Kolkata
The news in the real estate market in Bhubaneshwar is, the East India Hotels, flagship company The Oberoi Group has sold its 100-year-old hotel property in Orissa to Mayfair Hotels and Resorts, a local hospitality company was owned by the former cabinet minister and industrialist Dilip Ray for the sum of Rs. 10 crores. The [...] Continue Reading »
In Kolkata, Mumbai and New Delhi flats are yet to be constructed with the best of best luxuries in them. In Gurgaon, developer M3M has recently launched homes based around the sport of Polo. Here, the developer has tied up with Polo player Adhiraj Singh, who runs Equisport Management, to offer Polo training and horse [...] Continue Reading »
Political and revenue tough decisions have been changed frequently resulting in the high rise in water tax in Kolkata. Mamta Banerjee has been around handling issues against water tax since the time Subrata Mukherjee was a mayor in the year 2000. The fact lies on the other side that Kolkata Municipal Corporation has been secretly [...] Continue Reading »
Kolkata Municipal Corporation (KMC) is ahead in giving a new look to its city. All the roads now have median strips dividing the lanes, beautified with colorful saplings. Decorating these medians has been the biggest city beautification drive by the prevailing KMC board. After a success in the pilot project, there are now plans to [...] Continue Reading »
Kolkata High Court admits that a plot in the Bow Street was sold twice has been entangled with legal issues. On Wednesday the, High Court admitted a petition seeking revaluation of this plot in the Bow Street also mentioned that it has directed the petitioner to serve legal notices to both the owners of that [...] 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 »
Tata Motors Limited (TML) had taken on lease 600 acres of land of Singur acquired for the Nano car project, but shifted to Sanand in Gujarat in October 2008. Calcutta High Court on Thursday told that the establishment need not give notice for taking possession of the disputed land. Counsel for the state Saktinath Mukherjee [...] Continue Reading »
Demand for property in major cities across the country have dipped and sharp increase in borrowing costs had kept buyers on the sidelines. Banks have raised their lending rates sharply in the past few months after Reserve Bank of India (RBI) raised interest rates 11 times since March 2010. Bhopal leads the pack in rise [...] Continue Reading »
Prices of new residential property could fall 10-15% by Diwali. But leading builders say supply has to increase for prices to come down. The RBI’s rate tightening has resulted in developers not having funds to complete projects, and hence the supply will remain in check while demand is still intact. A 10% price correction is [...] Continue Reading »
Allegations of irregularities have poured in about the allotments done by Housing Infrastructure and Development Corporation (Hidco) three months ago. Questions were also raised about the presence of any political aim behind the allotment of so many residential and non residential plots, including those under the chairman’s quota, just a day before the election schedule [...] Continue Reading »
