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Article 370: Removal of ‘special status’ for J&K will improve infrastructure | Weekly Roundup | RealtyMyths

Hi guys, welcome back to weekly news roundup. Let’s get started!  On 6th August 2019, The Gautam Buddh Nagar administration acquired the first tranche of (80-hectare) farmland, for the proposed Jewar International Airport and passed it over to the Yamuna Expressway Industrial Development Authority (YEIDA). The Reserve Bank of India (RBI) cut the key interest rate for the fourth time in a row, as it reduced the repo rate by 35 basis points (0.35%) to 5.40%, to boost the slowing economy. According to the World Resources Institute’s Aqueduct Water Risk Atlas report, India is at the 13th spot among 17 countries, on the list of ‘extremely high’ water-stressed countries, close to ‘Day Zero’ conditions when the taps run dry. On August 5, 2019, the government, revoked the ‘special status’ granted...

RBI Repo Rate Cut: A Significant Boost Ahead Of The Festive Season For The Real Estate Sector

by Santosh Sinha The real estate industry welcomes the decision by the Reserve Bank of India to cut the Repo Rate by 35bps, 4th consecutive rate cut in the year 2019. And why not, the sector is about to enter the festive season. The real estate developers expect to boost their sales in the upcoming quarter, provided the respective banks pass on the benefits to the end consumers before that. Anshuman Magazine, Chairman & CEO, India, South East Asia, Middle East & Africa, CBRE, describes, “The Reserve Bank of India’s decision to cut the repo rate by 35 basis points is a welcome move. In a scenario where there is pressure on GDP growth, the move will spur investment and boost consumption activity in the economy. We believe that this announcement might result in a further reducti...

Delhi Govt. to make Metro & bus ride free for women – Weekly News Roundup

Hi guys! We’re back with weekly news roundup, so let’s get started! The Reserve Bank of India (RBI) cut its repo rate by 0.25% on June 6, 2019, this is the 3rd time this year. The repo rate, at which the central bank lends to the system, will come down to 5.75% after the cut. Mumbai is leading among the 56 cities, and Delhi is at the fourth position according to a new report detailing the traffic situation. However, said traffic in the two cities decreased slightly in 2018. ITC Ltd has declared a collaboration with the Pune Municipal Corporation for sustainable management of multi-layered plastic waste in the city. Delhi chief minister Arvind Kejriwal has said that his government is considering making Delhi Metro and bus travel free for women in the city in order to encourage the use of pu...

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...

How to Buy a Home Outside the Country? – RealtyMyths

by Akhilesh K Prasad An increasing number of resident Indians have shown interest in travelling abroad on business or for taking up jobs. Such Indian residents desire ownership of properties in places where they find a livelihood. Indians are also interested in investments outside the country where they may be lucrative real estate propositions. They can do so, bearing in mind certain restrictions imposed by the Foreign Exchange Management Act (FEMA). FEMA requires that a resident Indian desirous of purchasing immovable property abroad must first seek special permission from the Reserve Bank of India (RBI) to do so. This restriction is not applicable to the following categories of resident Indians. Those who are NOT Indian citizens but reside in India and own an immovable property abroad. ...

Weekly News Round-up

Hi guys! Welcome back to the weekly news update, where we inform you about the latest happenings of the real estate sector. Let’s get started. Beginning with an update on budget-friendly apartments. According to a study, over the last 5 years, the average size of budget-friendly apartments in the major cities is shrinking 17% to match affordability. Update on Swachh Survekshan 2019. The Centre for Science and Environment (CSE) has claimed that there were many loopholes in the Swachh Survekshan 2019 survey and ranking of cities as the on-ground assessment for this was completed in just 28 days. Next update on Aqua Line metro. Noida Metro Rail Corporation (NMRC) is going to introduce 50 low-floor, air-conditioned, and disabled-friendly feeder buses through 16 new routes in Noida and Gr. Noid...

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. ...

RBI Keeps Repo Rate Unchanged, Real Estate Sector Delighted – RealtyMyths

And the rates are unchanged! The Reserve Bank of India (RBI), at its monetary policy review meeting held today, kept the repo rate unchanged to 6.5%. RBI also lowered the inflation projection to 2.7-3.2% from 3.9-4.5% for the second half of 2018-19. The Monitory Policy Committee (MPC) suggested reasons like fall in food inflation, rupee appreciation and improved investment environment for this balanced but brave move. Considering the recent tussle between the government and RBI, experts expected some rise in the repo rate. The repo rate is the interest rate at which RBI lends money to the banks for the short term. The experts also counted the data released last week which indicated a sharp downfall in the economic development in the second quarter of the current fiscal year; the GDP slippe...

RealtyMyths Weekly News Roundup

Welcome once again to RealtyMyths Weekly News Round-Up. Let’s jump into the pool of updates of the real estate sector that took place in the very first week of October! Starting with the blessing in disguise. The falling rupee is turning out to be an opportune situation for the NRIs to invest in the real-estate. Developers are offering great incentives like waiver on stamp duty, GST and floor rise. It is also estimated that in the span of 6 months, real estate will be gaining in the range of 7-8%, due to the investments made by NRIs. Next story straight up from SC office. Supreme Court has put a stay order on the construction of ultra-modern housing projects, including the helipad and resorts in Nainital, Uttrakhand until further instruction. Due to the high-altitude forest, and the risk o...

Checklist for NRIs Buying Property in India

by Anushree Ghosh, In the past few years, the drop in the Indian currency has made it cheaper for the Resident of India (NRIs) to invest in the country. The NRIs always found the Indian market lucrative and fruitful in multiple aspects. Due to the high rate of returns, emotional affinity towards one’s own country and as mentioned initially due to declining value of the rupee, and search for an attractive investment offer, NRIs often look for land purchasing deals in India. The main investments come from the countries like USA, UAE and Saudi Arabia. However, due to the restrictions imposed by the government on NRI investment in India, the NRIs prefer other countries over India to invest in real estate. Here is a checklist for NRIs who are looking to buy property in India: Reserve Bank of In...

RBI’s monetary policy: Raised repo rates by 25 bps to 6.5 percent

The Reserve Bank of India (RBI) headed by Governor Urjit Patel on Wednesday announced a second straight 25 basis points hike in repo rate to 6.5 per cent. For the second time in two months, RBI raised the interest rate on inflationary concerns. Repo rate is the key rate at which the RBI lends short-term funds to commercial banks. Here’s what industry experts have to say about the new repo rate: Dr. Niranjan Hiranandani President, National Real Estate Development Council (NAREDCO): Neutral Stance on policy, but hiked rates: RBI seems to be playing both sides of the equation. Anuj Puri, Chairman – ANAROCK Property Consultants: The 25 bps increase in the repo rate announced in today’s third bi-monthly monetary policy was in line with our expectations. Amidst rising inflation, depr...

RATES UNCHANGED AHEAD OF UNION BUDGET 2016 – 17

The Reserve Bank of India in its first Bi-monthly monetary policy meeting of 2016 maintained status quo on key policy rates. The repo rate remained unchanged at 6.75% and CRR remained unchanged at 4%. The Union Budget is an eagerly-awaited annual event which Indians follow closely, as the decisions and allocations announced by the Finance Ministry have great pertinence to both individuals and industries. The real estate sector is sensitive to many of policies that are announced both for various industries and individuals. The realty sector is just emerging from a prolonged and painful slowdown, and is looking for all and any signs of light at the end of the tunnel. “The Union Budget 2016 – 17 being around the corner, it was extremely crucial on RBI’s behalf to come out with a no-change rev...

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