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Assocham, the industry body proposed a change in the land acquisition bill by stating that the law should have a provision of government assistance for acquiring 100% of land requirement by the private sector. However, a conversation between the chamber and the Rural Development Minister Jairam Ramesh, the suggested provision should be allowed even to the projects which [...] Continue Reading »
Thane has developed into the fastest growing region of Greater Mumbai with prominent developers like Lodha Group, Rustomjee, Puranik Builders, Kalpataru and Hiranandani pronouncing their presence in the region. Thane residential market turnover in 2011-12 stands at around Rs 5000 crores. The premium segment has seen the highest supply in the last two years. Thane [...] Continue Reading »
Incentives like free land allocation and public-private partnerships models have been sought by the realtors in order to increase affordable housing stocks for the economically weaker sections. With the increased shortage of housing for the poor sections of the society, the realtors have come up with this method and demand active government participation which can lead to a way to [...] Continue Reading »
The Mysore City Corporation (MCC) has collected property tax of around Rs 45 crore – or, 58% – of the Rs 77.54-crore with five months left to the financial year. In a move to widen its tax collection, the MCC has targeted around 30,000 properties which were outside the purview all this while. This revenue [...] Continue Reading »
HDFC portfolio Management Services (PMS), a Unit of HDFC Mutual Fund is finding the possibility of exiting its real estate investment, before its next real estate fund, as per an investment banker said. The source said that the exits are of Rs 800 crore -Rs 1,000 crore and range between Rs 100 crore and Rs [...] Continue Reading »
To fulfill the most cherished dream of having roads to connect the remote areas of Manipur, Assam and Nagaland, about 100 Northeast villagers are working hard towards collecting funds to complete the road construction. The deadline will be until Christmas. An example, wherein a resident from Manipur’s remote Phoklong village has contributed Rs 1,000 from his old-age pension for the [...] Continue Reading »
Recently, Japan has revealed that it is looking forward to play a major role in developing India’s infrastructure mainly focusing on the construction sector. Currently, there are about 900 companies who have invested in India specifically in the manufacturing sector. There are only a few companies who have invested in infrastructure space. It is seen [...] Continue Reading »
A recent change has been made by UPA Chairperson Sonia Gandhi in the draft Land Acquisition Bill, making the level of consent of landowners for acquiring land for private purpose even more tougher. The land owners percentage, whose consent is mandatory or acquiring the land for private purposes has been increased from 67% to 80%. With the [...] Continue Reading »
Developers in Dubai are planning to come up with a replica of Taj Mahal worth one billion USD. The replica will be named as Taj Arabia and will be four times bigger than the original monument with one million sq ft of retail space including a 300 room hotel. Link Global, the firm behind the [...] Continue Reading »
IDBI Bank has decided to reduce home loan interest rates for loans above Rs 30 lakh by 25 base points. A 10.50% base rate will be applicable on loans up to Rs 75 lakh, while loans above Rs 75 lakh, the pricing would be 25 bps plus the base rate. The home loan interest saver products [...] Continue Reading »
