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Punjab realty is going to witness a downward demand for time being till the Assembly elections next month. The elections are going to start on January 30. The residential complexes will be the one to get more impacted by the upcoming elections. The houses are already getting delayed because of late approvals. There has already [...] Continue Reading »
Khandagiri Housing Board Colony in Bhubaneswar has been amidst lot of war nowadays. Two groups has been claiming a small part of land in the colony for genuine reasons. The conflict is being happening between the local residents and some unidentified people intruded on the land. The residents alleged that the outsiders have started illegal [...] Continue Reading »
The Bruhat Bengaluru Mahanagara Palike (BBMP) budget seems to have no end to it! For the year 2010 and 2011, BBMP had budget estimation presented was Rs 3,856 crore or 8,861 crore. It had raised revenues for a full quarter, which was unmeasurable. The budget demand for the previous year was just a curtain raiser [...] Continue Reading »
Lokayukta raid is on flame again! Recently, lokayukta conducted a raid simultaneously in Bangalore, Mysore and Hassan. There has been a rush for grabbing illegal properties in Bangalore, therefore illegal wealth has been piled up by people. In the recent raid, Lokayukta recovered property assets worth Rs 3.37 crore. Now, the world knows to where [...] Continue Reading »
Long awaited Okhla sewage treatment plant was finally inaugurated for the purpose. The 30 million gallons per day plant will not only treat sewage but also generate electricity using biogas. This was a major part of the Yamuna Action Plan-II. The cost of the project is estimated to be around Rs 149.5 crore. Gas-based power [...] Continue Reading »
Banks will now be relieved if the amendments to the Sarfaesi laws is done very soon! Under the proposed amendments in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Sarfaesi), banks wil now be allowed to seize the defaulter borrower’s property in any case. They can even buy the asset [...] Continue Reading »
Residential properties in Hyderabad that have been leased and rented out by owners to other members will have to bear additional property tax rates. The Greater Hyderabad Municipal Corporation (GHMC) say that this is not a hike in property tax, however a rationalization of tax. The recent field inspection by property tax collectors revealed that [...] Continue Reading »
Metro cities has seen a slow down in demand in the residential realty sector in the recent times. This is due to the fact that there has been a lot of hike in property prices and rise in interest rates. According to a report, Delhi-NCR has topped the list of unsold flats at 102,758 units, [...] Continue Reading »
Realty sector in Bangalore and other metros is facing a crisis as unskilled labourers are leaving the construction work mid way. Labourers hailing from Bihar who had come to metros in the intention of earning big money have no longer interest in the city life. This is all because, their own state has become a [...] Continue Reading »
Secunderabad Cantonment Board (SCB) has plans for raising additional revenue of Rs 5 crore in the next quarter. SCB has commenced with revision of property tax assessments for the upcoming year 2012. It was recently learnt that old grant bungalows (OGBs) in Secunderabad Cantonment jurisdiction were used for commercial purposes. However these property owners were [...] Continue Reading »
