PROPGUIDE − A Complete Property Guide
#happyhome

#RealtyNewsRoundup: Tamil Nadu Draft Rules Mandate Jail For Project Delays [Video]

Loading video...

Description

Realty News Roundup is PropGuide’s selection of the day’s top stories from the real estate sector.

The Tamil Nadu government is ready to tighten the screws on developers failing to meet delivery deadlines. Developers failing to deliver housing projects in time may land in jail, says the draft rules for the real estate act released by the Tamil Nadu government. The Tamil Nadu Real Estate (Regulation and Development) Rules, 2016, also mandate registration of agents engaged in the realty sector but the rules do not address the vital issue of the single window system.

Despite the commonly perceived slowdown in the real estate sector post demonetisation, Union Minister M Venkaiah Naidu recently said it was the biggest beneficiary of the controversial move as it sparked a fall in interest rates on home loans. Expressing hope that the finance minister will announce more incentives for the sector in the upcoming budget, he said If tax net widens, the interest rates will come down further.

After dragging its feet for several years, the Chandigarh administration recently approved the rates for conversion of leasehold residential properties to freehold. The move will benefit over 50,000 leasehold property owners in the City Beautiful. As per the proposed rates, an allottee of 150 square yard plots in Sectors 1 to 12 would have to pay around Rs 9 lakh as one-time chargeable conversion fee.

Larsen & Toubro bagged orders worth Rs 1,286 crore for construction jobs in the country. The orders include heavy civil infrastructure jobs worth Rs 1,071 crore, including the underground Metro-Link Express for Gandhinagar and Ahmedabad.

 

Source: Media reports

Tags: Chandigarh, Video, Larsen & Toubro, propguide, RERA, 2016, Housing Sector, Demonetisation, Tamil Nadu Real Estate (Regulation and Development) Rules, Union Minister M Venkaiah Naidu


#Budget2017: Self-Employed & Those Without An HRA Component Eager to Be Addressed

India's self -employed workforce as well as those who do not have an HRA component in the lump sum that they get from their workplaces is looking forward to Budget 2017. Their only demand being a rational look at the amount that is allowed for exemptions.

January 19 2017

+ Click Here To Read This Article

#WeeklyRoundup: Union Budget 2017 Aims To Boost Affordable Housing [Video]

Here are the week’s top news stories from the real estate sector.

February 04 2017

+ Click Here To Read This Article

#Budget2017: FDI Norms May Be Eased Later This Year

Finance Minister Arun Jaitley announces the abolition of Foreign Investment Promotion Board (FIPB).

February 01 2017

+ Click Here To Read This Article

#Budget2017: Affordable Housing To Get Infrastructure Status

After Finance Minister Arun Jaitley presented the Union Budget 2017-18, Prime Minister Narendra Modi said the housing sector stood to gain immensely from the new announcements.

February 01 2017

+ Click Here To Read This Article

#Budget2017: Real Estate Sector Demands Simple And Effective Norms

One of the major announcements was of the Real Estate (Regulation & Development) Act 2016 (RERA), which is expected to be profitable for both customers as well as builders, will bring about a great deal of transparency.

January 31 2017

+ Click Here To Read This Article

#Budget2017: Must Address Persistent Ambiguities Related To GST & Applicable Tax Rates For The Sector, Says Supertech's R K Arora

The real estate sector is currently in a recovery phase after a prolonged slowdown and the recovery has not been quite satisfactory, this makes the Union budget 2017 critical to the successful recovery of the sector.

January 18 2017

+ Click Here To Read This Article

#RealtyNewsRoundup: Benami Bill Notified, 7 Years In Jail For Undisclosed Property

Here are today's top news stories from the real estate sector.

August 17 2016

+ Click Here To Read This Article

Is NCR Losing Out To Mumbai, Bengaluru, Pune?

The National Capital Region, for very long, has been the largest residential real estate market in India. But, is NCR losing out to Mumbai, Bengaluru and Pune?

November 10 2015

+ Click Here To Read This Article

Here are today’s top news stories from the real estate sector.

To fulfil the soaring demand for luxury property among potential home buyers in Bengaluru, the...

Here are some DIY tips to check whether your new real estate investment is legally clear.

Does a higher FAR value help reduce cost of a property? PropGuide helps you understand the logic...

The Goods And Services Taxes has clearned a proposal to charge a cess of 15 per cent on luxury cars...

PropGuide tells you how a better metro connectivity will raise real estate prices in Noida.

The first phase of a Metro network is already changing the way people commute in Bengaluru. Upon...

Banks and developers are taking several initiatives to shift India’s home-ownership pattern in...

A building code is a set of norms that govern construction of buildings by stipulating minimum...

PropGuide simplifies complex real estate jargons for you.

Proptiger has released it's quarterly review report on India's real estate sector. Ankur Dhawan,...

Prime lending rate is the interest rate at which banks lend to its most credit worthy...

Subscribe Now

To stay tuned with real estate updates

Pick:

x +

Drop Your Query here


Top