CA Rajkumar S. Adukia
Real estate has emerged as one of the most appealing investment areas for domestic as well as foreign investors. With the development of private property ownership, real estate has become a major area of business. In fact it has evolved into several distinct fields like – valuation services, brokerage, development of property, property management, real estate marketing, etc.
With attractive pricing and innovation in construction technology and variety of designs, NRIs are taking a fresh look at India as a unique market in which they can invest. FDI flows into housing and real estate in April-March 2011-12 stood at US$ 731 million, according to the Department of Industrial Policy and Promotion (DIPP). In fact, housing and real estate sector including Cineplex, multiplex, integrated townships and commercial complexes etc, attracted a cumulative foreign direct investment (FDI) worth US$ 11,168 million from April 2000 to April 2012.
Despite the turmoil that followed the global financial crisis, the Indian real estate sector has remained buoyant and attractive to both foreign and domestic investors due to the robust domestic driven demand.
The Real Estate (Regulation and Development) Bill, 2011 aims to establish a Regulatory Authority and an Appellate Tribunal to regulate, control and promote planned and healthy development and construction, sale, transfer and management of colonies, residential buildings, apartments and other similar properties. Once implemented it is likely to pave the way for a fairer and more transparent scenario.
There is no denying the fact that the growth of the Indian economy has been one of the fastest in comparison to other countries over the world and thereby impacted the real estate sector of India. The ever growing economy and the increasing purchasing power of the people have made real estate the most sought after sector.
An informative handbook offering comprehensive information on real estate has been attached for your reference.
The Book overs the following topics :-
1.1. Key drivers of real estate growth
2. The term “Real Estate”
2.1. Other important terms
3. Real Estate Sector in India
4. Real Estate Sector in other countries
5. History of real estate
6. Overview of Real Estate laws of India
6.1. The Indian Contract Act, 1872
6.2. Transfer of Property Act, 1882
6.3. The Indian Easements Act, 1882
6.4. The Indian Stamp Act, 1899
6.5. The Registration Act, 1908
6.6. The Land Acquisition Act, 1894
6.7. The Land Acquisition, Rehabilitation and Resettlement, Bill, 2011
6.8. Draft Real Estate (Regulation & Development) Bill, 2011
6.9. Rent Control Act
6.10. Property Tax
6.11. FDI guidelines for real estate
6.12. Income Tax
6.13. Service Tax
7. Real Estate – Deeds/Agreements
8. Authorities and Organisations related to the Real Estate sector
9. Professional opportunities in Real Estate
10. Important websites
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