GST Council Approves 5% Rate for Under Construction & 1% for Affordable Housing Properties

The 33rd Goods and Services Tax ( GST ) Council meeting in New Delhi has made some important decisions regarding the real estate sector. Reportedly, the Council has approved the lowest rate of 1% tax on the affordable houses, sources said. According to sources, the non-affordable houses will be charged at 5% GST without the input tax credit. The council […]

Read more

5 things that will make developers RERA-ready

To bridge the gap between the government, developers and consumers, Magicbricks organised an event ‘Real Estate – The RERA and GST Era’ in New Delhi on June 29, 2017 The Real Estate (Regulation and Development) Act, 2016 (RERA), has given India’s real estate sector a new direction but there are some teething problems being faced by developers. To bridge the […]

Read more

Government banning Rs.500 and Rs.1000 notes and its impact on the Real Estate sector

Government’s announcement to withdraw ₹500 and ₹1000 notes from the market, aimed at curbing black money transactions will affect the Real Estate and Gold markets the most. Curbing the parallel economy has long been a sour spot for the government and the RBI. In real estate market especially, where the transaction values could range in crores, the cash component is […]

Read more

Pradhan Mantri Awas Yojana: Rs 66.65 crore provision made for Haryana

The Centre has made a provision of Rs 66.65 crore for Haryana under the Pradhan Mantri Awas Yojna for 2016-17. This was informed in a meeting of state-level sanctioning and monitoring committee on Pradhan Mantri Awas Yojana-Urban, which was chaired by Chief Secretary DS Dhesi here on Thursday. The Union government would provide Rs 40 crore, while Haryana’s share would […]

Read more

M3M group to sell Gurgaon IT-SEZ to Tata Realty for Rs 500 crore

“M3M group has signed an agreement to transfer its shares in the proposed SEZ to Tata Realty and Infrastructure along with Standard Chartered Private Equity” Real estate firm M3M India has entered into an agreement with Tata Realty and Infrastructure to sell its proposed IT-SEZ at Gurgaon for about Rs 500 crore. M3M India’s subsidiary Mikado Realtors Pvt Ltd had […]

Read more

Buying A Property In Gurgaon Becomes Cheaper, Circle Rate Slashed

The Haryana government announced its decision to reduce collector (circle) rates of immovable property in Gurgaon district by 15 per cent, an official said. The lowering of circle rates will bring down the cost of buying property in Gurgaon. The new collector rates lower compared to those of the last year, an official spokesman said here. The new rates have […]

Read more

Haryana govt to increase FAR for Residential plots

GURGAON: The Haryana government has unveiled a two-pronged measure to create more space for housing in its cities by allowing plot owners to increase ground coverage as well as purchase additional floor area ratio (FAR). This means the state’s urban spaces, particularly NCR cities like Gurgaon and Faridabad, will get both taller and more congested as the state rakes in […]

Read more

Gurgaon proposes 15% cut in circle rate

The Gurgaon administration has proposed to slash circle rates of properties by 15% this year to help revive a slumbering real estate market that is in the grip of a prolonged downturn. If the Haryana government approves the proposal, it will be the first time in recent history that Gurgaon, a premium real estate market, will see the circle rate […]

Read more

New Real Estate Act to come into effect from today

The Real Estate (Regulation and Development) Act, 2016 will come into effect from Sunday. It has set in motion, the process of making necessary operational rules and the creation of institutional infrastructure for protecting the interests of consumers. Earlier this week, the Ministry of Housing and Urban Poverty Alleviation (HUPA) notified 69 of the total 92 sections of the act […]

Read more

Gurgaon : Trump partners IREO for Rs 1,000cr office tower in Gurugram

“US-based realty major Trump Organisation today announced a tie-up with India’s real estate private equity firm IREO to develop an office tower in Gurgaon that would cost around Rs 1,000 crore.” This is the third project in India by Trump Organisation, founded by republican presidential front-runner Donald Trump, but the first commercial project in the country. It has two residential […]

Read more
1 2 3 5