Hi guys, welcome back to the Brand new set of weekly news roundup where we update you about happenings in the real estate world in the past week. So let’s get started!
- Beginning with good news for the under-construction property owners. The GST Council scheduled to discuss lowering GST on under-construction flats and houses to 5 per cent on January 10, as well as hiking exemption threshold for SMEs.
- Update on the housing sector. According to revised National Housing Bank (NBH) data with the new base year the housing prices increased in 33 cities by up to 22% during April-June quarter this fiscal, while rates fell in 14 cities by up to 13 per cent and 3 cities remained constant.
- Next update on RBI’s latest relief. Due to the RBI’s latest relief on Small value loans to micro and medium level firms along with lenders, the banks with a large share of loans against property are expected to get a boost.
- Bengaluru to get revamped. In order to maximise space utilisation and boost the city’s visual appeal the government is functioning on an urban renewal policy to redevelop old CBD buildings in Bengaluru.
- Update on MahaRERA’s dismissal. Realty developer Neelkamal Realtors’ slowdown argument for not sticking to the scheduled possession as promised to the buyers has been dismissed by the MahaRERA.
Well that’s all for this week, we’ll come up with new set of weekly news roundup next week until then stay updated and try to remember your new year resolution throughout the year.
Neelkamal Realtor’s ‘slowdown’ argument for delays Dismissed by MahaRERA