Realty News
The Greater Hyderabad Municipal Corporation (GHMC) has decided to utilise the ‘Off Site Real Time ‘(OSRT) system for town planning operations and services to prevent unauthorized constructions and deviations in sanctioned buildings. The GHMC would monitor the sites through satellite maps and images. Under the OSRT system, GHMC’s town planning staff would take pictures of [...] Continue Reading »
No transaction in property will be allowed without the card in Mysore city and 42 villages coming under the jurisdiction of the Mysore Urban Development Authority (MUDA) and the Mysore City Corporation (MCC) limits Purchase and sale of property in Mysore will require a Property Card. The Property Card rule will come into effect from [...] Continue Reading »
As a part of a massive drive launched by Bharuch district superintendent of police Gautam Parmar and Bharuch Traffic Education Trust (BTET) against traffic violators, Police have issued show cause notices to builders and shopping complexes in the city for not providing parking facilities. Police have also asked the civic body to not give permission [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) has set March 31, 2011 as the last date to pay BBMP property tax for the year 2010-11. With GIS-based property survey finally reaching completion, it will now have access to a complete property database with details of dimensions, directions and land use. Even the number of floors in [...] Continue Reading »
Housing prices could fall by up to 20 per cent in Mumbai and Delhi-NCR sooner than expected if RBI raises key rates in its upcoming monetary policy review, says a report by property consultant Jones Lang LaSalle . It is widely expected that the apex bank would increase the key policy rates by up to [...] Continue Reading »
T A Mohandas Pai, human resources director, Infosys, said there had been a shift in the focus of the company, which was once synonymous with Bangalore.Infosys made several representations to successive governments, seeking land near Sarjapur Road, but got nothing apart from bundles of assurances. The company waited quite some time, expecting the state to [...] Continue Reading »
According to a Supreme Court verdict in 2010, a developer of a housing complex cannot charge members for parking space. The ruling said the developers cannot sell open spaces and stilt areas in their buildings as these are meant for common use and form part of the flats. I-T officials who raided the Lodha Group [...] Continue Reading »
After the Environment Ministry Jairam Ramesh recommended the demolition of the Adarsh Housing Society building in Mumbai for violating coastal regulations, Defence Ministry today said it would take a “balanced view” on the issue before arriving at any decision. He was responding to queries about the future of the building in view of the Environment [...] Continue Reading »
Market sources said leading banks now lend to only credible builders for select projects, but have turned off the tap for most others in the construction sector. Money has suddenly stopped flowing into Mumbai real estate sector with banks and financial institutions tightening the screws on builders. By March 2011, Mumbai builders alone are scheduled [...] Continue Reading »
The Sept 1 Supreme Court ruling prohibits builders from selling parking area as independent units to flat buyers. A division bench of Supreme Court has ruled that builders cannot sell parking areas in the stilt area as independent units as the same is to be extended as ‘common areas and facilities’ for the owners. Builders, [...] Continue Reading »
