The government on Monday said low-cost housing loans of Rs 15 lakh will be eligible for one per cent interest subsidy, which will help in increasing the demand for such housing.
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.
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.
Residential sales in Hyderabad remained modest in 4Q10. Although the city witnessed many launches, sales did not pick up. Market sentiment, especially among investors, stayed low as political uncertainty persisted.
In a change of stance, the state home department has decided to look into its own move to shift out the Yerawada police station on the Pune-Ahmednagar road and allow commercial exploitation of the three-acre plot on which it stands.
The cash strapped realty companies can have a breather in budget for 2011-12 as the Finance Minister is expected to make announcement of a guarantee corpus for banks on realty lending. Track2Realty has learnt that the banks will get this guarantee corpus of Rs. 1000 crore to lend for housing projects.
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.
Noting that real estate prices in Bihar had touched the level of Gurgaon in Haryana, Chief Minister Nitish Kumar today said the state government was keeping a close surveillance on the price spiral.
Sanjay Chandra, managing director of Unitech Ltd has been summoned by investigators to answer questions over a suspected telecoms fraud that robbed the government of billions of dollars.
Urbanization rate is on the increase – and while there had been a few setbacks over the past few years, the Indian luxury retail market is firmly back now. The economy once again supports the rationale for spending on luxury goods, and it will continue to do so.