Real Estate news update: NAREDCO backs skilling initiative, HoH’s plogging initiative at Thane and more

The Free Press Journal

Sheetal Shelar Patil

Central Vista's certified workmen awarded under NIPUN scheme organized by NAREDCO

Aninews.in

ANI | New Delhi

Residential real estate sales in India have breached 2021 levels by far, witnessing a 50 per cent YoY growth. New launches further strengthened during 2022 and registered a growth of 101% YoY with a total of 4,31,510 new homes launched during the calendar year 2022, said the latest report by PropTiger.com, the country’s leading online real estate brokerage company.

The Supreme Court has put an end to a rampant tax dodge, going on for decades, where land parcels, properties, and redevelopment rights worth crores changed hands through partnership firms. Spurred by the apex court’s stand, the Income tax (I-T) department may now turn their glare on past property deals as well.

While Bengaluru and Pune remain the top commercial office destinations for IT-ITeS and co-working occupiers, Bengaluru has overtaken Pune in overall office space activity.

Representatives of realtors' bodies CREDAI and NAREDCO met RituMaheshwari, the CEO of Noida and Greater Noida development authorities and demanded a one-time settlement scheme to clear their land dues citing liquidity crunch. Last month, the Supreme Court recalled its order of June 10, 2020, which had capped the rate of interest at 8 per cent on the dues for land given on lease to different builders. The apex court order is a setback for builders of Noida and Greater Noida in Uttar Pradesh (UP).

We all know that if invested wisely, real estate can be a good investment decision. While most of us would buy a home to live in, many of us may decide to buy a second home as an investment. After all, home prices do rise, and so do rentals, and having a second home can provide financial security in the future. However, the decision is not so simple. Understanding the pros and cons of buying a second home is important.

Pros Of Buying A Second Home:

Ram Rattan Group is a real estate business group that has created a developmental benchmark in agricultural sectors. For all the achievements and development of the group, all the credit goes to Vijay Choudhary, who is the chairman of Ram Rattan Group.

Vijay has proven his mettle in the field as a leader with a vision to establish benchmarks in the sector. His motto, “Let’s Rise Up,” has initiated a positive transformation in farming.

Gurgaon-based Elan group will invest Rs 4,000 crore in developing 8 million sq ft of luxury residential space on Dwarka Expressway, on the 40-acre land parcel it had acquired from Indiabulls Real Estate for Rs 580 crore in January this year.

It is a fully licensed 40 acre land, out of that 30 acre are meant for residential development and 10 acre for commercial spaces.

Trident Realty has launched its new luxury residential project – Trident Hills – in Panchkula. The company has acquired a 200-acre plot of land in Panchkula and plans to invest Rs 3,000 crore to develop an integrated luxury township.

With its sizeable presence in NCR and MMR, the company plans to foray into the Tier-2 real estate market with the launch of Trident Hills. The initial development of the 125-acre land parcel will include plots and low-rise floors.