Highlights of Indian Real Estate Market on 2013
By SiliconIndia | Thursday, January 23, 2014
Looking at the highlights of real estate market on 2013.
*Land Acquisition Bill passed in Parliament.
*Norms for special economic zones relaxed.
*National Housing Bank forms Mortgage Guarantee Company to extend mortgage guarantees to banks and housing finance companies against defaults by home loan borrowers.
*New fund raising norms for HFCs and builders through ECB for low cost housing and easing of ECB norms for raising borrowings for infra finance companies.
*SEBI releases draft norms for REITs, opening new avenues for retail investors for safe and transparent investment while providing a life line to fund-starved developers.
*India's largest, 2.5 million sq ft Lulu Mall opens in Kochi.
*Reverse mortgage reformed by making annuity income from loan tax-free and increasing the tenure of annuity payment to full life period.
*Sops for the first-time home buyers in the form of additional one lakh tax deduction on a housing loan up to 2.5 million.
*Year marked with project delays, low sales, inventory pile-up, demand for low-ticket properties and stable prices.
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