Blaming use of black money in real estate to archaic laws, India’s largest realty firm DLF has said Prime Minister Manmohan Singh’s emphasis on reduction of stamp duty will help in cleansing the sector.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
Terming stamp duties as a “big obstacle” in ensuring transparent transactions in real estate, Prime Minister Manmohan Singh on Friday batted for reducing such levies to check the flow of black money in the sector.
Real estate has emerged as the most preferred investment avenue for working professionals in non-metro centres vis-à-vis bullion and stock market.
As the Reserve Bank of India meets to review its monetary policy tomorrow, Thursday, the realty sector is getting panicky that if there is a rate hike the sector may see some more pains in the coming days.
Dubai’s real estate market is likely to bottom out in the next one year, while peer Abu Dhabi will at least a much longer time, according to Jones Lang LaSalle (JLL) experts.
Stocks of real estate companies suffered widespread losses on the BSE today dragging down the sectoral index by 3.14 per cent on all-round selling by funds on fears of rate hike by RBI to curb inflation.
Real estate and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.
Chinese officials are blaming the speculators for soaring property prices and have announced to build 36 million affordable homes over the next five years.
Times Realty India 2011, a two-day exhibition being held in Dubai on the realty sector of India opens today in Dubai. The exhibition will see participation from some of the biggest organizations in the property industry from India.