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 crore to address the requirements of the real estate sector is commendable as it strikes at the core. This fund will be used to finance incomplete real estate projects which are around 1600 in number involving around 4.6 lakh units. With Real Estate Act 2016 or RERA and goods and services tax being two big reforms affecting this segment which brought in more discipline, the issue of servicing of debt also became a problem.

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History of this topic

Realty sector grows despite HYDRAA fears
2 weeks ago

Realty sector grows despite HYDRAA fears

New Indian Express  

HYDERABAD: The real estate sector in the Hyderabad Metropolitan Region is witnessing significant growth compared to last year. In an informal interaction with reporters, GHMC Commissioner K Ilambarithi and HMDA Metropolitan Commissioner Sarfaraz Ahmed, along with other officials, expressed their commitment to fostering real estate growth in Hyderabad. Proposed projects include multi-level flyovers, grade separators, underpasses, junction improvements and road …

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden
1 month ago

Experts ask RBI to cut interest rate to revive real estate market, ease home loan burden

Live Mint  

With the Reserve Bank of India keeping its key interest rate unchanged, real estate experts and developers have stressed the need to lower the rate, citing the need to stimulate sluggish sales and ease the growing burden of borrowing costs. “At this point, a rate cut would be more beneficial for consumers," said Shishir Baijal, chairman and managing director of …

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 …

Modi 3.0: Cabinet’s nod to 3 crore rural and urban homes under PMAY to help revive the affordable housing segment
6 months, 4 weeks ago

Modi 3.0: Cabinet’s nod to 3 crore rural and urban homes under PMAY to help revive the affordable housing segment

Hindustan Times  

Hours after taking office for a third consecutive term, Prime Minister Narendra Modi's new Union Cabinet announced its first major policy decision to provide assistance for the construction of an additional three crore rural and urban houses under the Pradhan Mantri Awas Yojana. This, say real estate experts, is aimed at ensuring continuity to the Housing for All scheme and …

Housing for all: The Hindu Editorial on scheme to help the urban poor build houses in cities
1 year, 4 months ago

Housing for all: The Hindu Editorial on scheme to help the urban poor build houses in cities

The Hindu  

The announcement by Prime Minister Narendra Modi of a scheme to help the urban poor build houses in cities is a signal that the government is to undertake one more plan to address the problem of a shortage in urban housing. Even five months ago, its stand was that no new housing scheme had been envisaged following the extension of …

Buy vs rent: HDFC CEO confident on India’s growing real estate demand in future
1 year, 7 months ago

Buy vs rent: HDFC CEO confident on India’s growing real estate demand in future

Live Mint  

As the perpetual debate of buy vs rent in India is nowhere to end, HDFC head, Keki Mistry, expressed his confidence in the boost in housing demand led by India's young population in the coming years. In his recent interview with Financial Times, the HDFC CEO, said that India's young population will propel the demand for housing for years to …

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 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 …

HDFC rides the coat tails of the real estate recovery
3 years, 3 months ago

HDFC rides the coat tails of the real estate recovery

Live Mint  

The festival season is here and real estate firms are back with gusto, launching new projects in metros. In this context, Housing Development Finance Corp. Ltd is set to see a boost in loan growth in the current and the coming quarters. As such, India’s largest non-bank home loan financier had indicated that disbursements will rise once the curbs imposed …

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: …

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy
4 years, 1 month ago

Nirmala Sitharaman press meet updates | Finance Minister announces 12 schemes to boost economy

The Hindu  

A day after announcing a scheme to boost manufacturing sector, Finance Minister Nirmala Sitharaman is meeting the press to announce more stimulus. The government on Wednesday approved a Production-Linked Incentive scheme for ten key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 lakh crore over a five-year period. 3000 crore for …

KKR to step up real estate financing
4 years, 2 months ago

KKR to step up real estate financing

Live Mint  

Bengaluru: Real estate focused non-banking financial company KKR India Asset Finance Ltd is stepping up lending even as overall financing to the sector remains subdued, said a top executive. We also think that the residential market will continue to bottom out and stage recovery in the next few quarters, thereby presenting a good risk-return proposition for investors,” Yesh Nadkarni, MD, …

RBI rejigs home loan rules to boost real estate sector
4 years, 3 months ago

RBI rejigs home loan rules to boost real estate sector

Live Mint  

The RBI today rejigged rules for new home loans to boost the real estate sector. "In recognition of the role of the real estate sector in generating employment and economic activity, it has been decided to rationalise the risk weights and link them to LTV ratios only for all new housing loans sanctioned up to March 31, 2022," the RBI …

Sell unsold units at 'no-profit-no-loss' to save interest, boost liquidity: Nitin Gadkari to real estate developers
4 years, 8 months ago

Sell unsold units at 'no-profit-no-loss' to save interest, boost liquidity: Nitin Gadkari to real estate developers

Firstpost  

Union Minister Nitin Gadkari on Wednesday exhorted real estate players to sell unsold housing units, even at no-profit-no-loss, to boost their liquidity condition and save interest cost on loans New Delhi: Union Minister Nitin Gadkari on Wednesday exhorted real estate players to sell unsold housing units, even at no-profit-no-loss, to boost their liquidity condition and save interest cost on loans. …

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: Expect Nirmala Sitharaman to continue with govt's focus on infrastructure development; will boost job opportunities
4 years, 11 months ago

Budget 2020: Expect Nirmala Sitharaman to continue with govt's focus on infrastructure development; will boost job opportunities

Firstpost  

While commercial housing is on an upswing, rental housing is a very important aspect that should have renewed focus and policy measures to boost residential real estate in the Budget There are great expectations from Budget 2020 to fuel consumption, increase demand in the market and aid the economy on its way to recovery, given that the initial dust arising …

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 …

Opinion | Budget 2020 wish list: More freedom for NBFCs to revive demand
4 years, 11 months ago

Opinion | Budget 2020 wish list: More freedom for NBFCs to revive demand

Live Mint  

Non-banking finance companies play an important role in providing credit access to businesses and individuals across the spectrum. The increase in the ₹2 lakh tax rebate on housing loan interest rates under Section 24 of the Income Tax Act, will encourage demand for housing, especially in the affordable and mid-segment categories. Allow strong NBFCs/ HFCs to access public deposits: Large …

Budget 2020: Three things Nirmala Sitharaman needs to watch out for
4 years, 11 months ago

Budget 2020: Three things Nirmala Sitharaman needs to watch out for

Live Mint  

As finance minister Nirmala Sitharaman prepares to present her second budget at a time growth is projected to decelerate to 4.8% in 2019-20 by the International Monetary Fund, here are the three things that Sitharaman needs to keep in mind: Demand push While the government has reluctantly acknowledged that the Indian economy has a growth problem, it has so far …

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 …

Realty stocks jump up to 8.2% on Rs 25,000-cr fund booster to complete 1,600 stalled housing projects
5 years, 2 months ago

Realty stocks jump up to 8.2% on Rs 25,000-cr fund booster to complete 1,600 stalled housing projects

Firstpost  

New Delhi: Realty stocks closed up to 8.2 percent higher on Thursday after the government approved a Rs 25,000 crore fund for 1,600 stalled housing projects, which is expected to jumpstart consumption and give a boost to real estate and allied sectors. “On the domestic front, the measures announced by the Finance Minister yesterday helped revive interest in real estate …

Homebuyers can approach banks for loan revival; Rs 25,000-cr fund not for projects facing litigation in higher courts: Govt
5 years, 2 months ago

Homebuyers can approach banks for loan revival; Rs 25,000-cr fund not for projects facing litigation in higher courts: Govt

Firstpost  

A day after announcing a Rs 25,000-crore stress fund for stalled housing projects, the government on Thursday advised homebuyers to approach lenders for additional borrowing or revival of their loans, while clarifying that projects facing litigation in higher courts will not be covered under the scheme New Delhi: A day after announcing a Rs 25,000-crore stress fund for stalled housing …

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. …

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 …

Moody’s says Altico’s default credit negative for banks with exposure to realty
5 years, 3 months ago

Moody’s says Altico’s default credit negative for banks with exposure to realty

Live Mint  

Mumbai: Rating agency Moody's on Thursday said real estate financier Altico Capital India Ltd's default is credit negative for banks with significant exposure to real estate sector. Moody's also said banks such as Yes bank and Indusind Bank which have the largest direct exposure to commercial real estate would be susceptible to asset quality difficulties if the real estate sector …

Govt announces steps to boost housing, facilitate homebuyers
5 years, 3 months ago

Govt announces steps to boost housing, facilitate homebuyers

The Hindu  

The government on Saturday announced a ₹10,000 crore special window to provide last-mile funding for completion of ongoing housing projects, which are not NPAs or facing bankruptcy proceedings under NCLT. Announcing the measure, Finance Minister Nirmala Sitharaman said the government will contribute ₹10,000 crore for the special window and roughly the same amount is expected from outside investors. Ms. Sitharaman …

Special ₹10,000 crore window to extend funding to incomplete housing projects
5 years, 3 months ago

Special ₹10,000 crore window to extend funding to incomplete housing projects

Live Mint  

Finance Minister Nirmala Sitharaman today announced a number of measures to boost the housing and export sector. This includes a ₹10,000 crore special window to extend funding to incomplete housing projects. In recent weeks, the government has announced a slew of measures, including front-loading of public expenditure, and improved access to credit for businesses and capital infusion into state-run banks …

Housing finance firms to get additional liquidity support of ₹20,000 cr
5 years, 4 months ago

Housing finance firms to get additional liquidity support of ₹20,000 cr

Hindustan Times  

The government on last Friday announced an additional ₹20,000-crore liquidity support to the struggling housing finance companies, a move aimed at enhancing their lending capacity. Announcing this as part of measures to prop up the economy, Finance Minister Nirmala Sitharman said now the liquidity support for HFCs would be ₹ 30,000 crore. Announcing this as part of measures to prop …

Housing finance firms to get additional liquidity support of ₹20,000 crore
5 years, 4 months ago

Housing finance firms to get additional liquidity support of ₹20,000 crore

Live Mint  

The government on Friday announced an additional ₹20,000-crore liquidity support to the struggling housing finance companies, a move aimed at enhancing their lending capacity. The additional liquidity support to be provided by the National Housing Bank will help the real estate sector which is facing a demand slowdown and cash crunch. Announcing this as part of measures to prop up …

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 …

IL&FS default impact: NBFCs, HFCs lending to real estate almost halved in FY'19 to Rs 27,000 cr, says report
5 years, 5 months ago

IL&FS default impact: NBFCs, HFCs lending to real estate almost halved in FY'19 to Rs 27,000 cr, says report

Firstpost  

The outstanding credit by NBFCs/HFCs to real estate developers increased by more than 3.5 times to about Rs 2,33,000 crore till 2017-18 from Rs 64,000 crore in 2011-12, Nair said. New Delhi: Lending to real estate developers by non-banking finance companies and housing finance firms fell by almost half to about Rs 27,000 crore because of liquidity crisis triggered by …

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house
5 years, 6 months ago

Real Estate Sector Budget 2019: Govt hikes tax break on interest paid on home loans to Rs 3.5 lakh for purchase of first house

Firstpost  

Nirmala Sitharaman raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan for the purchase of first home worth up to Rs 45 lakh. New Delhi: Finance minister Nirmala Sitharaman on Friday raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan sanctioned during this fiscal for purchase of first home worth …

NBFC Sector Budget 2019: Govt to provide one-time partial credit guarantee to PSBs to buy financially sound NBFC assets
5 years, 6 months ago

NBFC Sector Budget 2019: Govt to provide one-time partial credit guarantee to PSBs to buy financially sound NBFC assets

Firstpost  

The NBFCs are playing an important role in sustaining consumption demand as well as capital formation in small and medium industrial segment, she said in her maiden Budget Speech in Parliament. New Delhi: Non-banking financial companies play an important role in capital formation and the government will provide a one-time partial credit guarantee to PSBs to buy high-rated pooled assets …

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 …

To solve the liquidity crisis, RBI should make banks lend more to NBFCs
5 years, 6 months ago

To solve the liquidity crisis, RBI should make banks lend more to NBFCs

Hindustan Times  

In the immediate liquidity crisis, good Non-Bank Financial Companies should be able to raise debt capital, but this is not always happening. If the real estate company is itself under financial stress, and does not have the money to complete its project, the assets on the balance sheet of the NBFC start looking bad. Suppose the real estate company needed …

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