Cities
According to data by provided by brokerages such as Motilal Oswal Securities, Kotak Securities, Edelweiss Securities, Prabhudas Lilladher and Emkay Global, net profit for the real estate companies are expected to fall by 20 per cent, while net sales may rise three per cent in the first quarter of the current financial year. According to [...] Continue Reading »
Corruption has proved to be the main culprit behind slackness of Indian democracy as well as the country’s economy and it is behind the high prices in the realty too. Adarsh scam has hit the headlines and gone, but its repercussions can still be felt in the realty sector. Although the demand for apartments are [...] Continue Reading »
In Mumbai, a city of ever increasing population, recent emphasis is put on redevelopment. Especially in areas like Andheri, where old buildings are in almost dilapidated condition, the government has encouraged redevelopment of these buildings which has attracted big developers to come forward. Experts support the initiative as they are of the opinion that redevelopment [...] Continue Reading »
In the wake of rising inflation index, purchasing properties and paying electricity bills are set to become expensive. The electricity bills, especially on commercial establishments, are expecting to rise by around 15 per cent. The DM circle rate is set to witness a rise of 10 per cent to 20 per cent. The new DM [...] Continue Reading »
In a noteworthy step taken up by the Nagpur Municipal Corporation (NMC), a special drive held for two days at all ten zone offices saw settling of 800 pending cases. The property owners’ applications were stuck for over a year even after they had submitted all the required documents. Most of the cases involve issuing [...] Continue Reading »
Yet another story of lack of political consensus coming in way of urban reform surfaces in Punjab when BJP opposes the imposition of property tax in Punjab as drafted by its political ally SAD. Punjab is aiming to generate more revenue to help out the fund starved finance department. As a consequence of BJP’s opposition, [...] Continue Reading »
In a new move, the Nashik Municipal Corporation (NMC) has decided to start linking property tax on newly constructed houses promptly. The tax would be linked as soon as the building completion certificate (BCC) is issued to the developer. The move came across as an effort to increase revenue for the NMC by levying house [...] Continue Reading »
Germany-based global hospitality major Worldhotels is planning to expand its business in India. The company had announced its tie-up with Hyderabad-based Golkonda Hotels by planning to run 20 properties by the end of next year. Currently the firm runs 12 properties including Asiana Hotel in Chennai, The Claridges in Delhi, Pride Park Premier in Gurgaon, [...] Continue Reading »
Tata Group, which is currently building a shopping mall in Amritsar, plans to take its Trillium mall brand nationwide in order to outfit in the country’s beneficial modern retail sector. The 700,000 sq ft mall will be ready by the end of this year or by early next year. The company has three more malls [...] Continue Reading »
The Kolkata Municipal Corporation (KMC) is set to introduce a new system for property tax payment which is believed to ease out the method of tax-paying and generate more revenue to the government. The new method denies visits of corporation inspectors as they are presently doing. The tax-payers will have to make a self-assessment of [...] Continue Reading »
