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With lenders cutting interest rates and other charges for home loan, the National Housing Bank expects a growth of 20% this year from 17% in 2011-12. The environment has become competitive due to lowering of the interest rates and abolition of some of the fees The demand and growth of housing loan has been good [...] Continue Reading »
Real estate developer Casa Grande aims to become a 1,000-crore company by 2016 by developing several properties across the region, according to company officials. The Chennai based developer has reported revenues of Rs 130.09 crore last year and is trying to raise the revenue by Rs 240 crore this financial year. The firm’s Managing Director, [...] Continue Reading »
The plywood industry was badly hit by the slump in the real estate industry. The Indian plywood industry has an annual revenues of Rs 25,000-30,000 crore. The domestic plywood industry, especially the unorganised sector will be in trouble once China starts flooding the market with quality products. However, due to quality issues, imports were minimal [...] Continue Reading »
In a move to help the real estate sector, government is planning to give industry status to the real estate infrastructure sector. This move will help the real estate sector to get access to cheaper finance from banks. The proposal for industry status has already been submitted to the finance ministry for its consideration. Getting [...] Continue Reading »
No road has been constructed in Hadibettu village from past 20 years. After repeated complaints to the authorities, the people out of frustration or resourcefulness, pooled in their own money and built the road. Around 75 families of Uppinakudru finally fulfilled their dream, when a newly-constructed road was inaugurated. The initiative was taken by locals [...] Continue Reading »
A huge protest has been staged outside the Deputy Commissioners ‘ office by the residents of Emmeti village in Kalghatgi taluk opposing the creation of ‘safe zone’ would be for stone crushing units near the village. The villagers stated that the creation of the safe zone hazardous to the health of the people and adversely [...] Continue Reading »
In order to boost demand in the economy, public sector banks have either cut interest rates or waived home loans processing fee in response to Reserve Bank of India’s (RBI) monetary policy and finance minister P Chidambaram initiative to revive growth. Several lenders have cut interest rates for home loans such as Bank of Baroda, Bank [...] Continue Reading »
A huge sum of about Rs. 1,255 crore has been sanctioned to spend on the road infrastructure/roads and buildings (R&B) sector by the state government. This decision was made under various Central government and state-sponsored schemes and district plans this year. As per the reports, the sum amount allotted for the development and construction comes around Rs 754.11 [...] Continue Reading »
Thane Municipal Corporation (TMC) commissioner R A Rajeev has offered a 5% property tax reduction to housing societies who reduce their waste by more than 50% and recycle the waste generated in their compounds. More than 700 plus metric tonnes of waste is generated every day and dumped into the private landfills or illegally burnt [...] Continue Reading »
Rupees 38 crore unaccounted money has been seized by the income tax department during raids at the residential and office premises of real estate developers in Surat. According to sources, two real estate groups had disclosed unaccounted income worth Rs 27 crore and another leading realtor has disclosed Rs 11 crore. The search and seizure [...] Continue Reading »
