Come budget and the real estate sector, like any other industry, comes out with its own wish list. Unfortunately, while other organised industry get a patient hearing through their industry bodies, the Finance minister seem to be hardly entertaining the sector representatives till recently.
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.
High real estate costs, lack of any tax incentive and bureaucratic hurdles are huge problems for the growth of the hospitality industry that is one of the country’s top job earners, a survey has revealed.
Immediately after Ahmedabad-based power, port and mining company Adani Enterprises Ltd (AEL) decided to part with its real estate business a day ago, the Adani family clarified that they are keen on retaining Adani Infrastructure Development Pvt Ltd (AIDPL).
Purvankara Projects has recorded 31% increase in consolidated revenues to INR 5,825 Million for the 9-month period ended 31 December 2011 compared to INR 4,440 Million for the nine-month period ended 31 December 2010.
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.
Analysts are worried and do not see a rosy picture ahead in 2012. According to them real estate companies planning IPOs in 2012 may experience a lack of enthusiasm on the part of investors.
With the real estate industry facing a shortage of skilled manpower, the Confederation of Real Estate Developers’ Association of India (CREDAI) has launched a skill development programme in Pune.
With the market set to bottom by out by the second quarter of 2012, we will see the beginning of a recovery in the city’s residential real estate fortunes by the second half of the year.
The Indian real estate sector has grown rapidly over the last few years, with its stakeholder profile evolving from locally-focused, privately-owned enterprises to increasingly corporatized, professional organizations funded with public capital and having multiple market and product strategies.