Finance Minister
Reacting to the Union Finance Minister‘s advice asking realtors to download unsold stock at discounted prices, the Confederation of Real Estate Developers Association of India (CREDAI) has counter advised the minister to bring special incentives to boost purchase of houses. Credai has been lobbying with the government to push for reforms in the real estate [...] Continue Reading »
The Finance Minister has urged the chiefs of government-owned banks to put pressure on real estate developers to lower property prices. This has been done in order to get the economy moving, which has been hit by a slowdown. In a meeting with bank chiefs, Finance Minister, P Chidambaram, asked the bankers to influence builders [...] Continue Reading »
In order to address issues plaguing the real estate sector, Finance Minister P Chidambaram on Saturday asked help from Indian bankers. He has asked Indian Bankers Association (IBA) to form a committee to advise the government on tackling the slowdown in the housing demand. He stated that various issues facing the real estate sector need [...] Continue Reading »
The former Chief Minister of Maharashtra, Ashok Chavan, on Saturday passed the blame to Union Science and Technology Minister, Vilasrao Deshmukh, for granting permission to the Adarsh housing society. Mr. Chavan said that Mr. Deshmukh, the then Chief Minister, had allotted the government land, regardless of the land valuation. He also blamed Finance Department suspecting [...] Continue Reading »
The central government is considering to raise the limit of housing loans eligible at interest of one per cent to Rs 15 lakh from the current Rs 10 lakh. The proposal is likely to be discussed in the Union Cabinet this week. The move aims towards activating real estate growth as a major contributor for [...] Continue Reading »
The Sensex climbed over 100 points in early trade on Monday. Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee have planned to soon unveil measures to improve market conditions. The Nifty touched a high of 5,188.95 and a low of 5,158.45 today while the Sensex touched a high of 17,116.67 and a low of [...] Continue Reading »
