Quote from Mr. C.N Govindaraju, Chairman & Managing Director, Vaishnavi Group,  

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“We expect the interest rates on home loans for affordable housing segment which are under Rs.50 lakhs to be around 7% and for the other segments to be sub 8%. We also expect that the IT exemption for housing loans to move up from Rs. 1.5 lakhs to 2 lakhs.In the non-metro areas, the built up area for affordable housing segment has to be taken up from 60sqm to 90sqm ofplinth area. We are also expecting financial institutions to extend their maximum tenure of loan repayment from 20 years to 25 years.The triggers which will bring the momentum back in the real estate industry are lower interest rates on home loans, tax sops to the home buyers, single window clearance for developers and fast track clearance process.”

 

 Mr. Suresh Hari, Secretary, CREDAI Bengaluru 

Since demonetization, the Industry is expecting a greater level of facilities and impetus to the Real Estate.

The announced incentives to Affordable and low cost housing is the beginning.

The expected Industry tag to the sector is a long sought after demand and will improve better financial inflow and management.

Income tax exemption for affordable and dwellings of particular size will ensure that greater reach for demanding home buyers.
Better borrowing terms for real estate industry from commercial banks is a pending demand. Since the Habitat Policy envisages housing for all by 2022, this approach will enable cost of finance considerably comfortable.

Rationalization of plethora of Labor laws, which the Industry faces. 
With GST regime kicking in , better tax administration is expected and more incentives for the sector from local governments is sought.
With RERA being implemented, the customer issue of home buyers is well taken care of. The government need to address  real estate industry with the better tax rates due to increased cost on account  of  RERA impacted cost .

Expectations pertaining to the real estate sector from the union budget-2017

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Quote from Mr. C.N Govindaraju, Chairman & Managing Director, Vaishnavi Group,

 

“We expect the interest rates on home loans for affordable housing segment which are under Rs.50 lakhs to be around 7% and for the other segments to be sub 8%. We also expect that the IT exemption for housing loans to move up from Rs. 1.5 lakhs to 2 lakhs.In the non-metro areas, the built up area for affordable housing segment has to be taken up from 60sqm to 90sqm ofplinth area. We are also expecting financial institutions to extend their maximum tenure of loan repayment from 20 years to 25 years.The triggers which will bring the momentum back in the real estate industry are lower interest rates on home loans, tax sops to the home buyers, single window clearance for developers and fast track clearance process.”

 

 Mr. Suresh Hari, Secretary, CREDAI Bengaluru 

Since demonetization, the Industry is expecting a greater level of facilities and impetus to the Real Estate.

The announced incentives to Affordable and low cost housing is the beginning.

The expected Industry tag to the sector is a long sought after demand and will improve better financial inflow and management.

Income tax exemption for affordable and dwellings of particular size will ensure that greater reach for demanding home buyers.
Better borrowing terms for real estate industry from commercial banks is a pending demand. Since the Habitat Policy envisages housing for all by 2022, this approach will enable cost of finance considerably comfortable.

Rationalization of plethora of Labor laws, which the Industry faces. 
With GST regime kicking in , better tax administration is expected and more incentives for the sector from local governments is sought.
With RERA being implemented, the customer issue of home buyers is well taken care of. The government need to address  real estate industry with the better tax rates due to increased cost on account  of  RERA impacted cost .

Start-up: IndiaMART Emerging to over 3.5 Crore buyers from over 4.3Crore products & get connected, over 29 Lakh suppliers.

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It is the best time to Start-up: IndiaMART Emerging Business Forum

·         Highlights the changing dynamics, challenges, and future opportunities of Indian Startup industry

·         Stresses on the better adoption of technologyamong small businesses to accelerate their growth

Bengaluru, January 23, 2017: The 6th edition of IndiaMART’s Emerging Business Forum 2016-17, held in the city, opened the floor for discussion on the Indian startup industry, its changing dynamics, challenges, and future opportunities.

The event, which concluded on a promising note, involved talks on the importance of digitalization of non-tech startups, and how it can help them alleviate challenges like lack of basic infrastructure and credit instruments. The Bangalore Emerging Business Forum also underlined the need forimplementation of strong policies like the GST Billto accelerate the growth ofsmall businesses across the country.

According to Dinesh Gulati, Director of IndiaMART, “It is important to create a conducive and lucrative eco-system for the new and emerging businesses. A lot has been done in this regard like we now have better infrastructure, access to markets and technology solutions for most of the challenges that we faced back then as emerging businesses. We can’t work in silos. The startups andlarge organizations have to be synced together to maximize economic growth and success.”

Apart from discussing the importance of GST and digitalization on Startups, the Bangalore Emerging Business Forum also included discussions on India’s impending ‘Demographic Bonus’ period, where the working age population would surpass the non-working population. This unique demographic advantage can further prove to become a great opportunity for organizations that are trying to become successful as they will have the advantage of choosing professionals from a talent pool of millions.

The event also highlighted the journey of startups like ProcMart, a B2B platform which connects industry buyers to sellers through quotations.Saheel Joshi, Co-Founder and CFO, ProcMart said, “B2B procurement space has a lot of scope for technology enablement & through a tech-enabled platform, we are trying to help Indian companies thrive in the digital economy.  Adoption of technology has really created a paradigm shift in how young businesses operate today.”

The event concluded with a discussion on what needs to be done to create a holistic startup environment in the country and how can individuals succeed as Startup entrepreneurs.

Other speakers at the event included Dr. R Vaidyanathan , Professor , IIM Bangalore and Ajay Kumar Kapur, Deputy Managing Director, SIDBI and Shidharan G, RSM, Reliance Commercial Finance.

About IndiaMART

IndiaMART is India’s largest online marketplace, connecting buyers with suppliers. The company offers a platform and tools to over 3.5 Crore buyers to search from over 4.3Crore products and get connected with over 29 Lakh reliable and competitive suppliers. Founded in 1996, the company’s mission is ‘to make doing business, easy’. The company has over 3500 employees located across 70 offices in the country. Its existing investors include Intel Capital, Amadeus Capital, WestBridge Capital &Quona Capital.