Budget 2012
Most of the civic bodies or city corporations in the state have already presented the budget for the year 2012-13. Unlike other city corporations, Bruhat Bangalore Mahanagara Palike (BBMP) is yet to take this step. The same budget for last year was presented in August which was approved in September by the government. However, despite [...] Continue Reading »
The home buyers as well as the builders are disappointed by the proposals of the state budget of Maharashtra. The price of real estate properties were increased several times in past one year. The increased rate of home loans also added burden on the home buyers. Now the latest announcement of imposing additional 5% stamp [...] Continue Reading »
Residents of Bhopal are waiting for Bhopal Municipal Corporation (BMC) budget for a reason. They have been deprived of basic amenities in the localities with problems like poor condition of roads. The last year’s budget Rs 50 lakh has not been utilised and is likely to lapse by March 31. Due to which, the civic [...] Continue Reading »
Confederation of Real Estate Developers’ Associations of India (CREDAI) planned for a two days conference in Pune. The main agenda of the brain storming session is to find out probable solutions for coming out from the critical situation. The top developers from across the country will also discuss the impact of the union Budget 2012, [...] Continue Reading »
With the announcement in budget, enhancing the low cost affordable housing projects, Reliance Industries Limited planned to construct the low cost housing projects in India. Mukesh Ambani, dreamed of constructing affordable housing in 2009. But those plans have not been executed till now. Now the firm is targeting to utilize the unused lands for constructing [...] Continue Reading »
This year budget has brought great hopes for those builders who were indulged in developing affordable homes. As per the current external commercial borrowing (ECB) norms, interest rates will be charged less in case of loan taken from foreign financial institutions than domestic ones. Also loans have been made cheaper for affordable homes’ buyer by [...] Continue Reading »
According to the different Realtors, the union Budget 2012 came up as a disappointing budget for the middle range of home buyers. Due to the rise in service tax the cost of construction of real estate projects will increase by Rs 50 to 150 per square feet from the coming April, 2012. External commercial borrowing [...] Continue Reading »
As the rate of service tax and excise duty has been increased in the budget, the property price in India may not reduce in near future. According to a report, the amendments made by Development Control Regulations (DCR) will increase the project construction costs for builders. The modified rule have revised the calculation of the [...] Continue Reading »
The realty market in India is in a bad shape. The expectation of the sector on the budget was not fulfill to that extent. The good news for the realty sector is the allowance of External Commercial Borrowings for low cost affordable housing projects. The withholding tax also reduces to 5% from 20% on ECBs [...] Continue Reading »
The real estate sector exceeds the expectation from the Budget 2012. The most important announcement made by the government by allowing the external commercial borrowing (ECB) in the construction of affordable housing projects. Also the government gave a relief to the sector by reducing the withholding tax on ECB for affordable housing projects. The real [...] Continue Reading »
