Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
In a double whammy for real estate developers, banks are likely to raise lending rates to builders by up to one percentage point while consumer interest fades with home loans becoming more expensive.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Muizzu's announcement also comes days after a Chinese research vessel spent about a week around Male and more than a month just outside Maldives' EEZ.
Launches and sales of house property have seen a continuous drop.
With the spate of businesses turning their attention to Ayodhya, land rates have shot up, in some pockets by as much as 10 times. Whether one walks into a hotel lobby or sits down for a meal, land deals are being discussed at every other table -- one on one or among groups.
Prices of residential property in Mumbai, NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata and Ahmedabad witnessed a sharp fall in H1-2020 with Kolkata witnessing the steepest drop of 7.5% to Rs 33,433 per square meter. Demand for office space fell the most in Pune and NCR markets at 47% and 45% respectively.
Bengaluru recorded the highest green building stock at 140 million square feet, followed by Delhi-National Capital Region at 74 msf, and Hyderabad at 72 msf for Grade A office buildings as of September 2023.
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
With sentiment up, launch of new projects revives, though much dissent on whether this is a real return of a positive market
Without naming the entity, he said some players are at a pre-clinical stage and may reach the clinical stage by October. Responding to a question on absence of a vaccine currently and the prospects in the next few months as the lockdown eases, VijayRaghvan emphasised on aggressive rapid testing and tracking.
A 5% increase is expected due to additional interest on approval costs.
Most economists expect the global economy to weaken in the coming year amid political and financial volatility, but a large majority of over 90 per cent are confident of moderate or strong growth in South Asia, notably India, a survey showed on Friday. At the same time, the outlook for China has dimmed following signs of deflationary pressures and fragility in the country's real estate market, the World Economic Forum's latest 'Chief Economists Outlook' report said. As the world grapples with political and financial volatility, almost six in 10 believe the global economic outlook will undermine progress towards meeting the UN Sustainable Development Goals (SDGs), with 74 per cent saying geopolitical tensions will have the same effect.
Real estate developers are feeling the liquidity crunch -- the sources of funds are drying up even as they get squeezed from both sides: high interest rates and property prices have hurt offtake while rising steel, cement prices have pushed up input costs 20-25 per cent, which developers have to absorb for now.
'There is something in our desh ki mitti that has held us together.'
'So many conquerors, colonisers, cultures came and went, but we withstood them and rose up again.'
Residential sales have declined 60-70 per cent in Mumbai due to high property prices and rising interest rates.
The net debt of top eight realty firms fell 43 per cent to Rs 23,000 crore last fiscal, from around Rs 40,000 crore in 2019-20, as their cash flow improved on strong housing sales, according to Anarock. Real estate consultant Anarock noted that the unfettered demand for housing across the country has enabled the country's leading large and listed developers to reduce their debt. Anarock analysed financial performances of the top eight developers engaged in the development of residential real estate.
Most developers Business Standard spoke to claimed a 25 to 30 per cent spurt in sales to NRIs over the last two months.
The maximum fall on total market valuation will be in Mumbai (Rs 2,00,330 crore) followed by Bangalore (Rs 99,983 crore) and Gurgaon (Rs 79,059 crore).
A trust deficit had been building between developers and their customers, with massive incidence of project delays and deviations. Compliance with Rera is an opportunity to revive buyers' confidence.
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
The overall physical presence of life insurance companies in Tier-II and Tier-III cities increased in FY23 compared to a year ago period on account of the higher impetus given to financial inclusion by the government and insurance regulator, as well as recovery from the Covid-19 pandemic, according to the latest data released by the Insurance Regulatory and Development Authority of India (Irdai). It is the first time that there has been growth in the number of offices since the financial year 2019-20.
A Delhi court on Wednesday convicted four people for the murder of television journalist Soumya Vishwanathan, who was shot dead 15 years ago while she was returning home from work.
A bench comprising Chief Justice Pritinker Diwaker and Justice Ashutosh Srivastava passed the order while hearing a PIL filed by Anand Sharma and another person from Mathura.
She said she has decided to resign from the party with a "heavy heart and disillusionment" and tagged BJP national president J P Nadda and the saffron party's TN chief K Annamalai among others in her social media post.
To give impetus to the real estate sector, Goyal proposed to extend the period of exemption from levy of tax on notional rent on unsold inventories from one year to two years.
UK fashion retailer Superdry on Wednesday said it will sell its intellectual property assets in South Asia to Reliance Retail for 40 million pounds (Rs 402 crore) through a joint venture. Superdry, whose fashion line mostly includes sweatshirts, hoodies and jackets, will own 24 per cent of the joint venture while Reliance Retail, India's largest retailer, will have the remaining 76 per cent. Under the agreement, Superdry's brand IP assets in South Asia will be permanently transferred to the new JV entity.
The New York-based Citigroup Property Investors will invest up to $120 million in Bangalore-based Nitesh Estates' luxury hotels.
Television visuals showed BJP workers mobbing the car at Khandoji Baba Chowk and vandalising it, resulting in the vehicle's windscreen and side panes getting damaged.
Mohan said bilaterally also, India is working with countries like the United States.
The real estate regulatory bill, when enacted into law, will ensure that home users get timely possession of properties, and as per the specifications promised by developers, say realty firms and consultants.
The Supreme Court on Friday directed the Manipur government to apprise the apex court-appointed committee of the steps taken to secure places of public worship in the state where ethnic clashes have claimed more than 170 lives since May.
The company will develop one million sq ft of property in Male in a joint venture with Maldives government.
Even non-Muslims can create Wakf property but it would be invalid if done with a sinful objective to subvert the law, the Supreme Court has ruled upholding the land acquisition of a popular educational institution in New Delhi.
The NIA, on March 17, filed a charge sheet against 59 accused, including the PFI as an organisation, in a case registered last year.
The panel headed by Justice (retired) Ritu Raj Awasthi has submitted its report to the government, calling for an exhaustive overhaul of the law.
CDC Group, the UK-based private equity fund-of-funds operator, is to invest $250m (pound 126m) in to three Indian infrastructure and real estate funds, joining a growing list of foreign groups targeting the sectors.
Banks are not allowed to lend to developers for purchasing land parcels.
Boeing, the US-based global aircraft manufacturer, has signed a Memorandum of Understanding (MoU) with government-owned Bharat Electronics Ltd (BEL) to develop an analysis and experimentation centre.
