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China’s revenue from government land sales down 18.3% in H1 2024, – Homevior

Representative Image BEIJING: China’s government posted an extended decline in land sales revenue in the first half of 2024, finance ministry data showed on Monday. Revenue from government land sales fell 18.3% year-on-year, compared with a 14% drop in the first five months of the year. Land sales, a key barometer tracking property sector momentum …

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What real estate industry gained from Budget 2024-25, – Homevior

NEW DELHI: Nirmala Sitharaman, minister of finance, presented the union budget 2024-2025 in Lok Sabha on July 23, 2024. Presenting her seventh straight budget, Sitharaman said, India’s inflation continues to be low, stable and moving towards the 4 per cent target. Core inflation (non-food, non-fuel) currently is 3.1 per cent. She also said this budget …

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G20 Prioritises Discussions on Digital Tax Amid Looming Tariff Threats from US- Homevior

Talks over a global tax deal are continuing well past a June 30 deadline and governments are now looking to a Group of 20 finance leaders meeting this week for progress on a stalled plan to reallocate taxing rights on large multinational companies. The so-called “Pillar 1” arrangement, part of a 2021 global two-part tax …

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Tamil Nadu CM launches housing projects worth Rs 541 crore, , – Homevior

CHENNAI: Tamil Nadu Chief Minister M K Stalin on Monday unveiled newly built flats costing Rs 541 crore and also launched a simple, instant online approval for building permits. About 4,184 flats that were constructed on behalf of the Tamil Nadu Urban Habitat Development Board for Rs 541.32 crore and 1,459 flats for government servants, …

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DTCP razes six illegal colonies in Alipur, Raisina and Bhondsi, – Homevior

Representative Image GURUGRAM: The town and country planning department executed a large-scale demolition drive, clearing six illegal colonies spread across 30 acres in the villages of Alipur, Raisina, and Bhondsi of Sohna tehsil. According to officials, the operation was carried out with police support and resulted in the demolition of around 40 unauthorised structures, including …

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Keppel acquires One Paramount 1 tech park in Chennai for Rs 2,100 crore, – Homevior

Representative Image Singapore-based global asset manager and operator Keppel has acquired One Paramount 1 tech park in Chennai for about ₹2,100 crore, said three people aware of the deal. The prime office asset is jointly owned by realty developer RMZ Corporation and Canadian pension fund CPP Investments. The property in Chennai’s Porur area is spread …

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Vietnamese builder’s trial starts in $146 million graft case, – Homevior

Representative Image HANOI: A former Vietnamese property and aviation tycoon charged with $146 million in fraud and stock market manipulation went on trial in Hanoi Monday, the latest corruption case targeting the communist country’s business elite. Trinh Van Quyet, who owned the FLC empire of luxury resorts, golf courses, and the budget Bamboo Airways, had …

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China’s central bank cuts interest rates to revive property sector, – Homevior

Representative Image BANGKOK: China’s central bank cut key interest rates in a surprise move Monday aimed at injecting new life into its ailing property sector, while the ruling Communist Party released details of a top-level meeting focused on strategies for revving up the slowing economy. The People’s Bank of China cut the five-year loan prime …

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RERA in states and UTs dispose of nearly 1.25 lakh consumer complaints, – Homevior

NEW DELHI: Real estate regulators in states and Union Territories have so far disposed of nearly 1.25 lakh consumer complaints against developers, according to the Economic Survey 2023-24. The Real Estate (Regulation & Development) Act, 2016, popularly known as RERA, was enacted to bring about much-needed reform in India’s real estate sector. The main objective …

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