Other cities
Due to the slowing economy, banks want to cut the risk weights on home loans to revive the housing sector. Indian Banks’ Association committee on housing described that if the risk weights are lowered, there will be more funds for the banks to lend. This move enable banks to give loans up to 85 per [...] Continue Reading »
Bhubaneswar Municipal Corporation (BMC) has decided at a meeting of the BMC corporators to build three footbridges in Bhbaneswar. The bridges would be constructed at Jayadev Vihar, Master Canteen and Rupali Square and each footbridge would reportedly be developed at a cost of Rs 2.5 crore. As per the agreement, the contractor would make profit [...] Continue Reading »
The under-construction buildings which were purchased by buyers in the past six years will not attract any VAT (Value Added Tax). It was told by the legal and tax consultants that residents under Mhada will not have to pay any VAT as Mhada does not enter into any sale agreement with its buyers unlike in private transactions. As per [...] Continue Reading »
Three trees were felled without the permission from the concerned officials in a residential area in Singanallur city, despite the promises made to protect the green cover. It is said that in order to widen the roads, the trees were felled. The contractor was planning to cut more trees, but due to strong resistance from residents [...] Continue Reading »
Jharkhand’s land registration department’s revenue is overflowing with increasing land rates. The government received Rs 171 crore in revenue in 2008-09, and in 2010-2011, the department has crossed 100%. With the coming of big brands and many educational institutions, demand is soaring, said realtors. The department already received Rs 418 crore and achieved 92 per [...] Continue Reading »
The Greater Visakhapatnam Municipal Corporation (GVMC) is planning to develop the city but before that it has to tackle the debt due to government departments defaulting on property tax. Around 30 government wings owe property tax of Rs 4.18 crore to the civic body, with the APTransco leading the defaulters list owing Rs 80.03 lakh [...] Continue Reading »
With the Formula One fever back in action, Noida is all set to get alive with the race. Formula One will get the sleepy township back in action with all the 5-star hotels progressing with uproaring business. The second edition of F1 this time has been organised with the completion of the Yamuna expressway. However, [...] Continue Reading »
Without any basic facilities, Patna citizens are paying property tax to the Patna Municipal Corporation (PMC). Issues like unsafe water, live in unhygienic condition and also delaying the new garbage collection agency’s functioning are still on the list for PMC to solve. The PMC standing committee decided to double the holding tax which includes 2.5% [...] Continue Reading »
Data produced by Bloomberg TV India shows that the price of residential space has skyrocketed by 6% in six months, and the demand of residential space in Bangalore has gone up by 3% and in Gurgaon the hike is as high as 9%. Whereas, in the past six months, demand of residential property in Bangalore [...] Continue Reading »
Odisha’s realty developers has welcomed the decision by the Union government to allow 51 per cent foreign direct investment (FDI) in retail. Developers feel that this move will boost the real estate sector. It is said that this move will not only help the real estate sector, it will also contribute to the state’s economy [...] Continue Reading »
