NEW DELHI: Last week, all parties expressed their consensus on Land Acquisition Bill. However the land bill had to undergo many amendments to receive the consensus of all parties. Continue reading
Property prices may go up with land acquisition bill.
The farmers may be happy to see the parliament passing land acquisition bill. Once the bill gets through the parliament the farmers will be sure of gaining more rights on their land parcels.
Though the bill will bring clarity to the land acquisition; the bill will affect the property prices severely. The prices will shoot up as the bill stands for the consent of the land owners, at least four- fifth of the entire land holders.
Industries also fear that the cost of the projects will be costlier. The land acquisition bill forces them to pay an amount, four times higher than the market price, in the rural areas.
The bill also asks them to pay a double the market price for the land in the urban areas. Project development will not be as easier as the builders have to get the permission of the land owners. Continue reading
Real Estate Sector: ready to thrive in 2013
Real estate sector went through a tough time in the year 2012. The year was noted for its slow pace and declined market. Lower sales and higher construction costs affected the real estate developers adversely. In short the year 2012 was a very difficult one for the real estate developers of India. They faced a tough economic condition as sales stooped down.
Lalit Kumar Jain, National head of CREDAI (Confederation of Real Estate Developers’ Associations of India) expressed his hopes of revival in the year 2013. He said that the year 2012 was a year of loss especially because no corrective step was taken. He moaned that the 2012 remain as a lost opportunity.
Real estate consultancy firm Jones Lang LaSalle India’s Chairman & Country Head, Anuj Puri appeared more confident over the real estate renovation. According to him real estate boom will be more in the final-half of 2013.
The RBI (Reserve Bank of India) has, in recent times, allowed reputable real estate developers to raise funds up to $1 billion. The RBI also has permitted established housing finance companies to raise an equivalent fund. With this new rule the real estate builders and finance companies can raise funds through external commercial borrowings. Continue reading
Residential Prices set to go up with Land Acquisition Bill.
Union Cabinet voted in favor of land acquisition bill. The bill will force the housing prices to go up, report real estate analysts. As per the land acquisition bill the land owners’ consent has become mandatory for all private projects.
The year 2012 witnessed a decreasing price appreciation for the residential sector. This year with the approval of land acquisition bill the situation is going to be worsened. Experts are of the opinion that the bill will necessitate price – hike. In fact the value appreciation will be improved. Continue reading