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.
The revised Direct Tax Code draft released on June 15 aims to simplify income tax laws, affecting short-term and long-term capital gains, rental income, and home loan interest rates.
CREDAI's Visakhapatnam chapter introduces a code of conduct aimed at mediating disputes between builders and buyers while ensuring adherence to established guidelines.
Delhi Govt cracks down on illegal constructions, targets unauthorized colonies and vows to punish both guilty parties and negligent officials.
RBI restricts Urban Co-operative Banks' real estate exposure to 15% of total deposits, impacting commercial and housing loans.
The Competition Commission of India is addressing malpractices in real estate, focusing on misleading advertisements and consumer complaints against developers.
The Reserve Bank of India plans to create indices for commercial and residential properties in Ahmedabad to manage speculation and realty bubble risks.
Apartment buyers face additional burden with service tax on under-construction residential projects, developers demand buyers to pay.
