Track2Realty-Agencies: Realty firms and property consultants have expressed disappointment over RBI’s decision to keep key policy rate unchanged and said it was the right time to bring down the borrowing cost for home buyers as well as developers.
Track2Realty-Agencies: The Finance Ministry is considering a proposal to relax funding norms for the realty sector so that good housing projects are not starved of funds.
To protest against the decision of the Union Government to allow FDI in multi-brand retail, the Confederation of All India Traders(CAIT) and Bharat Udyog Vyapar Mandal have called for a Bharat Trade Bandh on 20th September,2012 in which they claim that about 5 crore traders and more than 10 thousand trade associations across the Country will participate.The Traders have appealed all national and regional political parties to extend their support to Bharat Trade Bandh call.
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.
Pointing out that real estate development can revive the sagging economy, developers’ apex body CREDAI has called for launching a mission to make India Housing Surplus from the current status of a housing deficit nation by 2020.
Being blamed for being a haven for black money cartel, realty players broke their silence and instead tried to put the blame on the government for not introducing the desired reforms in the sector. However, they did not spell out if reforms are prerequisite to check the cartel of black money in the sector, why are they opposing the realty bill and a regulator.
A White Paper on black money tabled in Parliament on Monday, May 21, has named real estate among others as most vulnerable to menace of black money. Given that land is part of the top black money generators, the white paper suggested that states could consider taxing farm income to curb black money.
When the Reserve Bank of India (RBI) was to announce its annual monetary policy for 2012-13 on 17th April, there were widespread concerns of slowing economy, rising inflation, trade deficit of 4 per cent of GDP and drying FDI too emerging as a grace concerns
DLF Brands, a subsidiary of DLF Ltd, has aggressive plans to expand its retail business by introducing more international brands into India, besides opening at least 50 new outlets every year in the country.
The Union Budget 2012-13 has left the Indian real estate sector grope with the indecision yet again and everyone is wondering whether the Finance Minister’s offer is glass half full or half empty for them.