The much talked about and widely anticipated Real Estate Regulation and Development Bill may not get cleared in the current Budget Session of Parliament, since the government is getting cold in the wake of the Union Government running into opposition from the states on a host of issues, including the proposed National Counter Terrorism Centre and Lokpal Bill.
The contour of the Real Estate Draft Bill has been changed to make it a central legislation, a shift from it being a state matter earlier.
Fraudsters will soon find it difficult to dupe banks by mortgaging the same property with two lenders or selling mortgaged property.
As Central Business Districts (CBD) begin to gradually lose their sheen against alternative locations because of their inability to offer Grade A buildings at competitive rates, retrofitting emerges as a preferred option (as compared with redevelopment) for quality improvement to increase the attractiveness and economic life of existing old buildings.
The ancient Chinese curse ‘may you live in interesting times’ certainly has a lot of pertinence to Indian real estate today. These are doubtlessly ‘interesting’ times for the sector, which has transformed significantly over the last decade. The pace of transformation has been accelerated further by the Central Government’s reformative steps aimed at ushering in ‘Acche Din’ to the realty sector.
Track2Realty Exclusive: In 2014, India elected a new Central Government with absolute majority after three decades. The absolute majority helped in the formation of the strong government capable of taking decisive steps without much opposition. Likewise, several pro-business reforms were introduced to propel the infrastructure growth and to infuse a positive sentiment for the future of the real estate sector including revitalising Special Economic Zones (SEZs), development of several industrial corridors, creation of 100 smart cities, relaxation in FDI norms in real estate, supporting affordable housing sector, introduction of REITs and InVITs etc
Real estate developers have sought inclusion of “force majeure” provisions in the proposed real estate bill drafted by the Central Government.
Why did the Central Government register its debenture-issue prospectus and then take well over a year to suddenly say it didn’t agree, asked counsel for the Sahara group of companies at the Securities Appellate Tribunal (SAT) today.
The Confederation of Real Estate Developers’ Association of India (CREDAI) Friday urged the central government to introduce single window clearance and a uniform tax structure for the sector across the country.
China’s central government wants to weaken the industry’s vice-like grip on the political system as a means to avoid a Jasmine-type revolt.