Apart from MSMEs, NBFCs and HFCs, the real estate sector got a major boost from the announcements made by FM Nirmala Sitharaman on Wednesday. Providing a major relief to real estate developers, the FM extended the timeline for project completion and registration by 6 months. “This is a big move […]
Real Estate Pins Its Hope On Economic Package, Eyes On Meaningful Stimulus For Relief From Corona Virus
Representatives of the real estate sector have said Prime Minister Narendra Modi’s announcement of a Rs 20 lakh crore special economic package, equivalent to about 10 percent of India’s GDP and focusing on land, labour, liquidity and laws, is ‘much required’ and hoped that the details to be announced by […]
Can Developers Help Homebuyers By Grading Real Estate Projects
Uttar Pradesh Real Estate Regulatory Authority (UP Rera) is expected to start grading projects and developers based on parameters such as financial quality, organizational structure and certifications, track record, compliance adherence and customer feedback. Crisil Ltd has been appointed as a consultant for setting up a system and assigning the […]
With Heavy Losses in the Offing, Realty Sector Urges for Tax Wavers & Payment Deferment For A Year
The global coronavirus disease (Covid-19) pandemic that has entailed a nationwide lockdown since March 25 to control its spread has brought sales to a halt in the realty sector, stopped all business activity and suspended constructions for the last 46 days. The unprecedented crisis has prompted developers to seek a […]
Rescuing Real Estate: Corona Shock Can Only Be Tackled If The Developers Undertake Bold And Agile Action
India’s residential real estate market has been battling multiple headwinds recently. The government-backed system clean-up through RERA, GST, demonetisation and the Benami Transaction (Prohibition) Act significantly impacted the housing sector. According to Knight Frank data, sales volume dropped by 10–15%, and new launches nosedived by 25-35% between 2014 and 2019, […]