Delhi government restricts property transactions to registered deeds only, banning General Power of Attorney (GPA) sales based on a Supreme Court order.
India's Real Estate Regulation Bill delayed, key changes made to draft, including reduced area size for compulsory registration
West Bengal government proposes amendment to ULCA, requiring developers to reserve 30% of apartments for low-income groups.
CREDAI criticizes BDA's redefined "apartment" and "group housing," citing vagueness and potential harassment for homeowners in Bhubaneswar.
Income Tax Offices Open on March 31, 2012 for Year-End Rush
A prosecution witness in the 2G spectrum case testified that real estate firms were not barred from applying for UAS licenses, and Parsvnath Developers' application was rejected.
Real estate developers clash with Maharashtra government over mandatory 20% EWS housing reservation in new projects.
The recent budget allows external borrowing for low-cost housing, improving funding availability, but still falls short of the real estate sector's wider expectations.
Economic Survey acknowledges services sector significance but raises concerns, suggesting phased FDI retail approach in metros, potentially with a lower cap.
1% TDS proposed on property transfers exceeding ₹50 lakh in urban areas and ₹20 lakh elsewhere, effective October 1. The move aims to curb unaccounted money.
Real estate experts anticipate rising costs for home purchases and construction due to increased material prices and a 2% service tax hike, impacting buyers and developers alike.
The real estate sector anticipates favorable changes in the Union Budget 2012-13, including increased loan subsidies for affordable housing and enhanced FDI regulations.
Union Budget 2012 expected to provide policy reforms for the real estate sector, with calls for industry status and affordable housing measures.
Chennai Realtors Seek Enhanced Tax Exemption to Boost Real Estate Market
Real estate developers anticipate Union Budget 2012 to bring pragmatic provisions, including increased infrastructure funds for housing and removal of service tax on residential construction.
The state government will implement its affordable housing policy on April 15, requiring builders to reserve 20% of land for small-sized housing, despite some reservations.
The BJP critiques the draft Land Acquisition Bill, advocating for farmers' rights to land ownership and suggesting lease agreements over outright acquisition.
Supreme Court's decision on Greater Noida land case sends shockwaves among buyers and developers. Future of over 6,000 buyers uncertain as projects are halted.
Sahara Group challenges SEBI's order to return investor funds with 15% interest. The case will be heard on July 4, 2011. Sahara criticizes SEBI for publicizing the order.
The Income Tax Department is investigating real estate deals in New Delhi to combat black money and tax evasion. They will scrutinize developer funding and individual transactions.
India's revised Direct Tax Code (DTC), effective 2011, simplifies income tax laws, impacting real estate. Key changes include taxing actual rental income and retaining home loan interest deductions up to ₹1.5 lakhs.
Ghaziabad traders protested against proposed house tax hikes, emphasizing that tax policies should be distinctly categorized as either residential or commercial.
India's real estate prices expected to rise further as Finance Ministry retains 2.5% service tax on under-construction projects, impacting homebuyers.
RBI & DIPP to regulate Real Estate Firms' access to External Commercial Borrowings (ECBs) with stricter norms, citing misuse concerns.
CREDAI warns that property prices may rise by 2.5% due to the new service tax implemented from July 1, 2010, which will ultimately burden buyers.
