National Urban Housing Fund created

By Accommodation Times Bureau The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores.  This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body registered under the Societies Registration Act, 1860

Recommendations made by the GST Council for the Housing Sector to promote Affordable Housing

By Accommodation Times Bureau In its 25th Meeting held on 18th January, 2018, the GST Council had made several important recommendations for the Housing Sector which have come into force with effect from 25th January, 2018. The recommendations are expected to promote affordable housing for the masses in the country.   One of the important recommendations made

Logistics Sector granted Infrastructure Status

By Accommodation Times Bureau The Logistics Sector has been granted Infrastructure status.The need for integrated Logistics sector development has been felt for quite some time in view of the fact that the logistics cost in India is very high compared to developed countries. High logistics cost reduces the competitiveness of Indian

Tax benefits for Affordable Housing Scheme

By CA Pathik Shah Accommodation Times Bureau The Government of India along with the governments of the respective states has taken several initiatives to encourage the development in real estate sector. The Smart City Project, where there is a plan to build 100 smart cities, is a prime opportunity for the real

All provisions of RERA notified

By Accommodation Times Bureau On 19th April, remaining sections of Real Estate ( Regulation and development) Act 2016 was notified wide no S.O. 1216(E) by Ministry of Housing and Poverty Alleviation. Sections Section 3 to 19,  Section 40, Section 59 to 70,  Section 79 to 80 were notified. Which means all provisions of RERA

Legalising Illegal buildings

By Dr Sanjay Chaturvedi, LLB, Phd. On 1st April 2017, both the house of Maharashtra state legislature have passed an amendment under Maharashtra Regional Town Planning (MRTP) Act to enable legalising of illegal structures in state which were carried out on or before December 31, 2015. The Amendment says that those seeking

Draft Law on Ponzi Schemes

By Accommodation Times Bureau In view of the number of complaints with regard to the unauthorized deposit taking activities and duping of gullible people by unscrupulous elements, the Government had constituted an Inter-Ministerial Group (IMG) in the Department of Economic Affairs (DEA), for identifying gaps in the existing regulatory framework for