Track2Realty Exclusive: The Union Cabinet has cleared the Land Acquisition Bill, the realty sector is debating its pros & cons but the home buyers are apprehensive whether the house prices will shoot up in proportion of the higher cost of fresh land acquisition. The Bill cleared by the Union Cabinet makes the consent of 80 per cent of owners mandatory for private projects.
Track2Realty-Agencies: Land prices will escalate leading to rise in housing price if the Land Acquisition Bill is passed by Parliament, real estate developers and property consultants have said.
Track2Realty: The National Real Estate Development Council (NAREDCO) has requested the government to extend the computation period for availing itself of income tax benefits by one more year. This period is going to end on March 31, 2013.
Track2Realty: President of India Pranab Mukerjee on Friday, Dec 7, urged the private sector to come forward to meet the housing shortage in the country. He was inaugurating the two day convention on Sustainable Housing For Masses organised by National Real Estate Development Council (NAREDCO).
More than 1,000 registered attendees from around the world will converge in Shanghai next week for the 2012 ICSC Retail Real Estate World Summit. More than 70 speakers around the globe from companies ranging from Apple and Walmart to India-based K Raheja Corp. will be discussing the latest trends transforming the international retail real estate industry.
Global experience has it that typically convention centres are done as part of a large integrated township, commercial complex (hotel, office and convention center). Hence such projects are of more interest to large developers.
Quality has suddenly become the buzzword in the realty sector to tide over the unprecedented crisis meet with the uncertain times ahead. Builders are now hiring quality surveyors, construction project manager, energy efficiency specialists and others who can get them quick buyers.
During the boom, many developers dreamed of transforming the urban landscape with millions of square feet of homes, offices and malls and set off on an aggressive expansion financed with debt that at 6 percent interest was cheap by Indian standards.
Redefining Public purpose, as suggest by Parliamentary Committee, will impact infrastructure, industrial and township development severely.
Provisions of LA and R&R Bill should not apply to private acquisitions done by developers after direct negotiation with land owners/farmers. Privately negotiated prices, in almost all cases, are much higher than acquisition compensation suggested in the bill.
The government has formed a committee to evolve a workable strategy for reducing the time taken in approval of real estate projects which could ultimately reduce the cost of houses by 25 to 40 per cent, minister of housing and urban poverty alleviation Kumari Selja said on Friday, May 11.