Delhi-NCR
Delhi’s skyline seemed to be changing soon. The cooperative housing societies in Delhi have shown keen interest in Delhi Development Authority (DDA)’s notification for higher floor area ratio (FAR) for existing group-housing societies. Since the additional FAR can be availed only for new constructions, cooperative societies are exploring possibilities of knocking down old constructions. The [...] Continue Reading »
Office space demand has increased in Noida recently. The demand for small space in the category of 500-2000 sq ft has witnessed the highest demand. However, the supply of these units have been limited, leading to rise in rental values in the last six months. Supply of office units is limited in sectors 18, 124, [...] Continue Reading »
According to South Delhi Municipal Corporation, Delhi Development Authority (DDA) owes Rs 746 crore in property tax with topping the list of property tax defaulters. Around 319 properties and 24 sports complexes in the city for which it is liable to pay property taxes. Housing societies such as HUDCO and CPWD are also found liable [...] Continue Reading »
In a recent announcement by the real estate firm Supertech, it was stated that they have merged with the hospitality chain The Leela Palace, Hotel and Resorts for the management of its luxury hotel in Noida which has been planned to develop with an investment of Rs 450 crore. The hotel containing 250 rooms is [...] Continue Reading »
South Delhi Municipal Corporation (SDMC) has attached rent of 50 properties in Omaxe Square – an office centre in South Delhi. The 50 properties of different owners on second floor of Omaxe Square have been rented out to Wipro. The officials said 50 property owners collectively owe Rs 19,14,616 to the corporation. The property tax [...] Continue Reading »
After the Reserve Bank of India’s decision to hold the rates, real estate developers say that although they welcome the reduction in cash reserve ratio (CRR), they are disappointed with the fact lending rates have remained the same. In the policy announcement, RBI cut banks’ Cash Reserve Ratio (CRR) by 25 basis points (bps), while [...] Continue Reading »
According to the real estate consultant Cushman and Wakefield, investment in real estate has dropped 15% to Rs 3,480 crore in the first three quarters of this year. Transactions for this year are 23, which is marginally lower than the same period last year. Of the total investment in the first three quarters of 2012, [...] Continue Reading »
With the recent regularisation of 900-odd colonies, the Delhi government’s urban development department moving forward with its new policy to seek land in these colonies. These colonies are sought after to construct amenities like schools, dispensaries, parks, electric transformers, police posts and so on. The regulatory colony will have a layout plan stating the details [...] Continue Reading »
A number of buildings came up along the ITO are due to pay property tax, said north corporation. The list of organisations includes Rajiv Bhawan, Rabri Bhawan, Chandrashekhar Bhawan and Maharaja Ranjit Singh Trust, said Mahender Nagpal, leader of the House, north corporation. Municipal Corporation of Delhi (MCD) had issued notices to the defaulters to [...] Continue Reading »
Plans for buildings in the villages of Delhi got approved is set to get easier with the South Delhi Municipal Corporation’s (SDMC) decision to remove the necessity of producing any ownership proof. This move by the SDMC is expected to benefit lakhs of people living in the village who do not have an identification of [...] Continue Reading »
