Hyderabad
The AP government has ordered to stop a suspected land grabbing attempt on the basis of a 200 year old gift deed. The land is said to be an ‘abadi’ land, a common property of the village. Anil Chandra Punetha, the principal secretary of registration, has stayed an order issued by former chief commissioner of [...] Continue Reading »
Local developers show mixed reactions as the revised government order (GO 245) on affordable housing issued by the Municipal Administration and Urban Development (MAUD) department on Saturday. While developers lauded the state government for exempting projects measuring up to 5 acres from the EWS/LIG clause, they rued its decision to lay separate guidelines for the [...] Continue Reading »
The 24 acres land allotted to real estate major DLF Building India by the Hyderabad Municipal Development Authority has been cancelled by Andhra Pradesh Government. The 24-acre site was allocated to DLF located at Moosapet village in the busy Kukatpally area abutting the Hyderabad-Mumbai Highway. The State Department of Municipal Administration and Urban Development late [...] Continue Reading »
The Visakhapatnam Urban Development Authority (VUDA) had auctioned 21 plots in the year 2001, out of the land which was reserved for construction of a community centre. The auction was challenged in the High Court by the then president of the Sri Balaji Park Residents Welfare Association. The court called the act of VUDA as [...] Continue Reading »
The six-year-old real estate joint venture of Hyderabad-based Ramky Group, a well-known name in the field of waste management and infrastructure development, is planning to bring an additional Rs 70 crore into the ventures soon. The Ramky Group and Wavoo Realty, the two equal partners in the joint entity RWD (Ramky Wavoo Developers Pvt. Ltd.), [...] Continue Reading »
Being hit by increased land rates, lack of funds and high interest rates, the real estate sector of India has again been demanding for industry status. Despite the fact that 10 per cent GDP is contributed by realty sector which is the second largest employment provider of the nation, the central government is not giving [...] Continue Reading »
Real estate market experts feel that property prices may come down, but however, it depends on the holding power of the builders. The real estate sales volume has dropped down in six of the major cities in India. Mumbai Metropolitan Region (MMR) witnessed 50 per cent drop, Gurgaon 45 per cent, Hyderabad 34 per cent, [...] Continue Reading »
The rupee value has decreased significantly in the recent time, with the recent exchange value recorded as Rs 60 for a dollar. However, falling rupee is a boon on the part of realty of India and NRIs. Builders are getting plethora of enquiries from NRIs to purchase properties. The number of sales of properties in [...] Continue Reading »
The Greater Hyderabad Municipal Corporation’s (GHMC) efforts to begin property tax collection from the beginning of the financial year have been delayed. GHMC has not even started to send demand notices to the property owners when it has to actually start collecting a penalty for delay in paying tax for the first half of the [...] Continue Reading »
According to the recently released ‘White Paper on Black Money’ by the Union government, real estate is the highest contributor to the total black money generated. Depending on the parties involved and the transaction type, the ‘black money rolling’ percentage within the sector is much higher at around 30 per cent. On an average, the [...] Continue Reading »
