Daily Real Estate News Digest (24th December 2018)

GST Council to consider 5% GST on under-construction homes

The GST Council is likely to consider lowering GST on under-construction flats and houses to 5 per cent in its meeting next month.

ET Realty

Borivali housing societies develop own buildings

Two more housing societies from Borivali’s IC Colony have opted for self-redevelopment of their old buildings in indications that the trend is going to pick up big time in the coming year.

ET Realty

Government likely to lower GST on cement

The government is expected to lower goods and services tax on cement before next summer’s general elections.

ET Realty

NCLAT quashes insolvency proceedings against Paramount Propbuild

NCLAT has set aside insolvency proceedings against Paramount Propbuild, noting that no notice was served to the NCR-based real estate firm before initiating the debt recovery process. 

ET Realty

Chandigarh admin approves need-based changes in CHB flats

Providing major relief to allottees of Chandigarh Housing Board flats, the UT administrator VP Singh Badnore approved the need-based changes

ET Realty

Dehradun civic body to start house tax collection from January

After the state government brought an ordinance to stop the court-ordered demolition of slums in the city, the Dehradun Municipal Corporation is set to start collecting house taxes from them from January.

ET Realty

MHADA allots 300 new houses to Mahul residents

A day after Chief Minister Devendra Fadnavis initiated dialogue and action on the relocation of project affected persons from Mahul, the Maharashtra Housing and Development Authority allotted 300 houses to some of the residents currently protesting against forced habitation in a neighbourhood dominated by chemical factories.

ET Realty

Insolvency plea against Rashmi admitted

NCLT has admitted an insolvency petition against real estate developer Rashmi Housing for allegedly defaulting  payment to Essel Private Equity

The Hindu

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