Delhi-NCR
The Revenue Department has declared that it is going to introduce changes in the accounting standards for the real estate sector to bring about uniformity in reporting of financial results. The Central Board of Direct Taxes (CBDT) has stated that the report of the CBDT appointed committee on accounting standard for the real estate sector [...] Continue Reading »
Telenor Group has approached Delhi High Court seeking that its Joint Venture partner Unitech Ltd be asked to set aside Rs 6,400 crore, or be directed to provide guarantees for the amount through a deposit. The Norwegian company moved the court as it fears the real estate company may not be able to pay the [...] Continue Reading »
The number of online taxpayers under the jurisdiction of North Delhi Municipal Corporation has significantly increased this year as compared to last year. According to the North Corporation, 1.83 lakh people have paid property tax online, while 1.41 lakh people deposited tax over the counter in the last eight months. The number of online tax [...] Continue Reading »
The residential real estate index prepared by the National Housing Bank (NHB), the housing prices in 16 cities including Delhi, Mumbai, Chennai, Bangalore, Pune, and Kolkata improved in the quarter ending June 2012, compared to the previous quarter ending March 2012. The prices of residential properties in 16 cities have shown an increasing trend in [...] Continue Reading »
With NCR Planning Board has finally given its approval to the Greater Noida Master Plan and opening of Yamuna Expressway, between Greater Noida and Agra, real estate in on track in the area. With the resumption of construction at Noida Extension, good time seems to have arrived for the home buyers. It is a good [...] Continue Reading »
Developers seem to be upbeat about the prospect of real estate industry in Noida Extension. Developers such as Amrapali Group, Assotech Limited and Paramount Group have expressed that the region has immense potentiality as a real estate hub. Noida extension realty sector started with 75 developers offering a range of of 1/2/3 BHK housing for [...] Continue Reading »
Real estate firm Ansal Properties and Infrastructure‘s sales bookings in the first five months of this fiscal have declined by 13 per cent at Rs 1,088.8 crore compared with the year-ago period. The company had sold properties worth Rs 1,250.1 crore in the April-August period last year. The company sold 7.32 million square feet area [...] Continue Reading »
Ravi Saund, COO, CHD Developers Ltd, ha stated that Sohna Road, in Gurgaon, is to become a real estate destination in the Gurgaon area. He states that Sohna Road enjoys an advantage of excellent connectivity with NH8 and has been witnessing a healthy demand, which in near future, will propel it to emerge as a [...] Continue Reading »
Three days of the 90-day deadline given by the Supreme Court to the Sahara Group to repay over 22 million investors in its bonds have passed and it looks like the only way the Sahara Group can repay its debt is by selling off its assets. The Supreme court had confirmed Securities and Exchange Board [...] Continue Reading »
The Noida Extension home buyers are apprehensive of facing problems like cancellations and unethical demand letters from developers after the construction work has resumed. They conveyed their fear to Confederation of Real Estate Developers Associations of India (CREDAI) in a meeting and sought its intervention on the matter. Following the meeting, CREDAI has issued a [...] Continue Reading »
