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RWAs across New Delhi demanded that a campaign be started to protest against the 22% power tariff hike. They met for a Jan Sunvai on power tariff hike at Chelmsford Club on Saturday. A meeting between United Residents Joint Action (URJA) and Delhi RWAs was held to seek people’s opinion on the recent tariff hike [...] Continue Reading »
With the Durga Puja less than a month away the Residents’ welfare associations (RWAs) of Delhi’s Chittaranjan Park are caught in a tussle with the puja samitis over environmental hazards arising from the celebrations. The RWA of K Block, where the “Milan Samiti” organised pujas in the last nine years, declared a ban on the [...] Continue Reading »
Confederation of Real Estate Developers Association of India (CREDAI) opposed the Real Estate Regulation Bill 2011 to form a regulatory body stating that it would become a “breeding ground for corruption” if implemented. The Centre proposed the regulatory body to protect home buyers from fly-by-night developers. CREDAI further questioned the formation of any regulatory body [...] Continue Reading »
Real estate analysts maintain that the prices have started softening in Delhi as well as peripheral urban areas like Chandigarh, Mohali and Panchkula. But developers refuse to believe that the prices would come down in the periphery as the prices are “rational” in the peripheries. Amit Jain from Premium Acres said, “Prices have started coming [...] Continue Reading »
Demand for property in major cities across the country have dipped and sharp increase in borrowing costs had kept buyers on the sidelines. Banks have raised their lending rates sharply in the past few months after Reserve Bank of India (RBI) raised interest rates 11 times since March 2010. Bhopal leads the pack in rise [...] Continue Reading »
Noida Extension is no longer the focal point of realty development after the land row. Property developers are moving to other areas in the NCR. Unlike Noida where those affected are mainly end users, who purchased property due to affordability, in Gurgaon, majority buyers are investors. Haryana has put a cap of 55 apartments in [...] Continue Reading »
Various projects of large and well-known developers stretching from Greater Noida to Gurgaon are under the scanner of Belaire Owners’ Association after Competition Commission of India (CCI) slapped a penalty of Rs 630 crore on DLF for “unfair trade practices” and “abuse of market dominance”. According to the builder-buyer agreement in the Belaire case: “The [...] Continue Reading »
The stretch between Greenlands and Jubilee Hills, via Krishna Nagar falls under metro rail corridor 3, which is to run between Nagole to Shilparamam.The corporation has decided to acquire the properties to widen the road to 100ft for the metro rail project, after conducting a physical survey of all the properties. The Greater Hyderabad Municipal [...] Continue Reading »
Residential plots in Greater Noida will be dearer by almost Rs 4,000 per sqm while for commercial and institutional plots an extra Rs 8,750 and Rs 2,025 per sqm, respectively, will be charged. In Patwari alone, the Authority and builders have already incurred expenditure of Rs 300 crore in order to reach a compromise with [...] Continue Reading »
Subodh Kumar’s new Development Control Rules (DCR) proposals will allow developers to build an extra 25% above the sanctioned FSI in a residential project, for which they will be charged 100% premium. For commercial buildings, the BMC will allow 15% additional built-up area and charge a similarly hefty premium. In a joint statement issued exclusively [...] Continue Reading »
