Realty News
In January, the I-T department had raided about 20 premises of Lodha Group in Mumbai and Hyderabad on alleged misreporting of income. While examining the documents found at these premises, I-T officials came across details of bank lockers in the name of some of the company’s employees. When these lockers, in all 26, were raided, [...] Continue Reading »
In the next five years, the housing boom will reach the smaller urban centres to target new segments of customers, says realty finance expert and author Sitaraman. “The real estate sector will go to the tier 4, 5, 6, 7 cities – the small towns – in the next five years. The industry intends to [...] Continue Reading »
Sayaji Pune is planning to expand its operations with a sports and cultural club, restaurant, mall, convention and conference facilities and serviced apartments. On completion of two years in Pune, Sayaji Hotels is planning to invest Rs 100 crorein the city. “This expansion will be completed by September 2012 with a total investment of Rs100 [...] Continue Reading »
After a one-year period starting in the third quarter of 2009,the Mumbai residential real estate market has been seeing a slowdown. The key reasons behind this slowdown are higher prices, higher interest rates impacting affordability, lack of liquidity, scams diluting investor sentiment – and, to a lesser extent, excess supply in a few micro markets. [...] Continue Reading »
RBI introduced a ceiling on “loan to value” (LTV) ratio for home loans. The central bank has said that the loan to value ratio for home loans cannot exceed 80 per cent of the value of a house as housing loan.This in effect means that you will have to shell out more from your own [...] Continue Reading »
The new changes in zonal regulations may restrict TDRs and ancillary use of buildings in residential areas.The use of transfer of development rights (TDR) might be restricted to only large properties along wide roads. These new changes in zonal regulations are subject to government approval to recommendations for the revised Master Plan 2015. If approved, [...] 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 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 »
