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

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Corporate Tax Cut Will Boost Market Sentiment

by Santosh Sinha In continuation to government’s efforts to bring the economy back on the growth track, Finance Minister Nirmala Sitharaman today proposed to slash the corporate tax rate for domestic firms and new domestic manufacturing companies. As per the new announcement, the current corporate tax rate has been brought down to 22% from 30%. The effective tax rate will be 25.17% inclusive of all surcharges and cess for such domestic companies. For new manufacturing companies, the existing tax rate of 25% has been brought down to 15%. The effective tax rate after surcharges and cess will be 17%. This is a huge boost to the corporate sector. A sudden surge of more than 1600 points at Sensex testifies market’s mood over this announcement. As per some of the economists and marke...

Modi’s ‘Housing For All’ Receives Big Boost at NAREDCO’S 15TH National Convention

“Providing a house with basic amenities is the topmost priority of the government led by Prime Minister Shri Narendra Modi for which all stakeholders of the real estate sector need to make their contribution. In this context, I compliment NAREDCO for taking up a very pertinent agenda for its deliberations during its national convention,” said G Kishan Reddy, Union Minister of State for Home Affairs, speaking at the 15th National Convention of NAREDCO organised on the theme Housing For All 2022: Real Estate Inflection Point: Readying for the Future. He said that to meet this challenge, infrastructure needs to be built on a war footing in both cities and villages. As the pace of urbanization is rising in the country that boasts the second-largest urban population in the world, efforts need t...

The REAL-TY of Real Estate: Buyers Still Face Difficulties

by Mohit Bhambari  The data analytics companies of real estate released information that the topmost developers are replacing small players in India because obviously homebuyers need quality and they choose those developers who have a good past record, hence because of this, 50% of the small developers are facing tuff situations and some even left the market or some joined hands with the larger developers. The most affected are Chennai, Gurugram, Noida, Kolkata, and Bengaluru. The unorganized players are less experienced so they are unable to cope up with the ongoing market issues like demonetization, land banking, etc. Yet there are so many options to choose from, you may literally find it impossible to distinguish one property from others, you may end up making a wrong choice and that is...

India’s Growing Digital Infrastructure and its Future – RealtyMyths

by Anushree Ghosh In recent years, the usage of internet has augmented rapidly. Also, the amount of time an individual spends online has also amplified. According to a report by The National Digital Communication Policy (NDCP) 2018 – ‘an average user spends around 6 hours each day using internet devices and services.’ The same report also states the following: Over a billion Indians are connected wirelessly. 96% of internet users connect through their mobile. Rural India constitutes nearly 40% of internet users. In 2017, India consumed over 2,360 PB of data – highest globally. Role of government in digital transportation Government’s policies have played a key role in changing India’s digital scenario. Many decisions taken by the government proved to be beneficial for the growth of digital...

Real Estate Budget Wish List – Address the Liquidity Crunch

by Dr. Niranjan Hiranandani New MODI 2.0 government is all geared to set the ball rolling with its first union budget presentation on 5th July. With this, the Indian real estate sector builds the wish list in anticipation to give much-required impetus to the slow-moving sector. Real estate is highly labour intensive with huge employment generation of nearly 14% of the total employment. It is one major sector contributing towards the country’s GDP growth of nearly 7%, beyond providing a basic shelter above the roof to all its citizens. Expectations from industry stakeholders revolve primarily around redressing liquidity crunch- an oil of India’s growth engine. The choking of liquidity is taking a toll on the health of companies and further inflicting financial damage. Quick corrective steps...

Dr Niranjan Hiranandani: Housing Schemes to Fuel Employment & Economic Growth – RealtyMyths

Citing a study reference, National Real Estate Development Council’s National President Dr. Niranjan Hiranandani told  that as per the findings of the study conducted by the National Institute of Public Finance and Policy, it has estimated that while 18.92 lakh direct jobs would have been created due to massive push for building houses under the government’s flagship scheme, another 42.57 lakh jobs would have been created through indirect effects. The report also said that the increased pace of house construction has multiple effects on the allied industries such as cement, steel and other construction materials. Terming the study and its observations as ‘positive’, Dr Hiranandani said that housing has always been important for India’s economy over the years, as it offers visible results t...

Housing for All: Promises and Facts – RealtyMyths

by Anushree Ghosh, The Pradhan Mantri Awas Yojana was introduced by PM Narendra Modi on June 1, 2015. The scheme was meant to provide affordable housing to all the urban poor by 2022. The beneficiaries included Economically Weaker Section (EWS), Middle Income Group (MIG) and Low Income Group (LIG), with their respective income slots being— up to 3 Lakhs, 3-6 Lakhs and 6 – 18 Lakhs. The scheme catered to the selected cities and construction was meant to be as eco-friendly as possible. The other goal was to address the following demographics: widows, transgender, senior citizens, differently abled, and specifically lower income group who are greatly in need of houses. Promises were made by the government regarding “Housing for all” till 2022. Houses up to 30 square meter carpet area we...

Agriculture Infrastructure: How Did Modi Perform! – RealtyMyths

by Akhilesh K Prasad, In 1950, the agriculture sector contributed 51.9 per cent to India’s total GDP. Currently, that share has declined to a low of around 13.9 per cent. While some believe it is an inevitable progression as the economy shifts from being agrarian-centric to industry-centric, the significance of the agriculture sector cannot be undermined. While 60 per cent of the country’s population was dependant on agriculture as a source of livelihood in the 1950s, around 50 per cent still depends on it despite dwindling returns. Infrastructure costs are higher. Maintenance costs and capital investments are hardly manageable by farmers today. The recovery rate of investments is said to be a paltry 30 per cent. Needless to add, that agriculture is no longer a profitable sector. With an a...

Is real estate only about affordable housing? – RealtyMyths

by Akhilesh k Prasad The real estate sector contributes 6-7% of the GDP and employs over 50 million people currently. While it stands as the second largest employer as of now, it is expected to generate 50-60% jobs in the next 5 years. In this respect, the real estate industry is significant for the overall growth of the Indian economy. In the last couple of years, the government has implemented some important policy decisions such as Goods and Services Tax (GST), Real Estate Regulation (and Development) Act 2016, Benami Properties Act and demonetization. These decisions were initially received with knee jerk reactions. But now that the dust is beginning to settle, we are looking forward to a more transparent, corporatized industry in keeping with global best practices that boost investor ...

Weekly News Roundup

Welcome back viewers and here are the weekly real estate and city infrastructure updates for you. Let’s start this week’s update from the Urban real estate. Real estate in India’s urban areas will reach about 8.2 billion sq. Ft. by 2025 and the role of the real estate sector to India’s GDP will be around 13%. Execution of the GST has stabilized the cost of raw materials and streamlined inter-state and import tax, giving the industry a major enhancement. Coming to the update from Supreme Court, on Wednesday SC appointed NBCC to construct stalled projects of Amrapali Group and directed the Debts Recovery Tribunal to sell the unencumbered commercial properties of the real estate firm. News from Pune, The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed local civic bodies t...

The Diminishing Corporate Investment into the Economy – Is it to do with Corporate Governance!

The Narendra Modi led Union Government is just a month away from presenting its fourth Union Budget. Riding on the reformatory waves it laid last year, the government is again expected to unleash more such policy amendments this year as well. However, one of the biggest challenge for the Union Government, currently, is the decreasing corporate investments into the economy. In the last quarter of the calendar year 2017, the corporate investment in Asia’s third-largest economy slipped to its lowest level in nearly 13 years. Considering the fact that India’s core sector growth is at a 13-month peak and the country’s GDP has also un-shadowed five quarters of decline, a negative growth in private investment will pinch the government. As per the data released on January 2nd this year from ...

One Year of Demonetization: The impact on the real estate market

by Anuj Puri, With respect to property sales, the secondary market was obviously highly susceptible to demonetization as compared to the primary market. Property transactions in the secondary sales and luxury housing segments tended to have significant cash components, and such sales have been hampered significantly due to demonetization. In contrast, demand for affordable and mid-segment housing has been on a rise. Watch the preview of the impact of Demonetization Initiatives such as interest waivers on the home loans, the Government’s push for affordable housing through the Pradhan Mantri Awas Yojana (PMAY) and the ‘Housing for all by 2022’ mission have come to the forefront over the past one year. Various policy initiatives, amendments, and reforms were all aimed at making the real esta...

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