Myshopdeal

The year 2016 has come and gone so fast! For the Indian real estate sector, it was a big year of news and policy level changes. As we, all are preparing for 2017; let us take a look at the major milestones and trends that defined the past 12 months and will have a significant bearing on prospects of the market as well. 1. Various policy reforms jiggled the market, but everyone agreed over their long-term positive implications: The year started with hope and optimism with the union budget announcement that seeks to set in place the foundations for a robust economy in the longer term by prudent fiscal management. While the whole economy was going through the policy reform, real estate sector remained in headlines due to many policy level changes. Real Estate (Regulation and Development) Act 2016 (RERA), Benami Transaction Prohibition (Amendment) Act 2016, amendments in Real Estate Investment Trusts (REITs) regulations, Goods and Services Tax (GST) and Demonetisation, were the

Firm to use proceeds to buy back 20% stake sold to Goldman in 2014, expand hospitality business. Despite the added uncertainty in the realty market after Demonetisation, Vatika Group , one of the largest non-listed companies in the segment in the north, has managed to raise close to Rs 1,700 crore in less than 10 days from various investors. The company plans to buy back (in 2017) the 20 per cent stake it sold to Goldman Sachs in 2014, said Mr. Gaurav Bhalla , Managing Director of Vatika Hotels , the group's hospitality arm. In the latest round, Vatika Hotels raised Rs 495 crore from Axis Bank to finance its aggressive growth plans. The company has a major expansion on the anvil in 2017, in commercial real estate, hotels, hospitality and a new quick service restaurant (QSR) venture, which it aims to take abroad as well. Within a week, Vatika Group sealed three major investment deals, while the rest of the market is fighting the effects of demonetis

Impact of Demonetisation on Land Prices Following the government’s Demonetisation drive, land prices in the fringe areas around metros and tier-2 and tier-3 are likely to plummet in the coming years. This may bode well for home seekers looking for affordable housing Post-demonetisation, the affordable housing segment, which is confined to the fringe areas of metros, is expected to get a boost as land prices will plummet in the next few years, especially in far-flung areas around Indian metros, and the tier-2 and tier-3 cities. Most agricultural land transactions, involve a cash component, which has been affected after prime minister Narendra Modi’s announcement on the evening of November 8, 2016. Rs 500 and Rs 1,000 notes ceased to exist as legal tender from November 9. Land dealings involving a cash component, therefore, will no longer be carried out in the old ways. Those dealing in cash, will be unable to pay in the old currency notes and those with undeclared sources of