Realty News
The Madras high court, in a recent order, has held that the restrictive provisions introduced in the Income Tax (I-T) Act, which call for reinvestment in only `one’ residential house in India for claiming capital gains tax exemption, apply from fiscal April 1, 2014. The explanatory memorandum to the Finance Bill, 2014, had clarified that [...] Continue Reading »
For a Government that rode to power on sky-high expectations, the first 100 days are almost akin to the first week box office collections of a Bollywood blockbuster. Because that’s when impressions are made and word-of mouth spreads, giving an inkling of what lays ahead – a hit or a flop. For Indian industry, troubled [...] Continue Reading »
Environment minister Prakash Javadekar on Tuesday said online submission of applications for environmental and forest clearances and online monitoring has helped ease the process a lot, cutting delays to a great extent. Outlining the ministry’s achievements in the first 100 days of his being at the helm, the minister said powers would be delegated to [...] Continue Reading »
Jaipur Development Authority (JDA) seems to be promoting encroachment on government land by allotting nearly 41 hectares to National Institute of Medical Science (NIMS) University situated alongside Jaipur-Delhi national highway. It was earlier declared that the university administration had allegedly constructed four illegal hostel buildings in the campus and a playground on pastureland. After the [...] Continue Reading »
Air India Ltd, India’s state-owned airline, is considering spinning off its real estate assets into a real estate investment trust (REIT) and lists it on the stock exchanges in a move that could give the company significant tax breaks and also improve its finances. Air India has 800 properties at prime locations around the world; [...] Continue Reading »
Large FDI providers in real estate have approached the finance ministry seeking tax changes to the current framework for Indian real estate investment trusts (REITs). The recently unveiled structure reduces cash in the hands of shareholders by almost one-fifth compared to a listing in Singapore, they told the government officials in recent meetings. REITs allow [...] Continue Reading »
Consolidated Construction Consortium Ltd will focus on rate contract-based construction orders rather than large infrastructure projects, according to R Sarabeswar, Chairman and CEO. Addressing shareholders at the annual general meeting, the Chennai-based company which has gone in for corporate debt restructuring, said it will focus on construction contracts for factories, institutions and other structures, where [...] Continue Reading »
During Prime Minister Narendra Modi’s visit to Japan, GMR Infrastructure signed a memorandum of understanding to provide financial assistance to Japanese companies investing in infrastructure projects of the GMR Group. According to a statement, the objective of this MoU is to provide low-cost, long-term financing for infrastructure projects that involve Japanese companies. These could be [...] Continue Reading »
After labour law reforms, the Narendra Modi Government plans to fast-track changes in key environment laws and has set up a high-level committee to draft the proposed amendments within two months. The committee, to be headed by former Cabinet Secretary TSR Subramanain, will review the Environment (Protection) Act, 1986, the Forest (Conservation) Act, 1980, the [...] Continue Reading »
Canadian infrastructure companies have gained great expertise in the field and are very keen to participate in the many projects coming up in Andhra Pradesh in the aftermath of bifurcation. It will be mutually beneficial for local companies to tie up with their Canadian counterparts, according to Consul and Senior Trade Commissioner (South India), Stanley [...] Continue Reading »
