Finance Minister
In a noteworthy announcement made by Finance Minister Arun Jaitley during the course of his Budget speech on Thursday, ‘slum development’ will henceforth be treated as one of the Corporate Social Responsibility (CSR) activities. The Finance Minister’s move to include ‘slum development’ as a CSR activity will essentially work as a supplement to the ongoing [...] Continue Reading »
Arun Jaitley has finally taken office as a finance minister and he is laying special emphasis by restoring the growth as inflation is controlled as well as refining the budget deficit at the same time. Since he was the commerce minister during the Vajpayee government from 2003 to 2004, he will make sure that the [...] Continue Reading »
Finance Minister, Mr. P. Chidambaram in his budget speech on Monday said that there had been a whopping over seven-fold increase at 3.89 lakh kilometers in the road network in the country during the UPA-I and UPA-II regime. He said, “In the year 2004, the country’s highway network was 51,511 km which has now reached [...] Continue Reading »
The interim budget disappointed realty developers and did not provide any relief to the sector. The developers, however, are hoping for an indirect would boost to the housing demand through the steps being taken to push growth in other industries such as automobile. Confederation of Real Estate Developers’ Association of India (CREDAI) Chairman, Mr. Lalit [...] Continue Reading »
The Tamil Nadu government is giving a lot of thought to the infrastructure development of the state to promote industries. The state government presented a no new-tax budget for 2014-2015. This move to promote industries amidst a “failing macro environment” is being taken to support the economic growth in the state. The government has decided [...] Continue Reading »
The real estate developers have sought tax breaks from the Government for home buyers and builders to boost up boost sales as well as speed up new launches. They are voicing their opinions on seeking both industry and infrastructure status for themselves and an enhancement in the tax break given to home buyers on the [...] Continue Reading »
New Delhi- The Union Budget has allocated budget of Rs 7,701 crore to Delhi Metro in the Budget 2013-2014, for Phase-III metro construction in Delhi. In 2012-2013 fiscal, Rs 4,511.89 crore (Plan and non-Plan combined) was allocated to the Delhi metro. Union Budget has increased the allocation by Rs 669.23 crore under the 2013-14 Budget. [...] Continue Reading »
Bangalore- Good news to builders and developers whose projects have been kept on hold due to liquidity crisis. The finance ministry has planned to initiate a measure which is expected to improve the realty sector. Banks will be allowed to permit funds to stalled projects, which would revive the growth in economy. As per RBI‘s [...] Continue Reading »
The Reserve Bank of India (RBI) has denied the request of banks to allow them to restructure real estate loans without providing for likely losses if the loans go bad. A loan is said to be restructured when the original terms of the agreement (interest rates, tenure) are diluted in order to support troubled borrowers [...] Continue Reading »
As Union Finance Minister P Chidambaram’s take on realtors seems to invite reactions from the developers. CREDAI national president Mr Lalit Kumar Jain stated that the finance minister should take immediate steps to boost to housing stock supply through special incentives to the affordable segment. He further added that the reported figure of unsold housing [...] Continue Reading »
