Realty News
In order to conduct a survey of all properties in the city, officials of civic agencies propose to hire a private agency. Property tax department officials have suggested that a private agency should be hired to prepare the database and find out which house owners are evading tax. It is suggested that a team should [...] Continue Reading »
The Maharashtra government has conceded that the recent raids conducted by state anti-corruption bureau (ACB) at the octroi check posts have resulted in a rise in revenue. Octroi being the highest sources of revenue for the corporation, which adds approximately Rs 4,500 to its fund, is also a source of revenue theft as a large [...] Continue Reading »
Realty giant DLF is all set to sell at least two out of the three non-core businesses as it plans to cut its Rs 23,000 crore debt to about Rs 17,000 crore in the current fiscal. DLF Group Executive Director Rajeev Talwar revealed that the group is all set to sell its luxury hospitality chain [...] Continue Reading »
East Delhi Municipal Corporation (EDMC) is to send property tax notices to over six lakh properties under its authority as it is having a financial crunch. The corporation did not have a database on the number of properties liable to pay taxes in East Delhi, therefore, it turned to power discoms and the data received was shocking. [...] Continue Reading »
Properties in North Delhi Municipal Corporation are to get identity numbers as the corporation incurred huge losses due to the absence of database of the number of properties that are liable to pay taxes. In order to improve the Corporation’s finances, it is mandatory that all properties pay taxes. This year it earned only Rs [...] Continue Reading »
Empee Group, which is currently into the businesses of hospitality, liquor, sugar and power, is preparing to venture into the real estate sector. Initially, the focus would be on residential projects. The company would start two projects on a land bank of around 20 acre. It is planning to set up two residential projects with [...] Continue Reading »
In a recent report, Jones Lang LaSalle India (JLL) suggested that as compared to some major cities like Mumbai, NCR, Bangalore, Pune and Chennai, cities like Ahmedabad and Kolkata have an advantage due to high proximity of affordable housing projects to city center. At 15-20 km Ahmedabad and Kolkata offer the closest proximity to central [...] Continue Reading »
The Hyderabad Metropolitan Development Authority (HMDA), in an attempt to bring in transparency in allotment on lease basis has revamped the system. Till now, the allotment of shops and office blocks in the commercial complexes of Swarna Jayanthi, Maitrivanam was done on first-come-first served basis. Now the Authority has launched an IT-enabled system. The new [...] Continue Reading »
According to a recent Cushman & Wakefield report, the Indian retail real estate market recorded a delay of more than 30 percent of retail mall space against the projected supply for the first two quarters of the year. Approximately, 1 million sq. ft. of expected mall supply was delayed to later part of the year [...] Continue Reading »
It may have become the case that it is cheaper to buy a flat abroad such as in Dubai than at a posh location in Mumbai or in Delhi. The property price deflation in foreign countries since 2009 has given opportunity for Indians to buy houses abroad. Of late, most Indians seem to buy under-construction [...] Continue Reading »
