Ansal Housing
Experts Believe RBI Repo Rate Cut To Boost Real Estate Market Sentiments – RealtyMyths
Moving on the expected lines, the Reserve Bank of India (RBI), country’s apex bank, today reduced the Repo Rate by 25 basis points. This way, RBI reduced the key lending rate for the second time in a row, bringing it down to 6%. RBI also cut the reverse repo rate by 25 basis points to 5.75%. The move is going to have a direct impact on the bank’s interest rates. All the banks are expected to reduce their lending rates significantly. This will lower the EMI burden on home loans for many. It is, therefore, that the experts are calling it as the ‘perfect start’ of the financial year for the real estate sector. “Back-to-back repo rate cuts by the RBI are indeed the perfect start to a new financial year, resulting in overall reduction of 50 basis points since Febru...
Real Estate Gets Double Dose Of Happiness, Hails RBI’s Repo Rate Cut After Budget Bonanza
In an unexpected move, at least the market experts would agree to it, the Reserve Bank of India today cut the key Repo Rate by 25 bps, bringing it down to 6.25 percent. RBI was doing the 6th bimonthly monetary policy review, and first under its new Governor Shaktikanta Das, who replaced Uriji Patel after the latter’s sudden exit from the post. With this rate cut, the Apex Bank also changed its policy stance to “neutral” from “Calibrated Tightening” as inflation continued to remain under 4 percent target since last 4 quarters. Clearly, the market cheered for the rate cut as it was first rate cut after April 2017. Moreover, the market is still in the budget hangover, last Friday the government announced many soaps that would bring positive impact to the market. ...
Finally a big win for Home Buyers – Rajya Sabha passes the Real Estate Regulatory bill
Souma Mukherjee/RealtyMyths The passing of the long-pending Real Estate Regulatory Bill, which was being hotly debated and second-guessed for far too long, is an unequivocal victory for the Indian real estate sector. Its enactment as a law will almost single-handedly revamp the way this sector works across the board, from developers to end-users and investors, to lending institutions and government agencies involved in the buying and selling of property. It is by far the most decisive step the sector has taken towards transparency and reaching towards the kind of standardized processes, procedures and accountability guidelines that the industry requires to progress. Industry Reacts: Anuj Puri, Chairman & Country Head, JLL India shares, the real estate industry welcomes the major refor...
Union Budget: What’s there on cards for Real Estate!
Santosh Sinha/RealtyMyths As the Union Government is scheduled to announce budget for FY 2016-17, everyone is hoping for the good for themselves. So is the Real Estate sector which is currently crawling due to various reasons. It, therefore, becomes interesting to see what Honb’le FM Shri Arun Jaitley has to bring on table for the sector Union Budget is one of the most important events in the Indian economic calendar. Not only the businessmen but every Indian eagerly awaits the budget speech where the Finance Minister makes various fiscal and monetary policies announcements affecting individuals and industries. At a time when investors across the world are looking at India with great hopes, the occasion becomes even more significant for the sectors who are eyeing these global investors. On...
Real estate sector gets its first 20 smart cities in the ‘Smart City Challenge Mission’
In an exclusive press conference held at New Delhi, chaired by the Minister of Urban Development Shri M. Venkaiah Naidu, 20 urban areas of the country have been declared to be revamped into future Smart Cities. Out of the 98 cities declared back on 25th June, 2015, 97 cities had made it to the ‘Smart City Challenge Mission’ out of which 20 have been finally chosen in its phase 1. On the basis of the ‘marks’ achieved, 20 declared cities in the descending order are as follows: Bhubaneshwar, Odisha Pune, Maharashtra Jaipur, Rajasthan Surat, Gujarat Kochi, Kerala Ahmedabad, Gujarat Jabalpur, Madhya Pradesh Visakhapatnam, Andhra Pradesh Sholapur, Maharashtra Davangere, Karnataka Indore, Madhya Pradesh New Delhi Municipal Council Coimbatore, Tamil Nadu Kakinada, Andhra Pradesh Belagavi, Karnatak...
Customers hard earned money on stake with the increasing presence of fresh entrants
Real estate sector has been one of the most unorganised sectors of the Indian economy and the situation has only worsened over the years due to the ever increasing presence of fresh entrants. Eventually, it is the end user who is taking the final hit because it’s them who have invested their hard earned money. Customers put in their savings or take over additional loans, but this decision is usually taken in a hurry without proper checks and verifications, hence the trouble. Also, they need to payout their current rentals, pledge the fixed EMIs against the loans borrowed, etc. which adds to the mess. With no promise of delivery, no time frame disclosed on the progress of work, no details divulged on the work style of the developer, but still there is an investment which has now turned into...
Gateway for key real estate regions of Delhi NCR
Recently, Honourable Prime Minister of our country, Shri Narendra Modi today launched a mammoth Rs. 7,500 crore project for the widening of Delhi-Meerut Expressway and replace it with an expressway to decongest the National Capital and nearby regions. The alignment of Delhi-Meerut Expressway will begin from Nizamuddin Bridge from Delhi and continue on the existing NH 24 upto Dasna, which will length to about 30.38 Kms. Between Delhi and Meerut there is only one route at present, NH 58, on which traffic remain jammed at several places. The project is estimated to be completed in 30 months. The entire project is proposed under four packages with the three packages Nizamuddin Bridge to UP Border, UP Border to Dasna and Dasna to Hapur project cost at Rs. 2,809.60 crore. The fourth package will...
Smoother 2016 in sight for Noida and Greater Noida Market
Team RealtyMyths Being one of the prime contributors towards Indian GDP and employment generation, a lot is always expected out of the real estate sector. This sector alone is responsible for being a user for over 30 allied industries and sectors. As we bid a goodbye to 2015 and gear up for 2016, a lot has changed since the beginning of this year where several major announcements were made for infrastructural developments and the country in general that will highlight realty sector as its backbone. Much was delivered during the course with still some left in pipeline for the next year. ROLLER COASTER RIDE IN 2015 Year 2015 began quite well riding high on positive market sentiments due to current government’s enthralling victory back in 2014. Since then, a lot was expected out of them to as...
Realty gets considerate towards climate
With the onset of global industrialisation back in the 18th century, gradually came a time when the demand for its final product, ‘Real Estate’ started to catch up pace. As real estate rose in demand, providing its supply began to create environment damaging residual in the form of deadly ‘emissions’. Although, with an enthralling support that our country received at the Global Climate Summit 2015 in Paris; India is all set to go green in ways of future development where realty sector is all set to be the prime contributor. “There is no denying in the fact that preparation of raw materials and finally, the entire construction process discharges vicious residuals that can harm the environment. Since industrialisation and emergence of real estate industry, there has been no looking back in t...
Why GST makes sense for Real Estate
“Goods and Services Tax” would be a comprehensive indirect tax on manufacture, sale and consumption of goods and services throughout India, to replace taxes levied by the Central and State governments. GST would be levied and collected at each stage of sale or purchase of goods or services based on the input tax credit method. This method allows GST-registered businesses to claim tax credit to the value of GST they paid on purchase of goods or services as part of their normal commercial activity. Real estate, being one of those sectors where repeated transactions happen on a regular basis, certainly requires GST. One of the major issues that GST can address is to present this sector with uniformity of tax practices. There have been countless instances where duplication and mult...
Realty sector answering the security concerns
What is the purpose of owning a house when it is not secured? What is the purpose of owning a house when you can’t get mental peace? What is the purpose of owning a house when your money is bound to go waste? Providing houses to public is one aspect of fulfilling the duty, but what is the purpose of providing houses without proper safety and security measures? Housing sector in India is extremely vast which has been rising in demand due to ever-growing population. Thus, answering the housing needs is incomplete if sound security and safety of residents is not taken into consideration. “Real estate sector in India has always been on the wrong side of the news due to various negative incidents that have taken place over the years. Although, with technological advancements, this sector has su...
RBI maintained its status quo
In a much anticipated and steadied move, the RBI kept rates unchanged today in its last bi-monthly policy review for the calendar year. The key rate (Repo Rate) remains at 6.75 percent, Reverse Repo Rate at 5.75 percent, Cash Reserve Ratio (CRR) at 4 percent and Statutory Liquidity Ratio (SLR) at 21.5 percent respectively. Since its first policy review for this year back in January, the apex bank had reduced the key rate by 125 basis points or 1.25 percent allowing a significant room for the banks to reduce lending rates for the buyers. Mr. Pradeep Aggarwal, Chairman, Signature Global reacting to today’s Monetary Policy Review, “Following the surprise 50bps rate cut in September, it was expected that RBI would maintain a status quo. However, in the context of recent amendments...
