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Goods and Service Network (GSTN)

RERA Act completing 2 years and its influence on the real estate industry – Knight Frank

By Gulam Zia Executive Director – Valuation & Advisory, Retail & Hospitality Knight Frank India One of the biggest, and arguably the most called for, reforms in the real estate industry in India was the implementation of RERA nearly 2 years ago. While the debate had been on for nearly a decade on regulating the highly opaque industry, the challenges of bringing it within the ambit of regulation were multi-fold. Let alone the reluctance on part of the key players, the overall machinery to manage the process was fraught with numerous challenges. In the backdrop of a regime change at the centre in 2014, which placed its bets on ‘Housing for All’, among other things like urbanization-themed ‘Smart Cities Mission’, it became imperative for the industry to bring itself under the am...

CBRE says India’s Real Estate Stock will grow by 200 mn sft in 2019 – RealtyMyths

Policy reforms across sectors in 2018 led to a tremendous improvement in India’s ‘Ease of Doing Business’ ranking; India remains the fastest growing major economy in the world 2018 saw 47 million sq. ft. of office space uptake, dominated by Bangalore, Delhi-NCR and Hyderabad. The trend to continue in 2019 with evolving landlord occupier relationships to be the enablers of change Retail activity maintained a healthy demand-mix across various brand categories; strengthened by the completion of nearly 5.1 million sq. ft. of investment grade supply in 2018. Despite the tightening of FDI norms in e-commerce, omnichannel will continue to reinvent retail formats in 2019 The logistics sector picked up on the back of GST implementation and granting of ‘infrastructure status’; absorption levels touc...

GST council gives a reason to smile: Developers – RealtyMyths

The Goods and Service Tax (GST) council has offered a big relief to the Indian real estate industry in its 34th meeting held recently.  It has allowed developers, for under construction properties up to March 31, 2019, to choose between the old GST rates of 12% with ITC or opt new GST rate of 5% without ITC. The GST Council in its 33rd meeting on February 24, 2019, had come up with new rates for housing units. GST will be levied at an effective rate of 5% without ITC on residential properties outside the affordable segment, while GST shall be levied at an effective rate of 1% without ITC on affordable housing properties. By announcing this, the council has a side-stepped conflict between the developers and the home buyers. It is also hoped that the announcement will bring more transparency...

ANAROCK Launches Dedicated Operations in Abu Dhabi – RealtyMyths

To expand next into Oman, Bahrain, Saudi Arabia and Kuwait More than 50% of NRIs living and working in the UAE have interest in Indian realty; top investment cities are Bangalore, Mumbai, Delhi NCR, Hyderabad, Chennai & Kochi In ANAROCK’s Consumer Sentiment Survey, NRIs from the GCC countries comprised maximum share with 36% (followed by 23% from Western Europe, 22% in Asia and 19% in North America) NRI investors have a higher appetite for under-construction properties than resident Indians; higher focus on investment for ROI rather than on end-user Marking the next step on its international expansion agenda, ANAROCK Property Consultants has announced the launch of its dedicated office in Abu Dhabi, the high-profile capital of the United Arab Emirates (UAE). ANAROCK Abu Dhabi is the Fi...

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...

Factors That Escalate Property Prices – RealtyMyths

by Anushree Ghosh Understanding the valuation of Properties Real estate continues to attract investments irrespective of the slow growth rate. Introduction of RERA and GST had put a dent in the system but it managed to survive and the momentum is regained. The market evaluation of the real estate properties depends on various elements such as the purchasing power of buyers, the economic condition of the country, stock prices, and interest rates. Investors should do a thorough analysis before making an investment to get better returns: Demand and Supply: Demand and supply are inversely related. If the number of houses that are available for sale decreases, then the pricing increases. If the population of a certain locality increases then the competition for occupying the best places in that...

#GST in Realty

Called the single most important economic reform post-independence the new regime of Goods and Services Tax is all set to replace the existing indirect tax structure and paradigm from 1st July 2017. It is all set to radically transform all the sectors of Indian economy, and the infrastructure segment of our economy won’t be left behind in drawing the sweet nectar of transformation from the beehive structure called GST. Mythbuster Aojasvi, What is GST and what will it change? Goods and Services tax is an indirect tax structure which is an umbrella unified tax set to replace all the indirect taxes levied by states and central Govt. with 4 simplified tax arrangement known as – Central GST (CGST), State GST (SGST), Union Territory GST (UTGST) and Integrated GST (IGST). This will be applicable ...

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