Real Estate Blogs

Builders Want Lower Taxes & Sops to Boost Realty Sector

The real estate sector, which has been reeling under a crisis as fewer and fewer people have been buying homes for the past several months, wants the government to come out with a comprehensive housing policy in the state budget.

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Consultants launch third party realty funds

US-based property consultants CB Richard Ellis (CBRE) and Jones Lang LaSalle(JLL) could soon follow international property consultant Knight Frank in launching a third-party realty fund in the country.The Indian arm of CBRE is looking at raising Rs 250 crore for its maiden third-party property fund in India, said a source. CBRE is looking at tapping some large high net worth individuals (HNIs) for the domestic fund, which will have a Rs 500-crore corpus, he said.

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Budget Expectations for Housing Sector

What are your expectations from the Budget? This is what we asked various real estate buyers and here is the list of suggestions:

1.    Reduce Service Tax / Stamp Duty etc.
2.    Increase deduction for interest on home loans and allow tax benefit on for underconstruction projects also.
3.    Increase the present limit of Rs. 100,000 for principal repayment.
4.    Increase the time period allowed for reinvestment in real estate under section 80-IB

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DLF's profit drops 45%

India's top listed real estate developer DLF has reported quarterly profit plunged by an unexpectedly large 45 percent, hit by a drop in housing and commercial demand as the country's economy slows.

Sales of homes and office space have been falling as Asia's third-largest economy falters under the impact of 13 interest rate hikes to curb inflation and the weight of the global economic slump.

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Budget may increase the exemption limit on interest paid on Home Loans to Rs. 3 lacs

(Source: The Statesman/ANN) - In a bid to boost housing sector credit, the Indian government is contemplating to enhance the income-tax exemption for up to Rs 3 lakh(US$6,071) paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh.

The government is considering to raise the tax deduction limit for housing loan in the coming Budget, sources said.

The Budget is scheduled to be tabled on March 16.

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Real estate continues to be one of the most profitable investment avenue

Real estate continues to be one of the most vibrant and profitable avenues to invest in the country. Anuj Puri, the chairman and country head of global consultancy firm Jones Lang LaSalle India, says that investment in residential projects is currently the preferred route for investors, since the demand for homes in the metros and Tier II cities is virtually limitless.

Commercial and retail spaces also present potentially lucrative investment propositions, especially in the larger cities, he says.

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DLF launches 450-acre township in Sector 81 to 95 in Gurgaon, will include The Primus, Regal Gardens and New Town Heights, Galleria 91

The country's largest realty firm DLF is understood to have earmarked an investment of Rs 8,000 crore to develop a 450-acre integrated township at Gurgaon within 2-3 years.
     
The proposed township - DLF Garden City - will be spread over sectors 86, 87, 90, 91 and 92 (new Gurgaon), and will comprise of group housing, commercial and plotted development.
     
According to sources close to the development, the company will officially launch the project tomorrow.
     

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Developers to get more transparent, will disclose built up area

To inspire confidence among homebuyers, developers and builders are gearing up to embrace transparent practices while selling their projects . Lalit Kumar Jain, the president of Confederation of Real Estate Developers' Association of India (Credai), said all the developer and builders, who are members of Credai, have decided to disclose built-up area of apartments, along with the super area.

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DDA plans Metro realty hub

In a pilot project being developed by Delhi Development Authority, a 30-hectare plot adjacent to the Karkardooma Metro station will house 4,900 flats, a shopping arcade, a hospital, service apartments and even a cultural centre.

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NRIs Seek Stability With Indian Real Estate Investments

Recently an acquaintance - a fund manager by profession - relocated to India to set-up a domestic PE fund here. He had invested in a Mumbai residential property strategically located close to the primary business district and an international school for his kid. This investment, done a few years back, helped him crystallize his plans for relocation to India and start his venture without spending time in finding the right location, house and school.

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