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The ready reckoner (RR) which directs the realty land rates is now demanding a revision. However, with the slow pace recorded in the present realty market, the Maharashtra government has paused the revision work for time being. The proposal of 20 percent average hike in stamp and registration duties are being denied. To discuss the [...] Continue Reading »
Government bodies fed up handling people cheating and illegal cases have now routed tough measures to make them pay for it! The Ranchi urban development department had come up to a decision to impose a fine of Rs 2,000 per day on the property owners who have failed to register their properties. The same was [...] Continue Reading »
Irrigation project to start in Pranahita-Chevella lift is being delayed up due to slow land acquisition process. Planned tunnel works has been stopped for time being and will regain its speed in January. The whole process of planning the project has been completed. The only obstacles are acquisition of 70 acres of remaining land and [...] Continue Reading »
Mahindra Holidays & Resorts has added up another project in its growing list of properties. This time it is in Goa. As the New Year is nearing, Club Mahindra had a sight on the most popular tourist spot in the country. It has recently acquired a 106-rooms property in the city. With this acquisition, the [...] Continue Reading »
Property owners who own illegal buildings, you have tough time ahead! Recently, Greater Hyderabad Municipal Corporation (GHMC) has raised 25 percent assess the unauthorized constructions. GHMC Commissioner M.T. Krishna Babu declared the same and ordered the Deputy Municipal Commissioners to implement 25 percent assess only on the illegal constructions in the Hyderabad city. The GHMC [...] Continue Reading »
Mumbai developers and builders blame Reserve Bank of India (RBI) for the poor realty sales for the year 2011. Every month there is 12 percent reduction in realty sales, which is a huge loss indeed! However, the realty analysts say that RBI is doing its job and has been neutral by pausing and easing interest [...] Continue Reading »
Residents of Delhi are still unsure of staying above two floors of a residential apartment! Building of floors above second floor was given a green signal according to Master Plan 2021 and Union urban development ministry. Master Plan implemented in 2007 accepted this clause. But Supreme Court stayed on the construction of third floor and [...] Continue Reading »
Yet another turmoil related to opening of Savitri complex! Due to heavy traffic and congestion problems, representatives from more than thirty Resident Welfare Associations (RWAs) of neighbouring areas are planning on a hunger strike and dharna outside Savitri Complex. The areas include like Greater Kailash, Masjid Moth, Chittaranjan Park This strike is a protest to open the [...] Continue Reading »
New Delhi has plans of expanding realty sales along with boosting viability of road and highway projects. To balance realty fiscal stress, the government has introduced new scheme of ultra mega road projects (UMRPs). The realty firms who accept these orders will be availed to develop real estate projects alongside the stretches. Rs 20,000 crore [...] Continue Reading »
Land acquisition was a major headache throughout the year in Noida and therefore maximum of the building constructions were stopped. Now things are in place there is huge number of upcoming projects and the floor area rates have raised by Rs.500 to 600 per square feet. The Amrapali Group, a realty firm has planned to [...] Continue Reading »
