Realty News
The Aurangabad unit of the Confederation of Real Estate Developers’ Association of India (Credai) has submitted a memorandum to the collector for stamp duty and valuation by demanding a reduction in the ready reckoner rates that has been announced by the state government on the 1st of January this year. The government had increased the [...] Continue Reading »
The REIT (Real Estate Investment Trusts) norms will be more attractive now and the capital markets regulator SEBI (Securities and Exchange Board of India) has agreed to incorporate the industry suggestions. The minimum asset size will be reduced to Rs 500 crore, and foreign investors at IPO and later stages will be allowed. At the [...] Continue Reading »
RBI (Reserve Bank of India) has decided to cut the statutory liquidity ratio (SLR). This move was welcomed by the real estate developers and property consultants as this would enable the banks to lend more to the industry, including the cash-starved realty sector. However in order to boost the housing sales, the developers demanded easing [...] Continue Reading »
The Supreme Court on Monday said it will hear DLF Ltd.’s petition on August 7. DLF has placed the petition challenging the Rs. 630 crore penalty imposed by the competition commission of India (CCI) of India on the company. The court also mentioned that its July order restraining the anti-trust body from taking any action [...] Continue Reading »
In Kochi, the Joint Action Council of Construction Workers’ Unions have urged the State government of Kerala that all the granite quarries and crusher units in the State should be allowed to open and function normally. This move is set to be taken to ensure the employment of more than two million workers engaged in [...] Continue Reading »
On Tuesday the lid of a multi-crore land scam was blown off. Uttar Pradesh lokayukta, justice (retd) NK Mehrotra was the one who took this step. He wrote to the district magistrates (DMs) of seven districts and he asked for the reports on allotment of land in dubious deals in their areas. A nexus between [...] Continue Reading »
The e-commerce business has boomed manifolds in India in the last few years. This has given a fresh lease of life to hundreds of land owners who bought land to build warehouses a few years back. However they were disappointed after a much touted policy of FDI in multi-brand retail became a non-starter. It looks like [...] Continue Reading »
For the first time, the West Bengal government has prepared a state Urban Development Policy. This was done after they got a nod from the Cabinet Standing Committee on Infrastructure. The state’s Urban Development Minister Firhad Hakim stated that such a policy was a strong requirement to cope with the growing urbanisation. Hakim announced the [...] Continue Reading »
There might be some good news for the illegal homes in the state of Himachal Pradesh. The Select Committee of the Vidhan Sabha has recommended that the buildings raised in violation of the construction norms and having up to 70 % deviation should be regularised. This should be done by charging nominal compounding rates and [...] Continue Reading »
There is some good news for the land owners in Uttar Pradesh. The Uttar Pradesh government today decided to give two times of the circle rate in urban areas and four times compensation in rural areas to the land owners. This will be done in the case of land acquisition. The decision was taken during [...] Continue Reading »
