“For the real estate and housing sector, this years’ budget has exceeded expectations given the pressure on fiscal situation. Most importantly, it has taken into account the crying need to focus on affordable housing sector by allowing ECB for low cost housing, road as well as construction. Withholding tax on ECBs for affordable housing has been reduced from 20% to 5% for 3 years and this move will help ease the liquidity in the sector.
It has been a difficult market to be in as a developer. Rising interest rates have impacted the customer interest in new properties moderating the flow of new funds and in addition to that high inflation and rising commodity prices have increased substantially the delivery cost for existing projects.
Fearing share price manipulation with the help of certain ‘independent’ research reports onIndian companies, market watchdog Sebi may soon bring all kinds of research analysts under its regulatory ambit.
Terming RBI’s decision to reduce cash reserve ratio (CRR) as a “positive step”, the industry body Confederation of Real Estate Developers’ Association (CREDAI) said on Friday, march 9, the move would enable financial institutions to fund real estate projects.
While many of the Indian cities are reeling under the apprehension of slowdown with sales nosediving, Pune real estate has defied any such apprehensions.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone’s lip, Bangalore registered both healthy transaction as well as upward price movement.
Mumbai continues to be the costliest property market in India but the sales graph show this value has started taking its toll on the volume. Property registration in India’s biggest real estate market continued its slide and in September recorded a 29-month low at 4,137, down 22 per cent year-on-year.
Vibrant cities for vibrant economy-II By: Track2Media Intellisearch Delhi-NCR has…
Godrej Properties Limited, the real estate arm of the Godrej Group, is planning to raise Rs 500-600 crore through the institutional placement programme (IPP). The move is aimed at reducing its outstanding debt, which is around Rs 2,000 crore.
The Mumbai-based Godrej Properties, the real estate development arm of the Godrej Group, announced on Friday, Feb 10, the launch of its first residential project, Godrej Palm Grove, in Chennai.