Cities
A decision on the draft law to set up a regulator for realty sector with provisions for jail term for the builders who put out misleading advertisements of projects has been deferred by the Union Cabinet. This regulator also made compulsory that all the developers who want to launch projects can only get the approval [...] Continue Reading »
The government is likely to come up with a Real estate Bill, which is pending in the parliament since 2009. The sector is in urgent need of this bill as the industry is known for foul business and less transparency are practiced widely. The real estate sector contributes five to six percent of the country’s [...] Continue Reading »
Good news awaiting for buyers of properties in Navi Mumbai! With the delay in new airport, the rates of properties around Navi Mumbai are going to be further down as per reports. The prices of properties in Navi Mumbai have been on a seesaw the time the airport proposal was announced. However, the buyers can [...] Continue Reading »
Hyderabad- The city will soon witness 100 percent hike in residential property tax. However, the property tax rates for commercial buildings in some of the areas may reduce. In this regard, the Greater Hyderabad Municipal Corporation (GHMC) will invite suggestions and objections from citizens on the new tax rates within seven days. The last revision [...] Continue Reading »
Lucknow- Lucknow Mayor Dinesh Sharma directed the corporation officials to form a committee in order to bring in transparency in the house tax assessment system and applicable interests on them. The decision came in following the complaints lodged by corporators about residents being overcharged and being compelled to pay compound interest during collection of taxes. [...] Continue Reading »
Maharashtra Chief Minister has claimed that there will be a new funding model for all the proposed metro projects in the state. The CM announced it recently in the Legislative Council after the central government turned down the proposal of relaxing the norms used for providing the funds for metro projects. The projects were supposed [...] Continue Reading »
The BMRCL has come up with a metro project, Majestic interchange station, where north-south and east-west corridors of Namma Metro will intersect. The Bangalore metro Rail Corporation Limited (BMRCL) has set a budget of Rs 277 crore for the project. As per plan, there will be two level underground stations, the east-west corridor will be [...] Continue Reading »
Good news for people who are planning to watch IPL match today. The metro train services have been extended from 10 pm to 11:30 pm. The trains will operate at a frequency of 15 minutes. The last train will leave Byappanahalli at 11:10 pm to MG Road and will leave MG Road at 11.30pm to [...] Continue Reading »
With the increasing property deals of high value in the state, it has been forecasted that the stamp duty collection is also going to boost up. As per Inspector General of Registration and Controller of Stamps, revenue generated from stamp duty will be around Rs 2000 crore in the financial year 2012-13. However, the property [...] Continue Reading »
If you own a property near metro line, then you may have to shell out more tax. The growing prices of properties along metro lines are now being targeted by the central government to earn more revenue. The government has initiated a study to encourage Transit Oriented Development (TOD) in Delhi. Now, the Union Urban [...] Continue Reading »
