Weekly News Roundup (13 June 2016) – Real Estate News Under 100 Words

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It Could Soon Become Illegal For Builders To Discriminate Against Caste, Gender, Sexual Orientation
The Real Estate Act went into effect earlier this year, providing much needed relief to home buyers against the malpractices of home builders. The proposed clause against discrimination may not apply to tenants and landlords of rented properties as the Real Estate Act, as it stands today, only protects home buyers. Read more

Nuts and bolts of Real Estate Investment Trusts
The investment objective of REITs is to provide unit holders with dividends, usually generated from rental income and capital gains from the profitable sale of real estate assets. Typically, the trust distributes 90 per cent of its income among its investors by issuing dividends. Read more

Residential real estate now a buyer’s market
Interestingly, 2016 had started on a sunny note. The residential real estate market, which had witnessed a slump in project launches in 2015, showed a visible comeback in the first quarter. Read more

Brookfield to scale up real estate investments in India
As part of the plans, Brookfield will invest in residential projects in top cities from its new $9 billion global real estate fund. These will be transactions in the range of Rs.600-700 crore through the equity or preferred equity route. Read more

30% of India’s real estate sector funded by black money
The study said that the crackdown has had some “unintended consequences” in form of an increase in preference for cash in its physical form and a notable decline in the usage of formal banking channels with record low deposit growth which may keep the GDP growth rate flat this year. Read more

Real estate developer Kanakia Spaces ropes in Zinedine Zidane as brand envoy
The visit was just one of the many promotional activities lined up for the day as part of his endorsement deal with real estate developer Kanakia Spaces Pvt. Ltd for “Paris”, its French-themed residential complex in Bandra-Kurla Complex in the city. Read more

Buyers of under-construction flats may get tax relief
The court also said that if the developer has already collected service tax, buyers would be refunded the amount with 6% rate of interest by the revenue department of the government of India. Read more

How are property developers dealing with the debt burden?
Top builders are selling assets, refinancing loans, raising fresh capital, speeding deliveries to improve collections, selling development rights and entering development partnerships to keep the wolf from the door. Read more

No service tax on under-construction home purchase; builders may tweak pricing after Delhi HC ruling
The Delhi High Court Bench of Justices S Muralidhar and Vibhu Bakhru, however, ruled that service tax can still be levied on preferential location charges (PLC) that builders charge from buyers. Read more

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