Delhi realtors will now pay higher labour cess as govt revises calculation formula
India | April 07, 2022 6:51 ISTThe labour cess is collected by the government as one percent of cost of construction projects worth Rs 10 lakh and above.
The labour cess is collected by the government as one percent of cost of construction projects worth Rs 10 lakh and above.
Shristi Infrastructure Development Corporation CMO Abhishek Bhardwaj said there is demand in the industry to redefine affordable housing.
"In compliance of the Supreme court order, Supertech has signed an agreement with Edifice Engineering for the execution of demolition of twin tower and made an advance payment to it for mobilisation of men, materials and machines to site as per this agreement," a Supertech spokesperson said.
The government has listed for sale real estate assets of state-owned telecom companies BSNL and MTNL at a reserve price of around Rs 970 crore.
The real estate sector is divided into four sub-sectors -- housing, retail, hospitality and commercial. It is the second-highest employment generator, after agrarian.
The third set of Swiss bank account details of Indians under an automatic exchange of information pact with Switzerland will be revealed this month, officials told news agency PTI.
The Gautam Buddh Nagar administration Wednesday attached flats, villas and land plots worth Rs 344.23 crore over the non-payment of dues by 32 real estate developers, according to an official order.
According to CBI sources, the central probe agency had initiated a preliminary enquiry for corruption against Lalu Prasad and the real estate developer DLF group in Jan 2018.
The Supreme Court on Tuesday struck down West Bengal’s law on regulating the real estate sector in the state.
The real estate sector, which took a hard hit due to COVID-19, is pinning hopes on the union budget to be presented on Monday for easing regulatory norms and for steps that will help in the completion of pending projects and the sale of build-up houses.
The realty industry remains one of the most precise bellwethers of the state of India's economy. Like all other sectors, real estate, which contributes more than 8 percent to the Indian economy, too has expectations.
Now, buying homes will be cheaper in Maharashtra. In a big boost to real estate hit by the coronavirus pandemic, the Maharashtra government on Wednesday decided to cut all premiums related to the sector by 50 percent. It will be applicable till December 31, 2021.
Captech Technologies said that its 'eFORCE' app has developed a capacity to deploy over two lakh labours in the first four months of launch.
Due to the COVID-19 pandemic, an economic crisis engendering high volatility in the capital markets is leading to investors losing their hard-earned money, at least for the time being. Most of the sectors have been badly affected due to the COVID-19 economic crisis
Post the announcement of lockdown 4.0, many things have changed. Especially the restrictions under 5 different zones (Containment, Buffer, Red, Orange and Green Zone) changed the demand for work from home so far.
The effective implementation of the real estate law RERA will help in restoring the trust between the developers and property buyers, besides ensuring that there are no defaults in delivery of projects, Housing and Urban Affairs Minister Hardeep Singh Puri said on Saturday.
Real Estate experts have called the Modi government's economic booster announced for the real estate sector on Wednesday as "much-needed" and hoped that this would provide the sector with more breathing space.
Nirmala Sitharaman’s decision to extend RERA-imposed completion deadlines on real estate projects, has been hailed across the real estate sector.
The real estate industry on Friday hailed RBI's decision to boost liquidity into the system and provide relief to loans taken from NBFCs for commercial projects, but sought one-time restructuring of their loans and a stimulus package to help the sector in battling the crisis caused by the lockdown to control COVID-19.
HDFC chairman Deepak Parekh on Tuesday said that the real estate price might fall by 20 per cent in the counrty post the COVID-19 crisis. According to CNBC TV18 Parekh has listed a set of suggestions to the state government, regulator Reserve Bank of India and developer community to help the real estate sector survive the financial and economic crisis.
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