Other cities
The draconian Urban Land Ceiling (Regulation) Act (ULCRA) was scrapped by the Maharashtra government four years ago, which still continues to be a bitter issue between the state and builders. Though nearly forty notices were issued from past one year by the state urban development department to return the tenements to government, many developers challenged [...] Continue Reading »
Turning down a demand that builders be allowed to get additional floor space index (FSI) by paying premium in redeveloping old Mhada buildings in the city, Chief Minister Prithviraj Chavan said they would have to share housing stock with Mhada in redeveloped buildings. Chavan said that a meeting of local legislators would be held after [...] Continue Reading »
Income tax (I-T) officials from Rajkot, Ahmedabad and Surat, on a key operation, carried out searches at 26 and surveys at 25 premises belonging to three builders in the city on Tuesday. The officials are inspecting the offices and houses at Varachha, Katargam, Nana and Mota Varachha and project sites at Vyara in Tapi district, [...] Continue Reading »
The US Consulate in Chennai is all set to open American Business Corners in Kochi and Thiruvananthapuram to provide further stimulus to the US-Kerala bilateral business relations. The American Business Corners- or ABCs- will be opened in the two cities in September to coincide with the Emerging Kerala Summit. The US consulate will participate in [...] Continue Reading »
Owing to the deteriorating rupee value, expatriates are busy buying properties especially in tier III cities of India like Kozhikode. Many NRIs, especially from Gulf countries, are planning to return back home. With the availability of well-set educational institutes, health care and general quality of life, the city is fast becoming a preferred place for the [...] Continue Reading »
Office sales and rentals have plunged by almost a third in the last two years in Mumbai’s alternative financial district of Lower Parel. The reason is a building boom that took place after various mill land sales 4-5 years ago. In the recent years, Lower Parel witnessed launches of nine major projects, creating office space [...] Continue Reading »
Thane District Consumer Forum has ruled that builders must stand by the conditions laid down by civic authority while granting the occupation certificate (OC), even though if such conditions are not a part of the sale agreement with flat buyers. Recently, a complaint was filed by Sarvottam Co-operative Housing Society against city-based Radhakrishna Developers. According [...] Continue Reading »
Gurgaon’s underground water table has reached a significant low of 51 metres and the state has failed to check on this. The water crisis which Gurgaon faced this summer is only going to get worse. The estimated demand is 200 million gallons per day (MGD), whereas Haryana Urban Development Authority (HUDA) is able to supply [...] Continue Reading »
Assocham study reveals that the real estate industry is attracting substantial investments in seven of the 20 top well-performing states even as the property market is facing slowdown. Almost 50 percent of Haryana’s investment is being done in realty sector since December 2011. The services sector accounted for about 34 per cent of its total [...] Continue Reading »
The Godrej Group’s real estate development arm, Godrej Properties, has announced that it has entered into an agreement to develop approximately 110 acres of land in Panvel. Godrej has entered into a profit sharing joint venture structure for this project where GPL will receive 35 per cent of the profits from the development. The project [...] Continue Reading »
