Realty News
The TDR-based road widening project, which did not go down well with residential property owners, is turning out to be a lucrative business proposition for builders and land bankers.Owners who are sure of losing a large area, are open to selling their buildings. Builders, buying such properties, do the amalgamation of plots, surrender the land [...] Continue Reading »
The residents of Banaswadi along with civil society groups, on Sunday, marched in protest against the Bruhat Bangalore Mahanagara Palike’s (BBMP) road widening project. Holding placards and shouting slogans against road widening, the residents said that the BBMP and the Government should come out with alternative solutions to the problem of traffic congestion. Banaswadi road [...] Continue Reading »
Under the new capital value-based system property taxes are likely to go up in south Mumbai, while residents in the suburbs may get some relief from the current property tax levels.The new system was announced on 1st April 2010, but has not been enforced as the tax rate has not been fixed yet. The civic [...] Continue Reading »
The Loan scam could have a short-term adverse impact on the real estate sector. Banks that have exposure to real estate are stepping up their due diligence. Such scrutiny may tighten realty firms’ liquidity positions as banks may go slow on loan sanctions. Though some realtors dismiss the problem as a minor aberration, there are [...] Continue Reading »
November 29 is the last date to pay property tax for the second half of the year without penalty. Property tax for the year 2010-11 can be paid online or Bangalore One centres and at BBMP help centres where it was paid last year. Payment has to be made by cheque or DD in the [...] Continue Reading »
Loan scam to hit realty companies as bankers turn cautious in sanctioning fresh loans. The arrest of eight finance executives by the Central Bureau of Investigation on Wednesday on charges of taking bribes to sanction loans does not lead to a systemic risk but bankers turn cautious in sanctioning fresh loans for new property, forcing [...] Continue Reading »
The government insisting that developers follow the carpet-area norm but the revenue department continues to charge stamp duty on the basis of build-up area. According to Maharashtra Chamber of Housing Industry (MCHI), the Brihanmumbai Municipal Corporation (BMC) sanctions building permission plans on the basis of built-up area. The Maharashtra Chamber of Housing Industry (MCHI), a [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) hikes compensation for land losers for the Kadirenahalli underpass. The BBMP had initially agreed to pay Rs 1,500 per sq ft but the residents were demanding not less than Rs 3,000 a sq ft. Later, the BBMP agreed to increase the compensation amount to Rs 1,960 per sq ft [...] Continue Reading »
An amendment to the zonal regulations of Masterplan 2015 won’t allow change of residential land use to commercial. The Bangalore Development Authority (BDA) is bringing in an amendment to the zonal regulations of Masterplan 2015 that will bar the change of land use in areas that have narrow roads. According to the proposal, no change [...] Continue Reading »
The elevated Tumkur Road and Hosur Road projects have created new residential catchments along their routes. A few developers have launched their residential projects along this route, and social infrastructure such as hospitals, residential schools, colleges, showrooms and hotels are emerging on both sides of the highway. In Bangalore south, the 10 km elevated Hosur [...] Continue Reading »
