The Centre has warned states against introducing rules and regulations in violation of the provisions of the Real Estate (Regulation and Development) Act (RERA), saying dilution may trigger a legal challenge. “It is a settled law that subordinate legislation such as rules, regulations, schemes, etc, cannot be in violation of the provisions of the principal […]
The Goods and Services Tax (GST) rate of 12 percent will be applicable on under-construction properties. This rate with input tax credit seeks to remove the inefficiencies of dual taxation in the form of value added taxation (VAT), service tax and puts an end to multiple taxes. The service tax exemptions to be continued in […]
Real estate firm Supertech Ltd. on Friday announced its plans to invest Rs. 1,500 crore on construction and other activities in the current financial year to expedite project completion in National Capital Region, North India, and Bengaluru. The company’s announcement to deliver 15,000 units across various projects in India by March 2018, comes at a […]
Realty developer Central Park is entering the commercial segment with a 40-lakh sq ft mixed-use project in Noida involving an investment of about Rs 2,000 crore. The project will comprise about 16 lakh sq ft of office space, 16 lakh sq ft of residential development and another 8 lakh sq ft of retail space. “We […]
India’s largest housing finance company HDFC and the largest private lender ICICI Bank have slashed interest rates and are now offering home loans of up to Rs 30 lakh at 8.35% -the same rate which State Bank of India offers. In terms of the new schedule of rates, salaried women borrowers will get home loans […]
The Goods and Services Tax (GST) is beyond doubt the most revolutionary tax-related reform to be seen in India in several decades since it will eliminate the conflicting and cascading taxation structures which have confounded several industries over the past few decades. It will most certainly have a profound effect on India’s economic prospects. A […]
Buyers of delayed housing projects will get interest on the invested amount for the delay period at the Real Estate Regulatory Authority’s (RERA) prescribed rate as against 5 per sqr feet to 10 per sqr feet contracted in the sales agreement, said the chairman of Madhya Pradesh RERA Anthony de Sa. RERA’s prescribed rate comes […]
Traffic flow on the road b et weenHuda City Centre Metro station and Fortis Hospital is expected to be streamlined soon as the Haryana Urban Development Authority (Huda) is working on a plan to construct an elevated road or a flyover to divert traffic. The road or flyover is likely to come up between Sushant […]
The proposed alternate route to connect Southern Peripheral Road(SPR) with NH-8, bypassing the Kherki Daula toll plaza, will become a reality soon. Along with some private developers, Huda is going to start construction work on the project in a few weeks, with road construction work expected to be completed over the next 2-3 months. At […]
Every game has a referee unless it’s being played in one’s backyard. A regulator’s job is similar to referee’s i.e. not only to manage and normalise the situation but also to ensure that all the players play according to the rules. What the real estate industry witnessed in the past was largely because of the […]