Govt Refusal to Remove Service Tax (investment residential properties) May Hike Property Prices
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New Delhi : Real estate prices may go up with a plea of Urban Development Ministry for withdrawal of 2.5 per cent service tax from the sector not being heeded to by the Finance Ministry. The Budget for 2010-11 proposed a service tax of 2.5 per cent on all under-construction projects in the real estate sector. The Urban Development Ministry, however, wanted to get the tax revoked on the plea that the sector was still to recover from the economic slowdown which it witnessed two years ago.
Urban Development Minister S Jaipal Reddy had on April 15 met Finance Minister Pranab Mukherjee and sought the removal of the service tax. In the meeting, Reddy had said that the sector was going through a difficult phase and the service tax could hurt its interests as also that of the middle class families.
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M3M India Ltd Bags Best Project Award
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New Delhi : M3M India Ltd. won an award at the prestigious NRI summit 2010 held in Dubai recently. The companys upcoming project Golf Estate in Gurgaon has been selected as the most promising project across the real estate sector in India. The panel of judges selected M3Ms Golf Estate as the category winner because of the projects architectural excellence and its unique features.
The project is stated to be one of the finest luxury real estate offerings for the Indian audience. Golf Estate is expected to create benchmarks in excellence and execution in real estate infrastructure. Pankaj Bansal, Director of M3M Group, accepted the award on behalf of the group. The award ceremony was held at the Sheraton Creek Hotel in Dubai.
Golf Estate is poised to be one of the landmark luxury projects to be developed by M3M Group. The architecture will be a perfect synthesis of green eco-friendly landscapes and cutting edge design. The project boasts world class amenities and features including a 110 per cent green cover, phenomenal outdoor and living spaces, state of the art kitchens replete with fittings and fixtures, roof top jogging tracks, world class club houses and a nine hole reverse golf course. Golf Estate will be one of the largest condominium projects, spread over a sprawling 75 acres space across Delhi NCR.
Speaking at the award ceremony, Pankaj Bansal, said: M3M is elated at being felicitated at the prestigious NRI Summit 2010. We are delighted that our Golf Estate project has been chosen as the Best Upcoming Project of India. With buildings as high as 65 storeys in the Golf Estate, it is M3Ms constant endeavour to create benchmarks in luxury real estate properties. We want to create projects that are a perfect amalgamation of unique designs, structural and architectural excellence and the ultimate luxury living solutions. We are committed to offer a global lifestyle experience to all our discerning patrons.
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Wednesday, August 25th, 2010 at 1:55 am and is filed under realestate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
