Wednesday, January 23, 2019

Latest News

Real Estate Budget Expectations 2019

From Rationalization of taxes to bringing stamp duty within the purview of GST to re-financing NBFCs by raising limits and easing the norms for...

PhonePe partners with Cashfree

Bengaluru based payments technology company, Cashfree has launched PhonePe as a checkout option on its payment gateway. 5000 merchants will be able to accept...

Identity Devices launches innovative Biometric Privacy platform for Aadhaar ecosystem

Biometric Privacy Platform enables greater data security and privacy while giving Indian residents choice over how and to what extent their Aadhaar information is...

Web Werks gets SAP Certification for Cloud Hosting

India’s largest data center service provider today announced that it is now one of the only SAP Certified Providers of Cloud Hosting Services in...

British Council announces Digital Open Call for creative professionals

The British Council is looking for proposals that celebrate diversity, inclusion, equal opportunity and freedom of expression. To mark the 30th anniversary of the World...

Infineon opens office in Noida

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to...

PayNearby launches BharatQR

PayNearby works on a B2B2C model and facilitates a bouquet of financial services including aadhaar banking, domestic remittances, bill payments, card payments, granular investment...

Vikram Solar commissions solar projects for WBSEDCL

Vikram Solar currently has over 940 MW (commissioned + under execution) EPC portfolio in India. Vikram Solar, one of India's leading module manufacturer and a...

Powered accelerator announces cohort for women entrepreneurs

Select entrepreneurs to get equity free seed funding from the Program Continuing its efforts in supporting women entrepreneurs in the energy domain, POWERED Accelerator has...

TripXOXO signs agreement with Club Mahindra

Five-year agreement to offer 95,000+ travel experiences to Premium Club Mahindra members at special rates five-year agreement, TripXOXO wil offer 95,000+ travel experiences to...

Aequs to adopt SAP S/4HANA business suite to facilitate growth

Aequs is transforming its ERP landscape by embarking on a digital journey in partnership with itelligence India Aequs, one of the world’s fastest growing aerospace...

BLS International Creates High Powered Advisory Board

The Advisory Board will operate like a Think Tank and complement the company's ongoing efforts for continuous improvement and help leverage its strengths to...

SREI to list equipment finance business

The proposed capital augmentation scheme is expected to further infuse around INR 500 crore in our equipment finance business and will pave the way...

Haptik launches voice bots

Customers can ask for the delivery menu, know about latest offers and place orders by just talking to the Bot over Amazon's Alexa Food-based retail...

Check Point launches Maestro

Revolutionary security platform delivers unprecedented scalability, resilience and control to any organization; new 6000-series appliances give complete protection against Gen V cyber threats with...

20% of companies continue to be hit by cryptomining attacks every...

37% of organizations impacted by Cryptomining over past year Check Point® Software Technologies Ltd. (NASDAQ: CHKP), a leading provider of cyber security solutions globally, has...

Lodha Developers International Limited

Lodha Developers International Limited, a subsidiary of India’s largest real estate developer Lodha Group, today announced a buy-back programme for its senior dollar denominated bonds which are due in the year 2020. The company has entered into arrangements with J.P. Morgan Securities PLC to commence the bond buy-back programme for repurchasing on its behalf, up to US$65 million (i.e. up to 20 per cent of the outstanding) of the said bonds.

With the purchase of the 2020 Bonds, Lodha Group will provide liquidity to the 2020 Bondholders, proactively manage its capital structure and reduce gross debt and leverage.


Budget expectation 2019-20

“Rationalization of taxes would be the one most important factor that the real estate industry would expect at this point of time from the upcoming Budget. It is not just about reducing taxation rates; rationalization of taxes is necessary as it will create an environment conducive along with the positive sentiment to enable generate new business opportunities across the economy. Among the expected points, I would also add the expectation of bringing Stamp Duty within the purview of GST; Input Credit of Construction against output of Renting; incentivize Rental Housing to meet Housing for All commitment by 2022 and increasing limit of interest deduction, paid on home loan, from 2 lakh to 3 lakh. The real estate industry looks forward to a positive Budget from the Hon’ble Finance Minister.”

Dr. Niranjan Hiranandani, National President, NAREDCO


Pre Budget Expectations Quote

“The government’s progressive initiatives have significantly enhanced the real estate market sentiment. With the union budget just around the corner, we hope to see robust initiatives to boost the industry, which is a huge contributor to the nation’s GDP.Infrastructure being a key driver will further drive momentum in the real estate market. New Inventory that includes affordable housing projects coming up on the suburban tracts will certainly benefit with new and growing infrastructure. This will help in seamlessly connecting different nodes of the city and provide developers and homebuyers with more options to explore.The quantum of unsold residential inventory across micro-markets in the country is looming and the government should continue to focus on the ongoing and upcoming infrastructure projects as it will enhance connectivity thereby attracting homebuyers. Further, rate cuts could help boost the buying sentiment to reduce the existing supply of inventory in the market.Additionally, extending income tax exemption applicable to affordable housing would allow buyers to purchase their dream homes without added financial strain and provisions for single window clearance for housing projects which would ensure speedy completion of projects. The proposal to consider a GST rate cut on under construction properties will also help and this benefit could then get passed on in a transparent manner to the customer.The launch of the smart cities mission (100 smart cities) are in various stages of implementation and with the Government taking adequate various initiatives like these along with incentives for Green buildings and those focused on sustainability, these added incentives / tax subsidies to developers to construct green homes will contribute to sustainable future and greener cities.We hope the government takes into considerations the expectations of the developer and homebuyer’s community and provides respite to the real estate industry.”

Tushad Dubash, Director of Duville Estates


What do you expect from the budget 2019

“In the 2019 Budget, the real estate industry will be looking to the Finance Minister to announce progressive tax SOPs for the Industry as well as homebuyers. Among other things, there are two important aspects that we hope are addressed in the 2019 Budget. Firstly, the cap on deductions available to homebuyers on interest paid for the residential property should be increased from Rs. 2 lakh to Rs. 4 lakh thereby encouraging homebuyers to invest in real estate. Secondly, to address the issue of affordability, Stamp duty should be included in the purview of GST. This has been a longstanding issue for homebuyers and developers alike and we hope that it is addressed as soon as possible.The two aspects hindering the growth of real estate today are affordability and liquidity. Transaction costs for homebuyers have become prohibitive and that is encouraging more and more people to chose renting over buying. With net GST at 12% and stamp duty as high as 6-8% depending on the state, homebuyers are finding it unaffordable to purchase a home. These aspects need a closer look and a different approach is encouraged. In recent times, liquidity has been a significant hindrance for several developers and HFC’s. With tightening norms around home loan eligibility, several people are left out of the ambit and this can be dangerous for the long term growth of a sector that continues to be India’s second largest jobs provider after Agriculture.In some aspects, the promises of 2018 have been met and in some others some work still remains to be done.”

Farshid Cooper, MD of Spenta Corporation 

NewsBarons is an online media platform for corporate news, business news and startup news.