The Maharashtra Chamber of Housing Industry today welcomed the new FSI guidelines proposed by Brihanmumbai Municipal Corporation Commissioner Subodh Kumar as a consumer friendly move.
Several realty firms, including Parsvnath, Juventus Builders and Developers, Alok Infrastructure, Oval Developers, Airmid Developers and NG Realty have sought the Government’s nod to shelve their SEZ projects amid continued tax uncertainties.
The Indian Property Show opened at Dubai World Trade Center, Hall No.4.
Wetlands are under severe threat from the real estate lobby and industry as they are easy to lease out, Environment Minister Jairam Ramesh said in Ahmedabad on Wednesday.
Pune-based Phadnis Group is planning to invest Rs.800 crore in diverse sectors including real estate, hospitality and infrastructure in the next three years.
The 31 tenants in the Sara and Sahara shopping centres, which are allegedly owned by underworld don Dawood Ibrahim, will have to vacate the premises.
Aanya Real Estate and Luxora Realty jointly are coming up with a green initiative in Nagpur, there are row houses, sky villas, cottages, Olympics sports training center, Schools, Hospitals, Praying Center, thus creating a lifestyle living environment in Nagpur and attracting consumers across India.
“Reduction in taxes and flexibility in approval process will provide affordable homes to the masses. If these two elements are addressed by the government, selling price of the homes will be reduced by at least 33%,” said Lalit Kumar Jain, President of CREDAI.
Indian buyers usually pay for apartments before construction has been completed. Many buyers do not take out mortgage loans (the ratio of housing loans to GDP is less than 5% in India).
Real estate developers are trying to change perceptions. A new team of office bearers which took charge at the Confederation of Real Estate Developers’ Associations of India (CREDAI) has announced to work on a set of measures that will help builders deliver projects on time, redress customer grievances and improve governance to change image and perception of the sector.