CBDT to come out with accounting norms for real estate
The Revenue department on Thursday, Sep 6, said it will soon come out with accounting standards for the real estate sector to bring about uniformity in reporting of financial results.
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Mumbai’s prime office rates continue to rise despite depressed market
With overall vacancy increasing and business and investor sentiment low, why are office rents in many micro markets in Mumbai still increasing? In the recent past, many corporate decision makers have been wondering aloud why the rents and capital values in markets such as Lower Parel and BKC have risen in the last 4-5 months.
Can meat & eggs offered to God resolve realty crisis?
Can meat & eggs offered to God resolve realty crisis? Well, the real estate community in Coimbatore thinks so. More than 1000 members of the real estate sector, including key promoters, sought diving intervention on Wednesday, Sep 5, to bail them out of the crisis they were in, caused by decreasing demand and prices.
Real Estate Bill sent to Law Ministry
The Real Estate Regulation and Development Bill, 2012, has been sent to the Ministry of Law and Justice for vetting, after which it will be moved to Cabinet.
PE investments in realty sector become selective: C&W
Realty sector in India has witnessed more than $2-billion private equity investments in the last 12 months, with investors treading cautiously, according to real estate consultancy Cushman & Wakefield.
No letup in global housing market downturn; European crisis worsening, says Global Property Guide
No end to the global housing market downturn is in sight, except probably in the US, according to a survey of global house price trends by the Global Property Guide Asia is weakening, and house price falls in the worst-hit European crisis countries are dramatically accelerating.
Delay in flat transfer hits Himachal real estate
Himachal Pradesh has spiked plans of over 60 builders and developers to sell flats and cottages in the hill state. The developers include DLF, Janta Land Promoter Ltd, Omaxe Construction Pvt Ltd, Optima Construction Pvt Ltd, Amar Nath Aggarwal Builders Pvt Ltd and Surya Builders, according to officials.
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.
Regularisation of Delhi’s illegal colonies
The Centre has responded positively to the Delhi Government’s appeal to regularise more than 1600 of the city’s unauthorised colonies. However, the truth is that even after this notification, the ground reality in that these colonies are unlikely to change for now.
Sahara Group clarifies after Supreme Court verdict
The Sahara Group has clarified their stand in public after the jolt by the Supreme Court asking them to refund within three months Rs. 24,029 crore it had collected between 2008 and 2011 from over 2.96 crore investors, flouting mandatory regulatory provisions and the Company Act. In the wake of media onslaught after the Court asked two Sahara Companies to pay 15% interest on the amount, the Group in a statement has following version in its defence.