Capital value
Airoli, which is located far from the hustle and bustle of city, is now developing as one of the business districts of Navi Mumbai. Even lands are available at an affordable rate at this area which results in high demand for the commercial space which has boost up the real estate market in the area. [...] Continue Reading »
In terms of real estate, 2012 was a dull year because of poor industrial production and high interest rates, according to Jones lang LaSalle. In 2012, 1,60, 622 residential units launched and at the same period in 2011, 1,54,701 units were launched. The year-on-year rise in average residential capital value in 2012 was in the [...] Continue Reading »
It is found that many developers in National Capital Region (NCR) and Mumbai have cut down property prices by around 15 percent, as demand and rent more or less remains the same. However, in a few parts of Mumbai, there was nearly 0. 8% improvement in rent, signifying some demand. Due to weak demand, a [...] Continue Reading »
The real estate in Pune has shown signs of balance. According to a survey done by Jones Lang LeSalle (JLL), it was found that in last one month, leasing office space in Pune has been stable and there were no new supply of office spaces. Even the rents and capital value remained the same. Surprisingly, [...] Continue Reading »
In order to crackdown sloppy work, a policy has been issued by Brihanmumbai Municipal Corporation (BMC) which states that maximum period of redevelopment of property should be four years and levying penalties on developers who cross deadlines. Already over Rs 90 penalties are issued on sub-engineers of road department for not filling up the pot [...] Continue Reading »
Due to a software problem, Brihanmumbai Municipal Corporation‘s (BMC) plan to send out property tax bills by September has been delayed. The property tax bills are likely to be delivered to citizens in November. The BMC has demanded the software developer to hand over the software by October 15. Once the software is acquired, there [...] Continue Reading »
Kochi is seeing spurt in the real estate sector, owing to IT developments. The city has seen launch of new residential, IT, retail, commercial and infrastructure projects over the last few quarters. The residential values of prime localities witnessed a 12-15 per cent hike in values, while rental recorded a growth of up to 25 [...] Continue Reading »
Mumbai property owners will not only be getting a final property tax bill, but also a special notice reflecting the property’s capital value in September. The area of the building for which property tax being charged, the new tax calculated, the old tax rate, method of the new capital value-based tax are mentioned in the [...] Continue Reading »
Under the newly implemented capital value-based system that was approved last month, owners of buildings in Mumbai, which have come up after 2010 will have to pay property tax arrears from April 2010 in this financial year. For older buildings also the final bill will be adjusted to reflect the outstanding or refund amount calculated [...] Continue Reading »
The proposal to assess property tax based on capital value of the structures in Thane has been contested in the Bombay high court by citizens organization here. Municipal commissioner RA Rajeev has proposed that all residential, commercial or industrial property would be assessed on the basis of its capital value or market value as listed in [...] Continue Reading »
