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Confederation of Real Estate Developers Association of India (CREDAI) says that land owned by private companies should not be considered under the land acquisition bill as this would lead to a rise in land cost very soon and affordable houses would soon become a dream. According to the bill introduced in Lok Sabha the rehabilitation [...] Continue Reading »
The road widening work at HSR Layout which is been carried out in Bangalore has been resulted in slow moving traffic at Hosur-Luskar Road Junction near Forum Mall Koramangala. The roads here have been piled up resulting in the absence of pavements and the pedestrians end up commuting in the piled up roads. Ongoing work [...] Continue Reading »
State Bank of India has gone through teaser loan scheme by the Reserve Bank of India (RBI) in early 2009 but now ruled out relaunching a dual rate scheme for home loans due to its paying a stiff price in the form of huge provisioning. ICICI Bank and HDFC have already come up with teaser [...] Continue Reading »
Mr Rajeev Talwar, Group executive director of DLF said that distinction between Government land acquisition process, and free trade between willing buyers and sellers in private sector transaction, should be maintained. Any escalation in the land cost will be passed on to the consumers. To paint private property transactions between the willing buyer and seller [...] Continue Reading »
Gujarat Urja Vikas Nigam Ltd and Torrent Power, two of state owned distribution firms had filed petitions for power tariff hike which caters to Ahmedabad, Gandhinagar and Surat cities. The Gujarat Electricity Regulatory Commission (GERC) has accepted the petition and consumers might have to shell out an additional 2 per cent to 5 per cent [...] Continue Reading »
Chennai Corporation has identified seven illegal buildings on Wednesday in the commercial districts of Mannady and Sowcarpet.The demolition work will be continued in the neighboring districts on Thursday. Most of the buildings received plan permits for less floors but continued to construct more floors than sanctioned. Madras high court-appointed monitoring committee will be scheduled to [...] Continue Reading »
Hyderabad Metropolitan Water Supply and Sewerage Board (HMWS&SB) handed over its piece of land proposed for construction of a sewage treatment plant (STP) to L&T Hyderabad Metro Rail Limited (LT-HMRL) for a metro rail project. The proposed STPs were about to cost Rs 825 crore to the water board.The Water Board got this 42 acres [...] Continue Reading »
Many builders are finding it difficult to service loans-the combined debt of the top eleven listed real estate firms is 38,500 crore. In such a gloomy scenario, builders sharing resources-man, machine, land and finances-would help control costs and keep a check on inventory. Few builders have decided to build joint projects using one builder’s land [...] Continue Reading »
Ahmedabad Municipal Corporation (AMC) demolished a total of 15 building units on Tuesday out of which seven were illegal shops in Kubernagar. Six shops were demolished near Rajesh Dudh Ghar and one shop was demolished near a portion of the airport wall. The squad demolished structures in Vijay Crossroads margin space of Supath Tower. A [...] Continue Reading »
The Greater Noida Industrial Development Authority has decided to ask for additional payments from existing plot owners allotted plots in Greater Noida. Residential plots allotted by Greater Noida Authority to individual allottees will cost almost Rs 500 per sqm more. Three months back, the Greater Noida Authority had hiked land rates by 12.5 per cent [...] Continue Reading »
