Realty News
Chairman of leading real estate player Sobha Developers Limited, Ravi Menon, has been honoured with the prestigious ‘EY Entrepreneur of the Year Award 2013′ in energy, real estate and infrastructure category, making him one of the youngest recipients of this award. Menon was recognised, from over a total of 350 nominations, for creating world class assets working [...] Continue Reading »
Although, the state government has tightened policy for conversion of cultivable agricultural land for residential, industrial and infrastructural purposes, such lands are still used for non-agricultural needs. Powerful real estate groups have been turning cultivable areas into residential plots ‘without obtaining permissions legally’, as declared by the farmers. District collectors have to personally visit the land [...] Continue Reading »
With the passing of the Telangana Bill, the political scenario is likely to stabilize and real estate players expect a rise in land and property sales in the next six months. The AP Real Estate Developers’ Association foresees an increase in property and land sales in Greater Hyderabad limits soon after the general election. With [...] Continue Reading »
Indian Railways has come up with a new plan to generate revenues. Next financial year, the agency employing the largest number of people in Asia, plans to generate about Rs 5,000 crore by monetizing its land reserves. This Rail Land Development Authority (RLDA) led initiative involves five projects across the country. So far, in this financial year, RLDA [...] Continue Reading »
J Jayalalithaa, the Chief Minister of Tamil Nadu inaugurated a 400-bed Multi Super, Rs 141.14 crore, Speciality Hospital in the compound which was the erstwhile secretariat complex constructed by the previous DMK regime. The sprawling building had been built in an area of over 10 lakh sq.ft by the previous M Karunanidhi-led DMK government at the Omandurar Government Estate in [...] Continue Reading »
Seeing hope regarding the revival of economy after Lok Sabha elections, both foreign and domestic private equity players are now returning back to invest in Indian real estate sector, but with caution. As per the industry experts, they plan to focus on top six-seven cities. During the last year as many as 393 PE deals [...] Continue Reading »
A top official of realty firm Mahindra Lifespaces said, the housing sector is experiencing a slow growth due to a host of factors such as non-availability of single-window clearance and unnecessary delay in projects in Nagpur. Managing Director of Mahindra Lifespaces Anita Arjundas told PTI: That the housing sector expects single window clearance, which is clearance within 90 days. But [...] Continue Reading »
Bangaloreans always had a fascination for BDA sites due to two reasons: They are cheap and they come with clear titles free from litigation. But those are now things of the past. RTI activist BM Shivakumar, who has waged many a legal battle against the BDA, said “Gone are the days when people treated BDA sites [...] Continue Reading »
There has been a loss of Rs 104.40 crore to the government by The Karnataka Industrial Areas Development Board (KIADB), the Karnataka government undertaking that acquires land and allots to industries, due to allotting developed industrial plots at subsidized rates to three companies in 2012- 13. The KIADB allotted fully developed plots at Narasapura Industrial [...] Continue Reading »
The government is taking a move that could open up funds flow into the financially stressed sector by proposing relaxation of norms for foreign investment in construction. 100 per cent foreign direct investment is allowed through the automatic route in development of townships, housing and built-up infrastructure, subject to stringent conditions, under current rules. A company owned and controlled by an [...] Continue Reading »
