The Central Government is set to relax FDI norms for the real estate sector, which includes reducing the lock-in period and minimum capitalization to attract investments and make housing more affordable.
Karnataka Government to issue all-in-one property cards in Bangalore. The initiative aims to streamline property documentation and reduce fraud.
SEBI has cautioned investors against dubious collective investment schemes (CIS), particularly those run by MPS Greenery Developers and Rose Valley Real Estate and Construction.
West Bengal's new property tax proposal faces criticism from CREDAI Bengal, citing increased transaction costs and negative impacts on the real estate sector due to inflated property valuations.
Finance ministry officials and RBI plan to meet to discuss relaxing external commercial borrowing norms to enhance affordable housing projects in India.
The Supreme Court has halted proceedings regarding Sahara firms' pleas as it reviews SEBI's request, transferring all related cases to itself.
SEBI files petition with Supreme Court to hear all cases against Sahara firms and its chief, seeking to transfer cases from other courts and prevent further entertaining of applications by the firms.
PMC postpones proposal to reduce property tax discount from 10% to 5% for 2 months
SC asks Sahara firms & Subrata Roy to reply to SEBI's contempt petition within a week, regarding non-repayment of ₹24,000 Cr to investors.
The Land Acquisition Bill, after several amendments including a 50% compensation for landowners, has received consensus from all parties. However, developers and industry experts fear it will adversely impact the affordable housing sector.
The Delhi-NCR region is considering mandatory green norms for plot development to ensure eco-friendly construction practices among homeowners.
Gujarat's state government will launch a comprehensive new housing policy aimed at urban areas, including slum rehabilitation and affordable housing development within a month.
HUDA removes construction deadlines for residential and commercial plots, allowing allottees to build based on financial stability. Extension fees apply after 12 years, with variations for plot sizes and commercial properties.
A seven-story building collapsed in Thane, killing 74 people. Arrests were made, revealing deep corruption within the real estate sector involving bribery of civic officials.
The housing ministry intends to introduce a real estate regulator to curb sector illegalities. The bill, aimed at safeguarding buyers, defines carpet area and mandates project registration.
Noida and Greater Noida authorities caution defaulting developers to clear dues or face consequences, impacting flat registrations and home buyers due to financial crunch.
Experts warn that proposed VAT increase in Kerala's 2013 budget could lead to higher construction material costs, impacting overall property prices in the real estate sector.
BMC extends property tax deadline by three months in Mumbai. Citizens protested against the new capital value-based system, citing high tax burdens and the inclusion of dues from previous years.
A proposed 1% TDS on homes exceeding Rs. 50 lakh, outlined in Budget 2013, is set to take effect in June, potentially impacting luxury housing sales.
Mumbai residents protest BMC's new property tax policy based on capital value, citing disparities and demanding a return to the old system.
Government panel recommends single-window clearance to expedite real estate projects, aiming to reduce delays and potentially stabilize property prices.
The CMDA has authorized the conversion of industrial land in Guindy to residential use, potentially attracting developers amidst rising property prices.
Maharashtra government introduces e-payment of stamp duty for property transactions exceeding ₹5000, streamlining the process and enhancing security. The initiative begins in Mumbai and Pune.
The all-party meet failed to reach a consensus on the land acquisition bill, impacting farmers awaiting compensation and delaying infrastructure projects. Opposition parties strongly opposed the bill, despite government efforts to expedite its passage for economic boost.
The Union Budget 2013-14 provided minimal direct support to the real estate sector, addressing affordable housing slightly and impacting the luxury segment negatively.
