Realty News
As the new projects under second phase of Jawaharlal Nehru National Urban Renewal Mission (JNNURM) are being assigned to Greater Hyderabad Municipal Corporation (GHMC), old projects under JNNURM-I worth Rs 800 crore still lie unfinished. The actual deadline given was 2012 but the center gave extra time till 2014. A total of ten projects are [...] Continue Reading »
A land of about 33 guntas out of the total six acres 31 guntas was denotified recently by the Karnataka government which was acquired for the formation of the 8th phase layout at JP Nagar. However, the residents questioned the denotification and recently the State High Court took action by quashing the denotification. Earlier, a [...] Continue Reading »
Haryana Government has finally started the property tax collection process after imposing it ten days back in the state. The property tax will be collected from owners of residential, commercial and institutional buildings across Haryana. If all goes in a correct manner, then the financial commissioner principal secretary (FCPS) informed that demand notices of property [...] Continue Reading »
According to a recent amendment, now in case of a divorce, a woman gets to keep a share of immovable residential property rather than all immovable properties owned by the husband. Due to which, a woman can acquire only the residential immovable properties of her spouse. The main motto is that in case of a [...] Continue Reading »
After the recent High Court’s order, BBMP has plans of amending the betterment charge to a reasonable one. The betterment charge was first used for those sites getting converted from agricultural purposes to non-agricultural purposes after approval from the deputy commissioner. The Taxation and Finance (T&F) of the civic body has decide to modify a [...] Continue Reading »
Have a property tax query or don’t know what is capital value based property tax system? Then not to worry because Brihanmumbai Municipal Corporation (BMC) has come up with an initiative to solve the queries. The civic body has come up with an email address at which if you send a mail along with your property identification [...] Continue Reading »
In the first two quarters of 2012, Mumbai, India’s financial capital has been witnessing a downward trend in property sales’ front. Even purchase and buying activity is not going good either. From January- May 2012, experts have said that people are looking for a more subtle way like fixed monthly lease rent than buying a [...] Continue Reading »
About ten new township projects have been launched by Sahara India in Tier-2 and 3 cities in the country. These projects cover around 900 acres out of its 27000 acres spread across the country. The group has also launched an affordable housing project in the name of Sahara Swapna City which will be built in [...] Continue Reading »
Real estate index has been on a rise in three main cities of Southern India- Hyderabad, Bangalore and Chennai. Around 45% of commercial office spaces and 56% of mall spaces will be contributed by these main cities of South India between 2012-16. Also, in the residential sector, the cities accounted for one-third of the country’s [...] Continue Reading »
ICICI Prudential PMS Real Estate Portfolio has successfully exited its investment from ‘KUL Ecoloch‘ recently. ‘KUL Ecoloch’ is a township project constructed by River View Properties Pvt. Ltd. which is a branch of Kumar Urban Development Limited in Pune. The real estate front had invested Rs 47.5 Cr from which they gained a revenue profit [...] Continue Reading »
