June 01, 2021 - CREDAI Bengal Homes
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June 01, 2021
CREDAI Bengal Daily News Update | 01.06.21
WEST BENGAL NEWS
Newspaper/Online ET Realty ( online )
Date June 01, 2021
Link https://realty.economictimes.indiatimes.com/news/industry/credai-west-
bengal-to-vaccinate-construction-workers/83136162
CREDAI West Bengal to vaccinate construction workers
"Members of CREDAI are ready to organise vaccination camps for construction workers.
We can also bear the cost. For us, safety of all workers and employees is most important,"
CREDAI West Bengal chairman Sushil Mohta said.
Realty firms will vaccinate workers against Covid-19, as asked by the West
Bengal government, to start construction activities as it will help revive 3 lakh jobs and the Rs
90,000 crore industry in the state, Real estate sector body CREDAI said on Monday.
Construction work came to a grinding halt due to Covid-19 restrictions during which only
essentials and continuous process industry were allowed to operate.
CREDAI's state unit said that it will inoculate workers.
"Members of CREDAI are ready to organise vaccination camps for construction workers. We
can also bear the cost. For us, safety of all workers and employees is most important," CREDAI
West Bengal chairman Sushil Mohta said.
Chief Minister Mamata Banerjee on Monday offered this solution to the realty sector in which
work in some 300 large construction sites are stranded due to restrictions to tackle the second
wave of the Covid-19 pandemic.
"Real estate industry is of Rs 90,000 crore. The West Bengal government (annually) gets Rs
6,800 crore as stamp and registration duty and half of Rs 1,100 crore GST revenue from the
industry," Mohta said.
________________________________________________________________OTHER NEWS
Newspaper/Online Money Control ( online )
Date May 31, 2021
Link https://www.moneycontrol.com/news/business/real-estate/india-gdp-data-real-
estate-sector-contracts-due-to-covid-19-impact-in-fy21-6966121.html
India GDP data | Real estate sector contracts due to COVID-19
impact in FY21
The construction sector saw a 14.5 percent growth in Q4 on a year-on-year basis. This
reflects a significant proportion of the government's investment in infrastructure projects.
The financial, real estate and professional services sector saw a growth of 5.4 percent in
Q4 on a year-on-year basis.
The construction and financial, and real estate and professional services sectors have shown a
negative growth of 8.6 percent and 1.5 percent respectively between April 2020 and March
2021 due the impact of COVID-19, official data released by the National Statistical Office
(NSO) showed on May 31.
However, in Q3 and Q4 construction witnessed a rebound before the second wave of COVID-
19. The construction sector saw a 14.5 percent growth in Q4 on a year-on-year basis. This
reflects a significant proportion of the government's investment in infrastructure projects.
The financial, real estate and professional services sector saw a growth of 5.4 percent in Q4 on a
year-on-year basis.
“The overall GDP growth numbers at -7.3 percent are on expected lines. In terms of the
construction and financial, real estate and professional services sector, it is heartening to see the
sectors rebounding in the third and fourth quarters. However, the overall annual growth has
remained in the negative zone because of the impact of the first wave in the first and second
quarters,” Samantak Das, chief economist and head of research, India at JLL.
Going forward, it is important to watch the impact of the second wave on the two sectors, he
added.
____________________________________________________________________________________Newspaper/Online Financial Express ( online )
Date May 31, 2021
Link https://www.financialexpress.com/industry/real-estate-sector-to-cross-usd-1-
trillion-by-2030-housing-secretary/2262372/
Real estate sector to cross USD 1 trillion by 2030:
Housing Secretary
He also noted that real estate is an important sector for the economy with around 11 per share in
the total employment numbers.
The secretary emphasised on having robust digital platforms for smooth and transparent real
estate buying-selling process.
The size of real estate sector is projected to cross USD 1 trillion by 2030, Housing and Urban
Affairs Secretary Durga Shanker Mishra said on Monday. “In 2019-20, real estate sector
contributed nearly 7 per cent to our GDP. Its total contribution was to the tune of USD 200
billion to our GDP….And projections are that by 2030 this number is going to cross USD 1
trillion,” Mishra said.
He also noted that real estate is an important sector for the economy with around 11 per share in
the total employment numbers. The secretary was speaking at a virtual event to launch Housing
Price Index, created by realty portal Housing.com and Indian School of Business (ISB) in
association with industry body NAREDCO. “By 2030, when we are projecting our economy to
go up to USD 10 trillion, nearly 10 per cent of that will come from the real estate sector itself,”
he added.
_____________________________________________________________________Newspaper/Online Magicbricks News ( online )
Date June 01, 2021
Link https://content.magicbricks.com/property-news/other-cities/rajasthan-rera-
gives-realtors-extra-time-to-submit-progress-reports/121476.html
Rajasthan RERA gives realtors extra time to submit progress
reports
The Rajasthan Real Estate Regulatory Authority (RERA) has extended the date for developers
for online submission of quarterly progress report (QRPS) of their registered projects.
In an order issued on May 31, the authority mentioned that the last date for submission of QRPs
for all the earlier quarters and also for the quarters ending on March 31, 2021 has been extended
to June 30, 2021 without any delay processing charges or penalty.
Providing relief to real estate developers amidst Covid, RERA had last year exempted
developers from displaying quarterly report of projects on the regulator's website till March
2021.
The order further states, "If QRP for any quarter, including January- March 2021, is not
submitted by June 30, it will attract penalty under section 61 of the Real Estate (Regulation and
Development) Act 2016 for contravention of relevant provisions. Delay processing charges will
also be attracted on delay in submission of QRPs."
An official informed TOI, as per the mandatory provision, the promoter must upload updates on
the RERA website for the project at the end of each quarter on apartments/flats, status update of
each building, floor, internal infrastructure and common areas construction. Other details
including information on approvals, bank account details, revision in plans, licence issues,
permits or approvals for the projects also must be displayed in public forum.
From January 1, the body (RERA- Raj) had launched online facility for submission of QPR of
registered projects. After that no offline reports were to be accepted.
"The report for a quarter must be submitted within 15 days at the end of the quarter as per the
rule. All those promoters who had submitted offline QPR for earlier quarters had to submit it
online for the previous quarters as well," said an official.
________________________________________________________________________Newspaper/Online ET Realty ( online )
Date May 31, 2021
Link https://realty.economictimes.indiatimes.com/news/regulatory/telangana-
resumes-registration-of-land-properties/83115091
Telangana resumes registration of land & properties
Authorities have allowed booking of slots for registration of documents and other
transactions through the Dharani portal. Tehsildar offices will remain open till 1 p.m. and
all the slots scheduled for the day will be completed during this period.
Registration of land, properties and vehicles resumed in Telangana with the extended relaxation
hours coming into force in the ongoing lockdown from Monday.
The resumption of services came following the decision of the Cabinet to allow registration of
lands, properties under the Stamps and Registration Department and vehicles registration under
the Transport Department during the working days.
Authorities have allowed booking of slots for registration of documents and other transactions
through the Dharani portal. Tehsildar offices will remain open till 1 p.m. and all the slots
scheduled for the day will be completed during this period.
Officials said Covid protocols such as wearing of mask, maintaining social distance, shall be
strictly followed. Only registering persons along with two witnesses will be permitted during
the transactions and no outsiders will be allowed.
The State Cabinet on Sunday decided to extend the lockdown by 10 days (from May 31 to June
9). However, the relaxation timing has been extended. There will be no lockdown from 6 a.m.
to 2 p.m. Till Sunday, the relaxation was in effect from 6 a.m. to 10 a.m.
Chief Minister K. Chandrasekhar Rao directed the police to strictly implement the lockdown
from 2 p.m. to 6 a.m. the next day.
According to Government Order (GO), all shops, offices and business establishments shall
close by 1 p.m.
The lockdown to check the spread of Covid-19 was imposed on May 12 for 10 days. It was later
extended for another week.
With the extended relaxation timing, the government decided to allow some economic activity
by resuming registration of properties and vehicles.
According to the GO, during the lockdown passenger vehicles will be regulated at the State
borders and only passengers with E-passes will be permitted. However, movement ofcommodities will be permitted without any restrictions. All public transport services including TSRTC buses, SETWIN, Hyderabad Metro, taxis and auto-rickshaws will be permitted from 6 a.m. to 2 p.m. However, movement of healthcare workers and passengers for accessing emergency medical services will be permitted. Operation of all inter-state bus and transport services including those by private operators shall stand suspended. "Every person who is required to observe home isolation shall strictly observe the same failing which he/she will be liable for penal action and shifted to Government isolation facility," reads the GO. ________________________________________________________________
Newspaper/Online ET Realty ( online )
Date June 01, 2021
Link https://realty.economictimes.indiatimes.com/news/regulatory/telangana-
resumes-registration-of-land-properties/83115091
Bengaluru civic body extends property tax rebate period till June-
end
The order stated that the decision to extend the last date of the property tax rebate was
taken since it would be difficult for the property owners to pay the tax during the
lockdown.
The Bruhat Bengaluru Mahanagara Palike (BBMP) has extended the property tax rebate period
till the end of June. The BBMP Chief Commissioner has issued an order to this effect.
The order stated that the decision to extend the last date of the property tax rebate was taken
since it would be difficult for the property owners to pay the tax during the lockdown.
The BBMP usually extends a 5 per cent rebate on property tax to property owners who make
the complete payment in the first month of the new financial year. Earlier, the BBMP had
extended the rebate facility till the end of May due to the 14-day lockdown.
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