Blaming use of black money in real estate to archaic laws, India’s largest realty firm DLF has said Prime Minister Manmohan Singh’s emphasis on reduction of stamp duty will help in cleansing the sector.
The Association of Builders and Developers of Thrissur (ABD) will merge with the Confederation of Real Estate Developers’ Associations of India (CREDAI), the apex body for private real estate developers in India.
The Comptroller and Auditor General (CAG) said in a report released on Friday that the Income-Tax Department (I-T) understated claims on Pune-based businessman Hasan Ali.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
Terming stamp duties as a “big obstacle” in ensuring transparent transactions in real estate, Prime Minister Manmohan Singh on Friday batted for reducing such levies to check the flow of black money in the sector.
The concept of international, standardized luxury floor space must evolve further before India can absorb the demand. Developers must come up with more imaginative ideas of differentiating their luxury malls from the run-of-the-mill.
Global commercial real estate firm Jones Lang LaSalle has announced the firm is donating 100 million yen (approximately $1.25 million) to the Japanese Red Cross to provide aid and relief directly to those most in need following the Japan earthquake and Pacific Tsunami that have left a path of destruction in their wake.
With government support and increase in number of real estate developers, affordable housing demand will surge at a CAGR of around 13% during 2011-2013, says a research report by RNCOS a thinktank group on industry intelligence and creative solutions for contemporary business segments.
The impending closure of the financial year has the listed real estate developers scurrying to make final repayments or get debt refinanced.
Anil Wadhwa, Indian Ambassador to the Sultanate of Oman inaugurated the two-day India Property Show (IPRO 2011) today at Al Falaj Hotel.