Real estate sector revenue loss at Rs22,000 crore in Q3: Knight Frank
Impacted by demonetisation, property sales in the December quarter plummeted 44%, said Knight Frank
- EPFO cuts administrative charges to 0.5%, firms to save together Rs900 crore annually
- Inclusion of ATF under GST will help airlines cut cost, says Suresh Prabhu
- Bajaj Hindusthan Sugar posts Q4 loss at Rs158 crore
- NALCO Q4 profit falls 4% to Rs257 crore
- Corporation Bank posts Q4 loss of Rs1,838 crore as provisions surge
Kolkata: Real estate consultancy Knight Frank Llp has estimated loss in state governments’ stamp duty collection from property sales in the December quarter at Rs1,200 crore.
In a report, Knight Frank has estimated revenue loss to the real estate sector in the December quarter at Rs22,000 crore based on a study conducted in eight cities: Mumbai, National Capital Region, Bengaluru, Pune, Kolkata, Chennai, Hyderabad and Ahmedabad.
Impacted by demonetisation, property sales in the December quarter plummeted 44%; new launches were down 61% year-on-year.
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars