Cities
The long pending request of Chennai’s commercial property developers to let them use the IT buildings for non-IT purposes like finance, education, hospital, hospitality and retail will very soon be granted. The developers proposal will soon be accepted if the recommendations of the CMDA are approved by the state government.This might be followed by a rule that [...] Continue Reading »
Bangalore’s office real estate is set to reach 100 million square feet by 2016-17. Bangalore’s commercial real estate capacity is going to double in just a span of seven years. Approximately 30 million square feet to the existing stock will translates into an addition of around 300,000 jobs over the next 4 -5 years. Since [...] Continue Reading »
All residential and commercial properties, vacant plots and semi-built have come up into the purview of tax with Punjab government imposing property tax. A 10% early payment rebate will be given for all who pay property tax by June 30 every year, according to the ordinance. It added that heavy penalty will be imposed on [...] Continue Reading »
The real estate sector remains on the top when it comes to unveiling unaccounted income. The operations against realty firms make more than 70 per cent of I-T raid operations in the state. I-T officials say that many realty firms have done good business and have evaded taxes. Sources say that, around 6,000 suspected land [...] Continue Reading »
It is demanded that the Nagpur Municipal Corporation (NMC) should reduce water tax from the people who do not have NMC water connection or else NMC will have to face protest, said ex-corporator and NCP leader, Vedprakash Arya. Currently NMC charges 40% of tax from general tax payers. 15 % of waster tax was being [...] Continue Reading »
The Confederation of Real Estate Developers’ Associations of India (CREDAI) Chennai, has welcomed the government’s approval for multi-level parking in apartments in the city. The developers body say that this decision would relieve parking space pressure in Chennai. The permission has been granted for the same building (stilt+2) and not a separate block, which means [...] Continue Reading »
A recent survey by broking house Karvy shows that old apartments in Mumbai have more resale value and provide better investment opportunities as compared to new properties. The survey included inspection of 65 Mumbai and suburban properties. The higher resale value attributes to redevelopment prospects of the old properties. Also the fact that new projects [...] Continue Reading »
The Karnataka government was rapped by the Karnataka high court for lack of initiatives taken up to tackle the mounting garbage problem. The high court has asked the government to identify five more landfill sites in five directions around Bangalore within two weeks for temporary disposal of garbage as there is no notifications of any [...] Continue Reading »
Malls are witnessing increased footfalls during the festive season. In cities like Ahmedabad and Amritsar the mall developers are eager to cash on the festival spirit of the consumers. In malls like AlphaOne, present in both Ahmedabad and Amritsar,this festive season has brought in very good footfalls and the consumer spending has increased since the [...] Continue Reading »
Sources say that a multi-crore deal between private equity firm IL&FS Investment Managers and real estate developer Logix Group has been called off. The proposed deal was estimated to be about Rs 600 crore. As per the deal, the Logix Group would have sold four office buildings in Noida to IL&FS Investment and the listed [...] Continue Reading »
