Real Estate Developers
The residential property market in Bangalore saw an absorption of 4,645 units during third quarter against 4,290 units in second quarter. The increase in demand was due to the home buyers shifting towards purchasing a property rather than paying high rents and also due to the improved sales in projects that are about to get [...] Continue Reading »
Real estate developers face many challenges to get approvals from the authority which in turn lead to delay in construction work and possession. The government is planning to set up fast track approvals for real estate projects where they will post all the approved projects online to minimize delay in possession. It will be easy for consumers [...] Continue Reading »
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 »
New Delhi- In a recent declaration by the Union Cabinet, the much expected Land acquisition Bill, 2012 was cleared and will be presented in parliament for the upcoming Budget session. This has eventually created a furor among the real estate developers as they wanted private-to-private land acquisition be off the new land acquisition bill. The developers [...] Continue Reading »
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 »
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 »
Parsvnath Developers Ltd, one of India’s leading real estate developers, has planned to raise fund of Rs 360 crore through a non-convertible debenture issue (NCD). In 2010, the developer had purchased a land parcel in a prime location in the national capital. It had then paid Rs 1,651 crore for the deal, which was a [...] Continue Reading »
The Bruhat Bengaluru Mahanagara Palike (BBMP) has marked 600 acres of land near Togarighatta village in Koratagere taluk of Tumkur district in order to dump garbage. A private developer has proposed to build a garbage processing unit in Togarighatta for which both the State Pollution Control Board and BBMP have given the green signal. The [...] Continue Reading »
The year 2012 was tough for the Indian real estate sector because of the economic condition and higher construction costs. But 2013 is expected to see an improvement in economic climate and the real estate sector. Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India, a real estate consultancy, said that the Indian real [...] Continue Reading »
After the huge success of the development of luxury apartments in Burj Khalifa in Dubai, Italian fashion designer Giorgio Armani is eying Indian luxury real estate. Earlier, Armani had tied up with Lodha group, the Mumbai based real estate developer and now he is planning to collaborate with Noida based Supertech to build Armani Tower. The Armani [...] Continue Reading »
