Blog
By accepting you will be accessing a service provided by a third-party external to http://www.arundevelopers.com/
Centre will take a call on realtors' demand in a week #lockdown #wewillgetoverthis #stayhome #lovehome #homeisbest
Centre will take a call on realtors' demand in a week
Construction activity is halted and even when the lockdown is lifted, questions remain as to how it can resume at full force with a withered manpower. Ongoing projects are set to be delayed between 3-15 months.BENGALURU: The central government will take a call in the next one week on the demand by developers that stamp duty be waived off for a short period on property purchases and RERA compliance deadlines be extended for a year, union housing and urban affairs secretary Durga Shanker Misra said.
National Real Estate Development Council (Naredco) has put forth these demands to the housing ministry at a time when Covid-19 has dealt yet another body blow to the residential real estate market with project delays seemingly inevitable as many labourers have moved back to their native villages and towns.
Construction activity is halted and even when the lockdown is lifted, questions remain as to how it can resume at full force with a withered manpower. Ongoing projects are set to be delayed between 3-15 months.
"We will let you know within a week about the demands," Misra said speaking to developers at a webinar organised by Naredco on Friday.
The realtors are also asking for a short term waiver of stamp duty, which they say will push down the property prices and make it attractive to buyers when demand is expected to fall more. Since stamp duty is a state subject, the centre needs to consult with the states. Prices are expected to come down further as builders are loaded with huge stock of unsold invetory in a struggling market. Deepak Parekh, chairman of HDFC, said earlier this week he expects residential apartments prices to fall by 20% in the near term.Follow and connect with us on Twitter, Facebook, Linkedin
National Real Estate Development Council (Naredco) has put forth these demands to the housing ministry at a time when Covid-19 has dealt yet another body blow to the residential real estate market with project delays seemingly inevitable as many labourers have moved back to their native villages and towns.
Construction activity is halted and even when the lockdown is lifted, questions remain as to how it can resume at full force with a withered manpower. Ongoing projects are set to be delayed between 3-15 months.
"We will let you know within a week about the demands," Misra said speaking to developers at a webinar organised by Naredco on Friday.
The realtors are also asking for a short term waiver of stamp duty, which they say will push down the property prices and make it attractive to buyers when demand is expected to fall more. Since stamp duty is a state subject, the centre needs to consult with the states. Prices are expected to come down further as builders are loaded with huge stock of unsold invetory in a struggling market. Deepak Parekh, chairman of HDFC, said earlier this week he expects residential apartments prices to fall by 20% in the near term.Follow and connect with us on Twitter, Facebook, Linkedin
About the author
Related Posts
Categories
Tags
2020
real estate in chinchwad
Cement
1bhk in pune
stampduty
metro
hindustan times
corridor
PUNE
housing
flat in pune
homebuyer
Chennai
lockdown
home treatment
2019
developers
builders in pune
2 bhk in pune
malls
realestate
PCMC
SAVINGS
1 bhk flat in pune
dwello
AFFORDABLE HOMES
commercial project in chinchwad
impostor
real estate in pimpri
investing in real estate
residential project in pune
purandar
property in pune
syndrome
Property Investment in chinchwad
builders and developers in pune
airport
slump
affordable
health
1bhk in rawat
buy 2 bhk in pune
nashik
budget home in pune
buy a home in pune
yoga
GST
top 3 bhk in pune
1 bhk in pune
covid
anarock
