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 help the realty sector," she said at an NSE event. This was aggravated by the economic slowdown, which at one hand caused huge inventory pile-up due to lack of demand and also brought ongoing projects to a standstill due to lack of funds. "There are many alternative funds which are now approaching us, saying we would like to do something with you as long as some supporting mechanism is available for reviving the realty sector," she said.

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History of this topic

Budget 2024: 5 Things the real estate sector looks forward to from the finance minister
5 months, 2 weeks ago

Budget 2024: 5 Things the real estate sector looks forward to from the finance minister

Hindustan Times  

Budget 2024 will be presented by Finance Minister Nirmala Sitharaman today and the real estate sector hopes that the government will focus on affordable and middle income housing in the Budget. The real estate sector hopes that the government will push for affordable and middle income housing in Budget 2024. The government should raise the deduction limit for interest payment …

Real estate sector pins hopes on Modi 3.0; pushes for focus on infra development and affordable housing
6 months, 4 weeks ago

Real estate sector pins hopes on Modi 3.0; pushes for focus on infra development and affordable housing

Hindustan Times  

The real estate sector hopes that the new government will continue to focus on infra development, affordable housing, streamlining of the regulatory framework, single window clearance mechanism and rationalization of taxes to stimulate investment and growth in the sector. With Narendra Modi taking oath as the prime minister for the third time, the real estate sector hopes that the new …

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 …

Challenges amid changing trends in real estate
1 year, 4 months ago

Challenges amid changing trends in real estate

The Hindu  

The real estate sector has been grappling with a lot of challenges in the past few years. Even though real estate is the second biggest employment in India and contributes to 7% of the GDP, it still doesn’t have an industry status. Top banks and financial institutions have reduced their exposure to the real estate sector making it difficult for …

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman
1 year, 11 months ago

Budget 2023: Here’s what the real estate sector is expecting from FM Sitharaman

Hindustan Times  

The Indian real estate market saw a strong comeback post pandemic with the residential sector picking up demand amidst healthy economic growth, a Mint report states. The real estate sector is looking forward to budget 2023 to drive the demand for housing through tax relief and lesser stamp duty According to Gurmit Singh Arora, national president of Indian Plumbing Association, …

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?
1 year, 11 months ago

Budget 2023: Will FM Sitharaman Make Property Purchase Easier for Homebuyers?

News 18  

The Indian housing sector did reasonably well in 2022. The budget could include increased funding for the Pradhan Mantri Awas Yojana, a government programme that provides affordable housing to the urban and rural poor. Announce tax incentives Under Section 24 of the Income-tax Act of 1961, homebuyers can currently claim an income tax deduction for the interest paid on their …

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 …

What real estate expects
1 year, 11 months ago

What real estate expects

The Hindu  

The real estate sector is among the large contributors to India’s GDP and the second largest employer in the country. As the real estate sector gears up to receive support from the Budget, an increase in tax exemption on interest paid on home loans, exemption on rental incomes, uniformity and expansion in the definition of affordable housing would be welcome. …

India's Housing Sector is Growing Post-Covid, Says Raymond Chairman Gautam Singhania - News18
2 years, 3 months ago

India's Housing Sector is Growing Post-Covid, Says Raymond Chairman Gautam Singhania - News18

News 18  

The demand for housing post-Covid has increased and people have realised during this time the importance of living in one’s own home, Raymond Chairman and Managing Director Gautam Hari Singhania told News18.com in an exclusive interview. He said the timing is good for Raymond Realty to be in the Indian markets, where the housing sector is growing manifold. What pain …

Union Budget 2022-23: What real estate sector, homebuyers expect from govt
2 years, 11 months ago

Union Budget 2022-23: What real estate sector, homebuyers expect from govt

India Today  

The real estate sector has a host of expectations from the government as Finance Minister Nirmala Sitharaman gets ready to announce the Union Budget 2022-23. TAX RELIEF ON HOME LOANS This year the real estate sector wants the government to go beyond the usual expectation of single-window clearance and industry status. There is a specific need for income tax relief …

Budget 2021: Did Nirmala Sitharaman meet expectations of real estate sector?
3 years, 11 months ago

Budget 2021: Did Nirmala Sitharaman meet expectations of real estate sector?

India Today  

Affordable housing, tax deduction on home loan interest, debt financing for REITs and InvITs and boost to infrastructure in Union Budget 2021-22 are expected to be the biggest gains for the real estate sector in India. IndiaToday.in spoke to some experts from the real estate sector to understand what they think were the hits and misses of Union Budget 2021: …

Real estate players want banks to pass on benefit of rate cut to customers; demand one-time debt restructuring
4 years, 7 months ago

Real estate players want banks to pass on benefit of rate cut to customers; demand one-time debt restructuring

Firstpost  

Real Estate sector can act as a catalyst in resurrecting the economy, backed by stringent fiscal and non-fiscal measures," CREDAI President Satish Magar said in a statement. New Delhi: Real estate developers on Friday welcomed cut in key interest rates but said the RBI needs to take more steps, such as one-time debt restructuring of builders loan, to provide relief …

Central government to issue advisory for real estate stakeholders
4 years, 8 months ago

Central government to issue advisory for real estate stakeholders

Live Mint  

New Delhi: The central ministry for housing and urban affairs said that the impact of the lockdown on the real estate sector will be treated as an event of ‘Force Majeure’ under the provisions of the Real Estate Act, 2016. The meeting saw different stakeholders of the real estate sector including state secretaries, RERA Chairpersons, representatives of home buyers, real …

RBI decision to ease norms for repaying project loans to bring relief to realty sector
4 years, 11 months ago

RBI decision to ease norms for repaying project loans to bring relief to realty sector

Live Mint  

After a lackluster Union budget, the ailing real estate market got a boost from the Reserve Bank of India with its decision to allow banks to extend commencement of commercial operations of project loans by another year. “This is a big move and will bring the much-needed relief to the cash-starved real estate sector - and to both developers and …

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 …

Property market set for modest lift from government measures: Analysts
5 years, 1 month ago

Property market set for modest lift from government measures: Analysts

Live Mint  

India's housing market, burdened with unfinished projects as developers struggle to get cash, is forecast to rebound modestly over the coming year on government plans to unclog the market, a Reuters poll of analysts found. Financing options, including banks and non-banking financial companies, have dried out and investors prefer commercial real estate," said Anuj Puri, chairman of ANAROCK Property Consultants, …

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 …

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors
5 years, 2 months ago

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors

Firstpost  

The present decision to open a new window for finance is hence quite timely and should address to a large extent the woes of the real estate segment The improvement in the World Bank Doing business rank is just a statistic, but sounds good in the global context. The decision taken to create an Alternative Investment Fund for Rs 25,000 …

A Rs 25,000 cr push: Here's how govt plans to revive the real estate sector
5 years, 2 months ago

A Rs 25,000 cr push: Here's how govt plans to revive the real estate sector

Business Standard  

In a cabinet meeting, on Wednesday, Finance Minister Nirmala Sitharaman approved setting up of a Rs 25,000-crore alternative investment fund to revive around 1,600 stalled housing projects across top cities in the country. At present, the Mumbai Metropolitan Region and the National Capital Region are two of the worst-hit property markets in the country, with 95,000 and 195,000 stuck projects, …

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’s announcement for housing: AIF for NPA-tagged projects is a great idea, but devil is in the detail
5 years, 2 months ago

Nirmala Sitharaman’s announcement for housing: AIF for NPA-tagged projects is a great idea, but devil is in the detail

Firstpost  

The big relief to the home buyers and developers in Sitharaman�s announcement is that the fund can be availed by even those projects that are tagged as NPAs by banks The Union Finance Minister Nirmala Sitharaman’s announcement that the government will take the initiative to set up a Rs 25,000 crore Alternative Investment Fund to lend a helping hand to …

Nirmala Sitharaman announces Rs 25,000 cr bailout fund to complete over 1,600 stalled housing projects
5 years, 2 months ago

Nirmala Sitharaman announces Rs 25,000 cr bailout fund to complete over 1,600 stalled housing projects

Firstpost  

In a major boost to the housing and real estate sector, the government on Wednesday approved setting up of a Rs 25,000 crore bailout fund to finance 1,600 stalled housing projects, the Finance Minister Nirmala Sitharaman said In a major boost to the housing and real estate sector, the government on Wednesday approved setting up of a Rs 25,000 crore …

Nirmala Sitharaman hints at booster dose for realty sector; admits previous measures may not help revive demand
5 years, 2 months ago

Nirmala Sitharaman hints at booster dose for realty sector; admits previous measures may not help revive demand

Firstpost  

Finance minister Nirmala Sitharaman on Tuesday said the government and Reserve Bank are working to resolve the issues being faced by realty sector Mumbai: Finance minister Nirmala Sitharaman on Tuesday said the government and Reserve Bank are working to resolve the issues being faced by realty sector. Admitting that realty sector has been left out of the booster measures announced …

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. …

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 …

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 …

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 …

Sitharaman's BIG announcement: Home, vehicle loans to become cheaper. Here's how
5 years, 4 months ago

Sitharaman's BIG announcement: Home, vehicle loans to become cheaper. Here's how

India TV News  

Finance Minister Nirmala Sitharaman Friday announced a slew of measures to ensure that loans for home, vehicles and consumption goods become cheaper and widely available through banking and non-banking finance companies. Monthly installment for housing, vehicle loans reduced Addressing a press conference, Finance Minister Nirmala Sitharaman Friday said banks will launch repo rate and external benchmark-linked loan products. Further, the …

Sitharaman, real estate developers discuss liquidity issue, need for stress fund
5 years, 4 months ago

Sitharaman, real estate developers discuss liquidity issue, need for stress fund

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Sunday met real estate players and discussed ways to create demand in the country's real estate market The major subjects discussed in the meeting included liquidity problems and completion of stalled projects. Speaking to reporters after the meeting, Niranjan Hiranandani, the President of National Real Estate Development Council, said that the issue of …

Realty stocks down despite thrust on affordable housing in the Union Budget
5 years, 6 months ago

Realty stocks down despite thrust on affordable housing in the Union Budget

Live Mint  

Mumbai: Shares of realty companies were down despite thrust on affordable housing in the Union Budget. Finance Minister Nirmala Sitharaman in the Union Budget said the government plans to build 19.5 million rural houses in the second phase of its “Housing for All” programme. To further stimulate economic growth and accelerate corporate earnings, the government should also consider a reduction …

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