector till the government clears the dues to help banks meet the mandatory priority sector lending target.
The challenge is making governments at the Centre and in the states start focusing on the needs of towns and cities
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.
The government is likely to announce early next week a series of measures to boost economic activity in the country.
"The people have voted in large numbers for Congress and the policies of the DF governments," Deshmukh said in a official release.
The local Daily News, edited by Indian-origin Dennis Pather, wrote an editorial condemning the letter and said Rajbansi was a product of apartheid politics.
In a significant development, the Bombay High court on Monday set aside the sale of 600 acre of surplus textile mill land by National Textile Corporation in prime locations.
'You peel one layer, then another layer, then another, but in the end, you will see that there is no onion inside.' 'This package has been packaged well, but there is nothing much inside the package!'
In line with its commitment to the welfare of unorganized sector workers, the central government on Tuesday announced doubling of subsidy for construction of low-cost houses for beedi workers across the country to Rs 40,000 per unit.
RBI has made it easier for developers to access foreign money to spur low-cost housing projects.
'Painting opponents as the enemy of the State, using fake news, making wild allegations about rival parties, curtailing civil liberties and challenging the Constitution itself are worrying developments.'
The industry said if the policy was announced, it would have taken 28 million vehicles bought before March 2005 off the road.
Traders said the current demand is backed by government-funded projects which usually come up in the months before the election and the pace may slow down after the election, pushing the growth back to the previous levels.
'We will be able to provide 450 square feet house in Rs 5 lakh,' Nitin Gadkari said.
Four persons were on Tuesday arrested for their alleged involvement in the killing of 45 Shia Ismaili Muslims who were gunned down by IS militants in a bus attack in Pakistan's volatile Karachi city last week.
'Where was cement 100 years ago?' 'Why do we need harmful building materials when we have so much in nature around us?' Geeli Mitti founder Shagun Singh tells Samali Basu Guha.
India has an urban housing shortage of about 18.7 million units, with 95 per cent of this shortfall in the low-cost housing segment, and 43.7 million in the rural belt.
India became more dependent on Iraqi oil recently after it cut supplies from the sanctions-hit Iran.
EPFO manages a huge corpus of over Rs 6 lakh crore (Rs 6 trillion).
PM's announcement were focused on those most affected by the note ban.
It is not advisable to touch retirement corpus if property is being purchased for investment.
Currently, there's a shortfall of 23 million houses in India.
The real estate sector presents a daunting picture with revival prospects appearing to be bleak.
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
'Can he be the statesman that a divided nation needs?' 'Not remotely, but by following his gut, he may yet surprise the scores upon scores of naysayers,' says Vikram Johri.
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