Delhi-NCR
The South Delhi Municiapal Corporation (SDMC) has decided to tackle the issue of property tax payers who have not been paying tax as per the rules. The civic body has taken on the property owners who have got the nature of their property converted from residential to commercial, but have been paying property tax as [...] Continue Reading »
The Public Works Department (PWD) has thwarted an attempt of Greater Kailash-II Resident Welfare Association (RWA)‘s bid to install a gate on an arterial road. PWD staff knocked down the iron pillars that had been installed on a road which gives access to many other colonies – like Chittaranjan Park to Alaknanda. The PWD has [...] Continue Reading »
In order to bring in more properties under the tax net and to have more clarity in identification of properties, the North Delhi Corporation has drafted a proposal for numbering properties. In an innovative act, the corporation has proposed to issue smart cards based on the property number to facilitate easy payment of tax. The [...] Continue Reading »
National Housing Bank has signaled a reduction in interest rates for housing finance companies (HFCs) by reducing its prime lending rate from 10.5 per cent to 10 per cent. The rate reduction is set to affect medium and smaller-sized players in the industry as NHB accounts for 25-30 per cent of the resources raised by HFCs. [...] Continue Reading »
Although real estate offers a good investment option to investors, gold seems to be the safest bet for investments amid uncertainty in other investment avenues in India. According a study by industry body Assocham, investments in gold have yielded higher returns compared to those in equity and real estate in India during the last three [...] Continue Reading »
The government is all set to bring in a package to boost real estate activity by easing lending and provisioning norms for banks. The finance ministry is set to work out a strategy to boost the sector as developers expressed their inability to cut prices to increase demand. The ministry has been in talks with [...] Continue Reading »
The housing and urban poverty alleviation ministry has stated that of the 17.95 million housing units that came up in the country between 2007 and 2012, 11.09 million houses, or nearly 62%, are either vacant or locked up. It throws a light on the practice of buying houses not for staying there but just to [...] Continue Reading »
Pataudi Road, located in the vicinity of three major highways –Gurgaon Expressway (NH-8),the upcoming Kundli-Manesar-Palwal (KMP) Expressway and the Dwarka Expressway, is on route to become a residential hub in NCR. A part of the 2021 Gurgaon-Manesar Master Plan, Pataudi Road offers affordable prices at present and the increase in demand is set to push [...] Continue Reading »
After issuing the notification for regularisation of 895 unauthorised colonies, the Delhi government has now asked the city’s municipal corporations to clear the layout plans for these colonies. The layout plan includes boundaries of the unauthorised colonies and it is to be drawn in consultation with the resident welfare associations(RWA). The layout plans are to [...] Continue Reading »
Noida Authority has demolished several unauthorised constructions spreading across 25,000 square metre land in two villages along the Greater Noida Expressway. Constructions worth Rs 500 crore have been demolished in Shahdara and Nalgarha villages. While unauthorised construction on 10,000 square metre land in Shahdara village has been demolished, unauthorised construction on a 15,000 square metre [...] Continue Reading »
