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Finance minister has proposed for Tax Deducted at Source (TDS) to all who buys immovable property (other than farm) worth Rs 50 lakh or above in cities and Rs 20 lakh in other areas, must withhold tax of 1% of consideration. And the buyers should provide the proof of remitting the 1% tax in time [...] Continue Reading »
With the change in government in UP, the real estate developers are expecting a stable political situation which must encourage the real estate activity in Noida region. According to the builders working in and around Noida, observing a slow progress in project enquiries and walkings after that formation of the new government. Earlier the month [...] Continue Reading »
In the recent 2012 annual budget, Rs 20,231.04 lakh was approved to Varanasi Development Authority (VDA). With the follow up of this, the vice chairman of VDA RP Goswami declared saying that Rs 17 crore aide will be given by state government for selling plots and buildings. Also, during the year 2011 VDA had planned [...] Continue Reading »
Through a notification, Reserve Bank of India asked all the commercial banks in India to exclude the stamp duty and registration charges from the evaluation of the value of any property. So from now onwards the stamp duty amount needs to be paid by the buyers. Banks will not add the amount in the home [...] Continue Reading »
Gurgaon residential sector observed 30% to 35% rise in capital values in residential property. On the other hand the execution of properties slow down due to the high debt rate and crunch in liquid fund. But the market opportunity in Gurgaon is considered to be higher than other markets. The improvement in infrastructure in terms [...] Continue Reading »
The real estate sector had a number of expectations on the budget 2012. The major highlighted effect of the budget over the real estate sector are : The budget proposed to open the doors for the External commercial Borrowing for specific affordable housing projects. The realty sector is hoping for an improvement of the liquidity [...] Continue Reading »
Real estate sector had a lot of expectation from the budget 2012. However the budget did not accept any of the assumptions of the sector. The leaders are not impressed with the outcome of the budget. The sector only achieved external commercial borrowing for low-cost affordable housing projects. The government took the decision to enhance [...] Continue Reading »
External commercial borrowing (ECB) is encouraged in the budget 2012 for the affordable housing projects. However according to analysts the foreign investors will not be interested to invest in the affordable housing projects due to the low profit margin. Also the cost of Indian rupees is volatile, it will be difficult for individual builders to [...] Continue Reading »
The budget has made the real estate sector disappointed. It is not only disappointing the real estate builders, but there is also no better announcement for the middle range home buyers. With the increase of the service and excise tax, the cost of construction will increase by Rs.50 to Rs.100 per square foot. The only [...] Continue Reading »
A good announcement for the realty sector. Government has formed a committee to enhance the clearance process for the real estate developments. The finance minister informed this in a customary meeting with the industry leaders. He also informed that the initial concentration of the group is on the coming power projects, the access to coal [...] Continue Reading »
