Cities
The new property tax policy of the state government of Punjab has not gone down well with the citizens of Ludhiana. The property tax rates fixed at 1 per cent for residential, 1.5 per cent for institutional, 2 per cent for industrial and 4 per cent for commercial property are being considered very high by [...] Continue Reading »
In order to earn additional revenue of about Rs 1000 crores, Punjab Cabinet has decided to impose property tax on vacant lands among various other measures. Along with built up buildings, vacant plots and semi-built up units have also been brought under the purview of the proposed tax. All vacant plots would attract 25 per [...] Continue Reading »
As per new initiatives taken by Briahmumbai Municipal Corporation(BMC), the citizens of Mumbai will have a greater say in resolving civic issues at ward level. BMC officers have been asked to attend meetings conducted by the advanced locality management (ALM) and local area citizens committee (LACC). BMC commissioner Sitaram Kunte has come up with the [...] Continue Reading »
Haryana Urban Development Authority (Huda) is set to enhance its sewage treatment capacity from 118 mld to 338 mld (million litres per day) by the end of next year. Huda sources state that two additional sewage treatment plants (STPs) would be ready for operation by September 2013. The estimated cost of the two sewage treatment [...] Continue Reading »
Around 100,000 home buyers in Noida Extension, stuck in a land controversy since May 2011 can expect a faster delivery of their units as National Capital Region Planning Board (NCRPB) has approved the draft Master Plan 2021 of Greater Noida Authority. Around 30 projects had been stuck in the area. NCRPB has sent its letter [...] Continue Reading »
Despite a slowdown in the real estate sector, Mumbai – based Lakshachandi Realty has stated that it expects a 25 per cent increase in revenue in the current fiscal. The company identifies their success is due to timely execution of its projects. The realty firm had earned revenues of Rs 250 crore in the last [...] Continue Reading »
Jones Lang LaSalle, world’s second-largest property consultant, predicts growth in India’s property market is expected to fall to less than 5 per cent over the next 12 months. In an interview with Reuters, president and global chief executive officer of JLL stated that the market looks grim compared with an annual growth rate of 17 [...] Continue Reading »
As per records, Morgan Stanley, the US-based investment bank, is in the process to buy real estate firm DLF’s wind power business. It shows the bank’s heightened private equity interest in renewable assets. Morgan Stanley is keen on buying DLF’s business to consolidate wind power assets in India. DLF’s wind power business was put on [...] Continue Reading »
The country’s largest real estate firm DLF has decided to end its five-year long association with the Indian Premier League (IPL). The title sponsor of IPL did not renew its contract that was due by last month. DLF sources said that the company will promote other sports and is currently exploring various such platforms for [...] Continue Reading »
Manesar, the industrial hub in Haryana that houses several automobile factories has a huge demand for residential units. However, there is very less number of houses which are ready to shift into right away. There is a shortage of houses and the recent unrest at the Maruti Manesar factory has made the situation worse. Residential [...] Continue Reading »
