According to an ICRA note, the impact of GST on both the key sectors of the economy is largely expected to be neutral. The much-awaited Goods and Services Tax (GST) rates have been finalized for various sectors including the Construction and Real Estate. According to an ICRA note, the impact of GST on both the […]
The stakeholders are not very clear about the impact of the changing environment on account of policy interventions like Real Estate (Regulation & Development) Act, 2016 (RERA), Benami Transactions (Prohibition) Amendment Act, 2016 and Goods and Services Tax (GST). Sentiment in real estate sector has improved post demonetization but the industry is still in ‘wait […]
Circle rates of properties across segments have been slashed by 3-8% in Gurgaon, a premium real estate market, for the financial year of 2017-18. Industry experts and government officials believe that the rate cut, the second in a row, will lead to a price correction that will help boost a sluggish market as more homebuyers […]
It has been over 3 weeks since the Real Estate (Regulation and Development) Act, 2016 commonly known as RERA has come into force. Though the law directs States and Union Territories to set up respective regulatory authorities, only 13 states and UTs had notified rules for the same. Moreover, there have been widespread allegations/reports that […]
The much-delayed railway overbridge (RoB) at Basai on the Dwarka expressway is now complete. It is likely to be opened to traffic by month-end. The RoB, located at the junction of sectors 100 and 37D at Basai village, will fill a crucial connectivity gap on the 18km-long Dwarka expressway. Once open -it is scheduled to […]
Housing prices are likely to fall by up to 5% following the implementation of goods and services tax (GST) after the Centre and states decided to peg the levy at 12% on finished houses or apartments. After allowing for credit for taxes paid on inputs such as cement, steel, paints and other items, the actual […]
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 […]