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Indian Real Estate News
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Sebi clears REIT, InvIT norms; players want clearer tax rules
Source: The Financial Express Aug 10, 2014
While giving property players enough room to float Real Estate investment Trusts (REITs), the final guidelines for these listed investment vehicles, announced by the capital MARKETS regulator on Sunday, also build in adequate safeguards for investors. As such, the minimum size of assets that a REIT must have, to be able to float an initial offer, has been halved to Rs 500 crore from the originally envisaged R1,000 crore; the lower threshold is expected to encourage mid-sized developers to participate. ... more
Credai to work towards ‘Homes for All’ mission
Source: The Hindu Business Line Aug 08, 2014
The Confederation of Real Estate Developers’ Associations of India (Credai) has decided to work towards the theme Homes For All by 2022. The meeting of the apex body representing private real estate developers in the country that was held during August 6-8 laid special thrust on the mission of pucca housing for all by 2022. ... more
Mamata wants to pay less for land near cities
Source: Business Standard Aug 07, 2014
West Bengal Chief Minister Mamata Banerjee, whose agitation over land acquisition for industry catapulted her to power, is reluctant to recompense those losing land at rates set by a central law. West Bengal is yet to implement the Right to Fair Compensation and Transparency in Rehabilitation and Resettlement Act, 2013, the law that replaced the Land Acquisition Act of 1894, on January 1 this year. The new law requires state governments to offer four and two times the market value of land being acquired in the countryside and around towns, respectively. ... more
KMC building rules
Source: The Times of India Aug 05, 2014
Get your facts corrected before you want to submit your building plan before the Kolkata Municipal Corporation for necessary sanction before you begin the construction. And don’t plan to start construction before submitting your plans though the construction may be of minor nature. ... more
Studio apartments: Young buyers' dwelling of choice
Source: The Economic Times Aug 01, 2014
After two years of looking, a Mumbai-based working couple decided that the only way they could acquire a home without compromising on lifestyle was to sacrifice square feet. Also, they preferred to pay equated monthly instalments (EMIs) and build an asset for themselves rather than shell out rent. After two years of looking, a Mumbai-based working couple decided that the only way they could acquire a home without compromising on lifestyle was to sacrifice square feet. Also, they preferred to pay equated monthly instalments (EMIs) and build an asset for themselves rather than shell out rent. ... more
SENTIMENT SURGES IN SECTOR
Source: The Times of India Aug 01, 2014
As sentiment in the real estate sector has started looking up, builders and investors are expecting prices to start improving by Diwali. Knight Frank and FICCI in their June quarter Real Estate Sentiment Index said that while residential launches and sales will continue the good run, prices are expected to go up during the second half of 2014. ... more
Huge shortage in affordable housing
Source: The Times of India Aug 01, 2014
A study says that there is a shortage of 26 million houses in the country in the affordable category with supply very limited because of high land cost, low FSI, and expensive capital. Demand for housing in the country is very high and more than 85% of this comes from house holds of the Economically Weaker Sections (EWS) and Lower Income Groups (LIG). ... 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
Smart Cities: The key TO FUTURE LIVING
Source: The Times of India Aug 01, 2014
Ever since the Modi government tossed around the idea of smart cities, they seem to have become India's new buzzword. After all, in this modern age when everything is supposed to be 'smart'-ranging from shoes to your home and from cars to your mobile phone-why should our cities be left behind, particularly at a time when they have got a solid case for themselves? ... more
Demand drops for affordable homes, up for luxury: PropIndex
Source: The Times of India Jul 30, 2014
With buyers and developers adopting a wait and watch attitude during the Apr-Jun 2014 quarter, the real estate markets across the country remained subdued. This was reflected in the current edition of PropIndex (Apr-Jun 2014). With limited fluctuations observed in the demand and supply matrix, the City Index in different cities remained largely stable except in Delhi. This in turn arrested growth of the National Property Index (NPI), which inched up by just one per cent this quarter. ... more
Residential property sales and prices may rise
Source: Livemint Jul 30, 2014
Sentiment seems to have turned positive in the real estate market. The most recent Ficci-Knight Frank Real Estate Sentiment Index of April-June 2014 underscores this. The index, based on a survey base of 150 industry respondents across India, increased six points to a level of 69 in the second quarter of 2014. ... more
Tata Housing joins hands with Keventer in Kolkata
Source: The Hindu Business Line Jul 30, 2014
Real estate arm of the Tata Group, Tata Housing has added to its land bank of locations through a joint venture with Keventer group for a 3-acre land parcel at New Alipore in Kolkata. The company’s idea is to create ultra-luxury projects across prime locations in major metros across the country. ... more
Choosing a good real estate agent who fits your luxury
Source: The Times of India Jul 23, 2014
There are several independent ways of getting a good buyer (or seller) but a good real estate agent is a professional whose expertise can add extra value to your search. ... more
Where to invest in Kolkata with modest budget
Source: The Times of India Jul 22, 2014
Home buyers in Kolkata have reason to cheer. With a modest budget, they can go in for newly constructed homes within Rs 20 lakh in localities that boast of location advantage, sizeable returns and proximity to their work areas. ... more
Location is key for ultra luxury homes
Source: The Economic Times Jul 21, 2014
Many developers are trying their best to create new zones and addresses across India that can appeal to HNI (High-net-worth individual) property buyers. This endeavour has met with varying degrees of success on the ground when it comes to swaying the ultra-rich clientele. Barring upgrades in design concepts and the addition of some new accoutrements to amplify a luxury lifestyle, the baseline concept of luxury homes has not materially changed in many cities. ... more
Individual 'can buy' immovable properties aboard under LRS
Source: Business Standard Jul 17, 2014
The Reserve Bank of India (RBI) clarified on Thursday resident individuals can buy immovable properties outside the country under the Liberalised Remittance Scheme (LBS). Under the scheme, remittances of $125,000 per year was allowed by the regulator last month, which was increased from the earlier $75,000 per year. The central bank had reduced the limit from $200,000 last year as the rupee weakened sharply against the dollar. ... more
Affordable housing to be cheaper, thanks to RBI
Source: The Times of India Jul 17, 2014
Sentiments across the real estate sector echoed in unison that implementation is the key for the excellent budget proposed by the Finance Minister this month. Just days after the budget day, RBI has taken the first step towards implementing one of the most pressing issues - affordable housing! ... more
More than 10 companies line up to start REITs
Source: Hindustan Times Jul 15, 2014
In the wake of the budget proposal last week, several real estate companies and private equity funds are planning to list their commercial property portfolio through the real estate investment trusts (REITs) in the near future. These include Embassy group, DLF, RMZ Corp, Xander, Red Fort Capital among others, all of which have accumulated income generating commercial assets. ... more
Realtors hail RBI move to ease norms for affordable housing
Source: The Economic Times Jul 15, 2014
Realtors' body CREDAI today hailed the RBI's move to ease norms for banks to raise long term funds for financing affordable housing, saying this will lead to cheaper credit for such projects. In order to encourage infrastructure development and affordable housing, RBI today exempted long term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of such projects. ... more
Budget 2014: Glass half full for real estate
Source: The Times of India Jul 13, 2014
As the much-awaited Union Budget 2014-15 got tabled in the parliament, the real estate sector was left in the lurch as some of its expectations were fulfilled, while some were left out. “Finance Minister Arun Jaitley’s maiden budget was a glass half empty and half full with hope. However, some expectations are left out,” says Lalit Kumar Jain, chairman, CREDAI while describing the budget. ... more
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