Latest Realty News

Music bands in Pune help recover property tax dues
Sep 18, 2013
PUNE: The civic property tax department’s initiative to play music outside defaulters’ properties has yielded Rs 8 crore in the last six days, with many of the defaulters coming forward to pay the dues.
Rush for holiday homes pushes up realty prices
Sep 18, 2013
CHENNAI: The upper-middle class families’ desire to own holiday homes where they can unwind on weekends is driving realty prices up in many hill stations and coastal locales within driving distance from metros. With 8% to 12% appreciation per annum, many holiday home locations in the country are comparable or better off than some of their urban counterparts that are constrained by space limitations, says realty consultant Jones Lang LaSalle (JLL).
Beneficiaries smile ear-to-ear as PM Manmohan Singh gives them key to house
Sep 16, 2013
CHANDIGARH: A beaming Akhtar Ali showed with pride the keys of the one-room tenement that he and his wife had received from Prime Minister Manmohan Singh on Saturday. A resident of a colony in Sector 52, Ali was among the 10 beneficiaries who received the keys Saturday. Several hundred others keenly inspected the houses that they were to be allotted.
Does Vasai-Virar have the potential to become an independent city?
Sep 16, 2013
MUMBAI: With a corporation area of roughly 383 sq km and another 500 sq km of Taluka area, the Vasai-Virar region is being touted to become a city in itself. However, does having a large area alone suffice to convert a region into a self-sufficient city? It takes proper social and physical infrastructure along with well-developed connectivity to render a locality self-sufficient. With the inception of the Vasai-Virar Municipal Corporation (VVMC) in 2012, the Vasai-Virar region holds huge potenti
Bangalore CBD more in demand after metro connectivity
Sep 13, 2013
BANGALORE: The city’s Central Business District (CBD) seems to be at the focal point of commercial activity yet again, post the Metro construction blues. The M G Road and surrounding areas once considered the hub of retail and office space of the city faced competition from the micro-markets that emerged along the Outer Ring Road (ORR) and the IT corridor.
New generation of homebuyers flock Thane for best options
Sep 13, 2013
MUMBAI: Thane was earlier considered as an extended suburb of Mumbai. Now, it has evolved into a self-sustained city in itself. The high levels of demand for housing in Thane have also necessitated vertical development, since Thane will be witnessing serious real estate growth in the coming years.
PCMC to conduct audit of civic buildings
Sep 13, 2013
PUNE: The Pimpri Chinchwad Municipal Corporation (PCMC) will conduct a structural audit of its properties that are more than 30 years old. The assessment of other important civic properties will be carried out in the second phase.
Kolkata: Premium segment hit but no dip in prices
Sep 13, 2013
KOLKATA: Small builders are feeling the heat. Many are offering 5%-7% discounts to recover money stuck in projects. The top end of the market where apartments cost over Rs 1 crore has witnessed a softening.
Jaipur’s property scene is not in pink of health
Sep 13, 2013
JAIPUR: Five years after a turbo-charged growth that saw property prices more than double, realty developers say the slowdown is beginning to trigger a price correction. Rates can come down by 10% in the short term and the market will remain stagnant for 12-18 months.
Post – IT boom, 60000 units unsold in Bangalore
Sep 13, 2013
BANGALORE: This city has over 700 residential projects comprising apartments, villas, row houses and plots amounting to 1.82 lakh units under development. An inventory of roughly 60,000 units remains unsold. Of these 80% are apartments and 10% plots, property consultant L J Hooker says.
Mumbai’s realty sees no big price cuts soon
Sep 12, 2013
MUMBAI: In early 2013, a central Mumbai realtor’s son was set to join his father’s business. Then, the slowdown set in. The family patriarch asked the youngster to go abroad for higher studies. “For 8 years, real estate provided stability and growth. Now, it’s struggling.
Realty bites: Chennai sales not express
Sep 12, 2013
CHENNAI: The first residential realty market to rebound in early 2010 from the 2008 slump experienced a 200% plus appreciation over the past three years. But Chennai isn’t insulated from the present downturn. Builders, who a year ago sold 30 to 40 suburban units a month are struggling to touch double digits.
Plots steer Hinjewadi realty, rental values go south
Sep 11, 2013
PUNE: Are you looking to buy a plot in Pune at affordable rates? Hinjewadi – the well known IT hub of the city, showcases a promising picture. Once looked upon as a slow-moving hamlet, Hinjewadi is currently offering plots within the range of Rs 40 lakhs. Plots within the budget of Rs 40 lakhs registered 60 per cent supply in the April-June 2013 quarter. Plots in the range of Rs 40-60 lakhs registered a supply of 13 per cent.
Green Tree launches GreennTown in Chennai
Sep 11, 2013
CHENNAI: Green Tree Homes & Ventures Pvt. Ltd., one of the leading real estate developers in the state, today announced the launch of its premium value housing project, GreennTown.
30% more housing plans launched in Mumbai this year
Sep 11, 2013
MUMBAI: Mumbai witnessed the launch of nearly 18,000 housing units between January and June, an increase of 30% compared to the same period in 2012, said a quarterly report by global property consultants Cushman and Wakefield.
East Delhi colony to get freehold rights
Sep 10, 2013
DELHI: As many as 144 families displaced after partition, who had been campaigning for full rights to plots given to them in the 1950s, have won their long and arduous battle. Delhi Development Authority on September 9 announced that families who were given plots after 1950 in east Delhi’s Jheel Khuranja area will now have freehold rights.
Nationalized banks return to fund Noida Extension projects
Sep 10, 2013
DELHI: The Greater Noida Authority is upbeat that the Greater Noida (West) region, formerly Noida Extension, is slowly being removed from the blacklist of banks and they have started showing interest in backing buyers who want to invest in projects in the region. After the land row in 2011, banks had stopped financing such projects due to fears of land acquisition being quashed by the courts.
What happens if a lender takes over a housing project?
Sep 10, 2013
KOLKATA: Last month, the State Bank of India took over a housing project in Kolkata because the developer had defaulted on repayment of dues to the tune of Rs 176 crore. The Teen Kanya project was promoted by the Bengal Shelter Housing Development, a joint venture in which the state housing board has 49% stake. Therefore, its repossession by the SBI has come as a shock for the 400-odd families that have invested in the project.
Peer review slams Delhi Master Plan 2021 draft
Sep 09, 2013
DELHI: The draft Master Plan 2021 for Delhi, now under preparation, has been criticized by the National Institute of Urban Affairs (NIUA), which has been assigned the task of doing a peer review by the urban development ministry.
Moving to suburban Thane for a quality life
Sep 09, 2013
MUMBAI: A city apartment blocked by high-rises and smoke screen from the constant construction frenzy and congested streets, or a spacious suburban layout staring into a lush green cover with a slice of cosmopolitan urban lifestyle.
Govt mulls Singapore model of development for cities
Sep 09, 2013
PUNE: The Central government is mulling the Singapore model of development planning for Indian cities, where the plan is drafted for 30-50 years instead of the current 10-20 years.
Highways charts out route for vital OMR-ECR road link in Chennai
Sep 09, 2013
CHENNAI: The highways department has finalised the alignment of the new link road between East Coast Road (ECR) and Old Mahabalipuram Road (OMR). The final decision was made by a steering committee with top officials from the highways, Chennai Metropolitan Development Authority (CMDA), Chennai Corporation and police.
Mumbai’s long wait to replicate Manhattan, gets longer
Sep 07, 2013
MUMBAI: Perhaps no other ambitious urban infrastructure project that has been touted as a game changer, has waited for more than 30 years, yet has had no takers, with a future that is delayed, if not denied. The Mumbai Trans Harbour Link (MTHL) project has been under consideration for the last 30 years to develop the island city the way Manhattan in the US has been developed, reduce traffic congestion and grow the area surrounding Navi Mumbai.
Big extension to houses will need new power line in Chennai
Sep 07, 2013
CHENNAI: All low tension power consumers wanting to extend their houses by more than 2,000 sqft will now have to get new power connections for construction activity. Tamil Nadu Electricity Regulatory Commission (TNERC) on September 3 ordered that house owners should not use their existing connections for construction purposes.
Mumbai property rates may remain subdued in near future
Sep 06, 2013
MUMBAI: Real estate developers in Mumbai are finding it difficult to increase property prices because of rising inventory levels, subdued demand and uncertain macroeconomic environment, says credit rating agency Icra.

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