Cities
The Hyderabad Metropolitan Development Authority (HMDA), in an attempt to bring in transparency in allotment on lease basis has revamped the system. Till now, the allotment of shops and office blocks in the commercial complexes of Swarna Jayanthi, Maitrivanam was done on first-come-first served basis. Now the Authority has launched an IT-enabled system. The new [...] Continue Reading »
According to a recent Cushman & Wakefield report, the Indian retail real estate market recorded a delay of more than 30 percent of retail mall space against the projected supply for the first two quarters of the year. Approximately, 1 million sq. ft. of expected mall supply was delayed to later part of the year [...] Continue Reading »
It may have become the case that it is cheaper to buy a flat abroad such as in Dubai than at a posh location in Mumbai or in Delhi. The property price deflation in foreign countries since 2009 has given opportunity for Indians to buy houses abroad. Of late, most Indians seem to buy under-construction [...] Continue Reading »
Mumbai property owners will not only be getting a final property tax bill, but also a special notice reflecting the property’s capital value in September. The area of the building for which property tax being charged, the new tax calculated, the old tax rate, method of the new capital value-based tax are mentioned in the [...] Continue Reading »
The Central Bureau of Investigation (CBI) is likely to close its investigation in two cases related to large scale alleged corruption during the Commonwealth Games, of which, one being the Barapullah flyover case and the other is bailout package given to Emaar MGF for construction of 1,168 flats in the Commonwealth Games Village. Sources from [...] Continue Reading »
Owing to liquidity crisis with its developer, DS Construction, Kundli-Manesar-Palwal Expressway (KMPE) has missed several time limits. Its recent deadline has been set to May 2013 by state governments of Haryana and Delhi after resolving the financial level of the developer. The delay in the project has disappointed many entrepreneurs and realtors who were betting [...] Continue Reading »
Dhar & Hoon Blurb India has won the creative duties for real estate company Business Park Town Planners (BPTP). The agency won the business based on its outlook and vision for the real estate brand, which goes beyond real estate. The size of the business is said to be significantly high. Other agencies involved were [...] Continue Reading »
Though hotel business may have been witnessing a slow growth in the recent years, the InterContinental Hotels group is buoyant about the long-term demand in the country and is planning to develop 47 hotels within next five years. Chris Moloney, chief operating officer, South West Asia, IHG told at the moment the hotel chain is [...] Continue Reading »
With a clear cut approach focusing on the development of social and physical infrastructure, the Jammu & Kashmir Chief Minister, Omar Abdullah, has hinted at revolutionary changes which mean residents of the state may have to pay tax on commercial and residential properties for the first time. Abdullah reportedly told the Planning Commission while briefing [...] Continue Reading »
Kolkata Municipal Corporation (KMC) aims to collect Rs 1800 crore from property tax, as per new assessment reports of KMC’s revenue department. Presently, the KMC collects Rs 530 crore from property tax. To take the massive leap, the KMC is set to introduce online payment of trade license fees and contractors’ dues. Apart from this, [...] Continue Reading »
