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Three realtors of Surat have been caught with Rs 18.50 crore as undisclosed income to the income tax (I-T) department on Thursday. I-T officials had conducted a search and survey operation under the Income Tax Act, 1961 on few realtors in Varachha and Mota Varachha areas in Surat on Tuesday. About 45 places in the [...] Continue Reading »
As a responsive measure to the depletion of groundwater at a great speed, the apex body for real estate Confederation of Real Estate Developers’ Associations of India (CREDAI) has decided to adopt rain water harvesting as corporate social responsibility (CSR) this year. The announcement comes two days following the Punjab and Haryana High Court directed [...] Continue Reading »
DLF, the country’s biggest real estate company, is set to sell its 17-acre National Textile Corporation (NTC) land in Mumbai to Mumbai-based Lodha Developers to reduce its rising debt, said market sources. The deal is estimated at Rs 2,500-2,700 crore. Lodha Developers has already paid Rs 500 crore in advance and it would pay the [...] Continue Reading »
The cement prices as of now are higher compared to previous year. However, it is likely to come down as per prediction. Slow arrival of monsoon along with supply-side constraint in Chhattisgarh due to plants of UltraTech, Ambuja Cements and Lafarge India – being shut down by the Chhattisgarh environment conservation board (CECB) as the [...] Continue Reading »
The ambitious project taken up by the Margao Municipal Council (MMC) seeking the door-to-door collection of garbage, now seems to be in disorder with the project mostly failing to elicit assistance from the city residents. As being admitted by the civic body itself, sanitary workers have to face hostile conduct from many households and also [...] Continue Reading »
Nagpur Municipal Corporation (NMC) continues their crusade against garbage dumping in public places. In a recent drive staffers of Cream Corner, Ramdaspeth, Central Bazaar road were caught by the squads of health department throwing garbage on the road and were slapped a fine of Rs 10,000. Apart from Cream Corner, action was also taken against [...] Continue Reading »
The Maharashtra Housing Bill 2012 has finally been passed by both Houses of the Maharashtra legislature, which sets the stage for the development of the country’s first housing regulator and appellate board with substantial powers to protect the consumer and penalize the builders in case of any offense. The Bill has laid down the rules [...] Continue Reading »
The CBI on July 16 told the CBI court that a part of the missing Rs 300 crore in the Vanpic port project deal was invested in YS Jaganmohan Reddy’s firms. Ras Al Khaimah (RAK) government which had entered into a deal with state government to construct Vanpic project gave Rs 450 crore for land [...] Continue Reading »
Even though the real estate sector has not been doing very well, the Andhra Pradesh government is planning to revise the market values of agricultural and urban lands from August 1. The move is taken to increase the revenue to the department of Registration and Stamps by raising the registration fee and stamp duty, which will [...] Continue Reading »
Semi-private corporate rooms are built at the Unity Health Complex (UHC) in Mangalore. The chairman of New Mangalore Port Trust (NMPT), Dr P Tamilvanan, inaugurated the corporate rooms on July 17. The rooms are mainly designed for people of lower socio-economic status, with a patient-friendly nursing counter and various other facilities. Unity hospital is known for [...] Continue Reading »
