Category Real estate news

Recently, company workers carried out soil testing of the entire stretch and are now establishing temporary structures, which will aid them during construction.

GURUGRAM: Infrastructure major Larsen & Toubro has started work on the Gurugram portion of Dwarka Expressway (nearly 20km).

Recently, company workers carried out soil testing of the entire stretch and are now establishing temporary structures, which will aid them during construction.

The company has taken up packages 3 (Haryana border to Basai railway overbridge) and 4 (Basai railway overbridge to CPR/SPR/NH-8 junction). The Dwarka Expressway project has been divided into four packages, two of which lie in Delhi.

A senior official from L&T said: “Not a single day has been lost since we were awarded the project...

NEW DELHI: The GST Council is likely to consider lowering GST on under-construction flats and houses to 5 per cent in its meeting next month, an official said.

Currently, the Goods and Services Tax (GST) is levied at 12 per cent on payments made for under-construction property or ready-to-move-in flats where completion certificate has not been issued at the time of sale.

However, GST is not levied on buyers of real estate properties for which completion certificate has been issued at the time of sale.

An official said that this 12 per cent GST rate ideally would have been partially offset by way of taxes paid on inputs by builders and hence the actual incidence of GST on under-construction home buyers would have been  around 5-6 per cent...

The Prime Minister’s Office & Finance Ministry are in favour of a big GST rate cut on housing and are working to build consensus with states to push this through at the next GST Council meet on December 22, ET Now learns from reliable sources. The intent is to be consumer friendly, and bring home buyers back to the market with a much cheaper GST rate.

Sources say there are currently two proposals on the table.

The first proposal is to slash the 12% GST on housing to 8% and bring it at par with affordable housing under the Credit Linked Subsidy Scheme of the Modi govt.

The second proposal is far more bold. It is to slash GST on housing from 12% to 5% but it does away with input tax credit (ITC) for builders...

Over the past two decades, every pre-election year has seen a decline in investments in the real estate sector, which does not bode well for job creation

At a time when India’s real estate sector is yet to find its feet under a new tax (GST) and legal (RERA) regime, the liquidity squeeze in the non-banking financial sector has morphed into a liquidity crunch for the real estate industry, which had turned to NBFCs (non-banking financial companies) for support after bank lending to the sector began to stagnate.

However, even with the worst of the liquidity crisis behind us, the road ahead for the real estate sector appears bleak and one big reason is the uncertainty around the 2019 elections, a Mint analysis suggests.

Data from the Reserve Bank of India (RBI) show that NBFCs emerged as a l...

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