Can’t give death penalty for corruption, says Supreme Court on misconduct of builders
NEW DELHI:“We cannot give capital punishment for corruption,” a peeved Supreme Court said Wednesday while referring to the “misconduct” of realtors in cheating lakhs of people across the country. The top court said builders, in connivance with authorities and banks, have flouted norms and constructed sky scrappers side by side across India. It pulled up […]
Lowering of GST in real estate will boost sales in affordable housing: BK Goenka, ASSOCHAM President
NEW DELHI: The central tax authority, GST Council has taken a bold decision to lower the GST rates for under-construction housing projects to 1 per cent from 8 per cent in affordable housing and 5 per cent from 12 per cent earlier in the non-affordable segment. The decision will be implemented from April 1, 2019. […]
Finance minister asks banks to meet realtors to understand industry issues
NEW DELHI: Finance Minister Piyush Goyal has asked banks to meet real estate sector representatives within the next fortnight to discuss the issues being faced by them. The minister also assured that goods and services tax (GST) rates would be brought down soon for the sector, which has been facing a demand slack. “There is […]
A mixed bag of reactions by realtors on Interim Budget 2019
NEW DELHI: Presented by the interim finance minister Piyush Goyal in Parliament today, the interim Union Budget 2019-20 has much to offer to the real sector. From lending a stronger back to the middle-class section of the country to providing some relief to the real estate developer the interim budget came with plenty of perks […]
Real estate: Industry reactions on RBI’s Bi-Monthly Policy Review
NEW DELHI: As Monitoring Policy Committee of Reserve Bank of India (RBI) today keeps key Policy Rate Unchanged. Lat’s go through realtors reaction on the RBI’s repo rate. Dhiraj Jain, Director, Mahagun Group The decision of RBI to keep the rates unchanged is a clear indication that the apex bank wants to maintain its vigilant […]
Reliance Communications to exit telecom fully to focus on real estate: Anil Ambani
MUMBAI: Billionaire Anil Ambani on Tuesday announced that the cash-strapped Reliance Communications (RCom) will be completely exiting the telecom business to concentrate on real estate in future. The first priority for RCom, which is credited for democratising telecom services through cheaper offers in early 2000s, is to resolve its over Rs 40,000 crore debt, he […]
Bank of India looks to raise Rs 1,000 crore from sale of non-core assets, real estate
NEW DELHI: State-run Bank of India is looking to raise nearly Rs 1,000 crore through selling stake in some of its non-core assets and real estate properties. The bank expects to raise around Rs 800 crore through sale of its stake in non-banking finance company – STCI Finance – and in Sidbi, by the third […]