Property developers
Delay in delivering flats in high rises on time has led to purchasers occupying their homes before receiving their occupancy certificates that are obtained for the projects by the builders. Property developers are supposed to obtain occupancy certificates from the nearest gram panchayat or municipality in whose area the property is located. Delay in completion [...] Continue Reading »
The Indian property market went through a bull run in the last decade, with prices in most major cities sky-rocketing. However, fortunes of the country’s largest property developer DLF have been less than spectacular over this period. The company’s share price, which crossed Rs 1,000 per share in early 2008, trades at around Rs 175 [...] Continue Reading »
The slump in the real estate sector in the last few years had hit the property developers very badly and now they are taking measures to raise funds by selling bonds backed by rental income from shopping malls and offices they own to institutional and high net-worth investors. These funds are raised by many developers [...] Continue Reading »
As per realty experts, for property developers as well as other allied services providers senior citizen are emerging as a new customer segment for creating a proper assisted living environment for them. According to a report by property consultant Jones Lang LaSalle, senior citizens are now being looked at as a potential real estate market [...] Continue Reading »
In 2013, the real estate sector is to witness transformation. Real estate (Regulation and Development) Bill which was pending since 2009 is expected to come up in the budget session of parliament in February. The Bill will empower consumers and enforce discipline among property developers and it proposes to set up an industry regulator along the lines [...] Continue Reading »
A report by PricewaterhouseCoopers and Urban Land Institute stated that cities like Mumbai, Bangalore and Delhi have seen less desire by international bodies in real estate sector for investment purpose. In 2012, Mumbai, Bangalore and Delhi were in 10th, 15th and 12th rank in the report Emerging Trends in Real Estate Asia Pacific which has [...] Continue Reading »
After the demise of Shiv Sena chief Bal Thackeray, specualtions are high regarding the control of Shiv Sena over Brihanmumbai Municipal Corporation (BMC). BMC is perceived as a mini-government within Maharashtra state and it directly controls one of the World’s most costliest properties in greater Mumbai. Developers since the past few years have been relying [...] Continue Reading »
Announcing an all out war on corruption, Confederation of Real Estate Developers Association of India (CREDAI) , the apex body of property developers, has asked its about 10,000 members not to pay bribe to officials for getting project clearance. The strong statement came after CREDAI president Lalit Kumar Jain stated that realty sector has been [...] Continue Reading »
Maharashtra finance minister has indicated that the state government will provide a waiver on 15 per cent interest as penalty on value-added tax (VAT) levied on property transactions between 2006 and 2010. The news comes as a relief for the property developers and buyers. The government further clarified that VAT will be levied only on [...] Continue Reading »
DLF, India’s biggest property developer, is closer to meeting its debt reduction target after it agreed to sell its plot of land in Mumbai for Rs 27 billion ($488 million) to Lodha Developers. The Delhi-based developer said it had received an advance payment of Rs 5 billion for the plot from Lodha and would receive [...] Continue Reading »
