Latest Real Estate News Delhi, India - Real Estate market in india

Budget 2019

What Real Estate Expects From The Union Budget 2019

Ms. Nirmala Sitharaman, the new finance minister in Modi Government is set to present her maiden budget on July 5, 2019. And clearly, her focus would be to pull up the GDP growth rate up to 7.5%, as expected by the World Bank. Generating employment is the next issue that the government wants to tackle. And to do so, she would have to bring in some reformatory and corrective measures to the Housing, Agriculture and the Infrastructure sectors. The housing sector, in particular, holds the key. There are expectations that the Modi government would continue its reformatory mode to bail out the ‘long-forgotten’ sector. During its first term, the Modi government had introduced major reforms such as Real Estate (Regulation and Development) Act, Goods and Services Tax (GST), Insolvency ...

Real Estate Budget Wish List: Pass on tax benefits to boost large-scale housing development

by Anshuman Magazine The Indian realty sector expects some more favorable SOPs and policies to be introduced by the newly re-elected government in this Union Budget 2019-20. Riding on strong regulatory mechanisms introduced in the previous term such as RERA (Real Estate Regulatory Authority Act), GST (Good and Service Tax) and Insolvency and Bankruptcy Code (IBC) and numerous initiatives for the affordable housing sector, the realty sector has made great strides and has witnessed an improvement in overall industry performance. While the Modi-led government in its last term had introduced several reformative measures with the overarching aim to revive the sector, some measures are still awaited with respect to mitigating impending challenges related to fundraising, capital, and liquidity. I...

Real Estate Budget Wish List: More Tax Benefits Needed To Generate Demand

by Anuj Puri With the Modi Government taking full charge, all sectors have pinned high hopes from the finance minister – who is already saddled with multiple issues including the slowing economy, liquidity crunch due to NBFC crisis, lack of job creation and rising NPAs, among others. Without compromising on fiscal prudence, the Finance Ministry will have to present a budget that is not only inclusive but also assures growth across industries. It clearly shoulders a considerable share of responsibility for retaining India’s position as the fastest-growing economy. Since real estate is one of the major contributors to the GDP growth and can help the government resolve the shortfall in job creation quite a bit, it is naturally expected that the upcoming budget will help the industry. Be...

Impact of Interim Budget 2019 on the Retail Sector – RealtyMyths

by Anushree Ghosh Review & analysis of the interim budget for the retail sector Introduction to the interim finance budget, impact on the rural and lower-middle-class segment, increase use of consumer-driven goods, benefits to small and middle-sized enterprises, future impacts and the central thought behind introducing exemptions to a great degree. The interim budget 2019-20 was a political stroke to chase the rural and middle-class voters. The upcoming general elections seem to define the limits of the taxpayers, aimed to woo the voters.  Finance Minister Piyush Goyal announced the course of action required to foster the growth of private consumption. Focusing on the current scenario, when the customer is much more evolved than before, the customer-driven retail segment expects a lot ...

Budget 2019-20 Neglects Commercial Real Estate – RealtyMyths

by Akhilesh K Prasad Budget 2019-20 has been hailed as a blessing for home buyers and residential real estate developers. It has provided a good mix of direct and indirect incentives, especially with respect to affordable housing in keeping with the government’s flagship initiative of ‘Housing for All by 2022.’ Income tax exemption, an extension of benefits u/s 80-IBA, exemption of tax on notional rent an extension of roll-over benefits on capital gains to two properties were the salient announcements in this direction. However, the same Budget has been criticised by experts for neglecting commercial real estate market in India. Co-working space is considered a booming segment in realty. There was no announcement to bolster this segment even in planned smart cities. While the government an...

Budget 2019: Does it favour the real estate market?

It was a moment of cheer for the real estate sector when India’s Interim Finance Minister presented the Interim Budget 2019 on February 1, 2019 in the Parliament. And why not, the real estate, once again, got many mentions during the budget speech. There were many soaps for the developers, the investors and the end consumers.  Affordable Housing, like last year, got further boost with Section 80(i)AB being extended by one more year. To get the developer’s perspective and why the industry should be happy after this budget, team RealtyMyths interviewed Mr. Palash Aggarwal, Director, Techman Group. Listen him as he explains the hits and misses of the Union Budget 2019.

Only 9% of Current Unsold Housing Stock Benefits from Tax Relaxation – RealtyMyths

Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants Just 63,000 ready units currently benefit out of total 6.73 lakh units across top 7 cities Nearly 22,000 ready unsold units completed before 2017 don’t benefit from the new rule 33% of 5.88 lakh unsold under-construction units in the luxury segment – 49% in MMR – will not benefit immediately Just when the real estate industry was preparing to give the budget a complete thumbs down, the finance minister sprung a surprise ‘bonanza’ for the sector in the last 10 minutes of his speech. Or so it seemed. Without a doubt, affordable housing gained amidst what was essentially a mass-appeal budget. However, it was the extension of tax relaxation on notional rent for unsold inventory for another year that cheered develope...

Commercial Real Estate Trends in 2019: a Forecast – RealtyMyths

by Akhilesh K Prasad The year 2018 saw the commercial office market emerge as the frontrunner in a market that has, in the last couple of years, witnessed revolutionary changes in terms of legislation. The implementation of the Real Estate Regulation (and Development) Act, Real Estate Investment Trusts, GST and demonetization at break-neck speed, gave a few hiccups. But the market has now started riding the growth curve once again. That perhaps is the biggest take away from 2018. In all likelihood, this trend will continue through 2019. Our forecast for commercial real estate in 2019 is based on the following commercial real estate trends: REITs: The implementation of Real Estate Investment Trusts or REITs is expected to prove a major fillip to commercial real estate in India. As witnessed...

An Infrastructure status or a cut in GST Rate, what Lies in the Interim Budget for Real Estate? – RealtyMyths

It’s that time of the year when every sector of the country gets full of hopes and aspiration. Yes! It’s almost time for the Interim Budget 2019. On 1st February, the government will present the Interim Budget 2019 in the Parliament. Like every other sector, Real Estate sector has its own expectations. The sector is facing many challenges due to stagnant demand, which got further intense post the NBFC crisis. As the industry is working towards bringing around the demand, a little push from the Union Budget, which is indeed the burning requirement, will lend a helping hand to the realty estate sector. A cash crisis is expected by the property advisors in order to endure in the real estate sector. In the pre-Budget recommendation, FICCI suggested that there should be an increase in income ta...

Union Budget Expectation for Indian Real Estate In 2019 – RealtyMyths

Mr. Rakesh Reddy, Director, Aparna Constructions & Estates For the upcoming Union Budget 2019, the Indian real estate sector will be looking forward to measures that will increase demand, lower costs for developers and bolster momentum moving forward. The past two years have seen numerous policy changes that have significantly impacted the real estate sector including RERA, GST and affordable housing. These reforms have changed the core of how the sector conducts its business. While these changes have invariably caused short-term challenges, the real estate sector expects more stability and growth over the long term, especially with the Government’s support. Expectations for Union Budget 2019 include initiatives that will revive the market and consolidate the reforms of the previous ye...

Expectations of Power Sector from Budget Session 2019-20 – RealtyMyths

Unavailability of coal is one of the primary reasons for stress in thermal generation. We expect the Coal Ministry to lay down a specific timeline and an intensive budget to ramp up coal production of CIL and its subsidiaries to meet sector demands. It would also lead to decrease in import dependency in the long run until the taxes on imported coal which is 5% should be reduced to half so that demand of thermal coal is met at lower landed cost. Seeing the boom in renewables and now that India has a fairly large capacity addition in solar and wind, clean energy cess which is around Rs 400/Ton charged on coal, can be considered to be brought down to Rs100/Ton given the current scenario of stress where, cost of coal has gone exorbitantly high on account of high premium paid in e-auctions/spec...

Union Budget 2019-20: Expectations for real estate sector – RealtyMyths

The real estate industry has been facing some rough weather given the tough demand environment, which got aggravated further with the recent NBFC crisis. While the industry undertakes measures to revive demand, a much-needed impetus from the Union Budget will go a long way in helping turnaround the fortunes of the sector. Considering the current set of challenges, here are a series of recommendations that we believe will help the cause of the real estate sector in general and housing demand in particular. ‘Industry Status’ to real estate Real estate is one of the major contributors to the economy supporting various ancillary industries and providing employment to millions directly and indirectly. Growth in real estate has a multiplier effect on the economy. Despite such strong fundamentals...

Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.