Realty News
The Bombay High Court pronounced a split verdict on an appeal with Brihanmumbai Municipal Corporation (BMC). The Civic Body under the jurisdiction of Maharashtra Rent Control Act was empowered reassess properties on the basis of steep market rents payable by individual occupants exempted under the rent law. The battle began when the civic body reassessed [...] Continue Reading »
To pay 20% of total cost of the apartment initially in Purvankara Projects and rest only at the time of possession, the realty developer has come up with a 20/80 deferred payment scheme. The interest cost on the 80% of the value of the apartment till possession will be bear by the company itself. EMIs [...] Continue Reading »
Home loan borrowers are now facing a tough time as there is a slight raise in the EMI (Equated Monthly Installments). Banks have agreed to increase pre-payment charges at the meeting with RBI (Reserve Bank of India). The Central Government is concerned about the home loan burden on the loan borrowers. Henceforth they have put [...] Continue Reading »
Property owners in Pimpri Chinchwad should pay the property tax of first six months of 2011-12 till September 30 to avoid paying fine. Property tax for the remaining six months of 2011-12 should be paid till December 31 to avoid paying fine which will be charged at the rate of 2% per month from January [...] Continue Reading »
Greater Hyderabad Municipal Corporation (GHMC) has posted the names of top 1,000 defaulters on its website. By posting the names of the defaulters on its website the corporation wants to collect at least a part of the arrears. The corporation is making all efforts to collect tax dues from major defaulters. The defaulters , including [...] Continue Reading »
Subodh Kumar’s new Development Control Rules (DCR) proposals will allow developers to build an extra 25% above the sanctioned FSI in a residential project, for which they will be charged 100% premium. For commercial buildings, the BMC will allow 15% additional built-up area and charge a similarly hefty premium. In a joint statement issued exclusively [...] Continue Reading »
Flats owners of Park Place luxury housing project contested the arbitrary change in the housing plan done by DLF and accused the builder of misusing its dominant position as per the contract agreement signed between the flat owners and the builder. After the Competition Commission of India (CCI) order, the flat owners are joyous. “The [...] Continue Reading »
State government had issued the preliminary notification for increasing the guidance value in Bangalore on July 16, giving the public two weeks to file their objections, if any. The notification had suggested a hike ranging from 10% to about 200% depending on the civic amenities and demand for properties in the concerned areas. But the [...] Continue Reading »
During construction of a building, the builder is supposed to get water supply, road and drainage No Objection Certificates (NOCs) from the corporation, stating that these basic amenities have been taken care of while constructing the building. After completion of a project, the builder also has to get an occupancy certificate from the concerned authority [...] Continue Reading »
Allegations of irregularities have poured in about the allotments done by Housing Infrastructure and Development Corporation (Hidco) three months ago. Questions were also raised about the presence of any political aim behind the allotment of so many residential and non residential plots, including those under the chairman’s quota, just a day before the election schedule [...] Continue Reading »
