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Modi's Budget to address India's urban challenges
Source: The Times of India Mar 03, 2016
The dynamic Budget session has routed attention to concerns outside the circle of Affordable Housing as well. Under the pressure to ensure an overall growth - rural development; infrastructure; connectivity; and retail expansion have finally received their due credit. ... more
There is immediate need to bite the bullet
Source: Financial Chronicle Feb 26, 2016
With global headwinds growing stronger and India’s economic recovery still somewhat tentative, the upcoming Budget could be the perfect trigger to enhance the pace of recovery. Towards this end, the government should pay special attention to the real estate sector, considering the pivotal role it can play in the Indian economy. ... more
Infra status for realty should top budget agenda
Source: Financial Chronicle Feb 26, 2016
Upcoming proposals are important because of lack of actionable steps on big schemes like '100 smart cities' For the real estate sector, 2016 is the year when hopefully, things take a turn for the better. Both developers and prospective homebuyers, especially those who have been waiting on the fence for prices to bottom out, will look forward to a positive and investment-propelling Budget. ... more
What makes a city smart?
Source: The Times of India Jan 28, 2016
What makes a city, a great place to live and work in? The question is pertinent, given that by 2030, 5 billion people - or about 60% of the world’s entire population - will live in cities. For countries like India and for the leaders who govern this country and plan our cities, not only accommodating the huge inward migration from the urban areas but also a life worth living has become a huge challenge. ... more
Cabinet nod for Realty Bill changes clears way for regulator
Source: The Hindu Business Line Dec 10, 2015
The Union Cabinet on Wednesday approved several amendments to the Real Estate (Regulation and Development) Bill, 2015 aiming at protection of interests of buyers as well as promoting investments in the sector. ... more
Good news for home buyers! Nod for amendments to Real Estate Bill
Source: The Times Of India Apr 09, 2015
The Union Cabinet has approved the Real Estate Development and Regulation Bill along with certain key amendments that will make way for setting up of a regulator for the sector. The Bill and a uniform regulatory mechanism across the country are aimed at protecting property buyers' interest by bringing in much-needed transparency and accountability into the sector. ... more
Land Acquisition Bill likely to be passed this week: Minister
Source: The Hindu Business Line Mar 16, 2015
Environment Minister Prakash Javadekar today expressed confidence that the amended Land Acquisition Bill will be passed by the Rajya Sabha this week. He said two others bills, the Coal Bill and the Mines, are also likely to be passed by the Upper House next week. ... more
Lok Sabha clears Land Acquisition Bill
Source: Business Standard Mar 11, 2015
The Lok Sabha on Tuesday cleared the contentious land acquisition Bill, along with nine amendments proposed by the government. Though these amendments convinced some National Democratic Alliance (NDA) partners to come on board, they failed to appease the Congress and most other Opposition parties, which walked out at the time of voting on the Bill. ... more
Source: The Times of India Jan 17, 2015
To attract funds into the realty sector and achieve the objectives of faster job creation and housing for all, the NDA government has moved fast and relaxed foreign direct investment (FDI) norms. The new norms dropped the minimum 10-hectare cap for serviced housing plots and slashed the minimum floor area for construction of realty projects to 20,000 sq metres, from the earlier limit of 50,000 sq metres. ... more
Finance Minister Arun Jaitley hints at making changes in land acquisition law
Source: The Economic Times Aug 25, 2014
Congress-ruled states have petitioned the new Narendra Modi government on the United Progressive Alliance ( UPA) government's land acquisition law reinforcing the widespread criticism of the new law that has practically stalled all land acquisition. "I have met a number of leaders of the last government who (are) very critical of the land bill... including Congress chief ministers who are now realising...," finance minister Arun Jaitley said, indicating the government may be inclined to changes. ... more
Deputy governor R. Gandhi says Reserve Bank of India tweaking policies for affordable housing
Source: The Economic Times Aug 20, 2014
The Reserve Bank of India (RBI) is tweaking its policies recognising the need for affordable housing and other essential real estate sectors, Deputy Governor R. Gandhi said on Wednesday. The RBI will also periodically review the definition of affordable housing to account for inflation, Gandhi said in his address at an industry event. ... more
Budget will kick-start investments IN REALTY SECTOR
Source: The Times of India Aug 01, 2014
The focus of the new government on growth-oriented policies for India's real estate sector is appreciable and the maiden Budget of the NDA government is widely expected to put this intent to action on the ground. ... more
Credai favours lower interest rate regime to boost housing sector
Source: The Hindu Business Line Apr 01, 2014
The Confederation of Real Estate Developers’ Association of India (Credai) today urged the Government to focus on development of the housing sector by reducing interest rates. Reacting to the credit policy, C. Shekhar Reddy, President Credai-National, said, “The real estate sector has been faced with high input costs, high cost of funds and a moderate demand over the last few months. The sector has been ignored and needs immediate focus to build confidence. ” ... more
Infrastructure spending raised 8.6%
Source: Business Standard Feb 17, 2014
In the interim Budget for 2014-15, Finance Minister P Chidambaram has raised allocation towards the infrastructure sector by as much as 8.6 per cent. The government will allocate Rs 1,81,134 crore to the sector, comprising power, coal, roads, civil aviation, ports and railways, against Rs 1,66,756 crore in 2013-14. ... more
Moily eases state-level green clearance norms for industry
Source: The Economic Times Dec 26, 2013
The environment ministry has eased the environmental clearance process for industry, particularly at the state level. In some projects relating to mining of minor minerals, river sand mining, thermal power plants with less than 5MW capacity, the ministry has done away with the mandatory environmental impact assessments and public hearings. ... more
Using FDI to buy farm land: Govt plans more consultations
Source: The Hindu Business Line Dec 22, 2013
The Government plans more inter-ministerial consultations on allowing foreign direct investment (FDI) for purchase of agricultural land for construction development projects. Discussions likely The Ministers of Urban Development, Finance and Commerce & Industry are likely to meet to examine the matter in the light of Foreign Exchange Management Act (FEMA) regulations and see if they can be incorporated in the amended FDI policy for the construction development sector, an official from the Department of Industrial Policy & Promotion (DIPP) told Business Line. ... more
B-khatas registration to resume, fetch revenue to BBMP
Source: The Times of India Nov 14, 2013
Even as there is slump in the property registration resulting in decline in revenue, the state cabinet on November 13 decided to allow transaction and registration of properties of B-khatas (title deeds) in BBMP limits. ... more
Government relaxes outsourcing norms for manufacturing units in SEZs
Source: The Economic Times Oct 31, 2013
Manufacturing units in SEZs can now sub-contract work for up to three years, instead of just one year allowed so far, as the government has relaxed the norms to help boost shipments from special economic zones. The request for relaxation came from large manufacturing units which have stated that the move would help facilitate manufacturing processes and augment exports. ... more
"Government to appoint real estate consultants to develop affordable housing policies"
Source: Realty Plus Mag Oct 24, 2013
With a view to give a fillip to the affordable housing segment, the government will appoint real estate experts and consultants to develop state-specific affordable housing policy, Arun Kumar Misra, secretary, ministry of housing and urban poverty alleviation (HUPA) said at an ASSOCHAM event held in New Delhi. ... more
Govt mulls easing FDI rules for construction development
Source: Business Standard Oct 07, 2013
DIPP wants sector activity to include townships, infrastructure and housing ... more
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