Kolkata
Kolkata Municipal Corporation (KMC) aims to collect Rs 1800 crore from property tax, as per new assessment reports of KMC’s revenue department. Presently, the KMC collects Rs 530 crore from property tax. To take the massive leap, the KMC is set to introduce online payment of trade license fees and contractors’ dues. Apart from this, [...] Continue Reading »
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) said that the market watchdog, SEBI, should categorize housing finance companies (HFCs) as a separate sector from Non-Banking Financial Companies (NBFCs) to attract more fund flows. It suggested SEBI not to club HFCs with NBFCs for the purposes of sectoral limits proposed for investments by [...] Continue Reading »
Tata Group, which is currently building a shopping mall in Amritsar, plans to take its Trillium mall brand nationwide in order to outfit in the country’s beneficial modern retail sector. The 700,000 sq ft mall will be ready by the end of this year or by early next year. The company has three more malls [...] Continue Reading »
The Kolkata Municipal Corporation (KMC) is set to introduce a new system for property tax payment which is believed to ease out the method of tax-paying and generate more revenue to the government. The new method denies visits of corporation inspectors as they are presently doing. The tax-payers will have to make a self-assessment of [...] Continue Reading »
PricewaterhouseCoopers, a global professional services firm, inaugurated its new office in Chennai, on Tuesday, to provide advisory, tax and regulatory services. The company has increased its employee base by 24 per cent at the Chennai Centre to meet the growing demand for various sectors. PwC has its existence in major cities of India like Ahmedabad, [...] Continue Reading »
According to the study by Venture Intelligence, a research service focused on PE and merger and acquisition activity in India, Private equity (PE) firms had invested about USD 1.84 billion during the quarter ended June 2012. The investment amount was 34 percent less than USD 2.79 billion invested in the same period last year. Further, [...] Continue Reading »
Foreign investors are funding Indian real estate market after the release of Press note 2 in 2005 which opened up construction and development for Foreign direct investment (FDI). Many investors who had invested at that time, largely in residential sector, are now heading towards maturity and are withdrawing their prime investments. According to a report [...] Continue Reading »
Land losers have protested against two major players- Jindal Steel & Power Ltd and Dhamara Port Company Ltd (DPCL) over rehabilitation issues. While industrial projects have been stalled over land acquisition row, tension erupted during the public hearing on environment impact assessment for second phase expansion of Dhamra Port, villagers affected by the six million [...] Continue Reading »
The office space absorption in Hyderabad grew 5 % while overall office space absorption across top eight cities of the country plummeted 21% to 13.4 million sft as compared to 16.9 million sft in the first half of 2011, according to a study by global real estate consultancy firm Cushman & Wakefield. This steep drop in office [...] Continue Reading »
The real estate sector has been lying low due to lesser cash inflow in both the commercial and residential segments, hoping that there will be a change in liquidity levels soon. The macro-economic factors such as high interest rates, high land costs, etc. which have a direct effect on the sector, seem not to improve [...] Continue Reading »
