When it was announced, demonetisation was expected to boost government revenues through better disclosure of income by individuals and businesses. That, in turn, was expected to increase government and lead to creation of more jobs. But six weeks into the demonetization drive, the calculations appear to have gone awry. There ... Read More »
In theory, the lack of physical cash — the erosion of cash-linked sales — should hurt real estate prices, creating a negative wealth effect that hurts consumption. The nuances of dynamic: a) almost every developer, mortgage broker and equity/debt investor we spoke to expects weakness. This consensus could in itself ... Read More »
Buildings and real estate projects, between 20,000 and 300,000 sq. metres, will no longer need to be assessed for their environmental impact, by the Centre. From now on, States can integrate the clearance process of such projects into their building by-laws to streamline environmental clearance to a significant chunk of ... Read More »
Malayalam actor Dhanya Mary Verghese has been arrested for involvement in Rs 130 crore real estate fraud. She had been absconding for over a month before the police nabbed her. Dhanya Mary Verghese. File Photo The Times of India reports that she was arrested in Nagercoil along with her husband John ... Read More »
MUMBAI: A builder can terminate a flat purchase agreement by giving just a week’s notice on email to the buyer who defaults on an installment. But the developer can refund the money without interest to the purchaser at leisure, within six months. This is one among several controversial clauses in ... Read More »
PANAJI: After the demonetization announcement and with the Real Estate Regulation Act(RERA) waiting in the wings to make an entrance, numerous aspiring home seekers across the state are stuck in a dilemma. Conflicting views and statements that the cost of real estate will fall drastically has made first times purchasers ... Read More »
Arvind Subramanian says the Indian economy, as far as macroeconomic condition is concerned, is very stable. As the country comes to terms with the demonetisation of Rs. 1,000 and old Rs. 500 notes, Chief Economic Adviser Arvind Subramanian spoke at an ASSOCHAM event. Excerpts from the press conference >> It’s ... Read More »
As marijuana legalization spreads across the country, the financial impact has extended throughout some areas of the economy. One sector seeing a big benefit is industrial warehouses. Because large facilities are needed to grow and store marijuana — and because local laws often limit where such businesses can be located — industrial ... Read More »
MUMBAI: The Maharashtra government has notified draft rules for the regulator to be set up under the Real Estate Regulatory Act (RERA). Among the key proposals aimed at helping homebuyers, there’s much-needed clarity on transfer of project’s land in favour of association entity of homebuyers. Introduction of dividable and non-dividable ... Read More »
MUMBAI: Draft rules of the new Real Estate (Regulation & Development) Act, 2016, (RERA), notified by the Maharashtra government on Thursday have been diluted to favour errant builders, property experts and housing activists said. They claimed that they lacked transparency and flat buyers will continue to remain in the dark ... Read More »
According to the Real Estate (Regulation and Development) Act, 2016, (RERA) all the state governments were to put in place the Act’s rules and regulations for their respective states by 31 October. But the deadline was missed by most states. On 23 November, the Ministry of Urban Development finalised the ... Read More »
There are several reasons why black money exists within real estate, and some of these are natural consequences of legacy structural issues. The most complex issue is that of tax. Taxation in real estate is considerably regressive. The corrupting areas in real estate – land transactions, for the most part, ... Read More »
