Realty News
Karnataka State Government assured the High Court that it will not carry out midnight drives to demolish unauthorized constructions in the City. The affidavit submitted by the Advocate General Ashok Harnahalli to the Court said the government had issued a circular to all city corporations and municipal corporations in the State directing them on the [...] Continue Reading »
Everybody involved in the TDR (transferable development rights) tangle seems to have forgotten a simple truth. The TDR was a scheme meant to preserve open spaces and heritage buildings in the heart of a city, moving development to outskirts. But in Bangalore, it has morphed into taking chunks of land away from home owners. BBMP, [...] Continue Reading »
It must be made absolutely clear to all property owners that TDR is `optional’ says panel. The panel has instead advocated Town-Planning (TP) schemes for road widening. Reduced Floor Area Ratio (FAR) is another main recommendation. The committee said that unless this happens, TDR will not be effective in Bangalore. Transferable development rights (TDR) is [...] Continue Reading »
Bankers would now exercise greater caution before sanctioning loans for project finance. Several bankers and housing finance executives said the guidelines would become more stringent across-the-board, particularly for project financing. Stung by Housing Loan Scam, banks and housing finance companies will seek additional security and add completion guarantee clauses into agreements before sanctioning loans to [...] Continue Reading »
The civic agency has identified around 1,500 buildings which have constructed illegal floors in in Lakshmi Nagar and surrounding areas. The Municipal Corporation of Delhi (MCD) has suddenly woken up to the problem of illegal construction in the city after the house collapse in Lalita Park around two weeks ago. MCD stated that number of [...] Continue Reading »
BBMP will send notices to the property tax defaulters of 2008-09 and 2009-10 across Bangalore to adhere to the payments, failing which the civic body would attach properties of the defaulters for the year 2010-11.Fed up with the poor response despite several reminders to meet the tax payment deadline of November 29, the Bruhat Bangalore [...] Continue Reading »
Civic agencies in the city seem to have sprung into action against illegal construction.According to local residents of Agar Nagar, nearly 30-35 houses were demolished in this drive which started around 11.30am. People’s Union for Civil Liberties (PUCL) members said the colony is in the process of regularisation and was given a provisional certificate by [...] Continue Reading »
Initially, this offer is only for property owners on Magadi Road who have to give up their land for road widening. The BBMP is now buying them from property losers to expedite road widening. The decision was taken during Tuesday’s inspection by H Ravindra, chairman, major works committee. Ravindra assured the worried 232 property owners [...] Continue Reading »
The Delhi Real Estate Bill has been pending for over three years now with the Union urban development (UD) ministry and is unlikely to see the light of the day anytime soon. At present, the Capital does not have any system in place to protect property buyers against unscrupulous real estate developers, agents and promoters. [...] Continue Reading »
According to the new guidelines brought out by the Central Board of Direct Taxes (CBDT), the unique Document identification number (DIN) will be mandatory “in respect of every notice, order, letter or any correspondence” with the department, by the taxpayers. The government has made it mandatory for taxpayers as well as collectors to quote a [...] Continue Reading »
