Reserve Bank of India
Abhinav Bhushan an investment banking chief of Essel Financial Services Ltd, a part of Subhash Chandra’s Essel Group has been appointed as the head of its real estate fund business which is prepared to raise a $200 million offshore fund. Essel Financial’s real estate fund business, has proposed to build a corpus of Rs.500 crore in 3-6 [...] Continue Reading »
Guwahati sees highest rise in the real estate prices in the last quarter of 2013 The last quarter of 2013 witnessed Guwahati registering the second highest rise in prices of residential properties among major cities in India. As per the National Housing Bank (NBH), a subsidiary of Reserve Bank of India (RBI), the prices of residential properties in 16 cities [...] Continue Reading »
New Delhi: Even though real estate prices have increased rapidly in the leading cities, Reserve Bank of India (RBI) governor D Subbarao opines that there is no housing price bubble building up in India. After capturing prices in nine cities, RBI has recorded in its macro-economic and monetary development report released recently that there are [...] Continue Reading »
Mumbai: On a move to step up real estate sales, Reserve Bank of India (RBI) has cut Repo Rate for the third time since January by 25 basis points. However, the lowering of the Repo rate by 0.25 percent may no sooner be beneficial to home loan seekers as it is too small to have [...] Continue Reading »
Delhi- In order to promote low-cost housing projects, the government is planning to allow foreign direct investment (FDI) in such projects, subject to a host of conditions, including a lock-in period and minimum capital requirements. At present, FDI is banned in the real estate business but 100 percent FDIis allowed in the construction development projects [...] Continue Reading »
Confederation of Real Estate Developers Associations of India (CREDAI), which represents the organised real estate developers and builders across the country is planning to aim towards affordable housing, green buildings, water harvesting and skill development among construction workers. In this regard, the realtor body has asked the government to expedite the project approval process. CREDAI [...] Continue Reading »
Reserve Bank of India (RBI) has announced the second repo rate cut of 0.25 percent (25 basis points) to 7.50 percent. Earlier, a similar cut was declared on January 29, 2013. This has adjusted the reverse repo rate to 6.50 percent and the Bank Rate to 8.50 percent. The Cash Reserve Ratio (CRR) has been [...] Continue Reading »
The home loan incentive which was announced recently by the Finance Minister with the Union Budget 2013 has been the talk since its release. The real estate developers are the group who can cheer the most with the incentive. One can claim the tax deduction only if his/her loan amount is less than Rs 25 lakh. Also, it has [...] Continue Reading »
With release of Union Budget 2013, the Finance Minister has proposed to offer deduction in tax on home loans to first time home buyers. This initiative has brought some cheer for the home buyers as there was no significant tax reliefs in the past. One can claim the deduction at tax only if your loan amount is [...] Continue Reading »
With the Union Budget to be presented in a week, Builders’s Association of India (BAI) expects a hike in exemption limit on the interest in home loan. At present, the exemption is set at Rs 1.5 lakh which the builders want to be set at Rs 3 lakh. The builders demand the Finance Minister to [...] Continue Reading »
