Real estate in India
The Delhi Development Authority (DDA) will take over the entire Games Village Complex. The flats will be ultimately put up for sale some time early next year. According to DDA officials, the process of taking over will involve a complete inspection of every flat in the Village after the organizing committee (OC) has removed the [...] Continue Reading »
The sales tax department has threatened to take action against many builders after having come across several cases of tax evasion. The Builders have already collected Tax on under-construction property from the property buyers. But only a few have deposited it. Construction projects in the city and the state are once again under the scanner. [...] Continue Reading »
The Maharashtra Chamber of Housing Industry (MCHI), the apex body of real estate business in the state, has directed all its members not to book flats without receiving the commencement certificate (CC) from the authorities. This move will ensure that people buy flats only in approved projects. With a view to curb unethical practices, MCHI [...] Continue Reading »
Akrama-Sakrama scheme that is expected to give a clean chit to nearly four lakh properties in the state by way of regularization has been sent back for clarifications. This is the second time the bill is being sent back from the Governor’s office in the last two months. Bhardwaj is the third governor to have [...] Continue Reading »
According to source, property buyers and real estate investors in India prefer ready to move apartment than preferring to invest in projects where builders deliver project at a six to seven months past the promised delivery date. Financiers are going for projects under construction whereas end users are only headed for either ready-to-move-in or 80% [...] Continue Reading »
Property buyers in Gurgaon and Faridabad may have to fork out an extra ‘charge’ with Haryana deciding to levy an infrastructure augmentation charge on developers.The state assembly passed the Haryana Development and Regulation of Urban Areas (Amendment) Bill, 2010 on Tuesday.The amendment enables private developers to get full and partial completion certificates for projects. The [...] Continue Reading »
BBMP has issued notices has issued notices threatening to cancel the khatas (equivalent to title deeds) of 307 of the 650 land owners in the scenic 58-acre BHEL House Building Co-operative Society layout in Rajarajeshwari Nagar. For the last 35 years, Ranjini Harish, now a retired BHEL officer, saved every penny to build a two-storeyed [...] Continue Reading »
As the city spread and grew out of the central business district (CBD), many homeowners are renting out their residences to retailers as there is a huge demand for commercial property around residential areas. According to a survey, a mere 4-5 million sqft of ready retail space is currently available for retailers in the country. [...] Continue Reading »
Kukatpally is a major residential and commercial suburb in Hyderabad. Low rents attracts city techies to Kukatpally. The rent difference is largely rooted in the excess supply of new constructions in these areas and poor demand among buyers. Newly-constructed apartments in Kukatpally, and even Towli Chowki for that matter, are being let out at rock [...] Continue Reading »
BBMP is going tech savvy and introduce an automated building plan approval system. The Bruhat Bangalore Mahanagara Palike (BBMP) in its budget, has proposed to introduce an automated building plan approval system that would curtail the time in obtaining plan approvals. The proposal is expected to serve two purposes firstly – avoid delay and enable [...] Continue Reading »
