Budget 2012-13 proposes external commercial borrowing for affordable housing, a Credit Guarantee Trust Fund, and increased Rural Housing Fund provisions. Real estate players express disappointment, citing increased costs from the cement industry tax and service tax hike.
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.
Realty leaders express disappointment over budget allocations for housing, calling for stronger support for affordable housing initiatives.
The real estate sector anticipates favorable changes in the Union Budget 2012-13, including increased loan subsidies for affordable housing and enhanced FDI regulations.
Chennai Realtors Seek Enhanced Tax Exemption to Boost Real Estate Market
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.
Noida Extension developers to refund buyers with interest, offer alternative projects
Mangalore real estate firms commit to booking prices despite rising costs and dipping ROI.
RBI's interest rate hike impacts real estate, increasing construction costs and home loan rates. Developers face a cash crunch, while potential homebuyers confront rising borrowing expenses.
CREDAI presented an action plan to address corruption in the real estate sector to the Union Urban Development Minister. They highlighted the damaging impact of corrupt practices on the industry's reputation and called for government support in streamlining approvals and reducing delays.
CREDAI introduces a new transparency system for Chhattisgarh real estate developers, focusing on clear dealings, consumer redressal, and adherence to a code of conduct.
Despite an expected rate hike by RBI, home buying remains robust, with developers expressing confidence in residential sales as buyers seek to invest before potential price increases.
A recent CREDAI workshop in Mangalore, led by Minister Krishna J Palemar, addressed illegal construction and the need for more parking areas and road expansion.
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.
CREDAI's Visakhapatnam chapter introduces a code of conduct aimed at mediating disputes between builders and buyers while ensuring adherence to established guidelines.
MCHI is hosting the 13th India Realty Expo in Dubai from June 3rd-5th, 2010, to showcase Indian real estate opportunities to NRIs, featuring properties in cities like Mumbai, Pune, Goa, and Bangalore.
CREDAI submits memorandum to Finance Ministry to remove service tax on under-construction housing complexes.
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.
New real estate bill aims to protect homebuyers by regulating developers, ensuring project legitimacy and transparency through mandatory registration and approvals.
CREDAI reports growth in residential & commercial real estate sectors, driven by affordable housing & reduced home loan rates, with a 60% increase in March.
RBI's rate cuts and government stimulus aim to revive the housing market, but developers say more is needed to address credit flow challenges.
CREDAI to meet RBI Governor, seeking lower interest rates and debt restructuring for struggling real estate sector.
Indian real estate companies resist government pressure to lower prices, citing high taxes and low demand. Developers believe reducing interest rates is key to reviving the market.
Finance Minister P Chidambaram assured real estate developers that the government will encourage banks to boost lending and lower interest rates for affordable housing.
Naredco and Credai have urged the government to ease foreign investment norms and modify regulations to boost funding for ongoing real estate projects amid a credit squeeze.