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If the choice was between farming and real estate, the latter is clearly the winner for people in the TG Halli area as it offers monetary benefits with far less hard work. Agriculture has slowly became a second option for landlords here. Farmers, too, started converting their fields into 30 ft x 40 ft sites [...] Continue Reading »
Sensible economics suggests that if developers can’t sell at high prices, they should cut rates and find buyers. Anecdotal evidence suggests that many builders are selling land holdings to finance loans, rather than cut prices. This too is good, because it will bring more land back into the market, creating further pressure for property prices [...] Continue Reading »
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) unveiled a roadmap to boost investments in Haryana. The ASSOCHAM plans to organise Invest Mart in the near future where about 300 investors from various countries will converge to explore the possibilities of investing in Haryana,said chairman of ASSOCHAM’s northern region development council Lalit Khaitan. [...] Continue Reading »
Real estate emerged as the most favourite sector for investors in Haryana in 2010, an Assocham study said. Of the total investment of Rs 4.3 lakh crore under implementation, real estate accounted for Rs 2.4 lakh crore, it said. It said Rs 2.4 lakh crore were invested in major cities like Gurgaon, Manesar and Faridabad. [...] Continue Reading »
The number of TDR (transferable development rights) certificates issued has seen a sharp increase and people’s attitude towards TDR especially in the suburbs of Bangalore is changing. TDR Bangalore benefit the funds starved BBMP because they obviate cash outflows. Under current rules, every unit of land surrendered entitles the landowner to develop 1.5 times that [...] Continue Reading »
Taking over as the new president of MCHI (Maharashtra Chamber of Housing Industry), Paras Gundecha has stressed the need for an image makeover for the entire developer community and remarked that a code of conduct would go a long way in earning goodwill for the fraternity from all quarters. “The new committee would be keen [...] Continue Reading »
Mumbai School Bus Owners’ Association sought to increase the school bus fee by over 40% in the new academic year. SBOA members and other bus owners are planning to meet the transport secretary and government officials on Friday. Hike in petrol prices to get worse for parents of school-going children. The School Bus Owners’ Association [...] Continue Reading »
Tata Housing Development Company Ltd to invest Rs 2000 crore to build a luxury housing project in Gurgaon and also announced its plans to foray into the overseas market this fiscal. “We are launching a luxury housing project, ‘Tata Primanti’ in Gurgaon, comprising 1,100 units. The investment to develop this project will be Rs 2,000 [...] Continue Reading »
Sahara Group negotiated the Rs 70 crore a year Rent deal for commercial property at Bandra-Kurla Complex. The deal, touted as the highest ever for a commercial property in terms of annual rent. According to real estate sources, the UP-based Sahara Group negotiated the deal for a lease amount of Rs 225 a sq ft [...] Continue Reading »
The revenue department has proposed an amendment to the Indian Stamp Act, 1899 to capture the huge change in the Indian economy over the past century. The draft law will be taken up by the cabinet soon. The new stamp duty law worked out by the government says the benefit will lapse one year after [...] Continue Reading »
