Delhi NCR
A majority of ultra High Networth Investors (HNIs) are mandating what are called family offices to help them cherry pick grade ‘A’ commercial properties. Family offices are specialized financial firms managing investments and trusts of wealthy clients. The report, which defines ultra HNHs as having a minimum net worth of Rs 25 crore, estimates that [...] Continue Reading »
With the apex court upholding the judgment of Allahabad High Court and with more land owners joining issue, more instances of land being acquired under the emergency clause of the Land Acquisition Act are coming to light. Builders and consumers, who have been at the receiving end, are already at loggerheads. For about seven years [...] Continue Reading »
Soon, Delhiites will be able to get floor-wise building plans sanctioned from the Municipal Corporation of Delhi (MCD). People will not have to take the permission from other occupants of the building before carrying out any alteration on their floors. The new guidelines include waiving of the condition of ‘No Objection Certificate’ from the owners [...] Continue Reading »
Tis Hazari civil court in Delhi directed a resident of AP-Block, Maurya Enclave in Pitampura, to pay Rs.3,900 to the AP-Block RWA. Observing that the RWA would not be able to discharge its welfare activities if occupants stopped paying the monthly subscription, the judge said that the defendant had not produced any evidence to prove [...] Continue Reading »
The cover of PAN has been gradually extended by the Income Tax Department. The move is expected to help the tax department track high value transactions. The Finance Ministry has stated that any individual who makes a transaction of Rs 25 lakhs and more, and fails to quote the PAN, will receive summons by the [...] Continue Reading »
International Finance Corporation (IFC) is strengthening its affordable housing team in India. Senior investment and property development managers and green specialist from its global office are expected to join the Indian arm by August. The low-cost housing initiative is currently headed by Subrata Dutta Gupta who was earlier involved in IFC’s housing finance business. It [...] Continue Reading »
The Centre is likely to introduce real estate regulation bill in the monsoon session. The Real Estate (Regulation and Development) Bill 2011, prepared by the Housing and Poverty Alleviation (HUPA) Ministry intends to promote planned development of real estate and protection of public interest among others. The Centre is likely to introduce the bill in [...] Continue Reading »
National Housing Bank (NHB) has taken 2007 realty as a benchmark of the Residex pegged at 100. The figures show how Ahmedabad along with five others cities – Mumbai , Delhi, Chennai, Lucknow and Pune – have bucked the trend of falling prices. Residex (residential index) figures for city areas reveal that the road expansion [...] Continue Reading »
“Noida as well as Greater Noida offer a wide range of affordable housing, so the demand cannot go down for such units. At present, there is confusion in the minds of buyers because of the SC order. This should settle down in the next fortnight,” said Getamber Anand, vice-president CREDAI. However, while many property agents [...] Continue Reading »
In two separate incidents, Noida residents had their cars stolen from the sector 18 parking. Moreover, the parking attendants had no clue about what had happened to the vehicles. In the first incident, Govind Singh, a senior official in electricity department and resident of sector 20 went to sector 18 market along with his family [...] Continue Reading »
