Oversupply of retail space set to keep rentals under pressure
A mammoth increase in planned supply of retail malls in India will increase retail companies’ bargaining power vis-à-vis real estate developers.
Browsing: India Real Estate News
Tata Housing to invest 3000 crore on affordable housing
Tata Housing Development Company would invest up to Rs 3,000 crore next fiscal to develop affordable homes across the country. The company already has five projects in the affordable segment and plans to launch 7-8 more projects next fiscal.
Tax subvention to improve housing shortage: Manoj John, VP, RNA Corp.
The favourable budget outcomes are enhancement of priority home loan limit to Rs. 25 lakhs from Rs. 20 lakhs and extension of interest subvention of 1% up to Rs 15 lakhs.
Commendable job by focus on infra dev: RICS
Backed by strong economic growth and impressive fiscal consolidation, the Royal Institution of Chartered Surveyors (RICS) believes that the finance minister has done a commendable job by continuing the focus on infrastructure development, which has been a key contributor to the inclusive growth in the country.
Budget has been neutral and industry friendly: Irfan Razack, CMD, Prestige Group
The budget speech indicated further progress on the Direct Tax Code (DTC) as well as the GST – both critical measures, which is a welcome move. Though, I feel that it would have been better for the industry if GST was also rolled out along with the DTC.
Four realtors get sanctions for bank loans
At least four firms, Ansal Properties and Infrastructure Ltd (Ansal API), Emaar MGF Land Ltd, Kumar Urban Development Ltd and Paranjape Schemes Constructions Ltd, have received fresh sanctions from banks, although overall lending to the sector remains subdued.
Focus on Aam Aadmi who doesn’t live in cities
The Finance Minister seems to be getting more appreciation than brickbats for renewing focus on the housing needs of Aam Aadmi. Even the real estate sector is divided and while the long awaited demands have not been fulfilled, a section of the realtors with affordable housing projects have appreciated the efforts.
Mixed Bag for Realty: Boman R Irani, CMD, Rustomjee Group
For the Union Budget 2011-12, rising inflation, tight liquidity, high interest rate, industrial slowdown, delayed reforms and negative market sentiment were some of the key concerns to address.
A tie budget; not won, not lost, say realtors
Real Estate developers across the country have termed the Union Budget 2011-12 as a tie cricket match which can’t be termed as won or lost. However, they are all unanimous that it is not a game changer budget for the sector.
Budget focused on common man: Sunil Mantri, President MCHI
Maharashtra Chambers of Housing Industry (MCHI), most prominent body of the real estate developers today described the Union Budget presented by the Finance Minister Pranab Mukherjee as “Budget with few positive steps focused on the common man who is interested in buying a house in rural and urban areas”.