Realty News
The nerve center of Chennai, Anna Salai has the maximum number of high-value property tax evaders. Most of the properties in the city corporation fall into the tax defaulters list. About 50 properties of Anna Salai fall under the top 50 tax arrears list and the tax arrears of each of these properties range between [...] Continue Reading »
From October 4, the state government will provide a new facility which will allow Mumbai residents to register their property documents virtually from 7 am to 9pm. Currently, the property registration takes place between 10am and 5pm. The two new offices set up at Adarsh Nagar in Worli will be inaugurated by Revenue minister, Balasaheb [...] Continue Reading »
The State Bank of India (SBI) is planning to showcase ‘lower equated monthly installment savings investment proposition’ to their existing customers as well as prospective customers including home loan customers of other banks and housing finance companies. The bank has lowered the equated monthly installments (EMIs) on home loans by about Rs. 15-19 across the [...] Continue Reading »
Builders’ Association of India (BAI) has expressed concerns over issues of land acquisition, environmental clearance and labour laws, affecting real estate industry. Delay in land acquisition and environmental clearances are taking a toll on construction projects and acting as the main protagonist behind escalating their prices. 700 builders from 265 branches of BAI from across [...] Continue Reading »
Around 20,000 property owners from the South Delhi colonies like Green Park, Lajpat Nagar and Hauz Khas are to face criminal charges for not paying the property tax. About 1000 notices were sent to property owners by the property tax department of South Delhi Corporation. Around 30,000 properties in three of the four zones of [...] Continue Reading »
Since the property registration process went online in July, people visiting the sub-registrar office at Chembur (East) are facing delays to get their documents registered. An average of 50 registrations used to take place at the office before the process went online. Lately, the number of registrations that take place is 30 or it is [...] Continue Reading »
The Maharashtra Housing Department has offered a major relief to flat buyers and society residents. The state government has said that there is no need for a no-objection certificate (NOC) from the developer for sale or transfer of flat (resale) in a fully constructed building. The clarification has come after allegations of developers illegally collecting [...] Continue Reading »
Prices of mid-segment properties have risen as investors are beginning to shun luxury segment due to poor returns and are now seeking to invest in lower-priced properties. Real estate agents, on their part, are now pitching mid-income homes which are priced at Rs 40-70 lakh to the investors who were earlier investing in luxury homes. [...] Continue Reading »
Located between Old Gurgaon and Manesar, New Gurgaon has witnessed a large amount of supply of housing units. New Gurgaon comprises of the newly carved sectors of the Haryana Urban Development Authority (HUDA) and several well known developers have announced their projects in the area, triggering property rates to shoot up by 6 per cent. While [...] Continue Reading »
Mumbai-based real estate major Godrej Properties Ltd (GPL) will raise Rs 200 crore by issuing commercial paper. It will allow the firm to raise money from a broad set of investors at attractive rates, largely for working capital requirements. GPL sources state that commercial paper provides for better rates with a wider set of investors [...] Continue Reading »
