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The Bruhat Bengaluru Mahanagara Palike (BBMP) Council approved the new parking policy which would allow BBMP to collect parking fee from citizens in its meeting conducted in March. Parking lots will be set up in all areas and parking will be charged as per the policy. The policy aims to encourage public transport and reduce land [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) on Thursday presented an inflated budget for 2012-13 fiscal with an outlay of Rs. 9,498.90 crore which is Rs. 100 crore more than the 2011-12 budget. Chairperson of the Standing Committee for Taxation and Finance K.A. Muneendra Kumar said the total anticipated revenue was Rs. 9,288.95 crore, while the [...] Continue Reading »
The government is likely to announce one per cent of interest subsidy on housing loans up to Rs15 lakh with cost of the house not exceeding Rs25 lakh in a bid to help low and medium income households to own their own dwellings. The interest subvention scheme for the year 2011-12 was limited to a [...] Continue Reading »
Real estate in Wakad, a locality in Pimpri-Chinchwad, is growing at a fast pace. Aundh being fully occupied, the neighbouring Wakad is now Pune’s new most-sought location after Aundh and Baner. The locality is a preferred choice of investment for most of the IT professionals as the IT park at Hinjewadi is in proximity. It [...] Continue Reading »
A stagnant market and high interest rates on home loans is making developers to plan on small-sized residential projects, rather than luxurious projects. Cash-strapped buyers in Ahmedabad seem to have renewed the market for one and two bedroom apartments. Developers are focusing on smaller, well-designed apartments to cater to the rising demand, mostly from first [...] Continue Reading »
With all monsoon predictions going wrong, residents are now desperately waiting for rain to start. According to met department officials, condition was conducive for the onset of monsoon in the state as pre-monsoon showers were on time. However, system could not work effectively and weakened somewhere in between, which has delayed the monsoon this year. However, met officials still [...] Continue Reading »
Residents in Dindori Road are worried due to a leaking petrol pump along the road, as they are now getting water mixed with petrol from a borewell in their premises. With the civic body enforcing water cut in force by the municipal corporation owing due to the delayed monsoon, the residents of Dharma Bhakti society on Dindori Road [...] Continue Reading »
Garbage removal will be resumed on Thursday after a week-long break. The garbage collected from the city will be taken to Kochuveli Railway Station for the platform construction project, sources said. On Wednesday Urban Affairs Minister Manjalamkuzhy Ali held talks with Mayor K. Chandrika. He requested the Corporation to resume the transport of garbage to [...] Continue Reading »
The Reserve Bank asked urban co-operative banks (UCBs) to stop levying penalty on pre- payment of home loans on floating interest rates with immediate effect. Earlier this month, RBI had also asked the commercial banks to stop charging such penalties. The removal of foreclosure charges or pre- payment penalty on home loans will lead to [...] Continue Reading »
Bajaj Finserv Lending, the financing arm of Bajaj group, will be offering home loans to salaried individuals beginning October this year. At present, the company gives loans to only self-employed individuals. Presently, about 75-80 per cent of home loan portfolio is catering to salaried individuals. Home finance companies (banks and non-banking finance companies such as [...] Continue Reading »
