Cities
As real estate in Bangalore soaring to new heights, developers are being accused of unfair practices by flat owners’ associations in various situations. Complaints range from corpus fund being siphoned off to being denied free access to common facilities like swimming pool or gym as have been promised to the buyers prior to completion. Many [...] Continue Reading »
Tata Realty and Infrastructure Ltd (TRIL) proposes to invest over Rs 1700 crore in two to three years for various projects in the country. TRIL is a 100 percent subsidiary of Tata Sons Ltd. Their future investment includes Rs 550 crore in Kochi for a premium waterfront residential property, ‘Tritvam‘, at Marine Drive. According to [...] Continue Reading »
In order to address issues plaguing the real estate sector, Finance Minister P Chidambaram on Saturday asked help from Indian bankers. He has asked Indian Bankers Association (IBA) to form a committee to advise the government on tackling the slowdown in the housing demand. He stated that various issues facing the real estate sector need [...] Continue Reading »
The past few years have seen buoyant for the real estate sector in Pune. The pace of development has pushed many areas to saturation point, while new destinations have emerged. Talegaon is proving to be one of the good residential property investment destination, especially by investors from Mumbai. While the local demand is for 1 [...] Continue Reading »
In the wake of the High Court ban on groundwater for construction purposes, real estate developers in Gurgaon heavily criticized the Haryana government for failing to provide adequate water. They have alleged that despite charging them crores of rupees in the form of external development charges (EDC), water supply has not been taken care of. [...] Continue Reading »
West Bengal Urban Development Ministry announced that the State Government was planning to construct 33,000 houses for the economically weaker sections. The Urban Development Minister inaugurated Home Front 2012 – a real estate expo, organised by the Confederation of Real Estate Developers’ Association of India (Credai) and the announcement was made on the occasion. According [...] Continue Reading »
Prime Minister Manmohan Singh has announced the launch of a home loans scheme – Rajiv Housing Loan Scheme. It will provide interest subsidy on home loans of less than 5 lakh. The new housing loans scheme is aimed at the urban poor of the country. The new scheme was announced on Independence Day. The PM [...] Continue Reading »
Housing Development Finance Corporation (HDFC) has sought to revive the market for fixed rate home loans. HDFC has decided to launch a new product where interest rates are fixed for 10 years. Under the new scheme, rates would be 125 basis points lower than HDFC’s existing fixed rate loans. The new scheme is called “Trufixed [...] Continue Reading »
In order to tighten its grip over errant contractors, the Brihanmumbai Municipal Corporation (BMC) has decided to double the fine imposed on them if they fail to fill potholes in the stipulated time limit of 48 hours. Moreover, the civic body has also announced that five complaints against a contractor will lead to termination of [...] Continue Reading »
BBMP recently passed a resolution to include Electronics City (E-city) under its jurisdiction. However, on the other hand, state cabinet is already contemplating giving industrial township status to the area. State government has to approve the resolution passed by BBMP, for it to be effective. If approved,industries and commercial areas that are notified as part [...] Continue Reading »
