Builders
The High Court of Bombay has filed a case against the changes proposed on the Building Control Act, 1968. Justice Salvi reported saying that as per his observations the rent controller has no power to amend the law and with the orders given by the High Court. When a writ petition was passed over this [...] Continue Reading »
In Chennai, the apartment gains were recorded maximum in areas where the base price was low. In north Chennai, the builders are found to be hesitant to promote projects as the prices have been low drastically. The disparity between the north and south has always been in the real estate flow. There was drastic rise in prices [...] Continue Reading »
Bangalore Development Authority (BDA) website had links to some overseas private property developers. BDA had not renewed its domain name on the internet. The front page of website says the domain name expired at 10.16am on September 9. Raja Nambiar gave away 1.5 acres of land for the Peripheral Ring Road and is waiting for [...] Continue Reading »
Chennai Corporation has identified seven illegal buildings on Wednesday in the commercial districts of Mannady and Sowcarpet.The demolition work will be continued in the neighboring districts on Thursday. Most of the buildings received plan permits for less floors but continued to construct more floors than sanctioned. Madras high court-appointed monitoring committee will be scheduled to [...] Continue Reading »
Many builders are finding it difficult to service loans-the combined debt of the top eleven listed real estate firms is 38,500 crore. In such a gloomy scenario, builders sharing resources-man, machine, land and finances-would help control costs and keep a check on inventory. Few builders have decided to build joint projects using one builder’s land [...] Continue Reading »
Noida Extension is no longer the focal point of realty development after the land row. Property developers are moving to other areas in the NCR. Unlike Noida where those affected are mainly end users, who purchased property due to affordability, in Gurgaon, majority buyers are investors. Haryana has put a cap of 55 apartments in [...] Continue Reading »
Residential plots in Greater Noida will be dearer by almost Rs 4,000 per sqm while for commercial and institutional plots an extra Rs 8,750 and Rs 2,025 per sqm, respectively, will be charged. In Patwari alone, the Authority and builders have already incurred expenditure of Rs 300 crore in order to reach a compromise with [...] Continue Reading »
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 »
Cordcon Builders Pvt Ltd will have to pay the amount to one of its residents, Anant Shirotiya as reimbursement for the money he spent on repairing the damage and the mental agony he suffered due to the leakage. In March 2002, Shirotiya booked a flat in Cordcon’s high rise, Sagar City. Shirotiya noticed dampness in [...] Continue Reading »
Frustrations of lakhs Mumbaiites who are watching their dream homes slip fast out of their reach. There are several factors to blame for this, but chief among them is the ugly nexus between civic officials, politicians and the builders. The builder community claims that it is being blamed unfairly. “How can we control prices when [...] Continue Reading »
