Commercial properties
With the promise of paying rent, two Mumbai-based builders are promoting some of their under-construction residential properties named as Nirmal Lifestyle and Rustomjee.If the construction of its project is delayed beyond December 2017, Nirmal Lifestyle promises to pay the rent while Rustomjee will pay the rent during the construction period. Such promises were so far [...] Continue Reading »
Patiala- The unit evaluation committee of Patiala Municipal Corporation (MC) has fixed the unit values of the properties per square metre according to five categories defined by the Punjab government. The property tax calculation will be done based on several parameters such as usage factor, type factor, structural factor, occupancy factor and most importantly, the [...] Continue Reading »
Ludhiana- Ludhiana Municipal Corporation is set to levy property tax on the residential properties of Ludhiana starting from November 15, 2012, as announced earlier. A formal notification had been issued on November 15, 2012 which stated that property tax would be levied from the same date onwards on all the properties. In case of commercial [...] Continue Reading »
The Bruhat Bangalore Mahanagara Palike (BBMP) is thinking of a new game plan to collect more property tax. After a detailed study of commercial properties now the civic body is focusing on domestic properties. A senior official, said that BBMP was planning to use the khata and electoral details to collect more property tax. Many [...] Continue Reading »
Recently, the decision that had been taken to hike Pune property tax by 8 percent has been postponed by the standing committee of Pune Municipal Corporation (PMC). Baburao Chandere, chairman of the standing committee of PMC has stated that still more discussions and a special meeting are needed to come up with a plan. The [...] Continue Reading »
The civic administration of Pune has made a proposal to increase the property tax by 8 percent for the financial year 2013-2014 by pushing up the general tax structure. The rate of taxes are finalised every year by the civic body, as per section 99 of the Bombay Provincial Municipal Corporation (BPMC) Act, 1949, and places the [...] Continue Reading »
Delhi- NCR : Finance Ministry has asked Reserve Bank of India (RBI) to relax the provisional norms depending on the infrastructure of the buildings. This will help the banks to lend attractive home loans to the buyers. The rule is that all the banks have to keep aside an amount equal to the one percent [...] 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 »
New Delhi- A report by the civic body stated that there were 1470 cellphone towers, of which 588 are illegal in East Delhi. Owing to this, the Corporation officials held a meeting and decided to seal about 70 illegal cellphone towers by the end of this month. This decision might hit the cellular services in East Delhi [...] Continue Reading »
The Delhi-NCR commercial realty market is currently driven by small office spaces measuring an area of 500-2000 sq ft. Reports show that there has been a gradual increase in the office spaces measuring about 10,000 sq ft in the last few years followed by a maximum demand for commercial properties measuring about 500-2000 sq ft. According to Rajat Gupta, Executive Director, [...] Continue Reading »
