Properties
Property tax collection in Salt Lake is set to be restarted. The Trinamool led Bidhannagar municipality had started tax collection on March this year after several years but collection again had to be withheld after a section of residents complained of some miscalculations in many of the tax bills dispatched. Many residents started complaining that [...] Continue Reading »
The Nagpur Municipal Corporation (NMC) has now decided to send a leaflet along with the property taxbills, highlighting the insurance scheme it has paid for. Meanwhile, the proposal to pay Rs8.83 lakh to the private agency appointed for the insurance scheme has been approved. Recently it has been highlighted in print media that NMC has [...] Continue Reading »
The South Delhi Municipal Corporation (SDMC) has decided to literally wake up the tax defaulters to make them pay their taxes. The property tax defaulters of South and some parts of West Delhi soon might be surprised to hear drum beats (dhols) outside their homes. Unable to make several property owners pay the tax in [...] Continue Reading »
The data shared by Cushman & Wakefield (C&W) shows that the capital values of residential property in Ahmedabad has been slower than anticipated. Even the posh areas in the city — Satellite, Vastrapur, SG Highway, and Prahlad Nagar — have grown at an mediocre seven per cent in the last 12 months ending June 2012. [...] Continue Reading »
Sobha Developers’ most valued land parcel in the heart of the Bangalore city has finally got a blue print. The Bangalore-based developer’s 2-acre marquee property, located on the Church Street- St Mark’s Road junction has been revealed to be developed into office cum shopping mall. As per declaration, Sobha is developing the property and has [...] Continue Reading »
Property prices in the upmarket residential areas of South Delhi have dropped by 20 per cent. Slowdown in sales is forcing builders to settle for less as they are under pressure to cut inventory. According to analysts, the market is fast becoming a buyers’ market. Of the 368 apartments that have been released into the [...] Continue Reading »
Considering that the intricate self-assessment forms of property tax proves to be difficult ones to fill out for residents, Kochi Corporation is to send out its officials to help residents fill the forms. The welcome move is announced as a wide range of information, including the distance of the building from the thoroughfare, type of [...] Continue Reading »
The property tax in Mysore is likely to go up from 50 per cent to 500 per cent, once the amended Karnataka Municipal Corporations Act comes into force. The amended act paves the way for more revenue generation on the part of the city civic body. Before the amendment, the maximum rate of property tax [...] Continue Reading »
According to real estate research firm Liasis Foras, the period between Q4 2010-11 and Q4 2011-12 was characterised by low volumes and high prices. In the period, the demand for real estate in six major markets of India – Mumbai, Delhi, Kolkata, Chennai, Pune and Bangalore – fell by around 40 per cent on an [...] Continue Reading »
According to a report by Fitch Ratings, the real estate sector in India is to face a negative outlook in the second half (H2) of this year. The grim prediction is mainly due to sluggish demand, high construction costs and liquidity pressures. The sluggish demand is not expected to change over few months as RBI’s [...] Continue Reading »
