Bulk of family wealth in India still tied to real estate: RBI report
A RBI report on household finances shows even the poorest of the population keeps its wealth in real estate or gold.
Real estate rules
76.9% of household wealth in India is invested in real estate.
59% of the poorest 20% in the country own a dwelling unit of some kind or land.
All that glitters is gold
11% of all family wealth goes into buying the yellow metal
8% of total liabilities in Indian families are in gold loans
No takers for financial assets
5% of family wealth is in financial assets like cash, bank accounts and pension accounts
Debt to cope with emergency expenses
56% of all liabilities of Indian families is made up of unsecured loans. Repayment of mortgages increases with age in India
Indiabulls Real Estate gains on acquiring Gurugram land
NEW DELHI: Shares of Indiabulls Real Estate advanced over 2 per cent on Tuesday after the company through its wholly-owned subsidiary Ashkit Properties, acquired an over 3.3 acre land parcel on National Highway 8 in Continue reading “Indiabulls Real Estate gains on acquiring Gurugram land”
Uncertainty caused by RERA and GST is history: Irfan Razack, CMD, Prestige Group
Prestige Group , one of the largest listed real estate companies in the country, is gearing up for greater things given that the uncertainty caused by the Real Estate Regulatory Act (RERA) and the Goods and Services Tax (GST) is behind us. The company recently concluded a corporate restructuring to take the business to the next level. In an interview with ET, Irfan Razack , CMD of the group, talks about the Continue reading “Uncertainty caused by RERA and GST is history: Irfan Razack, CMD, Prestige Group”
Will government intervention help home buyers recover money from realty firms facing closure?
Experts are sceptical about what insolvency proceedings hold for aggrieved citizens.
On Wednesday, the government allowed home buyers to file claims against real estate companies facing liquidation. The government’s intervention came in the wake of panic in the National Capital Region last week after IDBI Bank initiated insolvency proceedings against real estate company Jaypee Infratech for failing to repay its loans. Those who had made advance payments Continue reading “Will government intervention help home buyers recover money from realty firms facing closure?”
Real estate firms reach out to PM on RERA
Real estate project developers have sought the intervention of Prime Minister Narendra Modi to successfully implement the Real Estate Regulation & Development Act (RERA).
In a letter to the PM, the Confederation of Real Estate Developers’ Associations of India (CREDAI) Continue reading “Real estate firms reach out to PM on RERA”
Triple Impact Of Demonetization, RERA And GST On The Real Estate Sector
The triple impact of Demonetization, RERA and now GST have brought dramatic changes in regulatory, tax and business environment in India. The implementation of these landmark developments within a short span of time is bound to create short term problems till our economy gets accustomed to it. However, in the long term all these are certain to make the industry more transparent which will Continue reading “Triple Impact Of Demonetization, RERA And GST On The Real Estate Sector”
Real Estate Investment: Is this a good time to buy your dream home? Find out
Barring a few unfortunate incidents in real estate, the dice seems to be loaded in favour of homebuyers currently. However, is it the right time to invest in real estate?
Barring a few unfortunate incidents of some housing projects getting delayed or some builders going bust, the dice seems to be loaded in favour of homebuyers currently. For instance, over the past one year, significant rationalization of property prices has been seen in many parts of the country, and property has now become Continue reading “Real Estate Investment: Is this a good time to buy your dream home? Find out”
MahaRERA registration for ongoing projects: Realtors face a minimum Rs 1 lakh penalty for delay
MUMBAI: Developers in Maharashtra who missed two previous deadlines for registering their ongoing projects will have to pay at least Rs 1 lakh as penalty for delaying applications.
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has decided to slap Rs 1 lakh or an amount equivalent to the registration fee, whichever is higher, as the penalty for applications received between Continue reading “MahaRERA registration for ongoing projects: Realtors face a minimum Rs 1 lakh penalty for delay”
Understanding real estate: income from house property
The world of real estate can be a confusing mine of legalese. Buying a home is the easiest thing you can do. It’s the documentation that comes after that is the hardest!
In our series of legal explainers, we take you through this complicated world, navigating the world of Continue reading “Understanding real estate: income from house property”
7 things that will make developers or brokers GST-ready – Realsta
As the Goods and Services Tax (GST) crossed the Rubicon on July 1, 2017, businesses across the nation, including developers, are clamouring for clarity on how to conduct their business. Under the new law, every business carrying out a taxable supply of goods or services and whose turnover exceeds the threshold limit of Rs 20 lakh, has to be compulsorily registered under GST. Magicbricks talked to taxation expert Priyajit Ghosh, Partner, Continue reading “7 things that will make developers or brokers GST-ready”