#RealtyNewsRoundUp: Realty Showing Signs of Improvement, Says Economic Survey 2017-18

Description

While stating that a series of major reforms undertaken over the past year would allow gross domestic product growth to reach 6.75 per cent this financial year, the Economic Survey 2017-18 that was tabled in Parliament on January 29 said that the real estate sector had begun to show signs of improvement. In the first half of the year 2017, the sector saw foreign direct investment of $257 million, which was more than double the total FDI in the entire 2016, the Survey said

***

India is ranked after South Africa as the cheapest country to live or retire, according to a recent survey of 112 countries. The survey by GoBankingRates ranked nations on the bases of four key affordability metrics provided by online pricing database Numbeo. With the second lowest rent index among the 50 cheapest countries (after neighbour Nepal) , living in India can be cheaper compared to most of the countries.

***

The Maharashtra government has received clearance from the Ministry of Defence for preparing a detailed project report of the proposed international airport near the Pune city. German company Dorsch is preparing the detailed project report (DPR) , and will also develop the new airport at Purandar in Pune. The primary estimated cost of the airport is Rs 14,000 crore. 

***

Solar industry experts have expressed their concerns over future of the sunrise industry which is facing threat due to the proposed imposition of 70 per cent safeguard duty on import of solar power equipment. For this, experts are expecting some breather from the Union Budget 2018-19. Industry experts believe that the imposition will not only increase the tariff by almost Rs 1, but it will put the projects under execution in deep trouble, resulting in making them unviable, turning them into non-performing assets.

Source: Media reports