Rent
With the promise of paying rent, two Mumbai-based builders are promoting some of their under-construction residential properties named as Nirmal Lifestyle and Rustomjee.If the construction of its project is delayed beyond December 2017, Nirmal Lifestyle promises to pay the rent while Rustomjee will pay the rent during the construction period. Such promises were so far [...] Continue Reading »
South Delhi Municipal Corporation (SDMC) has attached rent of 50 properties in Omaxe Square – an office centre in South Delhi. The 50 properties of different owners on second floor of Omaxe Square have been rented out to Wipro. The officials said 50 property owners collectively owe Rs 19,14,616 to the corporation. The property tax [...] Continue Reading »
In the ongoing tussle, the Bombay high court has settled a long-pending property tax row in favour of the Brihanmumbai Municipal Corporation (BMC). The court ruled that the civic body can fix property tax on the building based on the actual rent charged. The verdict is the latest in the saga of tax tussle between [...] Continue Reading »
Real estate continues to remain top option for Indian investors. Capital appreciation, rent and protection from inflation drive real estate investment and citizens go for second property for all these advantages. A recently conducted survey in Delhi/NCR, Mumbai, Bangalore, Hyderabad, Chennai, Ahmedabad, Kolkata, Pune, Chandigarh, Kochi, Coimbatore and Jaipur shows that out of 1,430 respondents, [...] Continue Reading »
Brick Eagle Capital Group is the latest to enter the low cost housing sector. It plans to invest Rs. 200 Crore in five projects of Xrbia Developers Limited. Xrbia is an affordable housing venture promoted by the Eiffel group. The proposed five projects will come up in the area of Karjat, near Mumbai, on 150 [...] Continue Reading »
The Supreme Court has put stay on a July 23 Haryana High Court ruling, providing temporary relief to TC Gupta, director general of the town and country planning department in Gurgaon. Gupta was found guilty of allowing residential complexes in Gurgaon by issuing license to Anant Raj Industries for construction of housing colonies, despite the [...] Continue Reading »
It has been a happy time for those hunting for a house in Bhubaneswar. Tenants are left with multiple options to choose from. The rental market in Bhubaneswar has become tenant friendly. There are many houses with ‘to let’ signs in and around IRC Village, Nayapalli, Neeladri Vihar, GGP Colony, areas to south of Khandagiri [...] Continue Reading »
With the proposed rise in the stamp duty for leave and license agreement in Maharashtra, the cost of rented apartments in Mumbai will increase. The government has increased the rate of stamp duty from 0.1 % to 1% for the current financial year. According to the real estate analyst, this decision will impact the rental [...] Continue Reading »
BPTP, a renowned real estate developer has bought Merrill Lynch’s stake in its Gurgaon property. The developer buys 49% of Merrill Lynch stake in the Gurgaon Crest office complex for Rs 180 crore. In 2007, Merrill Lynch had invested Rs 100 crore in the project. Even BPTP has its own office in the same complex. [...] Continue Reading »
A fixed annual property tax rate for residential properties has been fixed by Greater Hyderabad Municipal Corporation (GHMC). GHMC came to this conclusion soon after holding discussions with the stakeholders. It has been learnt that in most of the situations the house owners are claiming to be residing in their properties despite of giving it [...] Continue Reading »
