Latest Realty News

Developers-to-Deposit-70%-of-Project-Cost-in-Separate-Account
Dec 10, 2015
New Delhi: The government on Wednesday reached out to the Opposition including the Congress by agreeing to incorporate in the Real Estate (Regulation and Development) Bill 2015, a provision requiring real estate developers to deposit 70 per cent of the project cost in a separate escrow account.
AG seeks action taken report in land allotment cases
Jan 09, 2015
Bhubaneswar: The Accountant General (AG) of India has sought action taken report from the state government on the irregular land allotment cases
Govt bought pvt forest, sold it to real estate cartel, says PAC
Sep 30, 2014
The public accounts committee (PAC) of the Goa state legislative assembly 2013-14, has alleged a prima facie fraud in the disposal of six hectares of land
Land hurdle for BMC office
Sep 24, 2014
The municipal corporation’s plan to build a multi-storeyed office complex at Madhusudan Nagar has hit a hurdle with the office of the accountant general (AG) claiming that the 1.95 acre land had earlier been allotted to them
BDA flouts building norms: Audit
Sep 13, 2014
The Bhubaneswar Development Authority (BDA) flouted its own building norms and showed undue favours to developers for construction of eight high-rises in the city, a latest draft audit note by accountant general (general and social sector) said
Budget 2014: 5 changes to improve housing and real estate sector
Jul 07, 2014
DELHI: The real estate sector has been the backbone of the Indian economy and has been a major contributor in the economic growth. The approach followed by real estate players have been instrumental in changing the face of the country, from being under-developed to accelerating its way to a developed country. The sector contributes about 6.3 percent to the nation's GDP (2012-13) is a major source of revenue for Central, state and local governments and provides employment to more than 50 million
Institute of chartered accountants of India to hold conference on real estate income tax and service...
Feb 28, 2014
INDORE: The Institute of chartered accountants of India is organising a one day conference here on March 1.
Sofitel eyes 10 properties in India in couple of years
Oct 10, 2013
MUMBAI: Sofitel, a French luxury hotel chain managed by Accor Group, is eyeing 10 properties in India, mainly in prime luxury destinations, in a couple of years, a top company executive said.
5,000 Govt residences to be built in Delhi
Aug 04, 2013
DELHI: In an effort to meet the shortage of accommodation for government officers, the Centre is working on building over 5,000 houses as part of a 240 acre residential project in Ghitorni in south-west Delhi.
Government welcomes the RBI Policy statement: CEA
Jul 31, 2013
MUMBAI: The Reserve Bank of India (RBI) came out with its policy statement on Tuesday. The RBI left policy rates on hold. Dr Raghuram Rajan, Chief Economic Adviser (CEA), Ministry of Finance said that RBI policy saw the main immediate macroeconomic task as that of stabilizing the rupee, and believes that once the rupee is stabilized, the policy makers will have room for more growth friendly measures.
RBI keeps rates unchanged, developers disappointed
Jul 31, 2013
MUMBAI: The RBI’s decision to keep the key rates unchanged is letting the entire industry, in general, and housing industry, in particular, down considering the slowdown in the economy and the low investor sentiment in the real estate market. The repo rate or the rate at which RBI lends to the system, has been retained at 7.25 per cent and the cash reserve ratio, the amount of deposits banks park with RBI, has been kept unchanged at 4 per cent. Industry experts and developers expressed disappoin
Housing scam row hits Bhubaneswar Development Authority
Jul 19, 2012
BHUBANESWAR: The functioning of the Bhubaneswar Development Authority (BDA) has come under the scanner with the Accountant General (AG) of Odisha stumbling upon alleged misappropriation of funds in the allotment of houses and approval of building plans between 2008 and 2011. Going by the audit report, a copy of which is with TOI, alleged financial irregularities to the tune of Rs 11.60 lakh an

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