The offer by NAREDCO Maharashtra members is available from September 3 until October 31, 2020. All the projects are RERA registered.
According to NAREDCO, over 5,000 projects have been affected due to delay in issuing of final notification
Government should scrap Section 43 CA of IT Act, reduce ready reckoner rates if it wants price reduction of over 10 percent
Around 1.25 lakh workers will be absorbed at project sites spread across Ghaziabad, Noida and Greater Noida in Delhi-NCR
Lease rent should be deferred for a year and extension for 12 months should be given for paying interest installments as restarting construction activities may take time, the realtors said
Consider construction activity in industrial clusters, smart cities and smart villages being proposed along highways
Naredco seeks a $200 billion package from the government to kick-start the economy. Affordable housing to make a comeback first; Property prices may fall by 10-15 per cent.
(NAREDCO), an apex body formed under the aegis of Ministry of Housing & Urban Affairs, in a letter to Economic Affairs Secretary Atanu Chakraborty, has recommended that continuation of dividend exemption in the hands of the unit holders will help in de-stressing the banking system.
Real estate developers disappointed with the Budget, say it failed to address liquidity concerns and did not provide any major incentives to boost sluggish sales.
"The housing website is an important step towards empowering homebuyers and will enable them to take an informed decision," he said.
The four approved in the first round are of Rs 25 crore each. As many as 2.5 lakh housing units expected to benefit
Steps must be taken to enhance liquidity, subvention schemes be restored, taxes rationalised and home loan interest rates be lowered, recommends Naredco.
PMAY riding on an investment worth over Rs 5 lakh crore
Finance minister is contemplating to set up stress fund for various infrastructure sectors, including real estate and power, Mishra said at the 15th National Convention of NAREDCO - Housing for all 2022
Contrary to the increasing conservative preference for compact homes, the Indian millennial woman does not want to compromise on property size.
NAREDCO President Niranjan Hiranandani welcomed the GST Council's decision to cut tax rate on sale of under-construction flats, but sought reduction in taxes on key raw material cement that attracts a GST rate of 28 per cent.
The recommendations are "aimed at reducing the impact of GST on the end-consumer and simplifying the compliance requirements of the developer.
The proposal that no notional rent will be levied on second self-occupied homes and that capital gains up to Rs 2 crore can be used to buy two houses, is expected to boost demand for housing.
On the GST, the association welcomed setting up of a group of ministers (GoM) to consider rationalisation of rate. It demanded that the GST should be brought down to 5 percent with input tax credit (ITC) for affordable housing from 8 percent, while for other projects the rate should be 8 percent with ITC from the present 12 percent.
While Section 18 of RERA Act clearly states that a homebuyer can seek refund and ought to be compensated for ‘undue’ delays in a project, experts said a withdrawal by a handful should not jeopardise completion of an entire project
While homebuyers want the government to create a stressed asset fund to deal with incomplete projects, developers are hoping that the government will bring stamp duty within the purview of GST.
The association also recommended that any dispute regarding new projects should only be heard by state regulators set up under RERA, and not consumer courts
He also announced that the Transit-Oriented Development (TOD) policy is being extended by 90 days.
Around 2.5 lakh urban poor will be trained under this programme
Government sets up advisory committees to address home buyers issues