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Editor’s Note

palash_royFor the first time since its inception, Realty & More is having a Guest Editor. To start with, we are having Deepak Kapoor, President of Credai Western UP and Director, Gulshan Homz, as our Guest Editor. Now on, we would try to invite an industry stalwart in each issue to be our Guest Editor.

Just when the issue went to print, came the news of the Real Estate (Regulation & Development) Bill being passed in the Rajya Sabha. We had to stop press to include the news in the briefest possible manner. Detailed story will follow in the next issue.

The much-awaited Union Budget this time had some positives for the real estate sector, unlike the previous one. Though the demands for industry status and single-window clearance were not met, there were some announcements of cheer. The removal of DDT (Dividend Distribution Tax) on REITs was one such announcement which shall result into increased activity into the commercial segment. Thus REIT is set to be a reality in true terms in the coming fiscal.

Housing too had something to receive – first-time homebuyers will get additional deduction oH’50,OOO on a maximum home loan of Rs 35 lakh for a house costing not more than Rs 50 lakh. This shall boost buyers’ sentiment, more so in non-metro towns, as metros don’t have much offerings in Rs 50-lakh bracket. More has been announced for smaller, lowcost houses in terms of 100 per cent deduction in profit and service tax exemption. Providing a boost to the rental housing market, the Finance Bill proposed increase in annual housing rent reduction limit.

Mysuru emerged as the cleanest city of the country in the first-ever clean city survey, Swachh Sarvekshan. The survey on cleanliness and sanitation covered 73 cities.

Following the footsteps of Gujarat Government, more and more state Governments are organising grand investment summits to attract domestic and foreign investments. The latest to join the bandwagon is Haryana. The two-day summit proved to be a huge success with investment commitments touching almost Rs6 lakh crore, including some contribution from real estate sector as well.

We have a vast range of contributory articles from industry experts on varied issues – Mahagun Director Dhiraj Jain this time emphasises on the importance of skilled workforce in the real estate sector. Director Gaursons, Manju Gaur, tells about the Zero Garbage concept introduced at their project Gaur City in Greater Noida (West). Schneider Electric Director Thanik Btalks about Smart Homes, and the essential features they shall possess.

While the real estate industry is lately plagued by delayed possession, Assotech Realty Managing Director, Neeraj Gulati boasts company’s adherence to the deadline. Gulati says Assotech Realty has started giving possession of the Phase-I of its integrated Business Park, Assotech Business Cresterra, located at Sector 135, Noida.

Sonica Malhotra, Director of the diversified MBD Group, says India has huge scope of growth in the retail segment in the years to come, but to encash this, she says the sector needs to re-focus and restrategise. Apart from the above mentioned plethora of issues, do not miss out on our regular offerings of home loan rates, new launches, property rates, Vastu tips, and, of course, your monthly horoscope.