Cities
Bhubaneswar Municipal Corporation (BMC) has decided at a meeting of the BMC corporators to build three footbridges in Bhbaneswar. The bridges would be constructed at Jayadev Vihar, Master Canteen and Rupali Square and each footbridge would reportedly be developed at a cost of Rs 2.5 crore. As per the agreement, the contractor would make profit [...] Continue Reading »
Within the next two years, Indian Railways is planning to lease land parcels, which is 1,500 hectare (3,700) to earn more than Rs 5,500 crore, according to an official. Around 52 cities where there are surplus land parcels that can be leased out, said an authority. The commercial development of surplus land is undertaken by [...] Continue Reading »
Portman Holdings is planning to raise third party funds to invest in Indian real estate. The fund worth is estimated at $300 million. The company will raise these funds in overseas markets in the first half of 2013. It then plans to deploy the entire corpus in the next 30 months once the fund raising [...] Continue Reading »
Many developers are rolling out special offers ahead of Diwali at the Maharashtra Chamber of Housing Industry’s (MCHI) on-going property exhibition at Mumbai Metropolitan Region Development Authority (MMRDA) grounds. Free parking space, club membership offers, removing stamp duty-registration and maintenance charges are some of the primary offers, while the most lucrative offer continues to be a [...] Continue Reading »
Lodha Developers have completed the acquisition of 17-acre land in Mumbai from realty major DLF for Rs 2,725 crores. In August, DLF had announced sale of the land parcel to Lodha Developers for about Rs 2,700 crore and it has been termed the largest realty deal so far this year. DLF had bought the land [...] Continue Reading »
With the enhancement of fee for encumbrance, marriage certificate and many other services of the registration and stamps department few months ago, the state government is working towards increasing the land value for both agriculture and and non-agriculture land for registration purposes. With the increase in the land value, the property buyers will have to pay [...] Continue Reading »
With the arrival of the festive season, the residential sales across most micro markets in and around Hyderabad are witnessing a great improvement. There are a number of new launches in the city especially in the villa sector. Projects like First Leaf by Pooja Ventures was launched at Tellapur, The Retreat by Rajapushpa Properties and Vasathi [...] Continue Reading »
A newly launched project by Bhartiya City, in Hebbal, Bangalore is set to change the complete lifestyle of people. This project aims to establish a living space which addresses the needs of the family and the society. The project will flourish a lifestyle facilitating a safer environment for children, a convenient play area along with easy access to retail stores. Snehdeep Aggarwal, Chairman, [...] Continue Reading »
The under-construction buildings which were purchased by buyers in the past six years will not attract any VAT (Value Added Tax). It was told by the legal and tax consultants that residents under Mhada will not have to pay any VAT as Mhada does not enter into any sale agreement with its buyers unlike in private transactions. As per [...] Continue Reading »
A bunch of petitions were dismissed by the Bombay High Court as the petitions challenged the state government’s decision to levy the builders with a 5% Value Added Tax (VAT) on buildings which were under construction from 2006 to 2010. This rule was declared a day before the tax payment deadline. Justice Dhananjay Chandrachud and Justice Rajesh [...] Continue Reading »
