Page 50 - Real Estate

Realtors seek tax sops, industry & infra status for sector in Budget

Real estate developers expect the government to provide industry as well as infrastructure status for the sector, increase the corpus of Rs 25,000-crore stress fund, and more tax sops for both homebuyers and builders in the upcoming Budget to boost property demand. They also hope for single-window clearance for projects, measures to boost liquidity, reduction in the GST rates and availability of input tax credit on the GST paid in the Budget 2021-22, which will be presented on February 1. "We sincerely hope that Budget 2021 brings some much-needed relief to homebuyers as well as developers," Tata Realty and Infrastructure MD & CEO Sanjay Dutt said. As the sector's growth relies heavily on the upcoming financial amendments, he said the government should grant industry status to the real estate sector and a single-window clearance mechanism for faster completion of projects. "One GST, one or no stamp duty regime and reduction in registration charges across states are some of the ...

India's real estate market sentiment at three-year high, shows data

The current sentiments are in the positive zone boosted by pick up in demand for both residential units and office space

Home sales at pre-Covid level; overall sentiment optimistic: Knight Frank

The residential segment outlook, according to the survey findings, was supported by pent-up demand, multi-decadal low home loan interest rates, and attractive residential prices

Delhi-NCR has most stuck housing units at 190,000 worth nearly Rs 1.2 trn

The units were delayed by at least seven years, according to property consultant Anarock

Budget: Realtors expect subvention scheme, measures to boost demand

The housing market is reviving from the lows hit last year

Realty sector seeks GST waiver, personal tax relief in Union Budget 2021

The real estate sector wants stimulus in the form of sops in the upcoming Union Budget to boost housing demand, a top Credai Bengal official said

Delhi High Court serves notice on govt, GST Council in real estate case

As such, the prima facie evidence as required under the anti-profiteering provisions of the CGST Act does not exist, according to the petitioner.

Emaar India chief executive officer Ajay Munot steps down

Munot has resigned from the company to pursue his personal interest

Average apartment size in the top 7 cities grows 10% in 2020: Report

The year 2017 saw the maximum decline. Apartment size fell from an average of 1,440 sq. ft in 2016 to 1,260 sq. ft in 2017

PE investments in real estate down 40% at $4.06 billion in 2020

The pandemic played spoilsport

NCLT agrees to hear plea alleging mismanagement in real estate firm Omaxe

The National Company Law Tribunal (NCLT) has agreed to hear a petition filed against Omaxe Ltd alleging oppression and mismanagement in the affairs of the Delhi-based real estate firm. Terming the matter as "exceptional" and having "compelling circumstances" against the realty firm, a two-member Chandigarh-based NCLT bench has granted the waiver in the filing criteria under Section 244 of the Companies Act, over the plea filed by the Omaxe former joint managing director Sunil Goel and his wife. The tribunal observed that the applicants including Sunil Goel are the shareholders, promoters and were directors of Omaxe Ltd and also have considerable shareholding and interest in its holding company Guild Builders. Moreover, none of the members of Omaxe is eligible to file an application under Section 241 of the Companies Act, 2013 against the company over the allegations of oppression against minority shareholders. While granting the waiver, NCLT observed that individually, the petition

Housing sales in October-December jump 25% across seven cities

The rise was helped by pent up and festive demand, according to data analytic firm PropEquity

Labour turns to agri, construction as manufacturing fails to create jobs

Manufacturing accounted for 40 million jobs in 2019-20. In the first quarter this dropped to 24.6 million, implying a loss of over 15 million manufacturing jobs

Godrej announces first close of $500 million office development platform

This is the 3rd India focused office venture and 5th overall, sponsored by GFM

New launches pick up, but home sales yet to revive amid Covid-19 pandemic

New launches bounced back - registering 12 per cent growth in the October-December quarter.

Banks vote in favour of Piramal offer for DHFL, see holes in Oaktree bid

With this Piramal succeeds in getting the requisite 66 per cent voting, says source

Strike a deal quickly as home prices likely to head north in 2021

A recent report from Jefferies says a new cycle could begin this year as both end users and investors reenter the market

Budget: One-time recast to tax sops, slew of measures in realty wish list

NAREDCO has sought removal of the Rs 2 lakh limit on income tax deduction on housing loan interest.

DLF-Hines JV to invest Rs 1,300 cr on construction of Gurugram project

Realty major DLF and US-based Hines will invest around Rs 1,300 crore to construct the first phase of a premium commercial project, largely office space, in Gurugram, a senior company official said.

NCR residential sales grow 43% in Oct-Dec on festive discounts: JLL

The National Capital Region (NCR) witnessed a quarter-on-quarter growth of 43 per cent in the sale of housing units during the October-December period