Builders have to refund GST on cancellation of flats booked in FY'19


Builders will have to refund GST paid by home buyers in case he cancels the flat booked in the last fiscal and will be allowed to avail credit adjustment for such refunds, the tax department has said.

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Olympia Group, Apollo Global join hands to build IT park in Chennai


In partnership with US-headquartered alternative asset manager Apollo Global Management, Chennai-based Olympia Group announced that it will be investing Rs 750 crore on a 1.1-million sq ft greenfield IT park in Chennai to be developed over a span of three years.

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Gujarat RERA has the second highest registered projects


Gujarat has left behind all other Indian states except Maharashtra in the registration of projects under the new realty law — Real Estate (Regulation and Development) Act (RERA) — which had come into effect almost two years ago.

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Ready-to-move-in flats preferred choice for buyers; New launch homes demand rises: ANAROCK


Ready-to-move-in flats are preferred choice for home buyers but the demand for newly launched units has also improved with a reduction of GST rates from this April 2019, according to a survey by property consultant ANAROCK.

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Hyderabad surpasses Bengaluru to emerge as dominant office market in Q1 2019: Report


In a first, Hyderabad overtook Bengaluru to emerge at the top in the total office leasing in the first quarter of 2019. The overall leasing activity touched 12.8 million sq.ft in the same period with four dominant cities including Mumbai and Delhi-NCR

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Residential property prices may rise in the second half of this financial year


Residential property prices across India’s major markets are expected to rise in the second half of this financial year as sales momentum is expected to pick up the pace with an increase in demand.

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Raymond group forays into realty business; launches Rs 3,500 cr maiden project in Mumbai


Diversified group Raymond recently announced a foray into the real estate sector and launched its first housing project in Mumbai with expected revenue of Rs 3,500 crore.

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January-March residential sales jump 58%, launches up 91%


Defying previous election year trends when sales and new launches remained muted during this period, the first quarter of 2019 has witnessed both housing sales and new supply rise was driven by several measures by the government including sops offered in the interim budget

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Realtors can opt for old GST rates till May 10, 2019


Real estate firms have time till May 10, 2019, to communicate to their respective jurisdictional officers whether they want to continue with the old GST rates with an input tax credit, failing which they will be deemed to have migrated to new tax rates.

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Realty market to grow, to add 200 million sq ft space in 2019


Indian real estate is expected to witness the addition of nearly 200 million sq ft of space in 2019 across categories including office, retail, residential and logistics to reach 3.7 trillion sq ft. Of this, nearly 40 million sq ft development will be new office space to be released over the next 12 months

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