Cities
The US government has hired property consultancy Knight Frank to carry out a valuation and review of all its real estate properties in India. The properties, valued at thousands of crores, were acquired over the years at low rates and the recent move may indicate possible sale of some assets in the future. The properties [...] Continue Reading »
The Finance Minister has urged the chiefs of government-owned banks to put pressure on real estate developers to lower property prices. This has been done in order to get the economy moving, which has been hit by a slowdown. In a meeting with bank chiefs, Finance Minister, P Chidambaram, asked the bankers to influence builders [...] Continue Reading »
The sub standard rainfall this monsoon has compelled Brihanmumbai Municipal Corporation (BMC) to divert excess water from overflowing Modak Sagar to the Vihar lake to up its stock level. Of the six reservoirs that supply water to Mumbai, two reservoirs, Tulsi and Vihar, are located in the city, while the rest are situated in the [...] Continue Reading »
The federation of sector welfare associations of Chandigarh (FOSWAC), an umbrella body of 60 different resident welfare associations (RWA) have raised concerns regarding negligence of municipal corporation. Concerns were raised in the executive committee meeting for not addressing the common and specific problems of RWA’s seriously by the officials of municipal corporation. The issues included [...] Continue Reading »
Water woes seem never to leave the Noida residents. Amidst the chaos over inflated water bills issued by the Noida Authority, now question has been raised over the poor quality of water being supplied to residents. According to doctors, the water supplied to residents in Noida is essentially hard and prolonged exposure to it can [...] Continue Reading »
The foundation stone for Sorake ‘Green Cliff’ residential apartments by Sorake builders was laid at Airport Road in Padavinangady in Mangalore on 20 August. Dr Rajnesh Sorake of Sorake builders laid the foundation stone while joint venture partners like Elias Sanctis and Prakash Pinto of Paragon builders and developers were present. Green Cliff, a proposed [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) which enforces building bylaws has reportedly turned a violator itself. The new eight-storey building constructed at the civic agency’s headquarters allegedly violates norms made mandatory by the authority. Contrary to bylaw stipulations that buildings over 15 metres tall should have an underground basement and ground floor reserved for parking, [...] Continue Reading »
The state sales tax department has been able to make the builders register with them as the battle for paying VAT seems to swing towards the government. The builders in Nashik have started registering with the sales tax department of the state government. Confederation of Real Estate Developers’ Association (CREDAI) has reportedly decided to pay [...] Continue Reading »
The much-debated Maharashtra Housing (Regulation and Development) Bill has inched towards implementation as it received a verbal consent to the contents of the bill from governor K Sankarnarayanan. Approved by the state legislature in the monsoon session of the assembly, the bill had been sent to the governor’s office for consideration. Based on a representation [...] Continue Reading »
Developers in Maharashtra seem to be apprehensive of the regulatory measures proposed by the state and central government. As the developers already have disclosed their presentiment about the state government’s housing regulatory bill, the presentiment deepens as the centre is now set to introduce its own regulatory authority for the real estate sector. Maharashtra Chamber [...] Continue Reading »
