Latest Realty News

Delhi-NCR builders add value to lure end-users
Mar 11, 2014
DELHI: Realising the rise in purchasing power of the middle class youth and their additional demands, the Delhi-NCR based developers have started to coin new ideas for the value-addition like swimming pools, spas, landscape gardens, golf courses etc around the residential units inside the township they are offering.
Builders under scanner for over Rs 20-crore service tax evasion
Mar 02, 2014
DELHI: Two real estate firms in Noida have come under the scanner of central excise department officials for allegedly evading service tax of over Rs 20 crore.
Rs 55.22 lakh fines on builders
Feb 20, 2014
AHMEDABAD: The estate department of AMC has issued notices in 34 cases and slapped fine to the tune of Rs 55,20,000 to builders and developers for violating various norms in their projects.
Realtors seek tax breaks for home buyers, builders to beat sluggish demand
Feb 11, 2014
DELHI: To beat a sluggish demand, real estate developers have sought tax breaks for home buyers and builders that could help boost sales as well as speed up new launches.
Flat owners can apply for occupancy certificate
Feb 07, 2014
PUNE: Individual flat owners in the city can directly approach the Pune Municipal Corporation for occupancy certificates (OC). There are around six lakh residential properties and 75,000 non-residential properties in the city and the civic body claims many of these identified and assessed properties have not obtained OCs.
Cooperation housing societies get time till December-end for deemed conveyance
Feb 05, 2014
MUMBAI: The Maharashtra government has extended till December-end a special drive to issue deemed conveyance (DC) to eligible housing societies in the state, following a poor response due to apathy from housing societies, the primary stakeholders and numerous government approvals.
Kalyan builder penalized Rs 3 lakh for delaying flat possession
Jan 27, 2014
THANE: The Thane district consumer redressal forum recently directed a builder in Kalyan to pay a compensation of Rs 3 lakh to a Kalyan resident for not giving possession of a flat she had booked in 2007 though he had received Rs 16.40 lakh, which is 85% of the total flat cost of Rs 19 lakh. The forum further directed the builder, Pushkaraj Builders and Developers to give possession of the 850 sq ft flat within 30 days, failing which they will have to pay penal charges of Rs 1,000 per day of the
Good interest for developing SEZ, non-SEZ areas in GIFT city
Jan 12, 2014
AHMEDABAD: Gujarat International Finance Tec-city (GIFT) today said national and international developers have shown interest for development of commercial and residential buildings in the GIFT city.
HNIs bail out realtors, but for high returns
Jan 01, 2014
BANGALORE/NEW DELHI: Some ultra-rich Indians have found a new way to bypass the economic slowdown and make mega returns on their investment. According to analysts and industry players, real-estate developers across the country are being bailed out by high net worth individuals (HNIs) by offering short-term loans to meet developers' funding requirements to finish ongoing projects.
'Builder' held for duping people of crores
Dec 23, 2013
DELHI: Passing himself as a builder and a financial advisor, a 60-year-old man, who used his persuasive skills to cheat hundreds of people to the tune of Rs 200 crore, has been arrested here, police said on Sunday.
Impact of Election 2014: Realty sector struggles with labor shortages
Dec 14, 2013
BANGALORE/MUMBAI: The general election of 2014 is expected to exacerbate the labour shortage in the housing sector, putting more stress on builders and delaying further the delivery of nearly 1 million homes across the country, as lakhs of workers head back to villages and towns to exercise their franchise.
Blanket ban on extraction of ground water in Noida impractical
Dec 14, 2013
DELHI: The complete ban on extraction of ground water, especially in Noida-Greater Noida regions by the National Green Tribunal (NGT) has come as a major impediment for construction firms.
Flat buyers spared service tax on maintenance fee
Dec 10, 2013
MUMBAI: Home buyers have something to look forward to in an otherwise dull property market. The customs, excise and service tax appellate tribunal recently held that they will no longer have to pay service tax on the one-time maintenance charge (deposit) paid to builders at the time of booking a flat.
Builder in the dock for harassment
Dec 06, 2013
GURGAON: The district administration has initiated proceedings against a builder for harassing a flat owner who had complained to the grievances panel last week.
Sun-Apollo, Rustomjee Builders reach out of court settlement
Nov 21, 2013
MUMBAI: Sun-Apollo India Real Estate Fund and Rustomjee Builders, locked in a court battle over a financial dispute, have reached an out-of-court settlement under which the private equity player exited in the realty firm for an undisclosed sum.
Builders' details to be uploaded on government websites
Nov 20, 2013
NOIDA: In a move that will aid buyers in choosing legally sound projects, the Noida, Greater Noida and Yamuna authorities are planning to upload details of all builders constructing housing projects on their official websites. The decision was taken after Uttar Pradesh chief minister Akhilesh Yadav directed the authorities to ensure protection for buyers and design a route to evade property-related cheatings.
Builders eye the rich, bank on penthouses
Nov 12, 2013
BHUBANESWAR: At a time when the majority of builders in the city are concentrating on creation of low cost houses to overcome the sluggish market, some prominent ones are coming up with luxury penthouses with price tag of above Rs 1 crore.
Harsh realty for builders as banks tighten lending rules
Nov 11, 2013
DELHI: The real estate sector, accounting for the maximum number of new projects — 53 of 173, each above Rs 250 crore, in April-September this fiscal — is facing difficulties in achieving financial closure for these projects.
‘BDA, BMC responsible for city waterlogging’
Oct 28, 2013
BHUBANESWAR: Kalinga Sena supremo Hemant Rath on Sunday alleged that the waterlogging in the capital city caused due to the torrential downpours for five consecutive days is ‘manmade’ and the Bhubaneswar Development Authority (BDA) and the Bhubaneswar Municipal Corporation (BMC) are highly responsible for the problem.
Income Tax department surveys on jewellers and builders
Oct 26, 2013
AHMEDABAD: The Income Tax department on Thursday carried out surveys at offices and shops of bullion traders, jewelers, builder and car accessories sellers in the city.
Homebuyers log on to Facebook, Twitter to voice their complaints against builders
Oct 15, 2013
MUMBAI: Call it Realty Spring. Homebuyers in the country are taking to Facebook and Twitter to deal with errant builders in issues ranging from delay in possession to mismanagement, to good effect.
Man duped of Rs 82 lakh in land deal
Oct 05, 2013
DELHI: The Sadar police have booked a builder and its five employees for allegedly duping a property buyer of Rs 82 lakh. The case has been registered on the direction of a city court. Mewa Singh, a resident of Sector 47, filed a petition in a local court and had alleged that the builder offered him a plot in Sector 62 for Rs 40,000 per sq.yd
Developers will have to pay 5% VAT, rules Supreme Court
Sep 27, 2013
MUMBAI: In a major setback to realty developers , the Supreme Court has upheld the earlier Bombay High Court verdict that asked builders to pay 5% value-added tax for sale of underconstruction houses between 2006 and 2010 in Maharashtra.
Squatters on agricultural lands in for trouble
Sep 25, 2013
BHUBANESWAR: In a blow to land sharks, the state government has decided to turn the heat on people, who purchased large patches of agricultural lands for commercial purpose and kept them vacant for years, eyeing hefty returns from sale of the lands in future.
Earlier released builder again held
Sep 24, 2013
BHUBANESWAR: The Saheed Nagar police on Monday arrested Simax Builder Private Limited managing director Nirmal Kumar Behera (42) on the charge of duping a customer of `5 lakh in fraudulent land deals.

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