RBI may increase bank provisions for commercial realty loans, potentially raising interest rates for builders.
CREDAI submits memorandum to Finance Ministry to remove service tax on under-construction housing complexes.
The urban development ministry calls for a review of the proposed service tax on housing projects, amidst concerns over its impact on the struggling real estate sector.
Real estate in India lacks a strong consumer movement and transparent investment guidance. The current price surge has shifted focus from need-based to profit-driven investments.
The real estate sector expresses concern over the newly imposed service tax on housing, urging the finance minister for reconsideration and better urban housing policies.
Nariman Point faces significant upheaval as the BMC increases taxes for building societies, raising rateable values by up to 10 times for several properties.
Karnataka introduces property cards to enhance clarity in realty transactions, replacing sale deed registration with property titles to reduce disputes and improve accountability.
The Financial Intelligence Unit is urging states to provide monthly data on all property registrations to enhance oversight of real estate transactions and combat illegal funding.
New real estate bill aims to protect homebuyers by regulating developers, ensuring project legitimacy and transparency through mandatory registration and approvals.
Homebuyers can now check if the land under their building is encumbrance-free after RBI's recent directive requiring builders to disclose mortgage status.
Direct Taxes Code proposes changes to taxation of house property income, shifting from potential to actual or presumptive rent, calculated as 6% of rateable value or acquisition cost.
RBI revises guidelines on banks' exposure to Commercial Real Estate, distinguishing between property-dependent and profit-dependent loans.
Builders face no penalties for late flat delivery if the contract lacks a specified completion date, a consumer commission ruled.
National Housing Bank aims to expand NHB Residex to all cities with a population of over one million by the end of next year.
Expert suggests Govt. setup institutional framework for real estate regulator to promote transparency & affordable housing.
RBI revises norms for loans to hotels and hospitals, excluding them from commercial real estate exposure. Provisions for commercial real estate reduced, but may increase.
Urban Development Minister Jaipal Reddy seeks additional package to reverse real estate sector slowdown. Proposes measures including rationalization of home loan interest rates and increased tax exemption on rental income.
India's proposed insurance sector liberalization aims to attract foreign investment, but challenges such as infrastructure and public competition remain significant.
The Comptroller and Auditor General (CAG) of India expands its scope to include public-private partnerships, environment and climate change, e-governance, social audit, and regulatory bodies. The CAG aims to modernize audit processes to address challenges posed by new organizational forms.
DIPP and RBI to meet over Lehman's $500M Indian real estate assets, exploring rules for repatriation of funds due to foreign investor bankruptcy.
A Supreme Court ruling allowing increased Floor Space Index for old buildings in South Mumbai opens redevelopment opportunities, potentially impacting property prices and infrastructure.
India's real estate sector is facing complexities and ambiguities related to indirect tax, including VAT and service tax on works contracts. The Supreme Court's ruling in the K Raheja Development Corporation case has further complicated taxation, potentially increasing the cost burden on new flat purchasers.
ED investigates potential Russian land mafia involvement in Goa's real estate between 2000-2007, seeking state government's assistance to scrutinize large-scale land acquisitions by Indian companies believed to front for illegal Russian ownership.
Twelve Pune real estate developers face scrutiny for falsely claiming Rs 65 crore in tax waivers on low-cost housing schemes. The Income Tax department plans to issue notices, impacting tax collections amidst a market slowdown.
Foreign investment in India's real estate grows, despite recent regulatory challenges. Investors eyeing second-tier cities for deals. Minimum project area, capitalization, and time constraints are highlighted.
