Cities
A Memorandum of Understanding (MoU) has been signed between Bihar government and the State Bank of India to provide home loan to state government employees at cheaper rates. As per the MoU, the government being the guarantor would deduct the EMI from the loan beneficiary’s salary if he/she is in default on the loan. This [...] Continue Reading »
DLF has been downgraded by Citi from “buy” to “neutral” as target price has come down from Rs 266 to Rs 218. Currently, DLF shares have come down by 1.3 per cent to Rs 186.20. Citi group has added that there will be a wait for a pick-up in execution, sales and margins to become [...] Continue Reading »
To decrease the burden of tax on housing properties, Assam Real Estate and Infrastructure Developers’ Association (AREIDA) has suggested the state government to combine the tax into a whole of 10 per cent which includes VAT, service tax, stamp duty, registration, labour cess and NOC fees. The state is already witnessing a hike in property [...] Continue Reading »
Nagpur Municipal Corporation (NMC) has decided to settle all the pending cases of property mutation of last ten years by organizing a special camp. As of now, there has been many complaints received for property mutation and no action has been taken. Additional deputy municipal commissioner has stated that special camps will be set at all [...] Continue Reading »
A resolution has been passed by the Chennai Corporation recently, which talks about constitution of a committee for assessment of property tax in the city. Now, the Additional Commissioner (Revenue and Finance) of the Corporation has been given power to assess property over 50001 sq ft in both residential and non- residential domain. Additional revenue [...] Continue Reading »
As against other metro cties, Bangalore still offers good options in real estate sector for property buyers. The real estate sector in Bangalore has now become an end-user market rather than age old investor- led buying. As per reports, average ongoing rates of premium properties in Bangalore is about Rs 4,000 to Rs 5,000 per [...] Continue Reading »
A new committee has been formed by the government to examine whether the home ministry’s resident ID card (RIC) scheme can be used to deliver financial services, rural employment, public distribution system and health insurance. For the public distribution and direct cash transfers, the government has planned to use the Aadhaar platform of the Unique [...] Continue Reading »
The fifth phase of Godrej Garden City (GGC) township is coming up in Ahmedabad by Godrej Properties Ltd (GPL), the real estate branch of Godrej group. It will be spread across 1.8 million sq ft of land having 1,200 to 1,500 units and planning of the sub phases of the project is still on as [...] Continue Reading »
As monsoon is on its way for many parts of India, it looks like GHMC Hyderabad is not bothered to get prepared to face the monsoon. There are still many places in the city where desiltation of the nalas is only half done and the civic body’s disaster management cell do not have enough manpower [...] Continue Reading »
India has witnessed a rise in number of NRIs investing on properties. The dollar appreciation has given a further push to demand from NRI’s for investment in residential properties. With the real estate becoming cheaper for NRIs, many seek to invest in residential properties in two-tier cities such as Pune, notes Om Ahuja, CEO – [...] Continue Reading »
