Central government
There was no time-limit set for the implementation and approvals of the real estate bill 2012 by the central government. Just to smoothen the urban construction, protect consumer interest and to have a healthy real estate developments of apartments and unauthorized colonies, the bill was prepared in consultation with all stakeholders. The Parliament has not received necessary approvals [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) will now make sure that if residents face any issues regarding property tax, they can go to their local ward office whenever they receive the property tax bill. Estimating the particular dilemma that the new capital value based on property tax system can give rise among the citizens, the civic [...] Continue Reading »
Recently, the Pune Municipal Corporation (PMC) alloted 112 flats to be constructed under the Basic Services to Urban Poor (BSUP) project in Warje to those affected by road construction and nullahs. The central government had approved 20,528 tenements for the urban poor under the BSUP. However, PMC managed to construct 2,294 only and 3,474 that [...] Continue Reading »
A huge sum of about Rs. 1,255 crore has been sanctioned to spend on the road infrastructure/roads and buildings (R&B) sector by the state government. This decision was made under various Central government and state-sponsored schemes and district plans this year. As per the reports, the sum amount allotted for the development and construction comes around Rs 754.11 [...] Continue Reading »
The Land Acquisition Bill is to face further delay in way of its legislation. A group of ministers (GoM) had been set up to resolve differences over the proposed bill. However, they have failed to reach a consensus in their second meeting. GoM, headed by agriculture minister Sharad Pawar, remained divided over several contentious issues, [...] Continue Reading »
Developers in Maharashtra seem to be apprehensive of the regulatory measures proposed by the state and central government. As the developers already have disclosed their presentiment about the state government’s housing regulatory bill, the presentiment deepens as the centre is now set to introduce its own regulatory authority for the real estate sector. Maharashtra Chamber [...] Continue Reading »
Being hit by increased land rates, lack of funds and high interest rates, the real estate sector of India has again been demanding for industry status. Despite the fact that 10 per cent GDP is contributed by realty sector which is the second largest employment provider of the nation, the central government is not giving [...] Continue Reading »
The Greater Hyderabad Municipal Corporation (GHMC) has been looking for aid from corporate world to groom the city for the International Biodiversity Conference to be held in October. The Central Government’s refusal for support has paved way to this act of GHMC. Many leading companies including L & T, Nagarjuna Constructions, State Bank of India [...] Continue Reading »
The central government is finally planning to introduce the Real Estate Regulation and Development Bill. According to an official, housing ministry has drafted the bill and hoping to place the bill in the current session of the parliament. This will bring good news to the home buyers of the country in terms of transparency and [...] Continue Reading »
The Pune Municipal Corporation (PMC) has recovered the highest property tax ever Rs94 crore for this fiscal year. The city civic body had property tax dues worth Rs428 crore from 40,000 owners. The property tax defaulters include central and state government establishments, religious places, individual property owners and educational institutes. Midst these the residential and [...] Continue Reading »
