Govt warns builders on extorting money in name of GST rollout

New Delhi: The government has warned builders of stringent action for asking customers to make entire payment before July 1, the day of GST roll out. It asked them to pass on the benefits of lower tax under the new regime by way of reduced prices or installments.
In a release issued in New Delhi, the Finance Ministry said that construction of flats, complex, buildings will have a lower incidence of Goods and Services Tax as compared to a plethora of central and state indirect taxes suffered by them currently.


To give impetus to affordable housing, home loans set to get cheaper

New Delhi: The housing loans are set to get cheaper with the Reserve Bank of India (RBI) making it possible for banks to lend more to home-buyers, and at lower rates. This move should benefit customers as well as real estate developers. The central bank did this by reducing the amount of money banks have to set aside (as security) on home loans.
Previously, they had to set aside 0.4% or Rs 400 per lakh. This has now been reduced to 0.25%, or Rs 250 per lakh. The reduction in the amount banks have to set aside (also called a provision) also mean lower home loan rates.


Gurgaon: The destination for steady realty growth

The suburb of Gurgaon has been an essential contributor to the urban sprawl that comprises of prime Delhi NCR. The region has become synonymous with a viral-like growth in the past decade and has assumed a homogeneous nature being a well-established business, housing and leisure hub.
The new residential growth comprising of multistoried apartments initially started along its major arterial roads of MG Road, Golf Course Road and later spread down along the main highway connecting it to Delhi–NH-8.  Further along the way as the city started to grow its wings, newer areas were opened up along the Golf Course Extension Road and newer sectors opened up along the proposed Dwarka-Gurgaon Expressway and both sides of the NH-8, beyond the second toll plaza.  


GMR Airports Ltd Wins Greenfield Heraklion Airport In Greece

New Delhi: Aviation major GMR has won the contract to operate the New International Airport of Heraklion at Crete in partnership with Greek infrastructure major TERNA S.A. (100% subsidiary of GEK TERNA Group).

This Partnership with Greek infrastructure major at Crete for the New International Airport of Heraklion is considered important because Crete is a major tourist destination and the Heraklion airport had been a gateway for 15%-20% of tourist arrivals to the country.


Housing for All by 2022 - The Clock is Ticking Away

Affordable housing is not just about providing homes to the lower-income strata of society, though that is what the Modi government's avowed intention behind the 'Housing for All by 2022' doubtlessly is. Affordable housing creation also has a direct and favourable correlation with the nation's economy, as well as most other real estate segments. Housing for lower-income wage earners increases the economic strength of any city or region, as it attracts inward migration which creates a bigger manpower pool.