In a bid to boost housing sector credit, the Indian government is contemplating to enhance the income-tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh.
When the Reserve bank of India was announcing the CRR rate cut by 50 base points, the house wife Sugnadha Dubey, glued to TV news channels, couldn’t resist the temptation to call up her husband to know whether the EMI burden on this middle class home owner is going to ease out from next month. With no background of the world of financial jargon, her husband could only assure her with a wishful thinking.
Once a happy hunting ground, real estate sector has suddenly woken up to the reality that raising money through Initial Public Offerings (IPOs) is getting harder with investors being lot more discerning today.
While the piling debt of the listed real estate companies has hit the headlines throughout the year 2011, the debt of the unlisted realty companies today stands at Rs.15 trillion.
Eight realty stocks slipped 0.75% to 4.61% on Friday, August 26, at 14:43 IST on BSE on worries higher interest rates could dent demand for residential and commercial property.
India’s top listed real estate developer DLF Ltd missed analysts’ estimates with a 19 percent fall in quarterly profit due to cost rises.
Despite the continuing turbulence and uncertainty in other parts of the globe, two economies – India and China – will continue to grow at an annual rate of 8-10%.
The Bombay Stock Exchange on Monday said that it has excluded Indiabulls Real Estate Ltd from both the BSE 100 and BSE 200 indices and replaced it with Coal India.
Real estate and investment management services provider Jones Lang Lasalle Inc. on Thursday announced its foray into South Africa with the acquisition of corporate property service provider, Bradford McCormack & Associates for an undisclosed amount.
India’s housing shortfall is estimated to be around 27 million and Chennai city alone faces a deficit of 60,000 housing units.