Real estate sector gives mixed reaction to Union Budget presented by FM
The real estate sector has given a mixed reaction to the Union Budget presented by Finance Minister Nirmala Sitharaman. While the ₹10 lakh crore allocation under the PM Awas Yojana-Urban for affordable housing is praised, some developers feel that more incentives are needed for the luxury segment and infrastructure development.
Budget 2024: Nifty Realty tanks after removal of indexation benefits; DLF top loser
Budget 2024 sent shockwaves through the Indian real estate sector, as investors reacted negatively to the removal of indexation benefits for calculating long-term capital gains tax on property sales. This key change in the budget proposal essentially means that for property sales, any capital gains will now be taxed based
Keppel acquires One Paramount 1 tech park in Chennai for Rs 2,100 crore
Singapore’s Keppel Land has made a major play for a foothold in India’s booming IT sector by acquiring the One Paramount tech park in Chennai for Rs 2,100 crore (approximately $26 million USD). This strategic acquisition comes as China grapples to stabilize its own property market, prompting Keppel to look
BigBloc Construction Announces Bonus Share Issuance to Shareholders
Construction material supplier BigBloc Construction dished out some good news for its investors on July 19th, 2024. The company’s board of directors approved a shareholder-friendly move – a 1:1 bonus share issuance. In simpler terms, this means that for every existing share a shareholder currently holds in BigBloc Construction, they
L&T sells 59,457 sq ft of Navi Mumbai office space to Suryoday Bank for ₹100 crore.
Navi Mumbai’s commercial real estate scene received a shot in the arm with a recent landmark deal. L&T’s realty arm, L&T Seawoods Limited, successfully offloaded a substantial amount of commercial space to a prominent financial institution. The transaction involved the sale of 59,457 square feet, encompassing 12 meticulously designed commercial
Supertech Faces Insolvency Proceedings Over Mounting Debt
Supertech Limited, a prominent name in Indian real estate, is grappling with financial woes. The National Company Law Tribunal (NCLT) has initiated insolvency resolution proceedings against the company, marking a significant development that could impact its ongoing projects and future operations. This move by the NCLT stems from a petition
Budget 2024: Noida real estate developers expecting tax cuts on cement
Noida real estate developers are pushing for a multi-pronged approach in the upcoming Union Budget, including a GST cut on cement, “industry status” recognition, and streamlined approvals to revitalize the sector and improve affordability for homebuyers. With the first Union Budget of Prime Minister Narendra Modi’s third term looming, real
Andhra Pradesh government keen to complete registrations of plots under LPS
The Andhra Pradesh government is facing a roadblock in its vision for Amaravati, the state’s capital city. A key hurdle hindering progress is the slow pace of plot registrations by farmers who participated in the Land Pooling Scheme (LPS). This scheme, where farmers contribute land in exchange for developed plots
Panchkula citizens’ body to move HC against stilt+four floor constructions policy
Discontent with the Haryana government’s recently implemented stilt-plus-four floor construction policy is boiling over in Panchkula. The Panchkula Citizens’ Welfare Association (PCWA) is gearing up for a legal battle, announcing plans to file a Public Interest Litigation (PIL) in the Punjab and Haryana High Court. This move marks a significant
SEIAA asks Gurugram DC to investigate environmental clearance granted for Global city
A cloud of uncertainty hangs over the future of Gurugram’s massive Global City project. The State Environment Impact Assessment Authority (SEIAA) of Haryana has ordered a thorough investigation into the environmental clearance granted for the development. This move comes after a complaint alleged that misleading information might have been presented
Recent Posts
- Chipi Airport reimagining real estate in Sindhudurg: Report
- Celebrate the spirit of Christmas with ‘Happiness Carnival’ at World Street by Omaxe
- Beyond the Basics: How Luxury Homes are Redefining Modern Living in NCR
- Repo Rate Unchanged at 6.5%: Real Estate Sector shared its views
- RBI MPC Meeting Begins Today Repo Rate Likely to Remain Unchanged
