Stung by new service tax proposals on property transactions, real estate bodies such as CREDAI (Confederation of Real Estate Developers Associations of India) and Maharashtra Chamber of Housing and Industry (MCHI) are planning to approach the finance ministry to seek a rollback of some of the propos...

To boost affordable housing, finance minister Pranab Mukherjee has proposed an extension of the 1% interest subsidy scheme until March 2011. The government had introduced this scheme in the last Budget to promote low-cost housing. Under this scheme, borrowers will be given a 1% subsidy on the first ...

Though the Budget was welcomed by the industry and markets, it threw up some unpleasant surprises as well. One such proposal is that the services provided completely offshore by a non-resident to a resident of India would be caught within the Indian tax net. According to legal experts, the Budget h...

Office space rentals in India are expected to fall up to 20% in the next three quarters, with key cities like Delhi and Mumbai slated to witness a sharp decline of 50%. According to the global real estate consultant Jones Lang LaSalle (JLL), the decline in property prices in India is expected to con...

The reluctance of several real estate developers in Pune and Mumbai region to scale down property rates in keeping with the market gloom has turned into a business opportunity for players from other states. Sensing a good business opportunity, they are entering the Mumbai-Pune ring. They are wooing ...