Residential properties
If garbage menace and failing infrastructure in the city was not enough, Bruhat Bangalore Mahanagara Palike (BBMP) is all set to give another blow in the form of hike in property tax. It is said that BBMP Standing Committee on Tax and Finance has submitted a proposal to increase unit rates of property tax by [...] Continue Reading »
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 »
Recently, the decision that had been taken to hike Pune property tax by 8 percent has been postponed by the standing committee of Pune Municipal Corporation (PMC). Baburao Chandere, chairman of the standing committee of PMC has stated that still more discussions and a special meeting are needed to come up with a plan. The [...] Continue Reading »
The civic administration of Pune has made a proposal to increase the property tax by 8 percent for the financial year 2013-2014 by pushing up the general tax structure. The rate of taxes are finalised every year by the civic body, as per section 99 of the Bombay Provincial Municipal Corporation (BPMC) Act, 1949, and places the [...] Continue Reading »
Locations like Vasai, Dombivali, Virar are witnessing a slow increase in demand as the demand for affordable housing is shifting to nearby areas like Palghar, Thane. In Palghar, the price of the residential properties ranges from Rs 2,000 to Rs 3,500 per sq ft whereas in Varar, Dombivali and Vasai the price ranges from Rs [...] Continue Reading »
Confederation of Real Estate Developers’ Association of India (CREDAI) has asked its members to clear the inventory of unsold housing stock by reducing the prices. The Finance Minister P Chidambaram has given few suggestions in order to clear the unsold stock which was accepted by the developers too. The members across the country have been [...] Continue Reading »
According to industry sources, Hyderabad has been witnessing an increase in the demand for residential properties, especially smaller sized apartments over the last few months. Projects which are in the stage of possession or are in the process are finding ready buyers with unit sizes ranging from 900-1,000 sq ft which have further led to [...] Continue Reading »
Around 27 shops that have evaded property tax for two years are now under the scanner of Indore Municipal Corporation (IMC). The shops are located at Shagun, one of the commercial buildings in the posh Scheme No 54 area. It was recorded by an assistant revenue officer that 27 shops, sized between 700 to 3,200 [...] Continue Reading »
The Greater Hyderabad Municipal Corporation (GHMC) is planning to double the tax, so the residential property owners have to pay more tax. According to the authorities, property tax of commercial properties in L B Nagar, Uppal, Malkajgiri and Qutubullapur municipal circles may be cut by 15-20%. GHMC is to raise minimum property tax to 80 [...] Continue Reading »
While Powai, the Mumbai suburb along the Central Line, has attained a premium tag with respect to real estate, few localities along the same line are still offering residential properties at affordable prices. Bhandup, Ghatkopar, Vikhroli and Mulund are some of those areas. In Powai, the average price is over Rs 11,000 per sq ft. [...] Continue Reading »
