Cities
A huge sum of about Rs. 1,255 crore has been sanctioned to spend on the road infrastructure/roads and buildings (R&B) sector by the state government. This decision was made under various Central government and state-sponsored schemes and district plans this year. As per the reports, the sum amount allotted for the development and construction comes around Rs 754.11 [...] Continue Reading »
A statement passed by the Municipal Commissioner Sitaram Kunte, last month about the re-development of about 300 proposed heritage structures has created confusion among the civic bodies, i.e. the Mumbai Heritage Conservation Committee (MHCC) and the state government. It was said by the municipal commissioner that the re-development of the projects will continue uninterrupted due [...] Continue Reading »
The first Muslim property show which was held in Ahmedabad, kicked off with great revelry as there were about 20,000 visitors especially from the minority community. Since this event was a hit, the organisers are encouraged to hole another such property show based on the communities in places like Rajkot, Surat, Palampur and others. They believe that [...] Continue Reading »
Thane Municipal Corporation (TMC) commissioner R A Rajeev has offered a 5% property tax reduction to housing societies who reduce their waste by more than 50% and recycle the waste generated in their compounds. More than 700 plus metric tonnes of waste is generated every day and dumped into the private landfills or illegally burnt [...] Continue Reading »
The South Municipal Corporation has found out a new way to ensure that the notice of property tax is delivered to the tax evaders. They have organised a team of officials to serve notice to tax evaders and this process will be recorded in video. In case a property owner approaches the court saying that [...] Continue Reading »
Alpha G Corp, a real estate developer is looking to develop a mixed use city centre in Surat and integrated townships in Ahmedabad, which spreads across more than 100 acres. The firm has successfully completed its one year in mixed use city centre in AlphaOne Ahmedabad which spreads across over 1.2 million square feet. AlphaOne [...] Continue Reading »
A real estate and management web portal, Commonfloor.com has raised second round of fund from existing investors, Accel India and Tiger Global Management, a New York-based investment firm. The amount has not been disclosed by the firm. Firstly, the firm has raised fund from Accel India in 2009.The second round fund raising will be used [...] Continue Reading »
Rupees 38 crore unaccounted money has been seized by the income tax department during raids at the residential and office premises of real estate developers in Surat. According to sources, two real estate groups had disclosed unaccounted income worth Rs 27 crore and another leading realtor has disclosed Rs 11 crore. The search and seizure [...] Continue Reading »
As a result of funding gap, many housing projects have been shut down and as a result, economy has slowed down. The government has directed many banks across the state to unblock values of stalled projects and provide financial dose to turn them viable. National housing bank (NHB) decided to begin the search for the [...] Continue Reading »
DMI Finance is in the process of raising 1,000 crore to invest in the real estate sector. The company was founded by the former Citigroup employees Shivashish Chatterjee and Yuvraj C Singh. The company will target an equity and debt corpus of 500 crore each and it will target over 20% internal rate of return, [...] Continue Reading »
