Realty News
The land acquisition process in power projects, including cement plants, has hit a road block as the state government has not framed the rules under the newly enacted Right to Fair Compensation and Transparency in Rehabilitation and Resettlement Act (RFCTRR), 2013, that has come into force in the state for acquiring land for any purpose. [...] Continue Reading »
Betting big on Indian realty, Sotheby’s International Realty Affiliates LLC — a group company of global auction house Sotheby’s International — has signed an exclusive agreement with Delhi-based real estate consultancy firm RealPro to develop its brand in India by setting up a brokerage firm. North India Sotheby’s International Realty is set to start operations [...] Continue Reading »
Chief Minister J Jayalalithaa on Sunday announced several projects worth more than Rs 2,000 crore for infrastructure development in Coimbatore city. The projects include 2,912 houses for the homeless to be built at a cost of Rs 443.6 crore, underground drainage and storm water drains in extended areas of the city corporation at an estimated [...] Continue Reading »
Non-resident Keralites (NRK) are fuelling Kochi house prices by 30 percent, said P S N Rao, chairman of National Association of Realtors-India (NAR-India), the national federation of associations of real estate agents in 25 cities of the country. Rao based his observation on the data collected through the network of Kerala Realtors Association (KRA) members [...] Continue Reading »
Widows and transgender may get government backing to own a house in urban areas with a plan proposed to ease the interest burden. At present, only women, SC/ST, minorities and differently able persons get such a preference. Learning from the experiences of Rajiv Rinn Yojna (RRY), an instrument to address the housing needs of the [...] Continue Reading »
To help investors find land, the Bihar government has set up a website where landowners willing to sell their land can find buyers. Bihar Industry Principal Secretary Naveen Verma said at a CII conference here that they have this website where those who want to sell land can post details of it. So this becomes [...] Continue Reading »
Sumit Jain, the Co-founder and CEO of CommonFloor.com has observed an interesting trend over the last one year in the Indian real estate market. There is an increased demand for ready-to-move-in properties. The main factor which is responsible for this rise in demand is the inordinate delay in project delivery. Due to this the home [...] Continue Reading »
Again in another hearing by the District Consumer Disputes Redressal Forum, the builders were found guilty. The District Consumer Disputes Redressal Forum has directed Ansal Properties and Infrastructure Limited to pay Rs 50,000 as compensation to a New Delhi resident. Sudhir Khosla the complainant alleged that in 2006, he had applied for a residential plot [...] Continue Reading »
There are too many cases coming up lately where the developers have collected money from the citizens; however they do not own the land for which they have raised the funds. Another trend which is visible lately is that the real estate firms are raising funds from the retail investors, however are failing to register [...] Continue Reading »
The amount that PACL Limited has been ordered to return by the stock market regulator SEBI would be $8.1 billion or Rs 49,100 crore in deposits. The Securities and Exchange Board of India (SEBI) has asked PACL to return this sum to the investors within three months. PACL now plans to appeal to the Securities Appellate [...] Continue Reading »
