New Delhi
The Delhi government is to carry out surveys in 895 unauthorised colonies which were regularised last month. The surveys will be carried out to find out the basic infrastructural requirement of the colonies. According to sources, public agencies like PWD and DSIIDC will carry out the surveys following which developmental works will be started in [...] Continue Reading »
Delhi buildings are all set to get more floor area. After Union development minister Kamal Nath declared that development of Delhi would go vertical, the mid-term review of the Master Plan 2021 seems to have put a step forward to realise the vision. Delhi Development Authority (DDA) has invited objections and suggestions for the first [...] Continue Reading »
The Public Works Department (PWD) has thwarted an attempt of Greater Kailash-II Resident Welfare Association (RWA)‘s bid to install a gate on an arterial road. PWD staff knocked down the iron pillars that had been installed on a road which gives access to many other colonies – like Chittaranjan Park to Alaknanda. The PWD has [...] Continue Reading »
In order to bring in more properties under the tax net and to have more clarity in identification of properties, the North Delhi Corporation has drafted a proposal for numbering properties. In an innovative act, the corporation has proposed to issue smart cards based on the property number to facilitate easy payment of tax. The [...] Continue Reading »
The private equity arm of Housing Development Finance Corporation (HDFC), HDFC Property Fund, plans to raise a $500-million real estate off shore fund by the end of 2012. The company is planning to raise the capital in a single close deal and is in talks with sovereign funds, including Government of Singapore Investment Corporation (GIC) [...] Continue Reading »
Gurgaon IT/ITeS and BPO professionals are driving home demand in West Delhi. According to consultancy firm Jones Lang LaSalle (JLL), most potential customers belong to the salary bracket of Rs 12 lakh to Rs 24 lakh per annum. Since infrastructure facilities in Gurgaon still has a long way to go, they are looking to buy [...] Continue Reading »
The traders of Connaught Place in New Delhi have stated that they are facing up to 70 per cent losses in business due to municipality work going on in the area. The traders have asked the New Delhi Municipal Corporation (NDMC) to increase their property tax rebate by 30 per cent. Currently, the traders in [...] Continue Reading »
The number of online taxpayers under the jurisdiction of North Delhi Municipal Corporation has significantly increased this year as compared to last year. According to the North Corporation, 1.83 lakh people have paid property tax online, while 1.41 lakh people deposited tax over the counter in the last eight months. The number of online tax [...] Continue Reading »
Despite a demand contraction of about 15 per cent in the commercial real estate sector, there is little chance that rents of commercial sector will go down. Property consultant Jones Lang La Salle states that Indian real estate prices are unlikely to be corrected. The Indian residential property market has witnessed a definite slowdown in [...] Continue Reading »
According to the CEO of international property consultancy Jones Lang LaSalle, Colin Dyer, foreign investors are looking at investing in Indian real estate market on a selective basis. Foreign investors are looking at infusing capital behind successful investment managers and many are keen on directly investing. However, they are cautious as the real estate sector [...] Continue Reading »
