Budget 2021: Impetus to affordable housing welcome, more needs to be done, say realtors
Even as government announces measures to generate demand for affordable housing among first time buyers, real estate sector demands urgent attention on GST issue, liquidity for the industry
Rukmini Rao | February 1, 2021 | Updated 22:42 IST
Representative Image
With the government s aim to provide affordable housing to the urban poor by 2022, Finance Minister Nirmala Sitharaman in this year s Budget has extended the eligibility for availing an additional deduction of interest. The current exemption of additional interest of up to Rs 1.5 lakh for loan taken to purchase an affordable house has been extended by one more year. This means the additional deduction of Rs 1.5 lakh will also be applicable to all housing loans taken up till March 31, 2022, for the purchase of an affordable house. Also in order to improve the supply of affordable houses, realty players can avail the tax holiday for
JP Morgan believes the India residential cycle is turning up with buyer sentiment turning positive on the back of all-time-low mortgage rates and the impact of COVID-19.
BW Businessworld
Sunteck Realty Sees Growth In Pre-Sales For Q3FY21
SRL is one of the fastest-growing Mumbai-based luxury real estate development companies that reported Pre-sales for Q3 FY21 at Rs 349 crore; up by 75% QoQ and by 7% YoY
Photo Credit :
Sunteck Realty Limited (SRL), Mumbai’s premium real estate developer, announced its Q3 and 9M FY20-21 operational updates. SRL saw robust growth in Pre-sales for Q3 FY21 at Rs 349 crore; it was up by 75% QoQ and by 7% YoY as well. Collections also grew at 79% QoQ to Rs 252 crore for Q3 FY21 and by 52% YoY.
As the operations resume post lockdown, the Company has continued its strong sales momentum, supported by its ready-to-move-in, nearing-ready inventory as well as newly launched projects. With the construction activity returning to pre-COVID levels, the Company remains focused on accelerating the project progress across the portfolio to offset the time lost on account of the ongoing pandemic. SRL recently launched the second t
Read more about Sunteck Realty gains after providing Q3 update on Business Standard. Sunteck Realty gained 2.55% to Rs 380.35 after the real estate developer said it saw a robust growth in pre-sales for Q3 December 2020 at Rs 349 crore.