After house tax, the Haryana Cabinet has reportedly targeted real estate sector in the state by approving the proposal of the department of town and country planning to increase the licence fee for residential plots, group housing and industrial colonies. Details of the increased rates shall be notified in the next couple of days, officials in the department of town and country planning said.
Owing to global issues, liquidity is becoming a problem. Though the phase is temporarily, the concern cannot be ruled out. Indian real estate sector is banking on the fact that change will take place and market will come out of the situation.
Our reaction to Union Budget 2012-13 is mixed at best. It seems fair to state that the Indian real estate sector does not have much to cheer about.
What is in store for the real estate sector in 2012 remains the biggest question. Knight Frank believes in terms of the residential segment, the deadlock between the buyers and developers should break in favour of buyers.
Investment in real estate sector in Punjab may slow down due to Assembly elections in the early part of next year, a senior official of DLF India said in Chandigarh.
The Malaysia’s Selangor State Development Corporation (PKNS) has forayed into India’s real estate sector and is close to concluding a deal with a leading developer to build affordable houses in Mumbai.
Real estate developers have called upon potential buyers in Doha to take advantage of recessionary trends in the global economy and make investments in the real estate sector of growing economies like India.
The real estate sector in Pune has taken the Reserve Bank of India’s (RBI) announcement to increase the repo rates in their stride without much cribbing.
Even as the real estate sector is gradually slowing down as far as retail sales are concerned, Tata Housing, the real estate arm of the Tata Group, is consolidating its position.
With the emergence of Gujarat real estate sector on the realty map of India, the state’s real estate developers have also got recognition at the national level. Jaxay Shah, director of Savvy Infrastructure, has been elected as the new vice-president of Confederation of Real Estate Developers’ Association of India (CREDAI).