Page 45 - Real Estate

UP may announce package for stressed housing projects as unsold stock soars

Projects in the state have a combined inventory of 100,000 units valued at Rs 1.50 trn, mostly in Noida and Greater Noida

Real estate woes impacting core sectors; working with RBI for solution: FM

Finance minister Nirmala Sitharaman on Tuesday said the government and Reserve Bank are working to resolve the issues being faced by realty sector. Admitting that realty sector has been left out of the booster measures announced earlier, she said the sector has a spillover effect on many sectors, especially the core sector. "The government is very keen and is working very clearly together with the RBI to see how best we can, where necessary, tweak the existing norms to help the people who are affected in the realty sector," she said at an NSE event. It can be noted that after the July budget roiled the market and business sentiment, the government has rolled back many of the tax measures and also went to the extent of drastically cutting corporate tax to 22 percent--making the biggest tax giveaways to the tune of Rs 1.3 lakh crore. Admitting that the so far announced measures have not helped revive the sentiment in the real estate, she said since August the government

We will not miss the bus again, next wave of reforms soon: FM Sitharaman

It can be noted that many analysts have been calling for urgent reforms in the factor markets, especially regarding land and labour, to get the economy out of the trough

Relief for realty: Govt sets up Rs 25k-cr fund to revive stalled projects

In other decisions, Cabinet has approved pacts signed with German agency DGUV; pact with Guinea on renewable energy; and signing revised DTAC with Brazil

Banks unanimous in seeking one-time loan restructuring for realtors

State Bank chairman Rajnish Kumar said if there is scope for restructuring, then one should do it

Bengal developers fear missing real estate sops with state bypassing RERA

Bengal govt enacted own version of RERA, the West Bengal Housing Industry Regulation Act in 2017, the only state to do so, and Housing Industry Regulatory Authority came into effect on June 1, 2018

4 realtors from three cities have requested to avail of bailout fund: FM

More companies are likely to approach the nodal agency for taking benefit of this window from next week, she said

RBI mulls one-time rollover loan recast of select real estate firms

Real estate industry associations - CREDAI and NAREDCO have been seeking this one-time rollover

Stressed real estate firms want bank loans to pay tax dues on deep discount

For the first time perhaps, industry has sought government intervention in getting bank loans to pay excise and service tax dues under the Legacy Dispute Resolution Scheme (LDRS) such as Sabka Vishwas

As builders focus on building cheaper apartments, home sales jump in Mumbai

Sales in Mumbai rose 22% in 2019 even though a persistent credit crunch and economic slowdown curtailed recovery in India's housing sales across top seven cities

Housing demand fell 22% in H2 2019 amid slowdown in real estate market

Overall sales during 2019, however, inched up while new launches grew 21 per cent year-on-year

Realty 2019: Housing sales remain sore spot; commercial segment takes lead

Housing sales rose by a mere 5% to 2,61,370 units in 2019 across seven major cities compared to 2,48,310 units in the previous year

Real estate sector sentiments revive to optimistic zone in Q3: Report

The future sentiment score, that had gone in the red for the first time in the preceding July-September 2019 quarter at 49, also bounced back to 59 in Q4 2019.

Real estate developers wary of Haryana govt's proposed circle rates

k, Gurugram has 58,000 unsold units - the highest in the national capital region. In Gurugram, unsold stock increased by 12 per cent in 2019 - from 51,840 units at the end of 2018 to over 57,950 units

Realty Check: Current rates and unit sizes in the Rs 1-1.5 cr price range

If you are looking at buying real estate, an idea about prevailing rates would come in handy

Mumbai posts decline in residential launches, sales in H2 2019: Report

However, the report observed that despite headwinds of economic slowdown, Indian real estate sector has recorded an overall growth in 2019

20 key industrial, political and economic developments to expect in 2020

Where is the Sensex headed? will the economy turn around? what about sectors like auto, pharma, consumer goods and infra? Business Standard tells you what to expect in the new year

Housing market down but commercial real estate came out strong in 2019

Consultants and developers say next year is also going to be bad for home developers - prices are expected to remain stagnant and sales to move only slowly

Office space leasing at record 10.82 mn sq ft in Delhi-NCR in 2019: Report

Delhi-NCR's share in total net office space leasing and new supply across seven major cities stood at 23 per cent and 26 per cent, respectively

Realty Check: Current rates and unit sizes in the Rs 30-50 lakh price range

If you are looking at buying real estate, an idea about prevailing rates would come in handy