The income tax department permits joint owners of single house property to file the income tax return by simply using Form-1 (Sahaj) or Form-4 (Sugam). On 3 January, the taxpayers who had owned a house in joint ownership were debarred, and those who had paid Rs 1 lakh of electricity billed in a year or […]
Joint property owners can file income tax return using this forms.more
To provide a booster to the property market, on January 8, India’s leading lender, State Bank of India, has unveiled a guarantee scheme for home buyer funding whereby, if the developer fails to deliver the house within a predetermined time, the lender will reimburse the entire amount of the principal. Until the occupation certificate is […]
State Bank of India initiates Home Buyer Finance Guarantee Scheme.more
Nanma Properties, part of the Eastern Group has established preparations for entrance into the affordable housing market. The decision of the Group reflects the declaration by the Central Government of the subsidies for the affordable housing sector. Navas Meeran, Chairman of the Eastern Group, said Nanma Properties Ltd will invest Rs 2,500 crore in an […]
Nanma Properties, part of the Eastern Group is going to enter into Affordable Housing Market.more
The real estate industry has urged the government to lower the interest rate on home loans to 7% and to raise the deduction of income tax on interest paid on housing loans to Rs 5 lakh to help revive demand after home sales rose by just 1% in 2019. The industry body National Real Estate […]
Authority demands reduction of interest rate on home loans.more
With finance minister Nirmala Sitharaman on February presenting the Union Budget 2020-21, real estate chambers pursued to dilute the definition of affordable housing in order to enable more properties to fall within its scope and take advantage of the opportunities. The concept of affordable housing currently means a house or flat in non-metropolitan cities and […]
Real Estate bodies seek to develop more properties under the affordable housing scheme.more
On December 30th, Fitch Solutions said it expects the residential and non-residential building sector of the country to grow by 6.6% in 2020, led by fiscal support and increased focus on providing affordable housing in urban areas. “A mix of tax support and government policies supporting the housings market, and enhanced activity within the logistics, […]
Real Estate Sector Forecast: Residential and Non-Residential construction is likely to grow in India.more
This year investment in the property industry in India, driven mainly by a large demand of commercial IT companies’ office properties, is likely to rise by 5% to USD 6.5 billion (around Rs 46,000 crore), according to the global real estate consultant Colliers. The real estate market gained USD 6.2 billion last year, up 8.7% […]
Colliers International Report – Indian real estate sector to attract USD 6.5 billion investment.more
The Maharashtra Real Estate Regulatory Authority (MahaRERA) took action against 21 real estate developers, who have not followed the Real Estate (Regulation & Development) Act (RERA) registration, and also did not apply a list of customers who booked their homes for further action under Section 7 and 8 of the RERA Act. The provisions of […]
MahaRERA took suo moto action against 21 developers.more
The Economic Offenses Wing of Mumbai Police On Friday, in a Metropolitan magistrate court, filed a 32,000-page charge sheet against five persons at multi-crore Punjab and Maharashtra Cooperative (PMC) Bank scam. The charge sheet has been marked by Joy Thomas, former director of the bank, Waryam Singh, former chairman, Surjit Singh Arora former director of […]
EOW filed 32,000- page charge sheet against the promoters of HDIL and others.more
On December 27, Hardeep Singh Puri, State Minister for Housing & Urban Affairs said that approximately 1.20 crore jobs have so far been generated under PMAY-Urban through forward and backward linkages to around 250 auxiliary industries including steel, brick kilns, cement, paint, hardware, sanitary etc. According to investments made within the scheme about 568 lakh […]
State minister Hardeep Singh Puri, speaks about 1.20 crore job creation under PMAY-Urban.more
