India Real Estate News Update

Construction Progress at Ireo Victory Valley, located in Sector 67, Gurgaon. Contact the Ireo Team for more information and availability.

Govt has pivotal role by not only being regulator but also largest supplier of land, says Knight Frank

The disconnect between the demand and price of real estate over the last few years has raised serious questions on the position of real estate developer. While there has been a lot of debate about the standoff between house buyer and developer, a little has been discussed about the relationship of the developer with the suppliers of factor inputs such as Land and Construction costs; Knight Franks latest report focuses on uncovering this.

Land

Land is the most significant input for property development constituting almost one-third of the property price in most cases and as high as two-third in some pockets of cities like Mumbai and Delhi

Read more: The Times of India

India Plans Tax Rebate for Equity Investors

India may offer tax relief to individual investors in equities, with a scheme likely to be launched by the end of this month, an official said Thursday, as the government seeks to deepen the country’s capital market.

This is another step the government has taken this year to widen the class of investors, attract more money and reduce volatility in the market. Other measures include allowing foreign investors to directly buy local shares.

Choppy markets and a weak outlook on the economy have kept many, particularly retail investors, from betting on stocks this year. The tax-saving plan is part of the steps the government announced in its budget in March to encourage the flow of India’s significant household savings into financial markets.

Read more: The Wall Street Journal

AAR exempts Mauritius firm from capital gains tax

The Authority for Advance Rulings (AAR), an appellate body for ruling on tax issues, has ordered that a Mauritius-based company be given full benefits of the exemption in the Indo-Mauritius double taxation treaty as the new tax rules announced in the budget have not yet come into effect.

The taxpayer company, Dynamic India Fund I (DIF-I), a company incorporated in Mauritius, is a 100% subsidiary of Dynamic India Fund II (DIF-II), another company based in Mauritius which had invested in India. The company has made investments in India in units and shares of Indian companies.

Read more: The Economic Times

Infosys sets up dedicated facility for Apple work

There will be a lot more of India in Apple products soon. The $108-billion maker of iPhones and iPads is scaling up sharply the work it outsources to Infosys Technologies. The Bangalore-based IT giant has rented a 1.40-lakh-sqft office space near its headquarters in Electronics City to house employees who would work exclusively for Apple. Sources in the real estate industry who did not want to be named said the building would have the capacity to house 1,400 people. The centre will be operational by the end of the year. It was previously reported that Apple CIO Neil O’Connor had met the Infosys top brass in Bangalore in January, leading to speculation that Apple was looking at outsourcing more to Indian companies

Read more:  The Economic Times | The Times of India 

Infrastructure

Air passenger traffic to grow by 11% during this year

Air passenger traffic is expected to grow by 11% during this fiscal and around 1.8 million passengers are expected to be handled by Indian airports during 2012-13.

“The growth is slower than 15.9% and 13.2% recorded during 2010-11 and 2011-12. The deceleration is likely to be effected mainly by a sharp curtailment in the operations of Air India and Kingfisher Airlines,” CMIE’s ( Centre for Monitoring Indian Economy) Economic Intelligence Service for July said.

During April 2012, air passenger traffic rose by 7.6% year on year to touch 135.2 lakh passengers. Domestic air passenger traffic rose by 8.3% during the period. International passenger traffic grew by a slower 5.6% in April 2012.

Read more: The Times of India

Delhi-Mumbai corridor to develop an important industrial cluster in country

Urbanisation along the emerging Delhi-Mumbai Industrial Corridor is expected to merge Ahmedabad, Vadodara and Surat into an important industrial cluster of India, according to consultancy firm Jones Lang LaSalle.

This industrial hub is expected to attract large investments given the business- friendly environment created by the corridor with the support of the Gujarat Government. With 24-hour power supply, special investment regions, closely knit roads and Government support, Gujarat has emerged one of the key investment destinations in the country. And this busy cluster is expected to spur hectic development.

Read more: The Times of India

Anand Sharma announces Rs 70,000 crore infrastructure projects in Haryana

Union Minister for Commerce, Industry and Textiles, Anand Sharma announced investment of Rs 70,000 crore entailed in projects coming up in Haryana including National Manufacturing Investment Zone at Manesar-Bawal Investment Region, setting up of a National Institute of Design at Kurukshetra, National Institute of Fashion Technology (NIFT) in Panchkula and an International Horticulture Hub, Gannaur.

“The progress in Manesar-Bawal region will see total infrastructure investments of over Rs 71,000 crore and total estimated investments in the region will be in the range of 2.5 lakh crores,” the Union minister said after meeting heads of the state in Haryana and Punjab. He said that the over the next 30 years it would provide employment to over 28 lakh people.

Read more: The Economic Times

Education

India’s Education Sector: Moving Toward a Digital Future

The typical Indian classroom was once characterized by students sitting through hour-long teacher monologues. Now, technology is making life easier for both students and educators. Schools are increasingly adopting digital teaching solutions to engage with a generation of pupils well-versed with the likes of PlayStations and iPads, and trying to make the classroom environment more inclusive and participatory.

Take Smartclass from Educomp Solutions, one of the first Indian companies in this space. Smartclass is essentially a digital content library of curriculum-mapped, multimedia-rich, 3D content. It also enables teachers to quickly assess how much of a particular lesson students have been able to assimilate during the class. Once a topic is covered, the teacher gives the class a set of questions on a large screen. Each student then answers via a personal answering device or the smart assessment system. The teacher gets the scores right away and based on that, she repeats parts of the lesson that the students don’t appear to have grasped.

Read more: India Knowledge

Real Estate News

CREDAI demands single window clearance system to speed up approval processes

Real estate industry body, CREDAI, has demanded for a single window clearance system, to speed up the approval processes. “McKinsey has said in its report to the Government of India that delays in approval processes alone increase sale value of houses by 40%,” said CREDAI in its press release.

The industry body has also taken up the issue of confusion caused by varying instructions from state and central government.

Read more: The Economic Times

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