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Reacting to recent Supreme Court’s order, Noida Residents Banks’ Association (NRBA) has approached Noida Authority to approve banks at the present area under mixed land use norm. Under this norm, other commercial complexes can be opened in a residential area and the land would be status of commercial-under-residential. This is clause under Noida Master Plan-2031 and authority [...] Continue Reading »
Property owners who rushed and flouted the building construction norms, you have a tough time to face ahead! The Ahmedabad Municipal Corporation (AMC) demolished 29 buildings in the city. The commercial buildings in the New West Zone had illegally occupied the spaces and were not allowing the public to use the basement parking. Also the [...] Continue Reading »
Renting houses is still a risky task in this heating up realty market. Even though the property prices have started declining, selling, buying or renting a property is a risky task indeed! Citizens say that renting out a home in Mumbai is a toughest task, as one can never dream of getting home to one’s [...] Continue Reading »
Astaire Gardens, an upcoming residential township in Sector-70A of Gurgaon by BPTP has created an interest in Kotak Realty Fund. The realty fund has invested Rs 170 crore in the NCR-based developer’s project. The investment has been done by its foreign Kotak India Real Estate Fund. They are expecting a return of above 18-20% from [...] Continue Reading »
Housing sector in Bangalore has risen up in the real estate sector after the 2008 slump in real estate sector. Recently in a 5 grade scale, Bangalore has scored 2.8 and got the third spot, Ahmedabad being first with 3.1 followed by Hyderabad with 2.9 score. Generally, all the other cities were badly hit by [...] Continue Reading »
In Delhi, maximum of the properties have failed to construct in the minimum built-up area conditions. Around 73 colonies in walled city have failed to cope up the same and now the provisional certificates will be cancelled by urban development department of the state government. This report was traced by Municipal Corporation of Delhi (MCD); [...] Continue Reading »
This time, it was south Delhi illegal properties turn to get hit into the ground! The Municipal Corporation of Delhi (MCD) demolished six properties and sealed eight illegal properties. The MCD officials say that they had to carry on the demolition drive without showing any mercy as they were huge massive illegal structures. Also MCD [...] Continue Reading »
Greater Visakhapatnam Municipal Corporation is talk of the town due to bad collection of property tax and large debt this year. Apart from this, it is also facing problem in completing the projects in stipulated time under Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The debt has also risen to Rs 130 crore and for [...] Continue Reading »
IVRCL Infra, a Hyderabad based firm has planned to sell some of its lands in Bangalore, Pune, Chennai, Hyderabad and Visakhapatnam to recover from debt. The land measures around 1600 acres which was kept for real estate development. They have in total of 2300 acres of land, out of which 700 acres is being used [...] Continue Reading »
Property buyers beware of the residential projects which avail discounts while buying a property. According to the recent survey of Jones Lang LaSalle India (JLL), the developers who have started luxury residential projects will soon be facing problems in delivering the projects. Due to hike in interest rates and high property prices there is a [...] Continue Reading »
