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Brihanmumbai Municipal Corporation (BMC) modified the transfer of development rights (TDR) to reduce the slums area in Mumbai. The developers working to rehabilitate the slums, will get TDR benefits to construct residential and commercial spaces anywhere in Mumbai. BMC modified the TDR policies to help the residents of the slums in getting a good living [...] Continue Reading »
The Delhi State Consumer Dispute Redressal Commission held the management of parking lot liable for deficiency of services when it failed to prevent the theft of a car parked in its parking lot. In this case, Rs. 5 was charged as the parking fee and a token receipt was given to the claimant. The citizens [...] Continue Reading »
According to the census 2011, more than 4lakh apartments are vacant in Mumbai. According to the experts the vacant apartments proves that the builders are holding those properties expecting a rise in price. The experts also said that all vacant apartment do not indicate that they are unsold. There are many instances that NRI’s bought [...] Continue Reading »
External commercial borrowing is allowed for low cost affordable housing projects. This is the only positive gain real estate sector achieved from the budget. However the entire real estate is disappointed after the announcement of the budget. The realty sector still not get the industry status. FDI norms for the real estate kept unchanged. Hence [...] Continue Reading »
The 8th Main locality in Sarjapur, Bangalore is known for its lush greenery with trees welcoming on both side of the roads. Such is a beauty of Sarjapur for the morning walkers on Sundays. The actual terrifying scene can be witnessed from Monday mornings with the utter chaotic prolonged traffic! One can never see traffic [...] Continue Reading »
Urban development department issued an order to increase the floor space index for the commercial properties constructed in the non- congested area of Nagpur. With this decision the builders now have a huge scope to build larger commercial properties. When the Floor space index (FSI) was reduced earlier in 2010, the builders objected that decision. [...] Continue Reading »
As the price of apartments are shooting up in most of the places in India, the buyers are hoping some good announcement to reduce the cost of apartment in the budget. It is noticed that the availability of mid and higher range apartments has been increased. But affordable residential apartments are not available according to [...] Continue Reading »
The recent economic survey 2011-12 declared in parliament on Tuesday, the residential property prices increased by 54 percent in Delhi. It is also been learn that maximum rise in property price has been witnessed in Bhopal more when compared to NCR and Faridabad which has seen a rise of 116 percent. On the other end [...] Continue Reading »
The entire real estate sector is waiting to see the pros and cons of realty budget 2012. Lot of hope and expectation is rising in this sector. It is reported that the realty sector is the second largest to generate employment and about 5 percent of the total GDP of the country is contributed by [...] Continue Reading »
Indore police stepped into the premises of a realty firm to enquire and investigate. And the Economic Officers Wing of the police department claimed that they have identified financial fraud running by the realty developer. As public complained against the builder, Police has made the raids at the office of Guru Sanee Real Estate and [...] Continue Reading »
