He said the real estate should not be treated as 'milching cow' and added that there is a case for even lowering the GST rate from current 12 percent.
DLF Chief Rajeev Talwar is optimistic on the future of real estate segment. His optimism stems from the need for construction and housing. To spur GDP growth, there is a need for construction, Talwar said.
There is a sense of recovery in the real estate market, as the second half of 2016 saw a revival in sales and this trend is likely to continue in 2017. At the same R
Property developers and consultants today expressed disappointment over the RBI decision to keep key policy rates unchanged and said the reduction in interest rates would have given a boost to sluggish housing sales.
Talwar was unanimously elected in its recently held annual general meeting (AGM), DLF said in a statement.
Post the monetary policy meet, Keki Mistry, VC and CEO of HDFC told CNBC-TV18 that the inflation expectations gave RBI impetus to cut rates.
RBI today reduced the repo rate by 0.25 percent -- the short term rate at which the central bank lends to banks -- to 6.25 percent.
About 20 percent of the REIT money can now be used for under-construction projects compared to 10 percent earlier. This is a big positive, as infrastructure companies have most of their projects under construction and there isn't any inventory of finished projects, says Talwar.
Rajeev Talwar was unanimously elected as Chairman at the 103rd Governing Council Meeting of National Real Estate Development Council (NAREDCO) held yesterday.
In the case of defaults or delays, the same rate of interest will be levied for promoters as well as buyers. The Bill also seeks to establish fast track dispute resolution mechanism
Experts said the the housing sales have remained flat this year despite 15-20 per cent fall in prices and multiple interest rate cuts, while a glut continued in the market because of investors still sitting on old inventories.
The government today relaxed foreign direct investment (FDI) norms in construction sector by removing two major conditions related to minimum built up area as well as capital requirement.
Commenting on the rate cut, India's largest realty firm DLF's CEO Rajeev Talwar said: "Very good announcement by RBI. Have left the job to the Finance Ministry to now convince the banks to lower their base rate."
Wanda group Chairman Wang Jainlin, who yesterday met Prime Minister Narendra Modi, held discussion with top officials of DLF - India's largest realty firm - to explore possible joint venture for the township.
Realty major DLF said Pia Singh, daughter of company's chairman K P Singh, has resigned as a whole-time director but will continue as a non-executive member of the board.
The decision by Prime Minister Narendra Modi's government to amend the bill, which was submitted by the previous government in 2013 but not passed by the upper house, aims to boost investor confidence and stamp out illegal practices.
Rajeev Talwar, Group ED, DLF said the company is still studying the fine print of the order and will comment only after analysing it thoroughly.
Less than a week for Budget 2015, Prime Property asks Rajeev Talwar, ED of DLF what his top-three recommendations are for the Finance Minister (FM).
Rajeev Talwar, ED, DLF says the finance minister seems to be responding to the realty sectors woes and that this move will give big boost to affordable housing.
DLF Ltd, the country's largest real estate firm, today said it has no unsold inventories despite slowdown in the property market as the company mostly sells flats before the start of construction of projects.
According to DLF's Rajeev Talwar, the company is likely to sell over 15,000-17,000 flats in the next three years. He believes the government needs to promote housing and construction just like they did for automobile sector.
The cost of land would shoot up to that extent it would add to the project cost both for the industry and for the developers, says Ajit Mittal, ED of Indiabulls Group.
Rajeev Talwar, group executive director, DLF says that the company continues to be focused on monetizing its non-core assets in order to pare its debt.
CNBC-TV18's brand new series Prime Property is your weekly real estate reckoner; from new launches to hot deals, national price checks and trends. We bring you all the news in realty with the biggest voices in the business.
Realty major DLF said it is likely to bring a follow-on public offer (FPO) before June to dilute promoters' stake to 75 per cent as per market regulator Sebi's guidelines.