Bangalore
According to ‘India Tax Ratio 2012‘ report by TaxSpanner, an online income tax return filing portal, only 56 per cent salaried individuals surveyed in the country own a house despite earning more than Rs 10 lakh annually. And amongst those earning below Rs 10 lakh annually, only 13 per cent own a house. This shows [...] Continue Reading »
A local court in Bangalore has issued a non-bailable warrant (NBW) against Karnataka Forest Minister, CP Yogeshwar, after he failed to appear before it in connection with Mega City Scam cases filed against him. The minister was allegedly involved in 14 cases concerning the Mega City Builders and Developers Ltd. (MDBL), Bangalore. The firm had [...] Continue Reading »
Sobha Developers, a Bangalore-based leading real estate company, on Friday revealed that it has sold properties worth Rs 479 crore in the first quarter of this fiscal, up by 58% from the same period last year. In the first quarter of 2011, the firm had sold properties worth Rs 302.7 crore. For the quarter ended [...] Continue Reading »
Century Real Estate, one of the leading realty players of Bangalore, is likely to buy at least half the investment from Fortress Capital, a global private equity fund that had invested about $100 million in 2007. The company is one of the largest land-bank owners in Bangalore. It had embarked into developing various commercial and [...] Continue Reading »
The first two quarters of the ongoing year 2012 have seen 21% decrease in office space absorption across key metro cities in India. The office space absorption in this year being 13.4 million square fee while it was 16.9 million square feet at the same period in 2011. According to the latest Cushman & Wakefield [...] Continue Reading »
The office space absorption in Hyderabad grew 5 % while overall office space absorption across top eight cities of the country plummeted 21% to 13.4 million sft as compared to 16.9 million sft in the first half of 2011, according to a study by global real estate consultancy firm Cushman & Wakefield. This steep drop in office [...] Continue Reading »
The Bruhat Bengaluru Mahanagara Palike (BBMP) has planned to install a biometric system in order to make flawless issue of permanent khatas (property ownership documents) and to eliminate corruption in property transactions, including doctoring of khatas. This move will safeguard the genuine property owners’ interests. The fingerprints will be matched in order to authenticate the ownership. [...] Continue Reading »
With the developers betting big on the hospitality sector, Bangalore will house 20 new luxury hotels within the next three years. After three lackluster fiscals, Bangalore’s hospitality area is all set for a bounce back encouraged by the upturn in the commercial realty segment, and with occupancy levels for luxury hotels rising to 65%, Bangalore-based [...] Continue Reading »
Shares of realty firm Godrej Properties has gained over 7 per cent, with its market capitalization added to Rs 156 crore in a single trading session. Shares of the company, which had jumped more than 7 per cent to a high of Rs 560 on the BSE, settled for the day with gains of over 3.24 [...] Continue Reading »
Annoyed by the issue of lesser water supply, the residents of JC Nagar, Bangalore blocked the streets to express their anger on Sunday. The agitated residents gathered at the main signal junction near Shivaji Talkies on JC Road and blocked the traffic. The residents of SJ Park, Vinobha Nagar, Journalists’ Colony, Doddamavalli and Sudhama Nagar [...] Continue Reading »
