Latest Realty News

Cumulative impact of increase in ready reckoner rates in Maharashtra
Jan 30, 2014
MUMBAI: The Maharashtra state government hiked the Ready Reckoner valuations of immovable properties in Mumbai, substantially for 2014, though property prices have not grown as much. How does this affect the common house purchaser or house seller?
Wind power project: Panel clears urban poor housing proposal
Jan 27, 2014
SURAT: At a time when Surat Municipal Corporation's(SMC) own electricity bill is likely to cross Rs 100 crore per anum , the ruling class of the city has decided to deliberate and discuss , the proposal of setting up a Rs 47 crore windpower plant to generate own power.
Now, PCMC tax defaulters to face music
Jan 27, 2014
PUNE: After Pune, it is now the turn of the property tax defaulters in Pimpri Chinchwad to face the music, literally. The Pimpri Chinchwad Municipal Corporation will start sending brass bands to play music in front of the defaulters’ houses from January 27 onwards till March 31.
Property tax hike feared
Jan 09, 2014
AHMEDABAD: The municipal budget for 2014-15 will just cross the Rs 6,000-crore mark this year, said some senior AMC officials. With no new JNNURM project approvals and the nearly empty coffers of the once cash rich AMC, the civic body would be forced to tighten its purse strings this year.
Posh areas in Kolkata take a realty beating
Dec 24, 2013
KOLKATA: Will the government do anything to tame the rising trend of inflation? Is there anything in the market that I can buy at a reasonable price? Set aside your first question for policymakers at the Centre, but as far as your second query is concerned, we certainly have an answer. You can buy a property at select parts of the city where real estate prices are literally on the wane. Sounds intriguing? Read on.
Affordable housing in India is the need of the hour
Dec 23, 2013
DELHI: The government has set an ambitious agenda to boost affordable housing in the country, including the metro cities and larger towns. But even several years after making its policy intention clear, the segment has lagged behind its potential. The supply of affordable homes has not been able to keep pace with the demand.
Real estate sector needs encouragement: Vyas
Dec 14, 2013
DELHI: Housing and Urban Poverty Alleviation Minister Girija Vyas today said the real estate sector, which is grappling with problems like manpower shortage, should be encouraged to boost the economic growth of the country.
Govt to build cheap houses
Dec 03, 2013
BHUBANESWAR: The state government plans to build 5,300affodable houses at the cost of Rs 5.4 lakh each and make those available to the economically weaker sections (EWS) for Rs 2.69 lakh through three housing projects.
PCMC doubles property tax for illegal buildings
Nov 28, 2013
PUNE: Owners of unauthorized constructions in Pimpri Chinchwad will have to pay double theproperty tax. The civic body will soon start issuing tax bills for 2012-13 and for 2013-14.
Building completion certificate goes online in Kolkata
Nov 28, 2013
KOLKATA: The days of harassment by building department inspectors are over. The completion certificate (CC) process for houses and apartment complexes has gone online.
Hyderabad witnesses consistent rise in valuations
Nov 27, 2013
HYDERABAD: The Hyderabad valuations index rose by 3 per cent in the last quarter. Since values are low, there is an increasing number of people upgrading to premium living which has now come within their budgets. As a result, there is robust demand for luxury properties in the Rs 40-80 lakh category. The in-demand configuration too is 2 and 3-BHK units. The 4-BHK configuration were less in demand and therefore oversupplied.
IT, inclusion in city limits work well for real estate in Valasaravakkam
Nov 27, 2013
CHENNAI: A 1,000-sq ft apartment which was available in Valasaravakkam for around Rs 43 lakh in 2011 today commands approximately Rs 62 lakh. Valasaravakkam, a suburb in South Chennai, has recorded a rise of nearly 43 per cent in capital values of residential properties in the past two years, as per Magicbricks.com research. Let’s take a look at the factors which make this locality click.
Market high on investors wish-list, yet not speculative
Nov 27, 2013
AHMEDABAD: Real estate markets across the country have a uniform pattern of being speculative if the given market is high on the wish list of investors. On the contrary, end-user driven markets are always modest in appreciation but nevertheless, carry genuine appreciation and provide a level playing field to all the stakeholders, including the buyers. However, the property markets of Gujarat, most notably, the cream of the market in Ahmedabad and Vadodara, defy this conventional wisdom of econom
Worli society gets construction area 9 times the plot size
Nov 26, 2013
MUMBAI: The state Coastal Zone Management Authority has cleared floor space index (FSI) of 2.5 for the redevelopment of Worli’s Shivshahi housing society, part of a Mhada layout.
Hyderabad: Waiting for a sense of direction
Nov 26, 2013
HYDERABAD: The health of real estate cannot be different from the health of businesses. The health of business has a lot to do with the sense of a well- governed city, and a population that is positive about the future. “I can’t see enough mature sense of direction in this state separation and its long term impact oh Hyderabad city, there are so may unanswered questions,” confides one of India’s top infrastructure company CEO’s. “People we approach for investment, though very pleased with what w
Upscale Vastrapur still has modest property options
Nov 26, 2013
AHMEDABAD: After having spent seven years in Middle East countries, Rizwan Sheth wants to settle in Ahmedabad and start his own business. He is advised by the property brokers to buy an apartment in Vastrapur. It is a location in Ahmedabad, which is known for the Indian Institute of Management, Ahmedabad from a professional standpoint. For nature lovers, this area is famous for the Vastrapur Lake.
Rental market shows upward trend in Boat Club Road, Pune
Nov 26, 2013
PUNE: The rental values in Boat Club Road have increased by more than 20 per cent in the July-Sept 2013 quarter, as per MagicBricks.com research. “Boat Club Road, along with its neighbourhoods Bundgarden and Dhole Patil Road, is arguably one of the best locations in Pune, in terms of connectivity and up-market feel. There are about 60 per cent investors who are well-off and have spare money to invest. They are reaping high returns today. Several Bollywood celebrities have also invested in proper
2-BHK homes in Panvel or Kamothe?
Nov 26, 2013
MUMBAI: The price at which you get a 1-BHK apartment in Andheri or Ghatkopar, can get you a 2-BHK in localities like Panvel and Kamothe. These suburbs of Navi Mumbai have been witnessing a steady demand for 1 and 2-BHK apartments, owing to their competitive pricing. “A 1-BHK apartment in Panvel and Kamothe, sized between 500 and 700 sq ft, is available for Rs 35-40 lakhs and a 2-BHK apartment of 750-1000 sq ft area, costs anywhere between Rs 80-85 lakhs,” informs Paritosh Bhasulm of PropTiger.
AMC plans 9,959 houses for weaker sections
Nov 26, 2013
AHMEDABAD: The Ahmedabad Municipal Corporation (AMC) has decided to build 9,959 houses for the weaker sections of the city. These houses will be constructed at 29 places in various parts of the city.AMC officials said that of the 9,959, AMC will build 5082 houses for Economic Weaker Sections (EWS) and 4877 houses for Low-Income Group (LIG) segment. These housing schemes will launched in 29 different places including Vejalpur, Nikol, Chandkheda, Chandlodia, Thaltej, Kali, Vadaj, Vastral, Kankaria
Mumbai govt to help acquire land for cluster redevelopment
Nov 25, 2013
MUMBAI: Occupants of unauthorized flats and shops will be legally rehabilitated as part of the state government new cluster redevelopment policy. Critics said this sop is a virtual indictment of the government, which has failed to curb illegal constructions.
Is Mumbai a buyer’s market?
Nov 25, 2013
MUMBAI: Mumbai’s real estate segment has historically been red hot, something that is the aspiration of millions. The island city with less supply and more demand and the ever increasing migration, only meant that even if the market deviated from the conventional wisdom of economics in demand and supply dynamics, it still would be a sellers’ market. The price index, demand-supply gap, inventory and all other indicators collectively lent credence to this school of thought. Moreover, the island ci
Part I: Tax-related aspects of buying and selling real estate
Nov 23, 2013
DELHI: Purchase of residential property is one of the most important and long-term decisions and there are several tax aspects. Here are answers to some Frequently Asked Questions (FAQs) on various tax related aspects of property transactions.
Part II: Tax-related aspects of buying and selling real estate
Nov 23, 2013
DELHI: I am planning to buy a house by raising loans from friends and relatives. Will I be eligible for tax benefit from all sources? Interest payment to friends and relatives can be claimed u/s 24 but only against a certificate received from them. In the absence of the certificate, you would not be eligible for the deduction. The recipient of interest income who issues the certificate is liable to pay tax on the interest income that he receives. As far as the principal payments are concerned
Meerut: Fast becoming a preferred realty hotspot
Nov 23, 2013
DELHI: Of late, all major developers have begun to re-align their positions and enter unexplored territories. Meerut is one of those cities which have now become a preferred destination for numerous reputed developers in the country. This seems to be a wise move as the skyrocketing property prices and space crunch in the metros have made project execution a costly affair. Also the recent developments in terms of connectivity and infrastructure have added advantage in making a choice of place lik
IT, infrastructure drive realty in Bangalore
Nov 22, 2013
BANGALORE: Bangalore, the most positive property market in the country today, posted a whopping 17 percent rise and had a major impact on the National Property Index (NPI) in PropIndex July-September 2013, produced by Magicbricks.com, the leading property portal promoted by the Times Group.

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