Cities
As the government denied any financial assistance to the Municipal Corporation of Gurgaon (MCG), the local body, in order to raise its revenue through tax, is to issue house tax assessment notice to villages under its jurisdiction. Around 46,000 people live in 39 villages that come under the MCG’s jurisdiction and half of them has [...] Continue Reading »
Keeping an eye on the hardening inflation, the Reserve Bank of India (RBI) has cut the cash reserve ratio (CRR) by 25 bps. RBI left the key interest rate unchanged and the 0.25% reduction in CRR is done to infuse additional liquidity that will inject Rs 17,500 crore into the financial system. Accordingly, the CRR [...] Continue Reading »
The Corporation of Chennai has asked the government for permission to cut water and power supply for the property tax defaulters. An official said, only 40 % of property owners in the city pay tax for the premises they own. Generally, property tax is paid once every six months, but the corporation allows defaulters to [...] Continue Reading »
NIBM has become a realty hotspot in Pune. As increasing number of families are preferring the locality, many residential and business projects have started in the area. Currently the property price stands at Rs 6000 per sq ft in the area. The main advantage of the area is well connectivity through roads and the presence [...] Continue Reading »
With the Formula One fever back in action, Noida is all set to get alive with the race. Formula One will get the sleepy township back in action with all the 5-star hotels progressing with uproaring business. The second edition of F1 this time has been organised with the completion of the Yamuna expressway. However, [...] Continue Reading »
Realty experts say that Mumbai should focus on sustainable development. According to sources, the sustainable rate in the country is hardly 2.8% when compared to the global standards of about 25%. Since the real estate plays a major role in the development of economy, it is important that sustainable development be adopted on a faster [...] Continue Reading »
With the recent regularisation of 900-odd colonies, the Delhi government’s urban development department moving forward with its new policy to seek land in these colonies. These colonies are sought after to construct amenities like schools, dispensaries, parks, electric transformers, police posts and so on. The regulatory colony will have a layout plan stating the details [...] Continue Reading »
One of the major commercial regions of Delhi-NCR, Gurgaon is witnessing a fast paced development and demand of office space in less than 10,000 sq ft category off late. The city has been witnessing a great demand for office property which has an area of about 1000-5000 sq ft. Also with the increased supply of [...] Continue Reading »
The 4.85 acre plot Madras Race club Guindy has been bidded for Rs 260 crore by Mahindra Lifespaces, part of the Mahindra & Mahindra Group. The land value is Rs 3 crore per ground. The other two bidders were Arihant of Chennai and RMZ from Bangalore. Madras Race Club instructed that international real estate consultants [...] Continue Reading »
One of the largest pension asset managers, APG Asset Management, Abu Dhabi Investment Authority and the Government of Singapore Investment Corp are to invest in Indian real estate market . APG, which manages about 300 billion euro in assets, now plans to work directly with real estate developers, as it looks to establish a stronger [...] Continue Reading »
