Daily Real Estate News Digest (6th July 2019)

DHFL sells office at discount to Charak Pharma promoters

Stressed home financier Dewan Housing Finance (DHFL) has sold one of its crucial commercial properties DHFL House in the Andheri suburb of Mumbai to the promoters of Charak Pharma for Rs 121 crore.

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Budget 2019 imposes TDS on parking charges, maintenance fees if buying house.

Charges such as club membership fees, car parking fees, electricity and water facility fees, maintenance fee, advance fee etc. will soon need to be added into the cost of buying property amount while determining the amount of tax to be deducted at the time of making property.

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Budget 2019: Tax sop on home loans, tax holiday for affordable housing & push to rental housing.

For realisation of the goal of ‘Housing for All’ and affordable housing, the FM announced a tax holiday on profits earned by developers of affordable housing. 

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Interest deduction on home loans raised to Rs 3.5 lakh for affordable housing.

Finance Minister Nirmala Sitharaman Friday raised tax deduction limit to Rs 3.5 lakh on interest paid on housing loan sanctioned during this fiscal for purchase of first home worth up to Rs 45 lakh, a move aimed at boosting the affordable housing segment.

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RBI to regulate HFCs instead of National Housing Bank: Finance Minister.

This step is one among other steps announced on Friday to strengthen and better regulate the NBFC sector as non-banking financial companies (NBFC) in the country are facing severe liquidity crisis.

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Several reforms would be undertaken to promote rental housing: Finance Minister.

Current rental laws are archaic as they do not address lessor-lessee relationships fairly," said Nirmala Sitharaman.

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