24th September 2012 Posted by: Grant Thornton India LLP In: EconomyIn: Real estate & InfrastructureIn: Tax & Regulatory
The Government recently decided to open up the multi-brand retail sector to up to 51 per cent of foreign direct investment (FDI). Earlier this year, the government notified rules to increases FDI in single brand retail to 100 per cent from 51 per cent. The announcement of FDI in the multi brand retail has definitely…
14th September 2012 Posted by: Grant Thornton India LLP In: Accounting & AssuranceIn: Real estate & Infrastructure
The new accounting guidance poses a challenge for the developer community to ensure its compliance with the new conditions revenue recognition from the real estate projects, as it goes beyond the financial reporting process of the Companies. This change is effective from April 1, 2012 for ALL projects launched or existing projects, where revenue is…
14th September 2012 Posted by: Grant Thornton India LLP In: Accounting & AssuranceIn: Real estate & Infrastructure
Amidst the environment of uncertainty and gloom for the real estate sector, the government has the opportunity to bring back some cheer for the sector and take a pragmatic view to the proposed real estate bill which has been pending for quite long now. The bill should give due attention to the interests of the…
15th June 2012 Posted by: Grant Thornton India LLP In: Real estate & Infrastructure
As per media reports, the Reserve Bank of India has expressed concerns on escalating real estate prices and advised banks to keep a stringent check on loans to CRE companies of late. In order to regulate risks and make loans expensive, banks have reportedly increased risk weightage on loans to developers. Amidst this scenario, developers…
15th June 2012 Posted by: Grant Thornton India LLP In: Real estate & Infrastructure
Amidst the situation of uncertainty in the global economy and weak cues in the domestic market, Indian real estate developers need to evaluate their options for renegotiating loans. To do so effectively, they need to have a thorough understanding of their own financial position as well as that of their lenders. In order to face…