Realty News
After the hike in interest rate by the Reserve Bank of India (RBI) in the recent past, there is a high probability of corporate India getting hit on profits. Hike in interest rate will hurt Earnings Per Share (EPS). According to a report published by Goldman Sachs, under a scenario based on higher crude oil [...] Continue Reading »
The Town and Country Planning Organisation under the urban development ministry lay down standards for design and construction of buildings. These ‘model building bye-laws‘ serve as a guide for states and urban municipal authorities to adopt in their respective local regulations for new construction. “You can go underground or over-ground (with multi-storeyed parking lots), but [...] Continue Reading »
The Mumbai Tenant associations decried proposed Model Residential Tenancy Act 2011 and claim that the move does not allow for Mumbai’s unique rental system and might leave lakhs of Mumbaikars homeless. Tenant associations claim that the new law would spell disaster for Mumbai, where thousands of old properties are still rented out under the long-standing [...] Continue Reading »
The Centre is of the opinion that the current legal system has discouraged landlords from reinvesting in their properties as rentals have been kept artificially low. The Model Residential Tenancy Act, 2011 prepared by the housing ministry is intended to replace archaic rent control legislations that capped rentals, resulting in landlords getting a pittance for [...] Continue Reading »
Chennai City is witnessing a change in the concept of development of large-scale projects with the entry of big developers from outside the city planning integrated townships here. Old Mahabalipuram Road (OMR) has attracted most of the real estate development in Chennai in the last 3 years after being declared as the Chennai IT Corridor. [...] Continue Reading »
First there was the Mayur Vihar extension. Then we heard about Raj Nagar extension. And now it’s Greater Noida’s turn to do some stretching. Noida Extension is technically Greater Noida’s Sector 1 close to Noida Sector 121 and 119. Several builders have been allotted land here for constructing residential units both high- and low-rise [...] Continue Reading »
If the flat owners and occupants will not pay the fee, it will be impossible for the RWA or Apartment Owners Association to carry on with welfare activities and services. The owners or occupants of a flat are bound to pay the membership fee to the Residents Welfare Association (RWA) of the colony to fund [...] Continue Reading »
The Pune Municipal Corporation’s (PMC) general body approved proposal to impose a fine to regularize constructions as per the Maharashtra Regional and Town Planning (MRTP) Act, 1966. The PMC Pune has approved to impose a fine according to the total construction cost of the building. According to the approved proposal, to regularize one illegal residential [...] Continue Reading »
India’s top listed real estate developer DLF Group has said it will increase prices of its properties in selective locations to minimize the impact of rising input costs. The company, however, did not share details such as by how much the prices will be hiked, on which projects and from when the increase will take [...] Continue Reading »
New Delhi-based realty major Emaar MGF to sell its under-construction 550-flat residential complex Emaar MGF Palm Drive, one of the popular residential developments in Gurgaon neighborhood of Delhi-NCR, for Rs 1200 crore. Emaar MGF is learnt to be in an advanced stage of selling its apartment in a bulk deal for Rs 1200 crore to [...] Continue Reading »
