Builder Floor for Rent in Sector 19 Dwarka Delhi

The finance ministry may offer builders a 10-year tax holiday on profits earned from rental housing while allowing deductions on expenses. Developers’ rental income is taxed under Section 23 of the Income Tax Act. If the government goes ahead with the plan it would benefit the economy in general and the real estate sector in particular.

Haryana Chief Minister Manohar Lal Khattar on May 27 directed officials to work actively for extension of the Metro network in areas falling within the NCR, which includes Gurugram, Faridabad, Sonipat, Jhajjar and Rohtak. Khattar said the Metro rail extension would ensure ease of traffic and better public transport services to the people of the state. The CM directed officials to explore possibility of bringing the Metro network in Chandigarh, Panchkula and Mohali.

This may be the start of a turnaround for Aurangabad realty with the city all set to become an employment-creation centre. The Aurangabad Industrial City (AURIC) is expected to to create over 1.5 lakh jobs in the city, officials say. AURIC, a smart industrial city right outside the city, will be developed in an area of 10,000 acre as a part of the Delhi–Mumbai Industrial Corridor (DMIC) and will attract an investment of Rs 70,000 crore in the coming decade. This development in the periphery of Aurangabad is expected to boost residential real estate opportunities in the city. Investors, looking for future returns or for rental returns, could both invest in one of the affordable markets of Maharashtra.

The North-South Corridor will be a 29-km stretch between Wazirabad and the Urban Extension Road-II in Dwarka. The project, which will be completed at a cost of Rs 6,000 crore, will be completely funded by the Delhi government. Starting at the Signature Bridge in north Delhi, the corridor will pass through Zakhira, Kirti Nagar, Pankha Road and would end near Dwarka Sector-23, at UER-II.

In a first, the national capital along with the national capital region that includes parts of Haryana and Uttar Pradesh has overtaken the long-standing leader Maharashtra in attracting foreign direct investment (FDI) into the country. The construction sector attracted around Rs 543 crore funds, which is six per cent of the total investment while the infrastructure sector gained Rs 12,862 crore from the foreign investors. A study by London & Partners has listed Bangalore (6) and Hyderabad (14) among top 20 global cities for attracting FDI into the information and communications technology and electronics sectors.