Cities
The government is set to enact a new law to constitute a regulatory authority to look after issues relating to real estate sector in order to bring in transparency. According to sources, a new Real Estate (Regulation and Development) Bill, 2012 is on the agenda of the Union Cabinet. The draft bill is likely to [...] Continue Reading »
In a move to help the company hedge against the over-exposure to its core market, Indiabulls Real Estate is to launch seven new projects outside Mumbai in the remaining part of 2012-13. The company is to launch residential as well as office projects in Sonepat, Gurgaon, Indore and Chennai. Including a township in Savroli on [...] Continue Reading »
The property tax department of Pimpri Chinchwad Municipal Corporation (PCMC) has collected Rs 167 crores this financial year. There was a rise of Rs 50 crore in collection compared to the same period last year, Shahji Pawar assistant commissioner and chief of property tax department. Residents will have to pay the property tax of six [...] Continue Reading »
A new realty project will be launched in Mumbai in the partnership of four property developers, Hubtown, Marathon Realty, Terraform Realty and Rajesh Lifespaces. A consortium has been formed called Rare Townships to develop a township titled ‘Rising City’ off eastern Express Highway in Ghatkopar area of Mumbai . The project will have two, two [...] Continue Reading »
The Greater Hyderabad Municipal Corporation (GHMC) is planning to double the tax, so the residential property owners have to pay more tax. According to the authorities, property tax of commercial properties in L B Nagar, Uppal, Malkajgiri and Qutubullapur municipal circles may be cut by 15-20%. GHMC is to raise minimum property tax to 80 [...] Continue Reading »
The plywood industry was badly hit by the slump in the real estate industry. The Indian plywood industry has an annual revenues of Rs 25,000-30,000 crore. The domestic plywood industry, especially the unorganised sector will be in trouble once China starts flooding the market with quality products. However, due to quality issues, imports were minimal [...] Continue Reading »
The progress of major development projects in Maharashtra has been affected due to the differences over the land acquisition bill. Among these projects, most were shortlisted by chief minister Prithviraj Chavan two years ago. The Navi Mumbai airport, the nuclear power plant at Jaitapur, the coastal road and railway expansion projects are among them that [...] Continue Reading »
In a move to help the real estate sector, government is planning to give industry status to the real estate infrastructure sector. This move will help the real estate sector to get access to cheaper finance from banks. The proposal for industry status has already been submitted to the finance ministry for its consideration. Getting [...] Continue Reading »
Political parties and other groups have demanded a revision in power tariffs from Delhi Electricity Regulatory Commission (DERC) pointing that it was only a partial relief to the consumers and the hike in power tariff should be withdrawn. The abolition of the 201-400 units slab and introduction of 0-400 units slab had resulted in significant [...] Continue Reading »
The Mumbai based developer, Godrej Properties has launched its latest project ‘Godrej E-City’ in Electronic City Phase-1, Bangalore. The project is spread across 15 acres and will be launched in three phases wherein the first phase will have 8-5 storey buildings and with 280 homes across 3.6 lakh sq ft. The project will have around 800 apartments spread [...] Continue Reading »
