At long last, India’s overpriced real estate market could come back to earth with a thud. Developers trying to sell costly property cannot find buyers, who in turn find themselves squeezed out of the market by rising mortgage costs and inflated property prices. Inventory, jargon for built-up homes that haven’t been sold, is piling up. [...]

Special economic zone (SEZ) developers are peeved over the continued uncertainty created by the direct tax code (DTC) drafts, released by the union finance ministry, over tax benefits prescribed by the SEZ Act. They want the central government to retain the SEZ Act, as passed by the Parliament, as they fear linking it with the [...]