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Property price in India

Revised ready reckoner rules out black money in Mumbai real estate

Revised ready reckoner rules out black money in Mumbai real estate
With the new ready reckoner (RR) in place by the state government, the black market in real estate sector is going to get dull. The use of black money in real estate transactions will be minimal. As per experts, the revised RR rates are equal to market rates at most of the localities in Mumbai. [...] Continue Reading »

Ready Reckoner rates on BMC website now

Ready Reckoner rates on BMC website now
Brihanmumbai Municipal Corporations (BMC) has finally listened to the citizens’ woes. The civic body has taken steps to make the new property tax system transparent to the public. To start with, Stamp duty Ready Reckoner (SDRR) rates are now displayed on the official website of the civic body. The RR rates form the base value [...] Continue Reading »

Mumbai stamp duty officials admit faulty figures of RR rates

Mumbai stamp duty officials admit faulty figures of RR rates
The stamp duty officials in Mumbai have admitted to the errors about ready reckoner (RR) rates that were announced recently. It was noticed after a national daily published about RR rates being hiked by 1000 % in some parts of Western suburbs in Mumbai. Now, after the correction, the prices have been appropriately hiked from [...] Continue Reading »

Real estate sector to witness little hope in 2013

Real estate sector to witness little hope in 2013
2012 was a challenging year for both the home buyers and developers. Certain issues which the real estate market has witnessed in 2012 may continue this year because Delhi-NCR and Mumbai Metropolitan Region are struggling with less property sales due to unaffordable property prices. He added that the new rules for classification of restructured loans have led [...] Continue Reading »

Ready reckoner rates in Mumbai up by 30%

Ready reckoner rates in Mumbai up by 30%
Maharashtra Government has recently decided to raise ready reckoner (RR) rates in Mumbai by 30%. This is an excess hike compared to last year’s average increase of 12%. The increase in ready reckoner rates is going to affect properties in areas like Prabhadevi, Cuffe Parade and Worli. This increase has been levied from January 1, [...] Continue Reading »

Mumbai govt to hike ready-reckoner rates from January

Mumbai govt to hike ready-reckoner rates from January
Maharashtra Government is planning to increase the ready reckoner from January 1 in Greater Mumbai and rest of state. The rate will be increased by 5 percent in Greater Mumbai and 40 percent in rest of the state. This is done despite the ongoing slow down as the government estimates the increasing number of registration [...] Continue Reading »

Mumbai realty unlikely to witness price correction

Mumbai realty unlikely to witness price correction
Mumbai- HDFC said that there wont be any property price correction in Mumbai as the demand for properties are very strong. The real estate demand in Mumbai has always been high. The only real elements that may likely to reduce the prices are the dramatic advancement in making by-laws, which will allow more high rises [...] Continue Reading »

Home loan market witnesses 19% growth

Home loan market witnesses 19% growth
Despite the downfall in affordability, the Indian home loan market is expected to grow by 17-19 percent in the current fiscal year, according to credit rating agency IRCA. Lower home loan rates, attractive schemes, etc. fuel the home loan market growth in 2012-2013, said IRCA. Because of the high cost of properties in India, tough operating [...] Continue Reading »

Cost of apartments in Mumbai may not reduce

Cost of apartments in Mumbai may not reduce
As the rate of service tax and excise duty has been increased in the budget, the property price in India may not reduce in near future. According to a report, the amendments made by Development Control Regulations (DCR) will increase the project construction costs for builders. The modified rule have revised the calculation of the  [...] Continue Reading »

Property prices in Mumbai is increased

Property prices in Mumbai is increased
It is found that the cost of properties in Mumbai has been increased by 87% in last 4 years. According to the economic survey report, the price of the properties is increased in a range of 43% to 166% throughout India. The report says that the cost of land in Mumbai is increased as the [...] Continue Reading »



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