News articles tagged Service Tax

Real Estate Sector Wants FM To Lower Costs Of Finance

Indian real estate players anticipate the Finance Minister's budget to lower construction finance costs, boost the sector, enable affordable housing, and expedite project clearances.

Housing Segment Needs Infrastructure Status: NAREDCO Demands

NAREDCO urges the government to grant infrastructure status to the entire housing sector to gain tax benefits and stimulate housing demand.

Economy and Realty for the Month of March 2012.

The report outlines Chennai's real estate market dynamics, emphasizing service tax changes, ECB, and a projected influx of 67,500 residential units within three years.

Realty Sector in Disappointment

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.

Union Budget 2012-13: Buying or building of a house will cost more.

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.

Builders say that Pranab Mukherjee has ignored ground realty in the Union Budget 2012-13.

Realty leaders express disappointment over budget allocations for housing, calling for stronger support for affordable housing initiatives.

Realty sector seeks affordability from the government.

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.

Real Estate Prices To Increase

India's real estate prices expected to rise further as Finance Ministry retains 2.5% service tax on under-construction projects, impacting homebuyers.

CREDAI Report on Application of Service Tax

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.

What Should the Buyers do?

Apartment buyers face additional burden with service tax on under-construction residential projects, developers demand buyers to pay.

Realty Sector Urges FM To Revisit Budget

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.

Comeback Of Realty

Residential markets in major Indian cities like Mumbai and NCR saw significant value appreciation in late 2009, driven by an economic slowdown that favored affordable housing.

Truth Behind Declining Realty

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.

Real Estate And Construction

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.