India Real Estate Latest Trends | Overview | Growth | Investments

August 9, 2021
2 years, 37 Lakh Homes: Still Counting under PMAY-Urban

The Government on Wednesday said that they are working to boost affordable housing in the country by providing additional tax benefits of INR 1.5 lakh on home loans. Also, tax deduction of INR 2 Lakh for affordable housing, 100 percent deduction of tax on profits for construction of affordable housing projects under section 80-IBA of the Income tax Act till 31st March 2022 has also been levied, which will widen the scope of Section 80-IBA from 30-60 sq. meters in metro and 60-90 sq. meters in non-metro cities. They are also providing infrastructure status to affordable housing to enable cheaper loans.

The Government is giving provision of reduction on GST on under-construction affordable housing projects from 8 to 1 percent without Input Tax Credit increase in priority sector lending from INR 28 lakh to 35 Lakh in metros and from INR 20 to 25 Lakh in Non-metros with setting up of Affordable Housing Fund in National Housing Bank.

In a discussion in the Upper House Minister of Housing and Urban Affairs (MoHUA) Kaushal Kishore said, ‘during the last two years, under the PMAY-U, 37.57 Lakh houses were sanctioned for EWS under three verticals in situ Slum Redevelopment Affordable Housing in Partnership (AHP) and Beneficiary Led individual house Construction or Enhancement (BLC) of which 28.99 lakh have been grounded for construction and 18.50 Lakh houses have been completed”.

Investment at its Best in Sector 33 Sohna Gurgaon, Check Why?

Gurgaon, the satellite city of Delhi is situated in the southwest. To the south of Gurgaon falls Sohna Road. It is the fastest growing and developing stretches in the NCR region. In its vicinity are two major highways namely Gurgaon Expressway (NH-8) and the upcoming Kundli-Manesar-Palwal (KMP) Expressway. This strategic location Sohna Road has come out as an important locality in the real estate market from an investment point of view. Since it boasts both affordable residentia

RERA Order of Extension, Realtors at Relief in Maharashtra

MahaRERA’s order of extension has provided relief to many of the developers, while there are still some that are not at ease. The recent order extending the deadline for projects with completion dates on or after 15 by six months has come as a surprise to realtors and industry watchers in the region. The major disruption was due to the blockage created in the supply of the key raw materials, such as steel and cement, which has affected the construction industry. According to Anil Pharande,

UP-RERA goes Digital for Various Processes

In the year 2016 guidelines were issued to go digital for various processes of Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) in order to minimize the regulatory compliance burden. The action plan of going digital was issued for 10 Forms under the Uttar Pradesh Real Estate (Regulation & Development) Rules 2016. Amongst these, 7 were already online while the remaining 3 were made online on July 16. Form A for application for registration of real estate project. Form C for obtaini