Realty News
Civic organizations and corporators want the Pune Municipal Corporation (PMC) to stop the ongoing projects of builders who have not sought completion certificates for the buildings they have completed earlier. Without a completion certificate, the owners will have to pay a fine of 20 % of the total construction cost, fine to regularize illegal constructions [...] Continue Reading »
The new law, Benami Transactions (Prohibition) Bill , 2011, will replace the earlier legislation which was enacted in 1988. In a bid to deal with the menace of black money, the government is likely to consider the possibility of enacting a new law to track benami transactions at the meeting of the union Cabinet. The [...] Continue Reading »
The pricing of properties in Noida Extension was between Rs 15 and 25 lakh for a 2/3-BHK flat since the rates and the unit sizes offered were less than those compared in Gurgaon. The per unit rate begins at Rs 45 lakh for a 2-BHK flat. However, the only way in which the SC judgment [...] Continue Reading »
The Brihanmumbai Electric Supply and Transport (BEST), that supplies power to south Mumbai, on Wednesday proposed to gradually increase the average cost of supply from its existing average tariff of Rs 4.22 per unit to Rs 5.60 per unit by 2015-16. Power tariff for around 10 lakh consumers in the island city of Mumbai-—from Colaba [...] Continue Reading »
The Supreme Court will benefit over 6000 people who had booked the flats in controversial Noida Housing Project. A bench of justices G S Singhvi and A K Ganguly- Supreme Court ruled that all the buyers who had invested in the controversial Noida Housing Project would be entitled to complete refund of money, including interest, [...] Continue Reading »
The district consumer forum orders Nitishree Infrastructure to refund the deposit with 15 per cent annual interest.The forum has also imposed a penalty of Rs 25,000 on the builder for mental harassment and legal costs. Charanjit Lal a native of Amritsar had booked a plot in the project named Shauryapuram launched by Nitishree Infrastructure in [...] Continue Reading »
Enhancement of property tax has been on the cards of the municipal corporation for the past four years after formation of Greater Hyderabad. Since March was the financial year ending for the 2010-11, the municipal corporation has decided to hike property tax from the 2011-12 financial year. Two proposals were sent to the government separately. [...] Continue Reading »
Fearing land sharks, Bangalore citizens want their properties protected. But in their rush to do that, they often fall prey to conmen, adept at fabricating documents, falsifying survey numbers and every other trick in the real estate trade. The issue of khatha is a major problem, particularly for the residents of the new BBMP areas. [...] Continue Reading »
National Housing Bank (NHB) has taken 2007 realty as a benchmark of the Residex pegged at 100. The figures show how Ahmedabad along with five others cities – Mumbai , Delhi, Chennai, Lucknow and Pune – have bucked the trend of falling prices. Residex (residential index) figures for city areas reveal that the road expansion [...] Continue Reading »
The Vile Parle Mumbai police on Wednesday arrested five members of the managing committee of a housing society for cheating and forgery. The police said the members, of the Om Madhusudan Cooperative Housing Society, had used the name of a dead person to get the society registered. On a directive by the metropolitan magistrate’s court, [...] Continue Reading »
