Mumbai
Much controversy has been created over VAT to be payable by the developers to the government of Maharashtra. The state sales tax department has issued a circular to developers which states value-added tax (VAT) at the rate of 5 per cent of the value with retrospective effect would be levied on flats, shops and bungalows. [...] Continue Reading »
Khopoli, a locality situated in the outskirts of Mumbai on NH-4, seems to be offering affordable residential options for real estate investors. The investors can get hold of residential property within a budget of Rs 15 to 20 lakh. The area is surrounded by industries, creating job opportunities in the neighbourhood, thus attracting real estate [...] Continue Reading »
As Union Finance Minister P Chidambaram’s take on realtors seems to invite reactions from the developers. CREDAI national president Mr Lalit Kumar Jain stated that the finance minister should take immediate steps to boost to housing stock supply through special incentives to the affordable segment. He further added that the reported figure of unsold housing [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) is all set to send the final property tax bill in September. The BMC claims that it has completed the billing process and is currently working on the refunds. The civic body is in the process of computerizing the property tax collection system and is planning to use it to [...] Continue Reading »
The commercial real estate scenario at Navi Mumbai is robust. Companies have gravitated to Navi Mumbai owing to reasonably priced real estate and well laid out city. Most software companies in Maharashtra have their offices at Navi Mumbai. IT/ ITeS and IT SEZ companies such as Wipro, Capgemini, WNS, CTS, iGate (Patni), etc have their [...] Continue Reading »
With a unique marketing campaign Xrbia Developers Pvt.Ltd. marked their entry on the social media frontier. This social media campaign was an extension of their existing advertising campaign to promote XRBIA as a unique & idyllic country, with its own communities, culture & occupations, suggesting users to choose the President of Xrbia. Holding the activity [...] Continue Reading »
Research firm, Prabhudas Lilladher, has come out with its report on Mumbai real estate. According to the report, sales continue to witness slowdown in Mumbai and dip in commercial real estate has led to sharp decline in lease registrations. Sales registrations slipped below the 5000 mark for second consecutive month highlighting slackness prior to the [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC)‘s decision to impose fine on civic engineers who delay the process of assigning potholes to contractors has drawn flak from the agency’s engineering unit. The BMC had decided to impose fines on engineers, too, along with contractors,to address the issue issue of repairing potholes within a stipulated time. However, Brihanmumbai [...] Continue Reading »
While exorbitant property price continues to slowdown Mumbai‘s real estate market, the suburbs are providing investment opportunities for buyers. Skyrocketing real estate prices and global economic conditions have badly hit Mumbai’s real estate sector and sales have fallen by nearly 70 per cent. Sales of top 5 real estate players in Mumbai have seen a [...] Continue Reading »
Small builders that have been facing funds crunch for many months now on the backdrop of slowdown in real estate market. They are banking on capital market regulator Securities and exchange board of India’s (Sebi) new Alternative Investment Funds regulations to ease access to money. Over the past several months, banks have cut down on [...] Continue Reading »
