Cities
Amravati Municipal Corporation (AMC) held its general body meeting in which key decisions were taken regarding industrial incentives and Below Poverty Line (BPL) facilities. AMC is planning to give concession on local body tax (LBT) and house tax to the industries in the Maharashtra Industrial Development Corporation (MIDC). In the general body meeting, decision has [...] Continue Reading »
Senior citizens and retired employees of Allahabad organised a meeting at Chandra Shekhar Azad Park in which they raised concern over hike in house tax. United Forum of Pensioners Association, expressing the views of retired employees have urged the municipal commissioner, mayor, district magistrate to take measures to reduce the proposed hike. The state government [...] Continue Reading »
The real estate firms are revisiting strategies for development in India’s smaller cities. Various firms have been pursuing varied strategies on the backdrop of a realty slowdown. Some large developers are sticking to bigger cities while discontinuing project plans in smaller towns. Some firms are switching from premium to affordable homes to generate sales and [...] Continue Reading »
Gurgaon has emerged as the top real estate destination in the country. A large number of Fortune 500 companies have their offices in Gurgaon, making it a financial, outsourcing and commercial hub of India. The exponential growth in its commercial and industrial profile has led to an ever increasing demand for housing sector in Gurgaon [...] Continue Reading »
The Revenue Department has declared that it is going to introduce changes in the accounting standards for the real estate sector to bring about uniformity in reporting of financial results. The Central Board of Direct Taxes (CBDT) has stated that the report of the CBDT appointed committee on accounting standard for the real estate sector [...] Continue Reading »
Gujarat Institute of Housing & Estate Developers (GIHED) have predicted that housing projects in Gujarat may become costlier by 10-15 per cent if rising input costs of material and labour are unchecked. GIHED sought government’s intervention to check the spiraling prices of cement, which they say have risen by Rs 70-85 per bag of 50 [...] Continue Reading »
Land rates in Bihar continues to soar. However, the volume of revenue collected by the registration department from sale of land and apartments has registered a 50 per cent growth compared to corresponding period last year. According to the statistics of the registration department, the state has earned Rs. 653.51 crore as revenue from the [...] Continue Reading »
The confusion over VAT payable by the builders and buyers in Maharashtra is being handled carefully by the state government and builders alike. The Maharashtra Chamber of Housing Industry (MCHI)-Confederation of Real Estate Developers’ Associations of India (CREDAI) has set up a four-member committee to look for the best option for developers to compute Value [...] Continue Reading »
Telenor Group has approached Delhi High Court seeking that its Joint Venture partner Unitech Ltd be asked to set aside Rs 6,400 crore, or be directed to provide guarantees for the amount through a deposit. The Norwegian company moved the court as it fears the real estate company may not be able to pay the [...] Continue Reading »
The Gurgaon builder community has accused the Haryana government of misinterpreting the Punjab and Haryana High Court order of July 31 about sealing of borewells at construction sites and randomly sealing their projects instead. The battle surrounding ground water uses continues as during a resumed hearing on petitions filed by Sunil Singh and Qutab Enclave [...] Continue Reading »
