Sell inventories now instead of waiting for market conditions to improve, Union Commerce and Industry Minister Piyush Goyal has told real estate developers in a video conference organised by NAREDCO. Goyal suggested that while the government is considering ready reckoner rates as concession, it would be better if developers move ahead in case it does not go through, as per Read More

Uttar Pradesh Chief Minister Yogi Adityanath on June 14 visited Gautam Buddh Nagar to review various development works. He also met real estate developers and homebuyers to discuss issues relating to delays in the delivery of housing units, sources said. As per estimates, over 3 lakh homebuyers in UP are yet to receive their houses. The chief minister met real estate Read More

Real estate developers are now taking recourse to RERA and lodging complaints against homebuyers for non-payment of dues. As many as 50 such cases have so far been filed with UPRERA, sources told Moneycontrol. Some builders have also filed complaints with UPRERA against development authorities for not issuing completion certificate on time, they said. As many as 43 cases have been Read More

The GST rate cuts are proposed to be accompanied by denial of input tax credit to builders. A group of ministers (GoM), led by Gujarat Deputy CM Nitinbhai Patel, has recently recommended 5% GST (goods and services tax) for under construction properties and 3% GST for affordable housing, which has been welcomed by both industry experts as well as property Read More

The Supreme Court will on Thursday hear the Unitech real estate developers’ case. On September 15, the top court refused to grant interim bail to Unitech’s Managing Director Sanjay Chandra in connection with alleged fraud case related to delaying of housing projects in Noida and Gurugram. The apex court, three judge benches, headed by Chief Justice of India (CJI) Dipak Misra, Justices A. M. Khanwilkar and D. Y Chandrachud also Read More

+ In a big move, Uttar Pradesh Chief Minister Yogi Adityanath on Sunday warned builders to provide timely possession to the buyers.  Speaking at the ‘UP Ahead Conclave’, organised by CREDAI in Lucknow,  Adityanath said that it was imperative for builders to win the trust of the people, adding, that the real estate sector was facing the “challenge” of meeting Read More

Five special economic zone (SEZ) developers including Abex Infocom have approached the government to surrender their IT sector tax-free zones. The Board of Approval (BoA) chaired by Commerce Secretary Rita Teaotia would take a decision on these applications in its meeting on April 28. All the five zones are from IT/ITeS sector. In all these cases, “formal approval has been Read More