With buyers entitled to seek relief under the Real Estate (Regulation & Development) Act, 2016 with effect from the first of May this year, the Central government has cautioned the states of a Ăâserious situation of vacuum arisingĂâ if necessary institutional mechanisms, as required under the Act, were not put in place before that.
Category: ECONOMY & POLICY
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Punj Lloyd Q3 net loss down to Rs 232 crore
Infrastructure major Punj Lloyd's net loss has narrowed to Rs 231.81 crore during the quarter ended December 31, 2016.
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NCC Ltd Q3 net profit up at Rs 58.27 crore
Hyderabad-based construction company NCC Limited has reported a 2 per cent increase in net profit at Rs 58.27 crore for the quarter ended December 2016 as compared to Rs 57.03 crore in the corresponding quarter of the previous year.
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EscortsĂâ profits grow by 54.4percent at Rs 101 crore
Escorts Limited has reported a profit of Rs 22.7 crore in the quarter ending December 31, 2016, up by 11.2 per cent as against a profit of Rs 20.4 crore in the corresponding quarter in the previous fiscal. The profit reported is after one time loss from discontinued operations in respect of its auto products business of Rs 30.8 crore.
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Jayashree Kurup, Head of Content and Advisory, Magicbricks.com
Affordable housing being given infrastructure status is a welcome move and will help in the Ă´Housing for allĂ´ by 2022 Mission - it is a big and positive move for developers, banks and housing finance companies.
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Shishir Baijal, Chairman and Managing Director, Knight Frank India
The Union Budget 2017-18 is a much awaited one, considering that it comes against the backdrop of a challenging year for the real estate industry. There needs to be a balance between the demand and supply sides to ensure a surge in sentiment and investment opportunities.
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Tushad Dubash, Director, Duville Estates
We look forward to the implementation of the Real Estate Regulatory Authority Bill (RERA) which will bring in more transparency and professionalism into the sector. It is a positive move for developers with an established corporate governance practice. RERA coupled with GST and demonetisation will create a strong framework within which this industry will function.
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Cabinet approves a new scheme for promotion of rural housing
The Union Cabinet has approved a new scheme for promotion of rural housing in the country. The Centre will provide interest subsidy under the scheme.
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Haryana formulates infra transport scheme
Haryana has formulated an Industrial Infrastructure Development Scheme aimed at promoting uniform regional and sustainable growth across the state, including in backward areas.
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Centre calls for affordable housing targets
The Ministry of Housing & Urban Poverty Alleviation has asked all states and Union Territories to submit proposals for construction of affordable houses for the urban poor at the earliest so that the Ă´Housing for AllĂ´ target in urban areas could be met by 2022 as envisaged.