Realty News
Since sellers don’t perceive a market for TDR Real estate,developers are able to buy TDRs at throwaway sums. Developers buy certificates issued in B or C zones (the secondary and peripheral parts of the city), and utilize them in projects in the centre of the city (part of the A zone) where land valuations are [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) likely to adopt Bihar housing policy, a housing policy initiated by Nitish Kumar’s government in Bihar. Under the new policy, the civic body just notifies the detailed guidelines, according to which the architects are required to plan the new projects. The Bihar pattern will shortly be recommended by the centre to [...] Continue Reading »
CM B S Yeddyurappa on Thursday launched the e-payment service through which traders can pay their sales tax, VAT, CST and entry tax. The customer will no longer go through the hassle of using drafts and cheques for payment. Karnataka has become the first state in the country to introduce RBI’s e-payment system for commercial [...] Continue Reading »
Foreign direct investment (FDI) in India down by 11 per cent year-on-year to $1.07 billion in the backdrop of financial turmoil in Europe. FDI in India declined for the third consecutive month in March to $1 billion. During the fiscal 2010-11, the inflows declined by 25 per cent to $19.43 billion, which makes it imperative [...] Continue Reading »
Under the present laws, the contracts are unilateral and there is no protection against unfair contracts. Often, service providers want consumers to sign on the dotted line even if the terms and conditions are stiff and give little leeway to consumers. The government is set to revamp the Consumer Protection Act, 1986 to provide for [...] Continue Reading »
The old system of BBMP property tax collection system which was in existence between 2003 and 2007 will be revived to facilitate easy and simple payment of property tax. The Bruhat Bangalore Mahanagara Palike (BBMP) has decided to revert to the old system of property tax collection in the next four months. As most of [...] Continue Reading »
New Delhi-based research firm PE Analytics has drawn up plans to launch a real estate price index. These indices will be based on the actual transaction and registration values prevailing in various micro-markets for the residential and commercial asset classes. The indices will be the barometer for measurement of real estate sector performance and will [...] Continue Reading »
The Mumbai based real estate developer, Godrej Properties Ltd, signs a development agreement and plans its second residential project in Chembur Mumbai strengthening their presence in Mumbai Real Estate. Godrej Properties Ltd announced that it has finalized a development agreement with Capsulation Services Private Ltd. The company will develop a residential project in Chembur Mumbai [...] Continue Reading »
Chennai-based Isha Homes (India) Private Limited is planning to raise Rs.150 Cr through PE to develop two projects in Chennai and one in Coimbatore for a total project value of Rs.500 Cr. Isha Homes is a real estate developer with niche villa homes segment, which entered budget apartments last year. Established in 2004 by Suresh [...] Continue Reading »
Higher interest will push up monthly installments for home loans for existing as well as new home buyers. The National Real Estate Development Council (Naredco) expects interest rates on housing finance to increase to 10.5 per cent for loans up to Rs 30 lakh and 11 per cent or more on loans above Rs 30 [...] Continue Reading »
