Real Estate

Consultative Paper on proposed SEBI (Real Estate Investment Trusts) Regulations for Public Comments

The Consultative Paper and draft SEBI (Real Estate Investment Trusts) Regulations are placed on SEBI website for Public Comments. The full text of the Consultative Paper and the draft Regulations is available on here. Click here. Comments are invited on the Consultative Paper latest by October 31, 2013. ------------------------------------------------------------ Excerpts from the Paper 1. Background  1. India™s… Read More

Tags: IndiaReal EstateReal estate investment trustReal Estate Investment Trusts: Structure Performance and Investment Opportunities (Financial Management Association Survey and Synthesis Series)REITSecurities and Exchange Board of IndiaSingaporeUnited States

RBI Clarification on Finance for Housing Schemes enhancement of limits

RBI/2013-14/236 UBD CO BPD (PCB) Cir. No.13/09.22.010/2013-14 September 10, 2013 The Chief Executive Officer All Primary (Urban) Co-operative Banks Dear Sir / Madam, Finance for Housing Schemes Primary (Urban) Co-operative Banks Loans for repairs / additions / alterations enhancement of limits Please refer to our circular UBD BPD PCB No.31/09.09.01/2002-03 dated December 30, 2002 on… Read More

Tags: AsiaBusinessIndiaReal EstateRural areaUrbanUrban area

External Borrowing Norms for Housing Projects

The policy regarding ECB for the low cost affordable housing projects has been recently reviewed in consultation with RBI and has been rationalized as under: ¢ Developers/builders should have a minimum of three (3) years™ experience in undertaking residential projects as against five (5) years prescribed earlier and should have good track record in terms… Read More

Tags: Affordable housingExternal Commercial BorrowingfinanceLok SabhaNational Housing BankNHBPublic housingReal Estate

Real Estate (Regulation and Development) Bill, 2013 Introduced in Rajya Sabha

The Real Estate (Regulation and Development) Bill, 2013, as approved by the Union Cabinet in its meeting on 4th June 2013, was introduced in the Rajya Sabha today . The Bill has been piloted by Dr. (Ms) Girija Vyas, Minister of Housing and Urban Poverty Alleviation . Soon after its introduction, the Bill was referred to the Parliamentary Standing Committee on Urban Development… Read More

Tags: BillCabinet of IndiaEstate agentGirija VyasRajya SabhaReal EstateReal Estate Regulatory AuthorityRegulation

Government will Continue to Play Pioneering Role in Providing Policy Stimulus to Real Estate Sector

Government will Continue to Play Pioneering Role in Providing Policy Stimulus to Real Estate Sector : Dr Girija Vyas; Delivers Keynote Address at National Convention of CREDAI at Moscow Dr Girija Vyas , Minister for Housing & Urban Poverty Alleviation has stated that the Government will continue to play a pioneering role in providing policy stimulus… Read More

Tags: Affordable housingGirija VyasGovernment of IndiaIndiaJawaharlal Nehru National Urban Renewal MissionMoscowReal EstateVyas

Master Circular Housing Finance

RBI/2013-14/67 DBOD. No.DIR.BC.17/08.12.001/2013-14 July 1, 2013 Ashadha 10, 1935, (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Master Circular Housing Finance Please refer to the Master Circular DBOD No. Dir. BC.7/08.12.001/2012-13 dated July 2, 2012 consolidating the instructions / guidelines issued to banks till June 30, 2012 relating to Housing Finance. The Master Circular has been suitably updated… Read More

Tags: BankCommercial bankLoanLoan-to-value ratioMaster CircularNational Housing BankReal EstateReserve Bank of India

RBI Notification on External Commercial Borrowings (ECB) for the low cost affordable housing projects

RBI/2012-13/539 A.P. (DIR Series) Circular No. 113 June 24, 2013 To All Authorised Dealer Category I Banks Madam / Sir External Commercial Borrowings (ECB) for the low cost affordable housing projects Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 61 dated December 17, 2012 on… Read More

Tags: Affordable housingECBExternal Commercial BorrowingfinanceForeign Exchange Management ActNational Housing BankReal EstateRupee

Change of Guard: Girija Vyas takes charge as New Minister for Housing & Urban Poverty Alleviation

Ms. Girija Vyas, took over as the new Minister for Housing and Urban Poverty Alleviation (M/oHUPA), here today. She was welcomed by the senior officers of the Ministry. While briefing the media, after assumption of office, Ms Girija Vyas said social service is always her priority area and will utilize each minute available for alleviation… Read More

Tags: Girija VyasIndiaLokSabhaLower HouseNational Commission for WomenRajasthanReal EstateUrban area

Cabinet to Consider Land Sale Bill to unlock values

The Union Cabinet is set to consider on a policy which is aimed at helping unlock values of unused land under Government Institutions in a transparent manner. Salient features of the proposed comprehensive Land Sale policy: It covers land owned by statutory bodies and surplus land having a market value of less than Rs 50… Read More

Tags: Airport Authority of IndiaAshok Chawla CommitteeCabinet of Indialand alienation policyLand Sale BillOrganizationsReal EstateReal property

CLR Snippets | Real Estate Watchdog

In order to ensure that the real estate promoters undertaking housing projects, utilize the funds collected for a particular project, for the development of the same project and not invest it elsewhere (leading to delay in execution and probable cost escalation), the provision for keeping a specified percentage of money collected from the allottes, to… Read More

Tags: Ajay MakenBillHUPALok SabhaNew DelhiPublic housingReal EstateRegulation

Single Window Clearance System for Real Estate Projects

Housing Start-up Index to be Formulated by Housing Ministry in collaboration With RBI National Urban Livelihood Mission Will Replace Existing SJSRY Shri Ajay Maken, Union Minister for Housing and Urban Poverty Alleviation today informed that the Government had sanctioned projects worth Rs 41723 crores for building of 15,69,000 houses/dwelling units for Economically Weaker/Lower Income Group… Read More

Tags: Ajay MakenIndiaJawaharlal Nehru National Urban Renewal MissionLok SabhaMinistry of Housing & Urban Poverty AlleviationNational Housing BankReal EstateSwarna Jayanti Shahari Rozgar Yojana

A Real Estate Trader can also claim benefits under section 54F

CLR Editorial Note: It was observed that the source of income of the assessee was mainly from the business of purchase and sale of plots/lands. It was ruled that such an assessee cannot be debarred from purchasing and holding some plots/land as capital asset and claim benefit u/s 54F. ----------------------------------------------------------- IN THE ITAT JODHPUR BENCH… Read More

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