Cities
Implementing the Punjab and Haryana High Court order banning the use of groundwater for construction, the Haryana Urban Development Authority (Huda) is all set to take strict action against builders violating the ban. Huda has sent an ultimatum to those builders whose construction work is underway to submit their water source details. Moreover, in an [...] Continue Reading »
Heavy rains in Mumbai seemingly may have brought relief to Mumbaikars as well as to the civic officials. The Brihanmumbai Municipal Authority (BMC) officials are now contemplating if they should still go ahead with cloud seeding project to increase water levels in the lakes around Mumbai, as the heavy downpour last few days have seemingly [...] Continue Reading »
Ravi Saund, COO, CHD Developers Ltd, ha stated that Sohna Road, in Gurgaon, is to become a real estate destination in the Gurgaon area. He states that Sohna Road enjoys an advantage of excellent connectivity with NH8 and has been witnessing a healthy demand, which in near future, will propel it to emerge as a [...] Continue Reading »
Following the the State Bank of India (SBI), Syndicate Bank, Indian Overseas Bank and Union Bank of India, state-run Punjab National Bank has also announced a reduction in its interest rate on housing loans by 25 basis points across the board. Now a potential customer can take a 15-year floating rate loan of Rs. 20 [...] Continue Reading »
State Bank of India (SBI) is witnessing a significant growth in its home loan segment since it cut rates in the beginning of August. Officials of the country’s largest lender revealed that number of home loan applications being received per day has now doubled to 800 from 400. However, the officials stated that since there [...] Continue Reading »
Three days of the 90-day deadline given by the Supreme Court to the Sahara Group to repay over 22 million investors in its bonds have passed and it looks like the only way the Sahara Group can repay its debt is by selling off its assets. The Supreme court had confirmed Securities and Exchange Board [...] Continue Reading »
The Noida Extension home buyers are apprehensive of facing problems like cancellations and unethical demand letters from developers after the construction work has resumed. They conveyed their fear to Confederation of Real Estate Developers Associations of India (CREDAI) in a meeting and sought its intervention on the matter. Following the meeting, CREDAI has issued a [...] Continue Reading »
Despite a demand contraction of about 15 per cent in the commercial real estate sector, there is little chance that rents of commercial sector will go down. Property consultant Jones Lang La Salle states that Indian real estate prices are unlikely to be corrected. The Indian residential property market has witnessed a definite slowdown in [...] Continue Reading »
According to the CEO of international property consultancy Jones Lang LaSalle, Colin Dyer, foreign investors are looking at investing in Indian real estate market on a selective basis. Foreign investors are looking at infusing capital behind successful investment managers and many are keen on directly investing. However, they are cautious as the real estate sector [...] Continue Reading »
The state sales tax department of Maharashtra has insisted that the payable value added tax (VAT) is much less than three per cent. This has put buyers who purchased flats between 2006 and 2010 and had paid money, in a fix as to how to recover the additional amount paid. Till now, there has been [...] Continue Reading »
