Realty sector wants industry status in Union Budget
Property consultants and real estate developers have demanded industry status to the realty sector in the forthcoming Budget.
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Realty getting realistic with budget wish list
Come budget and the real estate sector, like any other industry, comes out with its own wish list. Unfortunately, while other organised industry get a patient hearing through their industry bodies, the Finance minister seem to be hardly entertaining the sector representatives till recently.
RBI asks banks not to overstate value of realty
The Reserve Bank of India (RBI) on Friday came hard on banks for overstating realisable value of real estate properties they finance by including charges such as stamp duty and other levies.
MCHI hails Govt. for not hiking Ready Reckoner rates
The Maharashtra Chamber of Housing Industry (MCHI) has thanked the Maharashtra Chief Minister for his assurance that the Ready Reckoner rates for real estate industry may not be increased in the New Year.
CRISIL finds tier-II cities more attractive for retail loan products
CRISIL Research expects tier II cities will be the demand drivers and lead finance penetration and entry of more players to drive faster growth in retail loans demand.
RBI warns banks on real estate valuation frauds
Alarmed by inflated valuations of real estate properties for the purpose of loans, the Reserve Bank of India has asked all banks to submit an action-taken report on the issue.
Budget has been neutral and industry friendly: Irfan Razack, CMD, Prestige Group
The budget speech indicated further progress on the Direct Tax Code (DTC) as well as the GST – both critical measures, which is a welcome move. Though, I feel that it would have been better for the industry if GST was also rolled out along with the DTC.
A tie budget; not won, not lost, say realtors
Real Estate developers across the country have termed the Union Budget 2011-12 as a tie cricket match which can’t be termed as won or lost. However, they are all unanimous that it is not a game changer budget for the sector.
Budget focused on common man: Sunil Mantri, President MCHI
Maharashtra Chambers of Housing Industry (MCHI), most prominent body of the real estate developers today described the Union Budget presented by the Finance Minister Pranab Mukherjee as “Budget with few positive steps focused on the common man who is interested in buying a house in rural and urban areas”.
Budget relying on inclusive growth for the ‘aam aadmi’ : Pranab Datta, VC & MD, Knight Frank India
The Budget is relying heavily on maintaining the trajectory of growth in the economy to provide solutions for inclusive growth that touch the ‘Aam Aadmi’ and parallelly stressing on governance aspects, which hopefully will be covered separately through concrete action plans to deal with the menace of unaccounted wealth. The trend for consolidation is expected to continue.