Bangalore
A construction worker died and other two co-workers suffered injuries in a wall-collapse incident at an under-construction commercial complex near 80 Feet Road, Indiranagar. Mohammad Ashrab Ali, 19 died, while Ali Zaheer-ul, 30, and Yasin Ahmed, 25 injured, were shifted to a nearby private hospital for treatment. The incident took place on vacant land near Tangaiah [...] Continue Reading »
In a welcome initiative, The Janaagraha Centre for Citizenship and Democracy, a not-for-profit organization in Bangalore, has launched a website to connect the city’s residents with administration officials and elected representatives. The website, www.ichangemycity.com, will allow the residents to post complaints related to civic issues such as sewage problems that will be collated and sent [...] Continue Reading »
Lanco Infratech, a realtor limited to power and road projects, with nearly Rs 23,000 crore of long-term debt, is negotiating with some banks for an easier loan repayment schedule. Sources said that the company is negotiating with individual banks for extension of loan tenure and lowering of interest cost as some of its power plants [...] Continue Reading »
Spat was caused between Bruhat Bangalore Mahanagara Palike (BBMP) and Residents Welfare Association of Pillana Garden area due to Bangalore Water Supply and Sewerage Board (BWSSB) asserting residents of the area to pay half the money to re-lay the footpaths that were being broken by the civic utility. According to the residents, the BWSSB broke [...] Continue Reading »
The Confederation of Real Estate Developers Associations of India (CREDAI) has put forward a plan to the Prime Minister to enable reforms in the real estate sector and help rejuvenate it. Home sales registrations continued to decline in the first half of 2012, although by only 3.4 per cent when compared to the same time [...] Continue Reading »
Knight Frank’s latest report focuses on uncovering the relationship between the developer and the suppliers of factor inputs such as Land and Construction costs. Land is the most significant input for property development. Analysis of land allotment policy of some of the major land aggregators provides interesting insights: City and Industrial Development Corporation (CIDCO) follows [...] Continue Reading »
Due to less supply and delayed monsoon, cement costs rose to Rs 55 per bag across markets. A source said the hike will not stay long since it is due to supply shortage and onset monsoon. South has witnessed a mixed trend with Hyderabad and Bangalore seeing a correction of Rs 5 per bag, and [...] Continue Reading »
The Ministry of Defence alleged that the state government was trying to scuttle the probe into the Adarsh society scam,it questioned the CBI’s finding that the controversial land belongs to the state government. Major general Deepak Saxena, chief ofstaff for Maharashtra, Gujarat and Goa areas of the Indian Army, filed an application on behalf of [...] Continue Reading »
The Confederation of Real Estate Developers Association (CREDAI), on Wednesday, called for comprehensive reforms in areas related to land administration, banking and taxation to lift the realty sector and support in meeting the shortage of 26 million houses. CREDAI unveiled 10-point agenda to revive the sector, which is facing demand slowdown due to high interest [...] Continue Reading »
The commissioner of Bruhat Bangalore Mahanagara Palike (BBMP), MK Shankarlinge Gowda, announced on Tuesday, that the authority is looking for more partnerships with realty developers in building houses for economically weaker sections (EWS) in the city. During the interaction of BBMP with Confederation of Real Estate Developers’ Association of India (CREDAI), Adarsh Developers M.D, BM [...] Continue Reading »
