Investing in non-agricultural land
Buying land can be a time-consuming and expensive affair. Not only can the initial phase of buying it be quite complicated, but the cost involved in maintaining a purchased plot can also be quite high.
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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.
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.
Budget relying on inclusive growth for the ‘aam aadmi’ : Pranab Datta, VC & MD, Knight Frank India
The Budget is relying heavily on maintaining the trajectory of growth in the economy to provide solutions for inclusive growth that touch the ‘Aam Aadmi’ and parallelly stressing on governance aspects, which hopefully will be covered separately through concrete action plans to deal with the menace of unaccounted wealth. The trend for consolidation is expected to continue.
Realtors sulk under representation in budget; see no end to it
Real Estate may boast off to be the second largest economic activity and the largest employment provider in the economy, but when it comes to have a say in the policy making, they are found to be sulking.
Me & my home in budget
Real Estate and Finance Minister seem to be at logger heads over the wants and needs of the sector. Interestingly when one proposes and the other disposes, both of them justify their stand in the name of “Aaam Aadmi”, the common man who is the consumer and the end-user. But in this cacophony of confusion the “Aaam Aadmi” is often found wondering as to who will ask for his wish list with Union Budget.
Realtors sulk under representation in budget
Nearly all the real estate developers, a whopping 96 per cent, across the country are cribbing for the sectors’ continued under representation in the Union Budget over the years.
Nitesh Estates launches Rs 100 cr luxury residential project
Nitesh Estates has announced the launch of a Rs-100 crore luxury residential project in Bengaluru. The project, Nitesh Logos, would be located in the central business area MG Road and provide all modern amenities, company officials said. The project is expected to be completed in two years.
Vascon Engineers Q3FY11 consolidated revenue up 36% at Rs 215.82 cr
Vascon Engineers Ltd, a Real Estate and EPC company, on a consolidated basis recorded a revenue of Rs. 215.82 crore for Q3FY11 as against Rs.158.60 crore in the corresponding quarter last year; marking a growth of 36.08%.
RICS calls for fair practices in real estate
The RICS, an international, self regulatory professional body relating to real estate, has called for a mechanism for consumer protection and fair practices in real estate transactions. This will also help increase domestic and foreign investments in this sector.