The real estate industry, passing through a protracted recession even before the pandemic which worsened it manifold FP Staff February 03, 2021 22:05:49 IST
The real estate sector is confronting crippling liquidity for a long time. A relaxation in norms for raising capital, tax incentives for home buyers, reduction in housing finance cost through preferred interest rates, continuing subsidies under Pradhan Mantri Awas Yojana (PMAY), and paving the road for the quick availability of Alternate Investment Funds (AIF) are some of the relief measures the sector expects. These initiatives will put more money in buyers’ and developers hands, stoking the revival in the sector.
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NEW DELHI: Shares of real estate stocks rallied in Monday s trade ahead of the Budget 2021.
At 10.15 am, shares of Prestige Estates were ruling 4.19 per cent higher at Rs 278.20. Phoenix climbed 3.54 per cent to Rs 774.30. Oberoi Realty advanced 3.19 per cent to Rs 543.50. DLF rose 1.92 per cent to Rs 260.30. Sobha, Godrej Properties and Indiabulls Real Estate added up to 1 per cent.
The BSE Realty index rose 47.69 points or 1.97 per cent to 2,466.21 and was the top performing sectoral index on BSE, thanks to high expectations from the Budget.
In case of real estate, a Rs 2 lakh rebate is available on housing loan interest rates under section 24 of the IT Act. There are expectations that this rebate could be increased to at least Rs 5 lakhs. If that happens, real estate stocks such as DLF, Godrej Properties, Prestige Estates, Brigade Enterprise, Ashiana Housing would be in focus. It would also be positive for building material players such as Kajaria Ceramics, Century
Realty sector gets a booster shot
Realty sector
The realty industry, which was impacted heavily because of the coronavirus pandemic and economic downturn, has received a much-needed booster shot in the budget presented by the Finance Minister Nirmala Sitharaman on Monday. The government has responded positively to the realty industryâs demand by extending the period for extra deduction of Rs 1.5 lakh available for loans up to March 31, 2022. Further, the FM has proposed extension of the tax holiday for one more year.
ANAROCK CMD Anuj Puri said the union budget was literally a make or break even considering the ââMargaret Thatcher moment.ââ ââAs anticipated affordable housing and rental housing got a big boost with the extension up to March 31, 2022 for extra deduction of Rs 1.5 lakh available for loans. This will keep demand buoyant for affordable housing in 2021 as well. Further, extending the tax holiday for affordable housing projects for one
Union Budget 2021: Realty sector wants finance minister to accord long-awaited industry status The last few years have witnessed a major downfall in the real estate sector owing to demonisation, GST, RERA, NBFC crisis, says Sanjay Daga, COO, Runwal FP Staff January 31, 2021 19:39:28 IST Expectations rise for real estate sector ahead of budget.
The real estate sector is confronting crippling liquidity for a long time. A relaxation in norms for raising capital, tax incentives for home buyers, reduction in housing finance cost through preferred interest rates, continuing subsidies under Pradhan Mantri Awas Yojana (PMAY), and paving the road for the quick availability of Alternate Investment Funds (AIF) are some of the relief measures the sector expects. These initiatives will put more money in buyers’ and developers hands, stoking the revival in the sec
Budget 2021: Here s what the Indian startup ecosystem is hoping for
Ahead of this year’s Union Budget on February 1, here’s what business leaders, entrepreneurs, investors, and other stakeholders from the Indian startup ecosystem expect from the Indian government.
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2020 was a year full of challenges for livelihoods and the overall economy of the country, sparked by the COVID-19 pandemic. According to the
National Statistical Office (NSO), India s GDP is estimated to contract by a record 7.7 percent during 2020-21 fiscal as the pandemic severely hit key manufacturing and services segments.
The Union Ministry of Finance is all set to roll out additional measures to revive the slowing economy, post the Rs 20 lakh crore COVID-19 relief package announced in May 2020.