CREDAI Maharashtra to showcase projects at Indian Property Show in Doha

Maharashtra chapter of Confederation of Real Estate Developer's Associations of India (CREDAI), the apex body of the organized real estate developers/builders across the state of Maharashtra (excluding Mumbai) will have a special pavilion at the upcoming Indian Property Show - Doha to be held on March 29-30 at Convention Center - Al Wajba Ballroom, La Cigale Hotel between 10 am to 8 pm.

The 2-day property extravaganza is being organized by Sumansa Exhibitions in association with Media Plus Qatar. 17 district level associations spread across the state are members of CREDAI Maharashtra; with over 1400 individual member developers encompassing over 75% of the organised private development in the state.

FDCC, Ishwar Parmar Group, Nyati group, Achalare Rachana, Pyramid ventures are among the developers showcasing their projects under CREDAI Maharashtra pavilion at the exhibition.

"Weakened rupee has given a big boost to NRI buyers and they should seize this opportunity as experts predict rupee to still remain weak in next 6 months. All Gulf NRIs will have to return to India one day; hence investment into properties makes perfect sense due to its minimum volatility and stable appreciations. 

However, you should choose a location that is familiar to you and stick to a reputed builder, there is greater chance that projects of reputed builders will appreciate more than others," said Sunil Jaiswal, CEO Sumansa Exhibitions, organizers of Indian Property Show.

"Real estate scenario in Tier II and Tier III cities in India looks promising, with soaring prices in metros, these cities provides cost effective alternatives and have emerged as excellent investment option. The government is also taking special measures to provide the smaller cities with infrastructural facilities and the initiation of the SEZs. The growth in tier-II and tier III cities is attributed to good appreciation, rising urbanization, rapid industrialization and better infrastructure and facilities as metros reach a saturation point," Jaiswal added.

The upcoming Indian Property Show will provide perfect platform for developers and potential property buyers to interact face to face. Unique features such as "Free Exclusive Seminars" would be a special highlight of the show. The not-to-be missed property and investment seminars will be conducted by some of the most influential property industry gurus, vaastu consultant and legal advisers. These aim to guide the buyers on the booming real estate markets within India along with the benefits of investing now.

The exhibitors at the show include best of the Indian real estate developers, construction companies, banks and real estate agents. Developers will be showcasing apartments, villas, row houses, commercial, retail properties and farm land from across India from cities like Delhi, Noida, Greater Noida, Gurgaon, Jaipur, Mumbai, Navi Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Kochi and more.

Real estate sector seeks lower finance costs, faster clearances

 

Also on the real estate developers' wishlist is a sustained structure of governance for the sector and introduction of methods to reduce the time taken to obtain the permissions and clearances for a project. A delay in the completion of a project, mainly due to delayed clearances, always leads to cost escalation and higher prices for consumers, they argue.

PUNE: The country's real estate players are hoping that the finance minister's budget provisions, to be announced on February 28, will bring down the costs of finance for the construction sector, which they insist will play a major role in offering lower rates for their product, according to media report.

 Lalit Kumar Jain, national president of the Confederation of Real Estate Developers' Associations of India (Credai), told  Times News Network that the finance minister should allow tax exemption for inputs used in construction of small houses, of under 60 sq m carpet area. Special housing zones on the lines of Special Economic Zones could also be created, with tax exemptions for constructing 45 sq m houses for low income groups and 30 sq m houses for the economically weaker sections, Jain said.

He said, "Widespread tax incentives can be leveraged to make the real estate sector the new growth engine of the economy...It is high time that the government took a pragmatic and practical look at the real estate sector and took steps that help the industry in particular and the economy in general." Interest rates for housing loans should be cut to 7.5%, he added.

Credai suggested that a Real Estate Investment Trust be formed and called for special rental housing projects under the affordable segment, treating the expenditure as capital investment for long-term capital gains, exemption from income tax, service tax, value added tax and stamp duty for rental housing. Even the rental income from these projects must be exempt from income tax as there are substantial indirect benefits, the apex body has said.

Anuj Puri, chairman and country head for real estate advisory company Jones Lang LaSalle India, told Times of India that considering that the budget is expected to be a populist one ahead of the 2014 polls, addressing the compromised GDP and skyrocketing inflation must be given the highest priority.

The government should come up with simple and effective polices that will ease real estate development approval procedures. Obtaining the 57-odd permissions to begin construction of a project can take up to two years. During this time, the cost of acquisition or even just holding the land for projects goes up. Lack of single-window clearance mechanisms causes project delays, which prove to be expensive to both developers and end users, Puri added.