News

Real estate is largest employer after agriculture and is slated to grow at 30% over next decade Industry size:   India’s real estate market is expected to touch $180 billion by 2020   Source: India Brand Equity Foundation Employment figure:   The Indian real estate sector has backward and forward linkages to approximately 265 ancillary industries. It employs over 50 million people.   Budget 2017 In India, real estate is the largest employer after agriculture and is slated to grow at 30 per cent over the next decade Source: National Skill Development Corp Contribution to gross domestic product (GDP):   Real estate contributes over six per cent to the country’s GDP Source: India Brand Equity Foundation Key issues or areas of concern for the sector Slow pace of sales leading to large unsold inventory (large demand-supply gap) Lack of investment support and insufficient funds, especially for project construction Industry demands Infrastructure status f...

After a long gap, global investors are buying large retail properties for big bucks.  While investors are buying them to build their portfolios, global retailers are acquiring properties to enter markets such as Mumbai. A month after Singapore government-owned $100-billion sovereign fund GIC bought 50 per cent stake in   Viviana Mall   in Thane, on the outskirts of Mumbai, for over Rs 1,000 crore, US-based private equity (PE) firm Blackstonebought a one-million-square-feet mall being developed byL&T Realty in the Seawoods area of Navi Mumbai, said a source. The deal is expected to be closed between Rs 1,200 crore and Rs 1,500 crore. Blackstone and L&T Realty executives could not be contacted for comments. Late last year, Blackstone acquired two retail assets of Gurgaon-based developer Alpha G in Amritsar and Ahmedabad for around Rs 800 crore. "Many global investors are looking to buy good mall properties. It will help them build portfolios in the c...

After getting relief from capital gains and minimum alternate taxes last year, developers now seek exemption from the dividend distribution tax (DDT) for real estate investment trusts (REITS) in the upcoming Budget to make them attractive for investors. Despite tax concessions last year, REITs have not taken off. Their argument is that after paying almost 20% DDT, rate of return on these units would not be lucrative compared to other investments. At the current times, post-DDT,  Read Full Article Over Here :  Business Standard News Read our full coverage on  Union Budget 2016