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1.PNB Housing Finance, the country’s fifth-largest housing finance company, may go for an initial public offering (IPO) in mid-2017, according to a top official.
2.The company is betting on the robust growth in its lending portfolio from Tier-2 and Tier-3 cities and affordable housing segment in metropolitan cities.
3.While the realty sector is facing a slump at macro-level, Mr. Gupta said the mass housing segment is still doing well.
4.The state governments must realise that the increase in volumes will make up for most of the difference (due to lower stamp duties) anyway, he added.
5.“On the one side, the Prime Minister is saying that he will give a subsidy of 6.5 per cent for loans of up to Rs. six lakh for housing. On the other side, you nullify this entire subsidy by taking a higher stamp duty,” Mr. Gupta said.
6.Mr. Gupta also suggested a portion of the registered value of a property be deductible from the owner’s tax burden.
7.“If you were to allow people to offset 20-25 per cent of the registered value of property against their tax burden, it will incentivise them to disclose more transactions,” he said.