Track2Realty: Considering the increasing scarcity of available land in our cities, it is becoming increasingly difficult to discuss affordable housing creation without also considering slums and their redevelopment. In latter-day India, almost every city has its slums.
Track2Realty: Narendra Modi’s government has made massive forward strides within a short period. The progress in such a short period is remarkable, considering that the government is still hamstrung by a disproportionate fiscal deficit and its ability to induce further growth through public investment.
Track2Realty: The formation of REITs – funds that own real estate but have shares that are listed on the stock market – will encourage the creation of big-ticket institutional-grade buildings, and will give developers a ready outlet for development projects.
Track2Realty: The biggest announcement for the real estate sector proposed by the newly elected Government in its Union Budget 2014–15 was the Securities and Exchange Board of India (SEBI) being directed to introduce Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts in India.
Track2Realty: Describing Union Finance Minister’s Arun Jaitley’s maiden budget as “half glass full” and half filled with hopes, realtors’ apex body CREDAI Chairman Lalit Kumar Jain said it met with some expectations and left some out.
Track2Realty: Maharashtra Government will soon come out with cluster development policy. This was announced on Friday, June 27, by Sachin Ahir, Minister of State for Housing, Slum Improvement, Housing Repairs and Reconstruction, Urban Land Ceiling, Industries, Mines, Transport, Environment and Parliamentary Affairs. He was speaking at the real estate conclave organised by Confederation of Indian Industry (CII) in Mumbai.
Track2Realty: Sustainable and inclusive urban development is of particular importance at this juncture of our economic growth. With the urban infrastructure of our major metropolitan cities bursting at the seams from increasing urban migratory patterns—which is only set to accelerate in years to come—the development of new integrated cities has become the need of the hour.
Track2Realty: Although the Interim Budget announcement supporting affordable housing was welcomed by the real estate industry, the segment has a long way ahead as yet. To begin with, there is considerable supply shortage in this arena—pegged at 18.78 million for the 12th Five Year Plan (2012–2017) by the Ministry of Housing and Urban Poverty Alleviation Ministry (HUPA), of which 96% is in the EWS and LIG categories. Housing shortage for the EWS stands at almost 11 million homes, while that for LIG stands at 7.41 million homes.
Track2Realty-Agencies: The government on Friday, Dec 13, said it would modify the Real Estate Regulatory Bill if necessary, and sought to allay fears of developers on the proposed law that aims to bring in transparency and protect home buyers.
Track2Realty-Agencies: The Securities and Exchange Board of India (SEBI), on Monday, Oct 29, pitched for tax incentives to woo investors into the proposed real estate investment trusts (REITs), which, it was felt, would go a long way in helping cash-strapped companies raise funds.