Realty News
Gurgaon will procure a new ‘signal-free’ road by 2014, developed by IL&FS Engineering and Construction Company. The firm has announced that it has won Rs 394.3 crore contract from India’s largest real estate developer DLF for construction of a road in Haryana. The 8.3 km road, starting from NH-8 to sector 55/56 at Gurgaon, will [...] Continue Reading »
Andhra Pradesh government has increased the development charges imposed on builders for construction of buildings in the extended areas of Hyderabad Metropolitan Development Authority (HMDA) by 50 per cent. On July 12, the municipal administration and urban development (MA&UD) department issued the Government Order (GO). Hereafter, builders will now have to pay 75 per cent [...] Continue Reading »
Knight Frank Research, a property consultancy firm, analyzed residential market comprising projects with a sales potential of above Rs 30 crore in Mumbai Metropolitan Region. Their analysis shows that Mumbai real estate market for high-end homes has stagnated during financial year 2012. Absorption numbers for high-end homes in 2011-12 are estimated to have dropped by [...] Continue Reading »
As per the predictions of research firm, Angel Broking, residential volumes would grow from flat to moderate rate on a sequential basis in the June quarters of 2012. The report states that the demand is weak due to high interest rates and elevated property prices. Although the realty index is low, it is not as [...] Continue Reading »
According to data by provided by brokerages such as Motilal Oswal Securities, Kotak Securities, Edelweiss Securities, Prabhudas Lilladher and Emkay Global, net profit for the real estate companies are expected to fall by 20 per cent, while net sales may rise three per cent in the first quarter of the current financial year. According to [...] Continue Reading »
Corruption has proved to be the main culprit behind slackness of Indian democracy as well as the country’s economy and it is behind the high prices in the realty too. Adarsh scam has hit the headlines and gone, but its repercussions can still be felt in the realty sector. Although the demand for apartments are [...] Continue Reading »
In the wake of rising inflation index, purchasing properties and paying electricity bills are set to become expensive. The electricity bills, especially on commercial establishments, are expecting to rise by around 15 per cent. The DM circle rate is set to witness a rise of 10 per cent to 20 per cent. The new DM [...] Continue Reading »
In a noteworthy step taken up by the Nagpur Municipal Corporation (NMC), a special drive held for two days at all ten zone offices saw settling of 800 pending cases. The property owners’ applications were stuck for over a year even after they had submitted all the required documents. Most of the cases involve issuing [...] Continue Reading »
In a new move, the Nashik Municipal Corporation (NMC) has decided to start linking property tax on newly constructed houses promptly. The tax would be linked as soon as the building completion certificate (BCC) is issued to the developer. The move came across as an effort to increase revenue for the NMC by levying house [...] Continue Reading »
Tata Group, which is currently building a shopping mall in Amritsar, plans to take its Trillium mall brand nationwide in order to outfit in the country’s beneficial modern retail sector. The 700,000 sq ft mall will be ready by the end of this year or by early next year. The company has three more malls [...] Continue Reading »
