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According to a survey, the National Property Index (NPI) rose by over three percent October-December quarter (2012) as compared to the preceding three months quarter. These results were obtained despite weak buyer sentiments prevailing in market. National Property Index (NPI) is a weighted average of supply and prices across 11 cities namely Bangalore, Ghaziabad, Mumbai, [...] Continue Reading »
Chandigarh- A revision of property tax rates in residential areas in Chandigarh will be performed by the committee of local bodies department. The Municipal corporation had imposed nominal property tax of Re 1 per square yard annually on residential properties having an area above 125 square yard. This amount paid will be restricted to Rs [...] Continue Reading »
According to Uttar Pradesh Apartment (Promotion of Construction, Ownership and Maintenance) Act 2010, there are five provisions on the formation and management of residents welfare association (RWA), which include : Association of flat owners: Association of flat owners is one of the five clauses which states that each and every apartment should have an association [...] Continue Reading »
Chandigarh- ATS Group has launched its new residential project named “ATS Golf Meadows Lifestyle” at Dera Bassi, Chandigarh. ATS Golf Meadows Lifestyle is a gated community spreading across 26 acre of land. It has 14 towers comprising of total 1040 homes designed in the Mediterranean style. The project offers luxury 3 bhk, 3+1 bhk and [...] Continue Reading »
Provident Housing, a wholly-owned subsidiary of Puravankara Projects is planning to launch an affordable residential project in Mangalore. The project is spread over 4.15 lakh sq ft and comprises of 324 units. The name of the project is Skyworth, the property is located at Derebail, near Konchady, on the airport road, which is well-connected to [...] Continue Reading »
Property owners who are staying within 500 metres radius and along the outer ring road (ORR) need to pay betterment tax. MUDA has proposed to impose tax on the property owners to generate more revenue. The civic body is planning to collect Rs 20 crore in the next fiscal from the proposed betterment tax. If [...] Continue Reading »
Bhubaneswar- Tata Housing Development Company Limited, a renowned real estate company in India, has announced its first integrated residential complex “Ariana” in Bhubaneswar. The company has entered Odisha market by launching “Ariana” at Shankarpur which is jointly developed in association with the Bhubaneswar Development Authority (BDA). This new residential project in Bhubaneswar sprawls across 12 [...] Continue Reading »
Jaipur- Trial runs for the Jaipur Metro at nights is likely to start in few days. The General Manager of Delhi Metro Rail Corporation (DRMC) said that, the newly purchased coaches will have trial runs in non-revenue hours (11pm to 6am). And the coaches that were brought earlier from Delhi metro will be run during [...] Continue Reading »
Lucknow- Due to shortage of revenue inspectors, Lucknow Nagar Nigam (LNN) has reduced the target of house tax to Rs 100 crore from Rs 120 crore. The revenue inspectors had planned to collect house tax from all houses which comes under tax net. In Lucknow, around 5,62,000 properties come under tax net. According to authorities, [...] Continue Reading »
Guwahati- Assam Chief Minister has announced the state’s budget 2013-14 which includes the proposal of Metro rail project for Guwahati. The estimated cost of the Metro rail project would be around Rs 1,800 crore. The budget includes projects for the improvement of infrastructure and other civic amenities and widening and upgrading of state highways. The [...] Continue Reading »
