Emmar Properties reshuffles board, raises members strength
In a major reshuffle, Dubai-based real estate developer Emaar Properties on Monday recommended a new board increasing the strength of members to 11 from the present eight.
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India needs trillion dollar investment in urbanization
The rate at which economy is growing our urban centers shall add at least 100 million people by year 2020 merely on the account of urbanization. To provide housing to so many people India needs to invest a trillion dollars over the next 10 years. This is equivalent to 80 times our education budget allocation for year 2011-12.
Union Budget has exceeded the expectations
“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.
Economic Survey: Housing sector’s share in GDP of India to rise to 6%
The share of housing sector to the overall GDP (gross domestic product) is likely to rise by one per cent to 6 per cent on increased investment.
Need to distinguish between land acquisition and land purchase
The recently tabled Land Acquisition, Rehabilitation & Resettlement Bill, 2011 in Parliament is meant to replace the 117-year-old Land Acquisition Bill of 1894.
Tata Housing launches its retail brand GoodLife
Tata Housing has launched its first pan-India retail brand – GoodLife, specially designed to bring mall culture to urban localities where there are no malls.
SEBI for checks on ‘independent’ research analysts
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.
Banking, Finance & IT catalytic to SME clusters growth
Realtors who are in the business of developing SME clusters believe in recent years, the metro cities have also seen a good increase in SMEs, which have catapulted themselves into mid- to large sizes within 3 to four years.
Tata Housing bids to buy US consulate buildings
Tata housing has bid to buy US consulate buildings in Mumbai, according to the sources close to the development. “Negotiations are at an advanced stage and the deal is expected to be concluded in less than a month,” said the source.
Budget must reduce interest rate to increase housing demand
What Government can look at is to increase the demand and continue interest reduction in housing or enhance the deduction limit. Government can also provide special tax incentives for budget housing.