Realty News
Minimum Alternative Tax (MAT) which has been imposed alongside Dividend Distribution Tax (DDT) to adversely affect 50-odd Gujarat’s SEZ proposals. Proposals made in two Vibrant Gujarat investment summits, in 2009 and 2011, worth around Rs 1.25 lakh crore, would be adversely affected. The Government of India’s (GoI) to impose a minimum alternative tax (MAT) of [...] Continue Reading »
Lonely senior citizens have become the target of land sharks who enjoy the support of politicians. The senior citizens say Land Mafia have been threatening them to sell their land for building a multi-storeyed commercial-cum-residential complex. A police officer said that land sharks were active since land prices in Besant Nagar had soared to more [...] Continue Reading »
The Greater Hyderabad Municipal Corporation (GHMC) to collect surcharge and other taxes in colonies where new development works will be taken up under Total Infrastructure Program (TIP). The works would be taken up in new colonies in surrounding municipal circles with a loan of Rs 600 crore proposed to be taken from various financial institutions [...] Continue Reading »
Mumbai Developers have had a tough time getting project approvals since the Prithviraj Chavan government has taken over. Tardy approvals created a drag on Mumbai realty sales volumes and project launches. According to sources, officials of the government have been reluctant to utilize any of their discretionary powers. This has led to putting on hold [...] Continue Reading »
Real estate developers in Chhattisgarh will follow code of conduct to ensure transparency in the dealings of the sector. Under the code of conduct, it would be mandatory for the developers to mention the actual usage area to buyers (Carpet area), compensation in case of project delay and honouring of the agreement between the two [...] Continue Reading »
In view of the acute shortage of sand for construction purposes in the state, the ministry of environment and forests recently lifted the moratorium on sand mining in non-coastal regulation zone areas of Sindhudurg and Ratnagiri districts for a period of two years. Shortage of sand in the state has risen to 40 per cent [...] Continue Reading »
Mumbai and the outskirts of the city has seen an 11% growth in rental value in the past year. The figure for Bangalore, Pune and Delhi has shot up by 13%, 11% and 9% respectively. The rent in South Mumbai had gone through the roof. It is still unaffordable. So, people are shifting towards the [...] Continue Reading »
According to a study of real estate research firm Jones Lang LaSalle India, the city is likely to absorb about 7.1 million sq ft of office space by 2011 against a supply of 7 million sq ft in this period. “A majority of the expected absorption is likely to take place in the secondary and [...] Continue Reading »
As land and house prices soar in Bhubaneswar, cases of cheating by realtors are also on the rise.The Orissa chapter of the Confederation of Real Estate Developers Association of India (Credai) launched a grievance redressal cell to help solve the problems of customers. The association believes this grievance cell would help to provide a fair [...] Continue Reading »
South City 1 Gurgaon residents are up in arms against their developer. The residents will stage a demonstration against their developer Unitech. The EWS association is supporting the South City 1 Residents Welfare Association in its fight for their rights on April 30. The residents of posh township are up in arms against their developer, [...] Continue Reading »
