Realty News
India’s largest real estate company, DLF steps up the disposal of non-core assets to pay down debt of almost $5 billion. It will sell its shareholding in two IT SEZs in Pune and Noida, for a combined value of Rs1300 crore. The transactions have not yet closed. Two partners, Ackruti City and The 3C Company, [...] Continue Reading »
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank (NHB). As demand came back with gradual economic recovery in India, realtors, some of whom were facing severe debt problems, started raising [...] Continue Reading »
The Municipal Corporation Gurgaon (MCG) has decided to issue receipts to private builders in areas where there are no sewerage connections and where the tankers collect the wastes from septic tanks. The worst-affected colonies are those on the Golf Course Road and Sohna Road which are yet to be connected to the main sewer line. [...] Continue Reading »
The builder lobby which has till date cocked a snook at the Civic Body’s attempts to stop malpractices in the real estate sector, will now have a tough law to deal with. Monsoon session may see a policy that imposes stricter punishment on builders who quote built-up area prices, developers are not amused. This monsoon [...] Continue Reading »
PropEquity, an online data and analytics search platform, has conducted an extensive study of the construction delays in real estate projects and the impact on the industry. Data points covering over 10,000 projects being executed by over 1,500 developers across 11 cities in prime residential locations have been studied to arrive at the trends contained [...] Continue Reading »
Lost a portion of property in the road-widening exercise, get ready to pay tax for the entire property you once owned. The Greater Hyderabad Municipal Corporation (GHMC) is busy serving notices on owners to pay up property tax for structures that have vanished in the road-widening exercise. Generally, the tax wing has to revise tax [...] Continue Reading »
By August, the State Information Commission (SIC) plans to introduce the option for applicants to check the status of their RTI application through SMS and through the SIC website. Pointing out that this would spare applicants the effort of making a visit to the commission in person to enquire about the status, Sripathi added that [...] Continue Reading »
Haryana government had said a proper notification would be published for guidelines for private developers to follow while issuing advertisements. Even a month after the Haryana government announced guidelines it is yet to issue a public notice. The public notice would be published so that the common man has access to contact details of officials [...] Continue Reading »
Municipal Corporation of Delhi (MCD) on Thursday demolished illegal portions of 29 properties in south Delhi. Continuing its drive against encroachment, 29 properties were razed in localities such as Satyaniketan, Malviya Nagar, Chhatarpur Extension, Chhatarpur Enclave and other areas of under its jurisdiction. After demolition, a report of these properties was sent to the discoms [...] Continue Reading »
The Supreme Court on Monday turned down the plea of the Greater Noida Industrial Development Authority and builders, including Supertech and Amrapalli, to stay the May 12 Allahabad high court order that quashed the authority’s notification, acquiring 156.3 hectares land in the village. The authority bought the land from farmers at a cheap price for [...] Continue Reading »
