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 additional funds for housing finance companies and norm relaxation for developers seeking bank loans. On August 23, finance minister Nirmala Sitharaman had announced that the National Housing Bank would provide an additional liquidity on ₹20,000 crore to HFCs and the Minister had said that she would come up with announcement for the real estate sector including for stalled projects soon.

Real Estate Stalled Projects Real Estate Industry  housing  likely  stalled  including  projects  minister  major  sector  real  estate  finance  industry  announcements  centre  developers

History of this topic

Real Estate Budget 2024: Govt to launch housing scheme for the middle class
11 months, 1 week ago

Real Estate Budget 2024: Govt to launch housing scheme for the middle class

Hindustan Times  

The government will launch a housing scheme for middle class to buy or build their own houses, finance minister Nirmala Sitharaman said in her Budget 2024 speech on February 1. Government to launch ₹ 2 crore more housing units in the next five years under the PM Awas Yojana : Budget 2024 “Our Government will launch a scheme to help …

Real Estate Budget 2024: 8 things the sector expects from the Finance Minister
11 months, 1 week ago

Real Estate Budget 2024: 8 things the sector expects from the Finance Minister

Hindustan Times  

Budget 2024 will be presented by Finance Minister Nirmala Sitharaman today. The real estate sector has sought an expansion of the definition of affordable housing, industry status for the real estate sector, tax sops for homebuyers as well as developers, increase in exemption on principal amount as well as the interest paid on home loans, and greater retail engagement in …

Interim Budget 2024: What can it do for real estate?
11 months, 3 weeks ago

Interim Budget 2024: What can it do for real estate?

The Hindu  

The Indian real estate sector, particularly housing, is at a critical juncture as we approach the Union Budget for 2024-2025. Considering the forward momentum seen in 2023, alongside global economic challenges and the stagnation in affordable housing, there are several key areas the sector should focus on in its demands from the upcoming budget. Real estate stakeholders therefore look to …

Nearly 2.5 lakh homebuyers to benefit as Amitabh Kant committee recommendations get UP govt nod
1 year ago

Nearly 2.5 lakh homebuyers to benefit as Amitabh Kant committee recommendations get UP govt nod

Hindustan Times  

The Uttar Pradesh Cabinet on December 19 approved the recommendations of Amitabh Kant committee on delayed real estate projects, bringing relief to lakhs of aggrieved homebuyers who have been waiting to receive possession of their homes, some of which are stuck for more than a decade. The Uttar Pradesh Cabinet on December 19 approved the recommendations of Amitabh Kant committee …

Central committee proposes several measures to provide relief to homebuyers in UP. Know all suggestions here
1 year, 5 months ago

Central committee proposes several measures to provide relief to homebuyers in UP. Know all suggestions here

India TV News  

In lieu of several stalled real estate projects in Uttar Pradesh that have adversely affected prospective homebuyers, an expert committee has proposed several measures, such as introducing changes in the insolvency law, to provide relief for builders so they can complete their projects and hand over the buildings to buyers. According to a report by Hindustan Times, the central committee …

Realty stocks plunge 4 pc post budget
1 year, 11 months ago

Realty stocks plunge 4 pc post budget

Deccan Chronicle  

NEW DELHI: Shares of real estate companies plunged 4 per cent on Wednesday after Finance Minister Nirmala Sitharaman announced increasing PM Awas Yojana outlay by 66 per cent to Rs 79,000 crore for the next fiscal year. Shares of Sunteck Realty plummeted 5.67 per cent to close at Rs 345 per share on the NSE, while Indiabulls Real Estate tumbled …

Union Budget 2023: Why real estate sector needs more incentives
1 year, 11 months ago

Union Budget 2023: Why real estate sector needs more incentives

India Today  

The rising construction costs and a hike in the repo rate in 2022 did not dampen consumer sentiments related to the real estate sector. However, the country's real estate sector has been facing a number of challenges in recent years, including a slowdown in demand, a lack of liquidity, and a lack of affordable housing. Boosting Green Building Technology The …

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 …

Union Budget 2023-24: What real estate sector expects from Finance Minister this year
1 year, 11 months ago

Union Budget 2023-24: What real estate sector expects from Finance Minister this year

Firstpost  

The growth of every industry in a nation is dependent on its Budget. Just like every other industry in the country, the real estate sector has its own wishlist for the Union Budget 2023-24. The Indian real estate industry’s market size was valued at Rs $120 billion in 2017 and is expected to touch $1 trillion by 2030, according to …

Project proposals for over 60,000 houses approved under PMAY(U): Govt
2 years, 10 months ago

Project proposals for over 60,000 houses approved under PMAY(U): Govt

Live Mint  

Project proposals for over 60,000 houses were approved for construction under the Pradhan Mantri Awas Yojana in Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Karnataka and Rajasthan, the Ministry of Housing and Urban Affairs said on Tuesday. Earlier this month, Finance Minister Nirmala Sitharaman during the Budget presentation announced an allocation of ₹48,000 crore to build eight million houses. “The total number …

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 …

SC Issues Notice To RBI & Centre In Plea Seeking Relief Measures For Real Estate Sector Amid Covid-19 Pandemic Situation
4 years, 6 months ago

SC Issues Notice To RBI & Centre In Plea Seeking Relief Measures For Real Estate Sector Amid Covid-19 Pandemic Situation

Live Law  

The Supreme Court on Friday issued notice on a plea seeking a relief package for the ailing real estate sector in light of the pandemic situation.A bench of Justices Ashok Bhushan & V. Subramanium issued notice to the Reserve Bank of India as well as the Central Government in the Petition praying for reliefs including waiver of interest during moratorium …

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 …

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, …

Will govt’s rescue plan get you closer to your dream home?
5 years, 1 month ago

Will govt’s rescue plan get you closer to your dream home?

Live Mint  

In what seems to be a course correction, more than a month after announcing an unpopular real estate relief package, the government has come up with a funding plan that may give respite to lakhs of homebuyers stuck in stalled projects. The government’s proposed alternative investment fund, worth ₹25,000 crore, is expected to provide last-mile funding to stalled projects across …

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 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 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 …

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 …

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 …

Budget 2019: Home buyers seek Rs 10,000 crore stress fund
5 years, 6 months ago

Budget 2019: Home buyers seek Rs 10,000 crore stress fund

India Today  

The Forum for People's Collective Efforts has asked Finance Minister Nirmala Sitharaman to create a stress fund of at least Rs 10,000 crore to complete stalled real estate projects within a period of five years. In a letter to the minister with Budget recommendations, the home buyers' association noted that despite the implementation of the Real Estate Act and setting …

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