It is a highly disappointing budget. The Finance Minister has miserably failed in highlighting the importance the role of Housing in economy, employment generation, apart from the very need of housing. The announcements on ECB for affordable housing is a minor respite but still meaningless.
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The recently tabled Land Acquisition, Rehabilitation & Resettlement Bill, 2011 in Parliament is meant to replace the 117-year-old Land Acquisition Bill of 1894.
What Government can look at is to increase the demand and continue interest reduction in housing or enhance the deduction limit. Government can also provide special tax incentives for budget housing.
The ever-increasing housing needs in urban centers have caused home prices to shoot up to extremely unaffordable levels.
We recently saw an unprecedented turn in India’s history, when public opinion and passive resistance led by a small group of ‘civil society’ representatives persuaded a reluctant Government to proceed towards an anti-corruption legislation.
The RBI move to raise the repo rate by 50…
In Mumbai, rising costs and lack of space make it unfeasible for residents to move out of aging and often sadly dilapidated housing societies.
Sports cities – townships conceived and executed on a sports-centric theme and lifestyle concept – are a unique emerging real estate trend in the country.
The Indian rental housing sector is seriously under-serviced by the organized real estate industry.
The favourable budget outcomes are enhancement of priority home loan limit to Rs. 25 lakhs from Rs. 20 lakhs and extension of interest subvention of 1% up to Rs 15 lakhs.