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The real estate sector in Pune is beginning to show serious signs of strain under the combined weight of increasing cost of construction, astronomical mortgage rates and a generally uncertain economic climate. Inflation has also contributed to a decrease in affordability of residential properties. In 2011, prices had increased by between 4-5 % in many [...] Continue Reading »
Vigilant Citizens Welfare Association says Tondiarpet zone, in which Kodungaiyur falls, generates only 320 tonnes of garbage a day, but 4,000 tonnes of waste from seven zones is disposed here. Though the Chennai Metropolitan Development Authority (CMDA) marked the area for a government institute, it was turned into a dumpyard 16 years after the residential [...] Continue Reading »
More than 25,000 idols were immersed in Sankey Tank’s kalyani (immersion pond) on Day 1 of the festivities while Yediyur lake in South Bangalore saw 40,000 idols immersed. BBMP tried hard to reduce the pollution of these water bodies but it was clearly a losing battle. Over 40,000 idols were immersed in the water body [...] Continue Reading »
Interest rates levied by housing finance companies (HFCs) have risen to 11-11.25% from 8.5% in the past year, raising monthly instalments. With interest rates moving up, most of the lenders are going to be impacted as almost 85% of the loans are on floating (interest) rate. National Housing Bank (NHB) asked lenders to keep a [...] Continue Reading »
Flats owners of Park Place luxury housing project contested the arbitrary change in the housing plan done by DLF and accused the builder of misusing its dominant position as per the contract agreement signed between the flat owners and the builder. After the Competition Commission of India (CCI) order, the flat owners are joyous. “The [...] Continue Reading »
Competing with each other in setting up colourful pandals and necessary paraphernalia to make the Ganesh festival a grand one, various youth and welfare organisations in Hyderabad were putting in extra efforts. Stalls offering different types of Ganesh idols at Narayanguda, S.R.Nagar, Koti, Monda Market, Secunderabad and Dhoolpet were teeming with customers. With costs of [...] Continue Reading »
New Delhi Municipal Council (NDMC) has decided to provide gymnasiums to its colonies’ residents. There are in total 37 colonies under NMDC. But there is plan of construction of these fitness centres in 14 residential colonies. “As per the proposal, we will be constructing ports cabins which will be equipped with treadmills, cross trainers, exercise [...] Continue Reading »
An average household that consumes 50 kilolitres of water (around 5,000 buckets) every two months and is charged R1,800, is paying R1,960 since January 2011. Till 2014, every year, the bill will go up by 10% of the amount paid in December. Delhi Jal Board (DJB), the city’s sole water utility, increased the water charges [...] Continue Reading »
Prices of new residential property could fall 10-15% by Diwali. But leading builders say supply has to increase for prices to come down. The RBI’s rate tightening has resulted in developers not having funds to complete projects, and hence the supply will remain in check while demand is still intact. A 10% price correction is [...] Continue Reading »
State government had issued the preliminary notification for increasing the guidance value in Bangalore on July 16, giving the public two weeks to file their objections, if any. The notification had suggested a hike ranging from 10% to about 200% depending on the civic amenities and demand for properties in the concerned areas. But the [...] Continue Reading »
