Track2Realty-Agencies: Canada-based NRI billionaire, Bob Dhillon is considering investing up to $100 million (about Rs 540 crore) in the Indian real estate market and is planning to approach the Haryana Government for developing a township near Chandigarh.
Track2Realty-Agencies: Realtors have sought to bring up incentives like free land allocation and public-private partnerships models to increase affordable housing stocks for the economically weaker sections.
Track2Realty: Andhra Pradesh may become the first state to grant much-demanded single window clearance to realty projects. Andhra Pradesh Chief Minister N. Kiran Kumar Reddy has said his government will further simplify procedures and extend incentives to the real state sector if they ensure self-regulation and pass on benefits to consumers.
Track2Realty: Calling for an end to a series of windows of corruption, developer apex body CREDAI has suggested the proposed Realty Regulator should also work for minimizing the human interface in the process of granting clearances and registrations.
Track2Realty-Agencies: The Union Government will push the states to give bankable property rights to urban slum dwellers and is in the process of creating a legislation for the same, said the newly-appointed Minister of Housing and Urban Poverty Alleviation Ajay Maken.
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: Mumbai-based developers will have to finally pay 5 per cent Value Added Tax (VAT) to the Maharashtra Government. The Bombay High Court has dismissed a petition filed by MCHI-CREDAI that challenged the levy.
Track2Realty: The first three quarters of 2012 witnessed a fall in the quantum of private equity investments in the real estate sector. The private equity investments is recorded at INR 35 billion which is approximately 15% lower than same period last year. The total number of private equity transactions till date in 2012 is 23, marginally lower when compared to same period last year. These are the findings of the latest Investment market report from real estate consultancy Cushman & Wakefield, India.
Track2Realty-Agencies: The Union Cabinet on Thursday, Oct 25, once again deferred the Real Estate (regulation and development) Bill pending for approval since May last year.
Track2Realty-Agencies: Robert Vadra was on Friday, Oct 26, given a clean chit by the Haryana government in the controversial land deals involving him in the state after an official probe concluded that there was no “undervaluation” or loss of revenue to the government.