Track2Realty-Agencies: Real estate players and analysts on Tuesday welcomed the Reserve Bank’s move to cut short-term lending rates, but said that more such steps are needed to bring growth back to the sector.
Track2Realty-Agencies: The Finance Ministry is considering a proposal to relax funding norms for the realty sector so that good housing projects are not starved of funds.
The government has said “no specific instance” of flow of terror funds into the real estate sector has come to its notice. “As per the current assessment of revenue intelligence agencies…no specific instance of flow of terror funds into the real estate sector has been found,” Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha. However, he said, “investigations by the Income Tax Department reveal unaccounted or undisclosed income or assets in various sectors of the economy, including real estate.”
The festival of Diwali has a direct bearing on the property market, and irrespective of the overall macro economic scenario the property transactions around this time of the year have been the maximum.
In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
Real estate industry body CREDAI on Saturday, September 3, opposed constitution of a regulatory body for the real estate sector, saying that it would become a “breeding ground for corruption” if implemented.
The Noida Extension has snowballed into controversy which could have been better avoided.
A prominent group in Singapore plans to act as a facilitator to bring in China’s savings into the Indian economy and other South Asian countries.
Real estate and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.
Equity capital inflows touched USD 8.9 billion between January and September, registering a 46% Y-o-Y growth. The strong momentum in deal volume continued, with about 200 deals reported during this period, compared to 151 deals in the same period last year. The average deal size also increased to nearly USD 45 million in the first nine months of 2024 from about USD 36 million in 2023. Mid-sized deals, ranging between USD 10-50 million, represented 56% of the total investment inflows during this period.