The limited availability of riverbed sand and the ban on sand mining at various places because of excessive and illegal mining have significantly impacted the construction sector. Good quality sand is a must for plastering the interior and exterior surfaces of buildings. Water scarcity and labour crisis are further aggravating the situation. The construction sector is forced to use crushed rock sand, compromising on quality, to complete projects on time. This, in turn, gives
Indore: Adverse effects of recently launched Goods and Service Tax (GST) on construction sector have started surfacing with the rise in tax slabs negatively impacting development works, especially construction of roads and bridges. President of city chapter of Builders Association of India, Arun Kumar Jain said that “We have been facing difficulties in carrying out works under contracts obtained before rolling out of the GST. We have appraised our practical
The Centre plans to open an escrow account to help repay bank loans, speed up ongoing projects
New Delhi: Aimed at attracting foreign investment into the realty sector, government today relaxed rules for FDI in the construction sector by reducing minimum built-up area as well as capital requirement and easing the exit norms.
New Delhi: The Narendra Modi government on Wednesday relaxed rules for allowing FDI in the construction sector, including housing, by reducing the minimum built-up area and capital requirement for foreign investment in such projects. The move will help ease the funds-crunch in the cash-starved realty sector.
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