The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
Service Tax Commissioner Sushil Solanki has clarified that developers will have to file their service tax returns.
The Government has asked private real estate developers to participate in creating affordable housing stock and help in making India slum-free.
Retail chains across the country are signing up for space in a big way, after a long pause that had followed the economic downturn.
The south Indian hospitality market would see an addition of 14,500 new rooms in 178 star hotels across southern states by the end of year 2012.
CREDAI, Hyderabad has given a number of suggestions, including developing townships in the peripheral areas, strengthening the transportation system, to help the GHMC fine-tune the proposed master plan.
Punjab’s first planned eco city, christened New Chandigarh by the State Government, has started to buzz with the major real estate developers and housing societies.
Union minister for housing and urban poverty alleviation Kumari Selja has said that the Centre is expected to bring the real estate regulator bill in the winter session.
The Maharashtra Chamber of Housing Industry (MCHI) has welcomed Chief Minister Prithviraj Chavan’s move to ensure sale of residential property by carpet area.
Foreign direct investment (FDI) in the real-estate sector last year was the lowest in four years, but private equity activity gained momentum during the recent months, according to a study by an Indian industry chamber and a global accountancy firm.