The National Real Estate Development Council (NAREDCO) has recommended the government take up tax rationalisation measures in the upcoming Union Budget to boost the pandemic-hit real estate sector of the country.On Thursday, the industry body .
Model Tenancy Act likely to be approved by March: Housing secretary
The ministry floated the draft model tenancy law in July 2019. It proposes to establish an independent authority in every state and Union Territory for registration of tenancy agreements and even a separate court to take up all tenancy-related disputes.
The Model Tenancy Act is in advance stages with the template having been shared with the state governments and is likely to be cleared by March, housing and urban affairs secretary Durga Shanker Mishra has said.
“It is in advance stages and we have sent the template to the state governments. Within a month we will be taking it to the cabinet. It should definitely be through by March,” he told reporters.
Real estate industry 2021: What can the sector look forward to? Is the worst behind us?
How the budget pans out for the real estate sector, only time will tell, but one thing is for sure, strong fundamentals are vital for the revival of housing demand
Dhruv Agarwala | January 21, 2021 | Updated 14:59 IST
The pace of revival can quicken, provided the government extends a helping hand and injects enough stimulus to boost the sector and the overall economy
The year 2020 was meant to be a year of recovery for the Indian real estate sector, especially the housing segment. After three years of business disruptions caused by demonetisation, implementation of GST and the realty law RERA, and the NBFC crisis, the market had started stabilising.
DDA to launch new scheme on Saturday
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The Delhi Development Authority (DDA) on Thursday said a new housing scheme will be launched on January 2 and the portal for applications will remain active till February 16.
Under the new scheme, around 1,350 flats across categories will be made available, said DDA officials. “Approximately 1,320 flats of various categories at Dwarka, Jasola, Mangalpuri, Vasant Kunj and Rohini will be provided. The Scheme will be linked to ‘Credit Linked Subsidy Scheme’ under the Pradhan Mantri Awas Yojana – Housing For All (Urban) scheme,” an official said.
‘Completely online’
“The scheme will be launched completely through the online mode through the newly developed AWAAS software of DDA.,” a statement by DDA read.
Big Story | Four reasons why it is a good time to buy a house now
Bavadharini KS
BL Research Bureau |
Updated on
December 19, 2020
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You can act now on your desire to buy a house, provided you have a stable occupation and steady cash flows
A house property is considered one of the most valuable assets for an individual and the lifetime goal of many is owning one. The Covid-19 outbreak has, no doubt, made potential home buyers a bit jittery, with pay cuts and, in some cases, job losses as well.
But at the same time, the pandemic also presents an opportunity, with interest rates at multi-year lows, stable housing prices and sops for home buyers from the government to encourage them to take the plunge.