Date – January 4, 2019 Issue no – 201901

TABLE OF CONTENT 1. CREDAI on Expected Announcement

of 5% GST Rate Reduction

2. CREDAI’s Response on Credit Link

Subsidy Scheme (CLSS) Extension for

MIG 2020

3. CREDAI Makes News

4. Industry Update & Notifications

5. CREDAI Upcoming Events

6. CREDAI at Glance

7. Industry News 8. CREDAI Industry Interface

9. CREDAI E-library

CONTACT US For events/PR/Sponsorship queries – Ms. Meenakshi Chopra, PR & Communications Manager |E: meenakshi@credai.org | Landline: 011-42136200 Follow us on www.credai.org or

CREDAI Wishes you a Very

Happy & Prosperous New Year 2019

CREDAI’s Response on Credit Link Subsidy Scheme (CLSS) Extension for MIG 2020

"CREDAI lauds the Government’s decision to extend the Credit Link Subsidy Scheme (CLSS) on home loans for the Middle-Income Group (MIG) under the Pradhan Mantri Awaas Yojana (Urban) till March 2020, which will prove to be another major push towards the progression of the Affordable Housing segment. We hope that this move will set the tone for a prosperous 2019 for the Indian Real Estate

sector." -Jaxay Shah, President, CREDAI National. To read the notification, please click: https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/a153e1cc-805c-4eb4-bae2-08070073233f/ExtensionCLSSforMIG3.pdf

CREDAI on Expected Announcement of 5% GST Rate Reduction

As a leading industry body, CREDAI is consistently working closely with the Government and other authorities to lead the holistic growth of Indian realty sector. We have recommended the GST rate to be cut to a composite rate of 5% without benefit of the Input Tax Credit. CREDAI believes that this would reduce the adverse impact on the land abatement rate of 33% being offered under the present system. The composite rate of 5% would not only address the imbalance under the present GST regime which subjects under construction projects, but leaves completed units out of its scope, but also free the industry from the requirement of monthly returns for availing input tax credit which are very cumbersome. We firmly believe that this would lead to a transparent, objective and non-discretionary mechanism for GST implementation, thereby enhancing the ease of doing business. We hope that the rate cut, and other policy amendments are made in the best interest of all stakeholders to realize the true potential of the sector, moreover, benefitting the customers. - Jaxay Shah, President, CREDAI

CREDAI National Events Date Location

CREDAI YouthCon’19 Feb 2019 Delhi

CREDAI NATCON 2019 Aug 2019 Tel Aviv, Israel

CREDAI State Chapters Events Date Location

CREDAI Chennai FAIRPRO Feb 2019

Chennai http://www.credaichennai.in/index.php

CREDAI MAKES NEWS!

INDUSTRY UPDATES & NOTIFICATIONS

Coastal Regulation Zone Notification 2018 with

Relaxed Restrictions

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Coastal Regulation Zone (CRZ) Notification, 2018 which was last reviewed and issued in 2011, with periodic amendments to some clauses. The proposed CRZ Notification, 2018 will lead to enhanced activities in the coastal regions thereby promoting economic growth while also respecting the conservation principles of coastal regions. It will not only result in significant employment generation but also to better life and add value to the economy of India Salient Features of new notification:

• Allowing FSI as per current norms in CRZ areas

• Densely populated rural areas to be afforded

greater opportunity for development

• Tourism infrastructure for basic amenities to be

promoted

• CRZ Clearances streamlined

• A No Development Zone (NDZ) of 20 meters has

been stipulated for all Islands

• All Ecologically Sensitive Areas have been

accorded special importance

• Pollution abatement has been accorded special

focus

• Defence and strategic projects have been accorded

necessary dispensation

To read the full coverage, please log on to http://pib.nic.in/newsite/PrintRelease.aspx?relid=186875

CREDAI AT GLANCE

GIHED CREDAI - Gujarat Real Estate Vision 2030 Summit was held on December 21, 2018. Gujarat CM Shri Vijay Rupani graced the occasion with his presence. He talked about the major steps taken by the State Govt like Common GDCR, RERA Simplification, GST, Online NA, speedy approval of TP Schemes and Development Plans, etc to bring transparency and efficiency in real estate sector.

CREDAI Vishakhapatnam Property Show was held from Dec 23-25, 2018

CREDAI Pune metro team felicitate Hon’ble CM Devendra Fadnavis at the inauguration of Mann-Malunge High tech City PMRDA.

CREDAI-MCHI 5th Edition of BIZNET under the Procurement Wing held on Dec 20, 2018. The event witnessed the Participation of 150+ Developers and 180+ Purchase Heads along with one to one meeting with allied industries.

1. Loan portfolio for securitisation likely to rise. Read more

at: https://realty.economictimes.indiatimes.com/news/allied-

industries/loan-portfolio-for-securitisation-likely-to-

rise/66938392

2. Housing sales may rise 16% in 2018; new supply up 32%:

Anarock. Read more at:

https://economictimes.indiatimes.com/wealth/real-

estate/housing-sales-may-rise-16-in-2018-new-supply-up-32-

anarock/articleshow/67076265.cms

3. PMAY-Urban has created over 6 crore jobs in country:

Govt. Read more at:

https://realty.economictimes.indiatimes.com/news/industry/

pmay-urban-has-created-over-6-crore-jobs-in-country-

govt/67155714

4. Stamp duty cannot be charged in retrospect on resale of

old. Read more at:

http://timesofindia.indiatimes.com/articleshow/67186552.cm

s?utm_campaign=andapp&utm_medium=referral&utm_sourc

e=native_share_tray&utm_source=contentofinterest&utm_m

edium=text&utm_campaign=cppst

5. GST collections drop to Rs 94,726 cr in December,

lowest in three months. Read more at: https://www.business-standard.com/article/economy-

policy/gst-collections-drop-to-rs-94-726-cr-in-december-

lowest-in-three-months-119010200032_1.html

6. Govt forms committee for 'effective' implementation of

real estate law RERA. Read more at:

https://economictimes.indiatimes.com/industry/services/pro

perty-/-cstruction/govt-forms-committee-for-effective-

implementation-of-real-estate-law-

rera/articleshow/67326683.cms

Most Anticipated Event of the Year CREDAI YouthCon’19

CREDAI Bengal in association with FICCI organized a conference on "Growth Drivers of Infrastructural Development with Focus on Realty Sector' on December 20, 2018.

INDUSTRY NEWS

Sl. No.

Dated Members Subject

1. 03.01.2019 Shri. Sailesh Jogiani, Under Secretary, Ministry of Housing & Urban Affairs Delegation: 1. Atul Kumar 2. Rajiv Wadhawa

Removal of difficulties in implementation of Real Estate (Regulation and Development) Act, 2016

2. 19.12.2018

Shri Durga Shanker Mishra Secretary, Ministry of Housing and Urban Affairs, GOI, New Delhi CREDAI delegation: Atul Kumar Rai

Recommendations for reduction of GST to 5%

3. 18.12.2018

Shri Durga Shanker Mishra Secretary, Ministry of Housing and Urban Affairs, GOI, New Delhi

Recommendations on GST to promote Housing for All

4. 18.12.2018

Dr. Ajay Bhushan Pandey, IAS Revenue Secretary, Ministry of Finance, GoI, New Delhi

Recommendations on GST to promote Housing for All

5. 18.12.2018

Hon. Prime Minister of India PMO, New Delhi

Recommendations on GST to promote Housing for All

6. 18.12.2018

Shri Suresh Prabhakar Prabhu Hon’ble Minister of Civil Aviation Ministry of Civil Aviation, New Delhi

Inclusion of word “Natural Terrain/ duly authorized existing obstacles/ Building structure” in Schedule II Para 4 of Gazette of India, Ministry of Civil Aviation Notification 751 (E) dated 30 September 2015 deals with Shielding Criteria

7. 18.12.2018

Shri Sanjay Mitra IAS Defence Secretary, Ministry of Defence, New Delhi

8. 18.12.2018

Dr. Subhash Ramrao Bhamre Raksha Rajya Mantri, (Minister of State for Defence), Ministry of Defence, New Delhi

9. 18.12.2018

Smt. Nirmala Sitharaman Hon'ble Raksha Mantri, Ministry of Defence, New Delhi

10. 18.12.2018

Hon. Prime Minister of India PMO, South Block New Delhi-110 001

11. 18.12.2018

Shri B. S.Bhullar Director General, Ministry of Civil Aviation, GOI, New Delhi

12. 18.12.2018

Shri Rajiv Nayan Choubey Secretary, Ministry of Civil Aviation, GOI, New Delhi

13. 17.12.2018 Shri Ajay Tyagi Chairman, The Securities and Exchange Board of India, Mumbai

Representation seeking clarification with respect to schemes and discount offered by real estate developers to buyers

14. 17.12.2018

Shri Sunil Jayawant Kadam Chief General Manager, The Securities and Exchange Board of India, Northern Regional Office (NRO), New Delhi

Representation seeking clarification with respect to schemes and discount offered by real estate developers to buyers

CREDAI’s Govt. Interface Update, December 16, 2018 – January 4, 2019

Date Section Sub-section Document Title Link

02/01/2019 Home Loan Home loans and guidelines

Extension Class for MIG

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/a153e1cc-805c-4eb4-bae2-08070073233f/ExtensionCLSSforMIG3.pdf

02/01/2019 RERA State Rules (UP RERA)

UP RERA: Web based services of Enquiry, Complains and suggestion

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/00e1c85d-08a3-499e-90c2-e9e9ea2f8d76/officeorder-conciliationforum.pdf

02/01/2019 RERA State Rules (UP RERA)

Slandered Operating Procedure for Decantation of complains in UP RERA

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/00e1c85d-08a3-499e-90c2-e9e9ea2f8d76/UpReraSOP.pdf

31/12/2018 Reports & Journals

CREDAI Reports & Journals

The Challenges & Success Stories of Social Housing Around the World

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/de3ee263-78b5-477a-bb1d-1f324a1412ba/affordableissue44.pdf

28/12/2018

Affordable Housing

PMAY 3,10,597 Houses Sanctioned Under Pradhan Mantri Awas Yojana (Urban)

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/9578e183-8a44-40e9-8f36-cde0c048a84d/310597HousesSanctionedUnderPradhanMantriAwasYojanaUrban.pdf

28/12/2018

Smart Cities 100 Smart Cities Selected in 4 Rounds

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/b6cf3ed3-d5af-462d-9101-154f67bdf613/100SmartCitiesSelectedin4Rounds.pdf

28/12/2018

Reports & Journals

Other Research Organization Reports

Status of Rural Development Schemes

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/de3ee263-78b5-477a-bb1d-1f324a1412ba/PressInformationBureau.pdf

26/12/2018 Reports and Journals

Other Research Organization Reports

Housing for all by 2022 https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/de3ee263-78b5-477a-bb1d-1f324a1412ba/Housingforall2022.pdf

26/12/2018 Reports and Journals

Other Research Organization Reports

CBRE Research (Green Buildings: Everything Investors Need to Know)

https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/de3ee263-78b5-477a-bb1d-1f324a1412ba/CBREResearchGreenBuilding.pdf

24/12/2018

GST GST – Concept & status

GST Council meeting https://knimbus.s3.amazonaws.com/org_ab15180f-4cce-4e43-bbb5-f3e159ba0f98/da739c1b-c682-4978-94f4-a8598f18a053/GSTCouncilmeeting.pdf

17/12/2018

Landmark Judgments

Janhit Manch through its President Bhagvanji Raiyani & ANR. Versus the State of Maharashtra & ORS

https://credai.new.knimbus.com/user#/searchresult?sectionId=dca591d6-5168-4752-a2a3-e16f4e53f163&sectionName=Landmark%20Judgments&searchId=&sortFieldId=publication_year

CREDAI E-Library