Surging growth in emerging markets such as China and India will boost demand for real estate, although uncertainties such as an oil shock could pose major risks, economist Nouriel Roubini said on Thursday.
BNP Paribas has raised its ratings on Indian real estate developers, citing a discounted value and improving outlook.
Minister of Housing and Urban Poverty Alleviation Kumari Selja said in the Rajya Sabha the Real Estate (Regulation of Development) Bill is still being deliberated.
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.
India has the third highest taxation burden in the world when it comes to selling commercial property, after Norway and Malta, according to a study conducted by Taxand, an independent global tax advisory.
Confederation of Real Estate Developers’ Associations (CREDAI) Tamil Nadu unit has said that enquires for commercial real estate property has picked up in the last couple of months following decent growth in the IT industry.
Pune-based real estate developer Hasan Ali Khan, who was arrested on late Monday night by the Enforcement Directorate, was remanded by the sessions court to ED’s custody on Tuesday. Khan was kept at JJ Hospital for most part of the day, as he complained of high blood pressure.
The Supreme Court on Tuesday mulled invoking terror and other stringent penal charges against Pune realtor and stud owner Hasan Ali Khan, accused of massive money laundering and tax evasion, for his alleged links with arm dealers and people linked to terror activities.
Suspecting the use of black money to finance deals in the country’s booming real estate sector, the Income Tax Department is keeping close tabs on the sources of funding for developers’ lucrative projects.
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).