Delhi-NCR
East Delhi Municipal Corporation (EDMC) is planning to issue passbooks to property tax payers to preserve all property tax correctly and to maintain a records up to date. The proposal was kept before the Standing Committee meeting and it was approved by other members. MK Ahuja said that by issuing passbooks there will be proper [...] Continue Reading »
Godrej Properties Ltd (GPL), the real estate arm of the Godrej group, said on Monday it had created a Rs 770-crore development fund to develop residential properties in India with a clutch of global investors, including Dutch pension services provider APG and Sparinvest Property Fund II. The fund will invest and develop three to five [...] Continue Reading »
Godrej Properties Ltd (GPL) has formed a residential development platform with Rs 770 crore of equity commitment. The platform mainly aims towards the development of the middle-income residential space in Mumbai, Delhi NCR and Bangalore, apart from looking for opportunities in Chennai and Pune. GPL would contribute 29 per cent in the investment platform while [...] Continue Reading »
According to a recent report by property consultants PropEquity, the property sales across the Mumbai Metropolitan Region (MMR) have witnessed a fall of more than 50 per cent. In the first quarter of 2012, absorption of residential property has fallen to 11,473 units compared to 27,676 units in Q1 of 2011. The total residential supply [...] Continue Reading »
The central government is considering to raise the limit of housing loans eligible at interest of one per cent to Rs 15 lakh from the current Rs 10 lakh. The proposal is likely to be discussed in the Union Cabinet this week. The move aims towards activating real estate growth as a major contributor for [...] Continue Reading »
Global realty consultant CBRE on Thursday said absorption level of office spaces in India may come down by about 15 per cent to around 30 million square feet this year due to the current economic slowdown. In the case of large spaces, market is slower and this will lead to fall in office space absorption [...] Continue Reading »
Realty consultant Cushman & Wakefield today said that Indian realty is likely to witness around 25 per cent drop down in land deals around Rs 15,000 crore as a result of decline in demand. According to C&W, smaller realty developers would end up buying most of the lands this year than top players. India had seen [...] Continue Reading »
The BJP government has decided to levy commercial property taxes on properties owned by discoms and power generation companies due to the steep hike in power tariff, especially in streetlights. According to officials, discoms are charging electricity at commercial rates for street lighting and operating pumps in corporation parks. As per the recent order, the [...] Continue Reading »
Indian real estate has been witnessing a major downturn in property sales which is making the developers to look around for specialized profiles that can handle more work and clear off the inventories. Realtors are planning to hire personnel such as cost managers, technical auditors, legal experts, energy efficiency specialists, quality surveyors, and construction project [...] Continue Reading »
Commercial rent trends in the first quarter of 2012 have been idle with rates almost constant, except in some places in major cities of India where there has been a growth. Commercial rents in Lajpat Nagar and Greater Kailash in Delhi have been hopeful as they are preferred choices for commercial renting due to connectivity [...] Continue Reading »
