Govt's boost to real estate disappointing, says CREDAI; key demands such as tax rebate yet to be addressed
5 years, 3 months ago

Govt's boost to real estate disappointing, says CREDAI; key demands such as tax rebate yet to be addressed

Firstpost  

CREDAI’s national chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact. CREDAI’s national chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact as it excludes those projects which are either facing insolvency proceedings or become non-performing assets. In July, the National Housing Bank asked housing finance companies to “desist” from offering loans under subvention scheme, wherein real estate developers pay home loan interest on behalf of home buyers till possession of flats. The government’s announcement was “disappointing” not just for the industry but also for the lakhs of people employed within the real estate sector, Magar said. “Through these steps, the government has provided relief to delayed housing projects as well as promoted affordable housing projects,” said Magazine, who also heads CBRE’s South East Asia, Middle East and Africa business.

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History of this topic

Election 2024 results: Real estate sector hopes for continued focus on infra development, affordable housing
7 months ago

Election 2024 results: Real estate sector hopes for continued focus on infra development, affordable housing

Hindustan Times  

The real estate sector hopes that the new government would continue to focus on infrastructure development, work towards lowering home loan interest rates, prioritize affordable housing, and provide tax incentives for sustainable development. Election 2024 results: The real estate sector hopes that the new government would continue to focus on infrastructure development, work towards lowering home loan interest rates, prioritize …

Budget 2023: Real estate sector's expectations from Finance Minister Nirmala Sitharaman
1 year, 11 months ago

Budget 2023: Real estate sector's expectations from Finance Minister Nirmala Sitharaman

India TV News  

Budget 2023: Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2023 on February 1. Real Estate Sector Expectations The real estate sector in India is one of the highest contributing sectors and the second-largest employment generator after agriculture. Co-working spaces have emerged as a major contributor to the commercial real estate sector and 10% on the receipts lead …

Budget 2023 Expectations: Will Home Buyers Get More Relief? Here's What Real Estate Sector Wants From FM
1 year, 11 months ago

Budget 2023 Expectations: Will Home Buyers Get More Relief? Here's What Real Estate Sector Wants From FM

News 18  

Real estate sector in India is expected to grow at a CAGR of 15%, from $60 billion in 2010 to $1,000 billion in 2030. Despite the rise in interest rates on home loans by more than two percentage points over the past year, housing sales have remained strong in 2022, in large part, because of the pent-up demand from the …

Budget 2020: Why reviving real estate holds key to boosting growth
4 years, 11 months ago

Budget 2020: Why reviving real estate holds key to boosting growth

India Today  

India's real estate sector has been witnessing a prolonged period of weak sales, resulting in a sharp decline in its contribution to the country's Gross Domestic Product. Rebuilding Real Estate | India Today Insight Despite the government's measures to revive the ailing sector, there has been no positive outcome with just marginal growth of one per cent in 2019. "Some …

Budget 2020: Real estate sector urges govt to provide infra status; boost demand to address liquidity, stress issues
4 years, 11 months ago

Budget 2020: Real estate sector urges govt to provide infra status; boost demand to address liquidity, stress issues

Firstpost  

The realty industry is looking to draw the government’s attention towards needs to take steps to boost liquidity, lower stamp duty, incentivise rental housing and affordable segment, rationalise taxation and lower home loan interest rates. Ketan Musale, Director, Dotcom Realty The real estate sector is very optimistic about the upcoming Budget in 2020 as we hope that it will include …

Is the government's bailout package for real estate enough to revive the sector?
5 years, 2 months ago

Is the government's bailout package for real estate enough to revive the sector?

India Today  

Much in line with the announcements made by Union finance minister Nirmala Sitharaman in September, the cabinet on November 7 approved a Rs 25,000 crore special window to provide funding to stalled housing projects in a bid to revive the sector. "The funds will be used to provide priority debt financing for the completion of stalled housing projects in the …

Rs 25,000-cr fund for real estate sector: Realtors welcome govt's decision, say move will solve long-pending problem of homebuyers
5 years, 2 months ago

Rs 25,000-cr fund for real estate sector: Realtors welcome govt's decision, say move will solve long-pending problem of homebuyers

Firstpost  

Deloitte partner Rohinton Sidhwa said getting stalled real estate projects moving through government- New Delhi: Real estate developers welcomed the government’s move to create a Rs 25,000-crore fund to help complete over 1,600 stalled housing projects, saying it will solve the long-pending problem of homebuyers. Now the only criteria for eligibility is networth positive projects,” real estate developers association CREDAI …

Nirmala Sitharaman plans booster dose for realty sector but unless realtors shed their greed and cut prices, no stimulus will work
5 years, 2 months ago

Nirmala Sitharaman plans booster dose for realty sector but unless realtors shed their greed and cut prices, no stimulus will work

Firstpost  

Union Finance minister Nirmala Sitharaman has hinted about specific measures to address the slowdown in the country’s real estate sector. Some time ago, the government had announced a dedicated Rs 10,000-crore special fund to provide last mile funding for the real estate sector. The persistently high prices in major pockets have severely impacted the prospects of the real estate sector. …

Nirmala Sitharaman hints at more sops for housing sector
5 years, 2 months ago

Nirmala Sitharaman hints at more sops for housing sector

India TV News  

Hinting at a big boost to the realty sector, Finance Minister Nirmala Sitharaman on Tuesday said that the government and the Reserve Bank of India are in the process of resolving the issues faced by the real estate sector. "The government is working together with the RBI to see how best we can tweak the existing norms wherever necessary to …

Real estate sector mess: Realtors desperately seeking govt aid, but are paying price for holding rates too high, too long
5 years, 3 months ago

Real estate sector mess: Realtors desperately seeking govt aid, but are paying price for holding rates too high, too long

Firstpost  

Real estate prices dramatically increased since 2000 through the boom years but over the last half a decade or so, there had been hardly any meaningful appreciation in prices. For instance, in Mumbai which is one of the biggest markets for high-end real estate inventory, prices haven’t appreciated much in the last 5-6 years. What the government has done is …

Centre to make major announcements for real estate industry, stalled projects
5 years, 4 months ago

Centre to make major announcements for real estate industry, stalled projects

Hindustan Times  

After a slew of reform measures announced in the past fortnight, the Central Government is likely to come up with major announcements to boost the real estate industry this week. Earlier, the finance minister had met the stakeholders of the real estate sector including developers and home buyers. According to official sources, the package for real estate industry would include …

Budget 2019: Real estate sector seeks higher tax incentives for buyers, developers
5 years, 6 months ago

Budget 2019: Real estate sector seeks higher tax incentives for buyers, developers

India Today  

India's real estate sector has been witnessing a gradual slowdown since the Narendra Modi-led government had announced demonetisation in 2016. Several real estate brokerages and experts said the effects of government reforms introduced over the past few years still continue to trouble the sector, which contributes highly to India's GDP. But the output of the real estate sector has dampened …

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