Daily Real Estate News Digest (25th February 2019)

GST on under-construction flats slashed to 5%, affordable housing to 1%

To boost demand in the real estate sector, the GST Council slashed tax rates for under-construction flats to 5% and affordable homes to 1%, effective April 1.

ET Realty

Prestige Estates to sell 25% offices to individual investors

Prestige Estates Projects Limited plans to sell 25% of its office portfolio to individual investors to expand its commercial business.

ET Realty

Blackstone, Embassy to launch India's first REIT in few weeks to raise over Rs 5,000 crore

Blackstone and Embassy Group will in a few weeks launch the country's first real estate investment trust with an estimated issue size of Rs 5,000 crore

ET Realty

Ahmedabad to see flood of affordable homes

After having declined steadily for 3 years in a row, availability of affordable homes – mainly 2BHK units – in Ahmedabad city is set to surge. As many as 71,749 affordable homes are currently being built.

ET Realty

EoW arrests developer of Noida's Aranya project

Vinod Kumar Chaswal, director of a real estate company based in Noida was arrested by the Economic Offences Wing of Delhi Police after it was found that the company had sold the same apartment of a housing project in Noida to multiple people.

ET Realty

Kolkata civic body plans tax rebate for green buildings

The Kolkata Municipal Corporation is contemplating rebate on tax for green buildings to encourage more environment-friendly construction.

ET Realty

Registration of rental agreements now must in Tamil Nadu

A registered written agreement is mandatory for renting a home, an office or any building or property in Tamil Nadu. The state government introduced the rules for a new tenancy Act that aims at balancing the rights and responsibilities of tenants and owners.

ET Realty

Kochi civic body to use Paytm for property tax payment

City corporation has decided to introduce a facility for paying various taxes, including property tax, through Paytm an e-commerce payment system. The facility will be introduced in 12 divisions in the central zone of the local body on an experimental basis from 2019-20 fiscal.

ET Realty

Developers' borrowing costs go up by 300 bps on IL&FS fallout, slow sales

Lenders such as non-banking finance companies, housing finance companies, and private equity funds are asking for higher rates, a fallout of tightening liquidity after the Infrastructure Leasing & Financial Services crisis.

Business Standard

Leave a Reply

Your email address will not be published. Required fields are marked *