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1.Does the Budget fall short of Real estate sector’s expectations?

Residential real estate developers were hoping for much more than merely extending existing benefits for affordable housing.

2.Real Estate Budget Reactions

A mixed bag of reactions by real estate sector on full Union Budget 2019-20

3.Will the Budget 2019 meet the real estate and constructions sector expectations?

With a target to make India the world’s third largest economy by 2030, the government has its mission set.

4.CSR Foundation and PNB Housing to upskill 13,000 construction workers

They have collaborated with 8 skill institutes to roll out the programme

5.GST rates cut on under-construction housing properties to 5%

GST for affordable housing projects cut down to 1%

6.What impact will the RBI’s decision to hike rates have on housing sales? Find out!

The RBIs decision to increase repo rates by 25 bps to 6.25 per cent after four years of keeping them stable speaks of a carefully deliberated decision in light of the recent inflationary pressure on the economy.

7.RERA Tribunals have also not been implemented by most states in the country, says Jaxay Shah, President, CREDAI National

The implementation of RERA has been nothing short of a game changer for the Indian real estate sector. The act has not only streamlined all processes and facilitated a transparent eco- system, but it has also enhanced homebuyers’ sentiment to a great extent which is also evident from an increase in sales in the sector.

8.Mumbai DP 2034 receives the government’s nod. CW captures industry reactions…

The government’s approval on the long-pending Mumbai DP 2034 is a welcome move. The DP is likely to spur real estate activity in the city and also pave the way for the development of much-needed affordable houses in Maximum City.

9.RBI calls for action on a single-window clearance nod to affordable projects

The government’s push to affordable housing through various initiatives like Credit Linked Subsidy Scheme (CLSS) under PMAY, infrastructure status to affordable housing in Budget 2017, has started an affordable wave in the country, which will provide a major thrust to the Prime Minister’s dream of ‘Housing for All’ and reinvigorate growth.

10.Some ambiguities under RERA should be revisited in order to protect the interest of the real estate industry, believes CREDAI

There is absolutely no scope for correction once a developer fills his registration and hence, most of the developers waited till the end moment to ensure that all the specifics are met as per RERA. Hence, there has been an overwhelming response for RERA registration in last couple of days, says Jaxay Shah, President, CREDAI National.

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