A MATTER OF TRUST

Global City

On October 10, Securities and Exchange board of India (Sebi) released consultative guidelines for the operation of REIT, five years after delivering its first draft on the subject, in 2008.

Currently, individuals either have to invest in property directly, or through closed ended funds with a minimum transaction size of Rs. 1crore. With REIT you could invest with small sums, receiving proportional returns.

Once the Real Estate Investment Trusts come into effect, individuals can invest in property funds even with small sums of money.

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Real estate market: How to build India’s future cities

Real estate market How to build India's future cities

The main reason that the Indian real estate market finds itself in trouble today is that prices have become unaffordable, even for most professionals. The underlying reason for this is an artificial scarcity of land in our cities
The resultant shortage of land where apartments, offices and shops can be built inflates prices. Today, as demand starts to weaken across property markets countrywide, we need to think of ways to build really affordable real estate.

To know more: Real estate market: How to build India’s future cities

Hindu Business Line: Bank Seek Priority Sector Tag For Loans To Affordable Home Builders

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The Reserve Bank Of India is examining a plea by banks to recognize loans given to builders/developers of affordable housing projects as priority sector lending.
Strong demand on housing will have a beneficial impact, creating demand for steel, cement and credit, at a time when the economy is on the midst of a slowdown.

Indian Express: Inclusive Housing Needs The Right Policy

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When metros are planning to bring in new thoughts for utilizing inner city space, it is necessary to move out of state-controlled projects. Marja Hoek-Smit, director, International Housing Finance Program at The Wharton School, University of Pennsylvania says the solution bring in both developers and those for whom the houses are being built into the equation.

Magicbricks.com – The right time to buy property was yesterday: Rustomjee

Rustomjee Ozone

Rustomjee Ozone, Goregaon (W)

Rustomjee is an established name in Mumbai real estate. The city is expanding outwards and new areas are emerging as realty hotspots. Abhishek Kapoor, CEO, Rustomjee, shares his views on the city’s real estate, the challenges and prospects and the company’s projects and insight on the best property investment in Mumbai.

Some of our upcoming residential projects are Rustomjee Oriana and Rustomjee Seasons (in BKC Annex), Le Reve and Rustomjee Paramount, both in Khar (W), Rustomjee Elements and Elita (in Upper Juhu), Rustomjee Meridian, Kandivali (W), Rustomjee Summit, Borivali (E), Rustomjee Evershine Global City, Virar (W) and Rustomjee Urbania, Thane (W). On the commercial front, the two projects are Rustomjee Central Park, Andheri (E) and Sangam in Santacruz (W).

Read more: The right time to buy property was yesterday: Rustomjee

 

Livemint.com: Budget’s real estate sops aimed mostly at affordable housing

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Real estate got a shot in the arm from finance minister P. Chidambaram in the budget for the next financial year, but it was mostly limited to affordable housing. He proposed a Rs.2.5 lakh deduction on the total taxable income on home loans less than Rs.25 lakh.

The deduction is applicable on loans from banks and non-banking financial companies (NBFCs). Currently, the deduction on interest payment of home loans is Rs.1 lakh, irrespective of the amount. With this proposal, a Rs.25 lakh home loan will get a total tax deduction of Rs.2.5 lakh on interest payments.

Property analysts tracking the real estate sector said that this would offer a welcome impetus to budget housing, first-time home buyers and to some extent, boost demand in smaller cities and the distant suburbs in metros.

Boman Rustom Irani, chairman and managing director of Rustomjee Group, said the two disappointments for the sector in the budget are that the real estate regulator, aimed at ensuring transparency, wasn’t announced and the sector hasn’t been given infrastructure status.

Read more: Budget’s real estate sops aimed mostly at affordable housing

Times Property: Priority list

Priority list for the real estate sector

Priority list for the real estate sector

The real estate sector hopes for lower interest rates, easier finance options and simplification of procedures from the upcoming budget.

As a sector that contributes significantly to meet one of the basic demands of life, the housing industry has much to ask for the Finance minister in the upcoming budget.

Enlisting his demands, Boman Rustom Irani, CMD, Rustomjee says, “Currently, the sector is looking at certain key policy decisions which make home buying a priority for everyone in the country. Giving infrastructure status to the affordable housing sector will help facilitate easy financing and address the housing problem to a large extent.”