Home buyers and property developers don’t have to worry about having to pay a service tax if they are unable to get completion certificate from the local authority. The government may permit an independent authority to certify that the property is finished. A finance ministry official said, “We are examining the issue and will see… Read More »
The super luxury homes costing between Rs 4 crore and Rs 30 crore, which had taken a nosevide during the slowdown, is making a comeback. During the last year, demand for super-luxury homes has increased by 30-40 %.
There has been a spurt in the share of loans offered by housing finance companies (HFCs) to non individuals. This trend can lead to higher non performing assets (NPAs) according to CARE.