NAREDCO hails the announcements of Union Budget 2017-18

By Accommodation Times Bureau New Delhi, 2 February 2017: India’s leading apex body for real estate sector, National Real Estate Development Council (NAREDCO) has welcomed the provisions of the Finance Bill 2017, under which government has proposed to award infrastructure status to affordable housing segment. The industry body in its submission over pre-budget expectations had

Salient Features of Direct Tax Proposals in Union Budget 2017

By Accommodation Times Bureau The Union Budget 2017 was laid before the Parliament today by the Hon’ble Finance Minister of India. The salient features of Direct Tax proposals are summarised below:   I.          Affordable Housing:   1.         Three concessions in the scheme of Income Tax exemption for affordable housing: (a)          Area of 30

National Housing Bank will Refinance Individual Housing Loans of about Rs. 20,000 Crore in 2017-18

By Accommodation Times Bureau The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley while presenting the General Budget 2017-18 in Parliament today said that affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits. The National Housing Bank (NHB) will refinance

FIPB to be phased-out in the next fiscal

By Accommodation Times Bureau While presenting the General Budget 2017-18 in Lok Sabha here today, the Union Finance Minister, Shri Arun Jaitley proposed that the Foreign Investment Promotion Board (FIPB) will be phased-out in the next fiscal. Expressing concern over dubious deposit schemes, Shri Jaitley said that a Bill will soon be

Real Estate in Union Budget 2017

By Dr Sanjay Chaturvedi, LLB, PhD Accommodation Times Bureau Highlights of Union Budget 2017 for Real Estate - RBI keeps repo rate unchanged at 6.25%; FY17 GVA outlook revised to 7.1% - One crore new houses will built by 2019 under PM Awas Yojana. - Pace of construction of roads has increased to Rs 133 km/day in 2017,

Property Tax can be tapped to generate Additional Revenue at City Level : Economic Survey

By Accommodation Times Bureau The Economic Survey 2016-17, presented today in the Parliament by the Union Finance Minister Shri Arun Jaitley, stated that Urban Local Bodies (ULBs), having primary responsibility for the development and service provisioning of cities, face major and inextricably linked problems: large infrastructure deficits, inadequate finances, and poor

Real Estate expect least Taxation from Up Coming Union Budget

By Accommodation Times News Services Heavy taxation on real estate transaction is killing the dream of the government to house all by 2022. The taxes on buyer which includes Service Tax VAT LBT Stamp Duty Registration Development Charges by Local Self Government Income Tax as Capital Gain Tax Property Tax by Local Self Government Various Cess Maintenance Charges and recurring cost Work