Real Estate News
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Real Estate Bodies ask Finance Minister to Defer Loan EMI
The current times are difficult for not the lives of people but also the economy of the country. Keeping this in mind the real estate bodies have written to the Finance Minister of the country to the housing loan instalments for 12 months, a moratorium on loan projects for 2 years, and release of building plans and other approvals that are held up due to the payment of fees among the other measures the government is taking in such difficult times. The president of NARDECO- UP, Supertech Chairman RK Arora said that due to Covid-19 impact, housing sales are almost nil. There are no buyers in the market, naturally, the value of housing prices...
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Developers Turn to the Digital Mode for the Launches and Sales
Amidst the outbreak of COVID- 19, the homebuyers and potential investors cannot go out and visit the place personally. Keeping this in mind and for the convenience of the buyers, the real estate developers are now marketing their new launches on the digital platforms. Big developers like Godrej Properties, Prestige Group, and Total Environment Building Systems have launched the digital tours of their sites. The online platform also allows the home buyers to buy the properties online as well as do all the documentation and verification can be done online. Potential buyers are hesitant to come out of their house and visit the properties...
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SEBI Releases the Encumbrance Guidelines for REITs and InvITs
On Monday, the market regulator, SEBI, placed the framework for the encumbrance and invocation on the units of real estate and infrastructure investment trusts. SEBI released a separate circular extending the regulatory due date for filing and compliance for InvITs and REITs for the financial year ending March 31, by one month on the wake of the coronavirus pandemic. The circular released that addressed the situation developing surrounding the outbreak of COVID-19 stated that a need for temporary relaxation in compliance requirements for REIT and InvIT is warranted. SEBI explained further in the circulars released, that the entiti...
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What do the Women Buyers of the Real Estate Want?
The times have changed when women were not considered wise enough to make an investment which included a large sum of money. Women now extend their skills in not only being a homemaker but also house purchaser. According to the reports, 74 percent of the real estate buying decisions are influenced by the women or the female members of the family. Women are more actively involved in the purchase of the property. Before purchasing the property, they familiarise with the legal and technical process that is involved for the same. Women not only perform the proper due diligence but are also calculative about the tax benefit, the amount of ...
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SBI Slashes Home Loan Rates to 7.75 Percent
On March 10, 2020, India’s biggest lender State Bank of India (SBI) announced that they are reducing their marginal cost fund- based lending rate across tenors by 15 basis points. The move is expected to garner attention from the potential homebuyers and boost sales in the real estate sector. The bank has reduced their MCLR rate by 10 BPS only for the tenures with which the home loans are linked. The home loan rate initially was at 7.85 percent. Currently, it stands at 7.75 percent. For the current fiscal year, this is SBI’s tenth MCLR rate reduction following the direction from the RBI. The new rates will not be available for the ho...
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Mid-Range Homes are Homebuyers First Choice says the Survey
According to the survey done by LIC and ANAROCK, mid-segment properties that are priced between Rs 45- 90 lacs are in the major demand among the potential homebuyers. As opposed to the common perception, Pune and Hyderabad have emerged as the most preferred cities for investment than Bengaluru. Government has been making efforts to revive the real estate sector of the country. The court rulings in favour of the buyers, GST, and RERA have all come together to push the homebuyers towards the purchase more. RERA registered properties over low home loan rates Buyers who took part in the survey stated that they prefer RERA preferred prope...
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Everything you Need to Know about Protecting your Home from Coronavirus
With the increasing concern of Coronavirus around the world, it has become extremely important to keep your surrounding and yourself clean and hygienic. Even though coronavirus is not airborne, it can be transferred by coming into physical contact with the affected person. We discuss the ways which will help you keep your home from getting affected by the COVID-19 virus. What is Coronavirus? More than 1,00,000 people globally are affected by Coronavirus. The number of confirmed cases is rising every day and while there are unconfirmed cases as well, the fear of the virus spreading globally is lurking. Ways to prevent your house ...
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According to the Reports, Millennials to Drive the Realty Demand in India
The real estate of the country has been witnessing a slow down for the past few years and the government is making all the necessary effort to revive the sector. In times when the sales and demand of properties, reports show that the millennials are playing a major role in lifting the real estate sector of the country. According to the reports, about 75 percent of the millennials hope to buy or invest in property in the next three years. It also highlighted the fact that the millennials are considering affordability when it comes to buying a property. The report stated that less than 5 percent of the millennials prefer to buy a home p...
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What Budget 2020 Brought for the Real Estate of India?
On February 1, 2020, the Finance Minister Nirmala Sitharaman presented the annual Budget 2020. This is the government’s second budget of the term. The Finance Minister, in her speech, said that “Fundamentals of the economy are strong and that has ensured macroeconomic stability. Inflation has been well contained. Banks saw a thorough cleaning up of accumulated loans of the past decade, and then they were recapitalized. Companies were provided with an exit through the IBC. Several steps on the formalization of the economy were taken up.” However, there were certain provisions made for the real estate sector of the country. we l...
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Rental Income Taxation of NRIs Post-Budget 2020
Budget 2020 made it clear for the NRIs incurring rental income in India will now have to pay taxes for the same proposing the stricter norms for the IT Act to stop the abuse of existing norms. Finance Minister, Nirmala Sitharaman, presented the Budget 2020 on February 1, 2020. The budget proposes to amend Section 6 of the IT Act to stop the people from taking advantage of the existing one. The FM mentioned in her speech about the instances where the NRIs earning the rental income in India reported that the income in the country of their current residence and evaded in paying taxes altogether. The Finance Minister stated that, if y...
