Realty sector welcomes CRR cut, but wants lower rates
The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.
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Realty cash crunch may end soon as govt sends positive signs
Sending positive signs from easing the cash crunch for the realty sector, Secretary for Financial Services D K Mittal on Monday, Sep 17, asked the commercial banks to focus on funding partially completed projects on a priority basis and development of projects in small towns.
Realty welcomes retail FDI decision
The government’s decision to operationalise FDI in multi-brand retail would help the realty sector as the move would create demand for retail space and boost mall development in the country, real estate developers and property consultants said.
Odisha Government moots rental housing for poor to check mushrooming slums
In a bid to check the mushrooming growth of slums in the state, the Odisha government is planning to create rental housing at an affordable monthly rent of up to Rs 2,000 for the poor.
Developers in Punjab oppose new levy on property transactions
Developers in Punjab have opposed the state government’s move to levy social infrastructure cess on property transactions, saying it would hit demand in the sector which is already facing slowdown.
Realty prices set to fall as government willing to reduce cost of funding
The Secretary, Banking, Ministry of Finance has agreed to look into the problems being faced by the real estate industry and work towards reducing the cost of funding through banks and financial institutions.
Meet on corporate real estate
The fifth edition of Global Initiative Restructuring Environment & Management (GIREM) Leadership Summit, the international forum for urban planning and corporate real estate, would be held at New Delhi on October 18 and 19.
SC stays Bombay HC order in developers VAT case
A division bench of the Supreme Court today stayed the Bombay High Court judgment in VAT case and passed an interim order extending the deadline for developers in Maharashtra for paying VAT by two months.
Karnataka Infrastructure Bill to grant single window clearance
The Karnataka Government is contemplating to introduce a single window clearance system for the construction of houses and complexes in the state, taking into consideration the demand raised by the Confederation of Real Estate Developers’ Association of India (CREDAI).
Realty reluctant to accept inventory holding allegation
Price rationalisation has always been a tricky issue in real estate business where demand and supply dynamics drive the market more than any other parameter. The fact that real estate is not a perishable commodity and mostly a business of deep pockets, holding of inventory many a time makes more sense than hard sell keeping in mind the pipeline visibility.