Category Archives: Policy

New GST rates may raise property costs, say real estate developers

Real estate developers are concerned that the implementation of the goods and services tax (GST) may raise the overall cost of properties if the sector comes under the expected 18% tax slab and stamp duty is not subsumed in the new tax structure. The GST Bill was cleared in Parliament’s budget session, paving the way… Read More »

Date: April 13, 2017 Category: Policy Tags:

Housing, commercial infrastructure project developers tie up for green rating

Housing and commercial infrastructure project developers have now started developing sustainable habitats. Developers such as BESTECH India, Madhya Pradesh Housing and Infrastructure Development Board, Madhya Pradesh Police Housing and Infrastructure Development Corporation, Ireo Hospitality Company, Vatika Ltd and Conscient Infrastructure have tied up for a Green Rating for Integrated Habitat Assessment (GRIHA) for the same.… Read More »

Will India’s commercial real-estate market get it REIT?

The much awaited Real Estate Investment Trust (REIT) listing is inching closer to reality and India has rent- yielding office inventory of 537 million sq ft worth over $70 billion. According to a joint report by KPMG, Naredco, Hariani & Company and Knight Frank, titled ‘REIT-able Space in India: A Closer Reality’, $121 billion or… Read More »

GST implementation won’t result in realty price rise: Venkaiah Naidu

The proposed implementation of Goods & Services Tax will not increase prices of real estate, especially of affordable housing, said M. Venkaiah Naidu, Minister for Urban Development, Housing and Poverty Alleviation. “GST will not increase prices, especially not for affordable housing. We have already exempt affordable housing from service tax, and my ministry is addressing… Read More »

Date: March 10, 2017 Category: Policy Tags:

Consumer activism will increase in distressed ongoing projects

Throughout 2016, the number of new residential project launches was lower than units sold. With all states staring at the approaching deadline to implement their versions of the Real Estate Regulation & Development Act (RERA), most will definitely fall in line, said JLL India. “This landmark law will enforce hitherto unprecedented transparency and accountability requirements… Read More »

Gujarat govt cancels ‘illegal’ land transactions worth crores

The state government has ordered cancellation of all land transactions that took place during the past two years after approval by various districts collectors. Sources said a key reform announced in 2015 and meant to benefit farmers was misinterpreted by the collectors who used it to favour builders, industrialists and various co-operative societies. In 2015,… Read More »

Grievance platform for property buyers

Property buyers will have a forum to redress their grievance with the state government today announcing the formation of a regulatory authority and an appellate tribunal to regulate the real estate sector under the Real Estate (Regulation and Development) Act, 2016. Urban development minister Pushpendra Singh Deo told the Assembly today that in keeping with… Read More »

Demonetisation and RERA: How will it impact property prices?

On November 8, 2016, the Government of India de-notified currency notes of Rs 500 and Rs 1,000 as legal tender. The temporary shortage of cash adversely impacted several sectors that depended on cash, notably wholesale markets, the informal sector and even parts of the real estate industry. The real estate industry involves both, formal as… Read More »

Realty, infra cos face higher tax outgo under new rule

Real estate and infrastructure companies, already struggling with thin profit margins, could see a substantial fall in profits and a significant rise in tax liability next year due to the `thin capitalisation’ concept unveiled in the Union Budget for 2017-18. The new rule will not allow companies to claim tax deduction for interest paid on… Read More »

Date: February 15, 2017 Category: Policy

Noida building bylaws to be changed for fire safety

Highrises in Noida, Greater Noida and Yamuna expressway are likely to adopt better fire safety measures as a draft proposal to suggest amendments in the building bylaws of the three development authorites has been given to a high-power committee. On Monday, CEO of Noida & Greater Noida authorities, Deepak Agarwal, held a meeting with the… Read More »