Realty News
Queen of Hill Stations demands curbs on illegal building Udhagamandalam (Ooty) is known as the Queen of Hill Stations but Ooty town is losing its charm to unplanned development and mushrooming of illegal structures. Activists say land regulation rules should be implemented strictly as huge tracts of agricultural land in the fragile hill district are [...] Continue Reading »
Residents of L & T South City Bannerghatta Road, Bangalore protested at the Freedom Park, Gandhinagar against Messrs L&T and Dinesh Ranka for cheating South City apartment owners and deficiency in their project. Though originally L&T South City project scheduled to be completed by 2005, the project has dragged on for about 12 years and [...] Continue Reading »
The city may soon record the largest transaction for commercial space with Citibank India close to paying approximately Rs 1,000 crore for space in an under-construction building at Bandra-Kurla Complex. Market sources said the bank is believed to be paying Rs 33,000 a square foot for the 3 lakh sq ft office space in the [...] Continue Reading »
Tax payers this year can heave a sigh of relief that the corporation will not be going ahead with the 15% revision, as per the revised Self Assessment Scheme rulebook. From April 1, 2011 BBMP starts collecting property tax for for 2011-12. For property owners, March 31 is last day to pay their property tax [...] Continue Reading »
In perhaps a first, the Brihanmumbai Municipal Corporation (BMC) has issued a notice to the architect of an 11-storeyed building in Juhu, asking him to explain why he allowed his client to carry out construction beyond the approved commencement certificate plans. This is the same building to which the BMC had sanctioned 386 parking lots [...] Continue Reading »
BBMP asks citizens to alert civic body about illegal dumping of debris in lakes and other places. Their names will not be made public. At the same time, they will be given a Rs 2,000 cash reward while the culprits will be fined Rs 10,000. Bruhat Bangalore Mahanagar Palike (BBMP) wants the help of citizens [...] Continue Reading »
The Karnataka High Court directed the Bruhat Bangalore Mahanagara Palike (Greater Bangalore Municipal Body) to evolve a mechanism in two months time to prevent fire accidents in high rise buildings resulting in loss of human lives. A bench comprising Chief Justice J S Khehar and Justice A S Bopanna passed the order while hearing a [...] Continue Reading »
The builder held for inferior construction. The Economic Offences Wing of the crime branch arrested the builder, Avdesh Mittal, on Friday after investigations showed that the concrete used in construction of a five-storeyed building in the M Block market road in Greater Kailash-I was of poor quality and the structure can collapse in case of [...] Continue Reading »
After a one-year period starting in the third quarter of 2009,the Mumbai residential real estate market has been seeing a slowdown. The key reasons behind this slowdown are higher prices, higher interest rates impacting affordability, lack of liquidity, scams diluting investor sentiment – and, to a lesser extent, excess supply in a few micro markets. [...] Continue Reading »
The model real estate Bill has been redrafted to safeguard buyers from builders and land sharks.Under the new Act, builders risk losing their license for not keeping promises on deadline or quality In a move to safeguard buyers from builders and land sharks and regulate the real estate sector, the housing and urban poverty alleviation [...] Continue Reading »
