Latest Realty News

1.9 lakh owners in Hyderabad never paid property tax in 5 years
Oct 11, 2013
HYDERABAD: Nearly 1.90 lakh owners have not been paying property tax for over five years. These property owners together owe over Rs 461 crore, including arrears and interest on it, to the Greater Hyderabad Municipal Corporation (GHMC). Similarly, over three lakh owners of 13.5 lakh properties assessed have not been remitting taxes for over three years.
Why Urapakkam is treading well in rental accommodation segment
Oct 11, 2013
CHENNAI: Located on the GST Road in South Chennai, Urapakkam has been the place IT professionals prefer for rental housing. As a suburb in the Kanchipuram District, Urappakam is located between Vandalur and Guduvancheri. Here are some of the major reasons it holds good prospects.
Crucial realty document is yours only if you pay dues
Oct 10, 2013
MUMBAI: Seeking the copy of a property registration card (PRC) at the land records office can prove to be a costly affair. A PRC is a land record which provides the complete history of past owners as well as current owners. It is an invaluable document for land-owners to prove ownership. With the Right to Information Act, 2005, any citizen can seek the PRC of any plot. It is here that the catch lies.
Pragmatism to drive Mumbai’s realty growth
Oct 10, 2013
MUMBAI: Statistics may highlight the rising realty inventory but the undercurrent in the Mumbai property market indicates that revival is very much on the cards.
44 illegal colonies in Gurgaon to get amenities
Oct 09, 2013
DELHI: In a move that will provide relief to lakhs of residents living in unauthorized colonies in the city, the Haryana government has passed the Haryana Management of Civic Amenities and Infrastructure Deficient Municipal Areas (special provisions) Act 2013. This will enable the Municipal Corporation of Gurgaon (MCG) to provide basic amenities like water, electricity, roads, streetlights and sewage disposal to the residents living in these areas. The urban local bodies department has already i
Now, BMC to form buildings safety panel
Oct 09, 2013
MUMBAI: In the wake of the building collapse in Mazagaon, the BMC will form a standard technical advisory committee (STAC) to monitor building safety in a scientific manner. This committee will function on the lines of the civic body’s STAC for roads and will play a crucial role in deciding the nature of dangerous categories for dilapidated buildings in the city.
Selling a 17-acre project in South Mumbai, Lodha style
Oct 08, 2013
MUMBAI: From outside, the metal and glass facade of Lodha’s new residential project, The Park in Pandurang Budhkar Marg in Mumbai’s office hub Worli, looks like a corporate headquarter. The 10,000-sq-ft sales office inside, with quotes by renowned poets on glass walls, is equally striking.
Solutions to revive Chennai real estate market
Oct 08, 2013
CHENNAI: The thumb rule of Demand and Supply is the determining factor for price changes for any commodities – movable or immovable. This is being observed across the globe, especially where buying and selling is done for the purpose of investment or liquidating the same. This is felt more, especially in a very un-organized and un-regulated market like real estate, as this segment has also become a hot and buoyant investment destination these days.
Studio apartments – a smart investment option
Oct 08, 2013
DELHI: Studio and serviced apartments have emerged as smart economical investment options in India, as several prominent developers have started offering these in other parts of the country as well. The demand for studio apartments is outstripping the existing supply, generating high rental income, property appreciation and offering opportunities to high-value business tenants. Investors, especially NRIs, believe that investment in studio apartments is a wise and cost-effective decision, as it o
Godrej completes Phase 1 of Godrej Garden City
Oct 08, 2013
AHMEDABAD: Godrej Properties Ltd. (GPL) the real estate development arm of the Godrej Group, today commenced the handing over to customers of Phase I of Godrej Garden City (GGC), Ahmedabad. There are 624 apartments in 13 towers that have been delivered in Phase I of this project.
Andheri East is an attractive proposition for Mumbai homebuyers
Oct 08, 2013
MUMBAI: Andheri east has gained prominence in both, residential and commercial segments lately. It is an industrial area and also a MIDC-SEEPZ zone. The Chhatrapati Shivaji International Airport is an important landmark here. The upcoming Mumbai metro and its close proximity to the western express highway ensure that any project here will see increasing valuations over the years. Ramesh Nair, managing director west, Jones Lang LaSalle India, says, “The area has now become a hot property destinat
DDA to hold auction of commercial properties
Oct 07, 2013
DELHI: Thousands of prime commercial properties are up for sale in Delhi. After a gap of about one year, Delhi Development Authority is about to start selling properties in the capital. Over 50 commercial plots, six multilevel car parkings and two banquet halls have been opened up for auctions.
‘Reserve 20% area for low-income housing’
Oct 07, 2013
MUMBAI: A year after the state stalled its draft notification following objections from developers, it is set to issue a the final notification making it mandatory for developers to reserve 20% of areas of more than over 2,000 sqm for affordable housing.
Should you buy a home in Pune this festive season?
Oct 05, 2013
PUNE: This question is being asked by countless Puneites still living in rented properties and by the people seeking to make this beautiful city their home. The answer is – it is certainly the right time to invest in property in the right city, right location, at the right price and for the right duration. Not all cities currently, have real estate markets which are performing well.
Delhi’s upper-crust neighbourhood
Oct 04, 2013
DELHI: Slowdown or no slowdown, Lutyens Delhi’s tony residential areas are commanding prices like never before. Notwithstanding that, India’s uber rich are placing their bets on these luxury residential properties, located in posh localities, nestled between vast greens and wide roads with billionaires for neighbours.
Panvel – The Next Real Estate Destination
Oct 04, 2013
MUMBAI: The last born in the family always gets the best in terms of resources, love and also gets the advantage of being parented by more experienced parents. Similarly, in the real estate space in Mumbai, Panvel is now getting the benefit of the following:
Flat owners advised caution over VAT payment to builders
Oct 01, 2013
PUNE: Citizens’ groups and consumer forums have appealed to flat owners to refrain from hurriedly paying Valued Added Tax (VAT) to builders, following the Supreme Court’s decision.
Chennai developers scout beachfront options
Oct 01, 2013
CHENNAI: Clearing the air over rules governing construction of buildings in coastal regulation zones (CRZ), Chennai Metropolitan Development Authority (CMDA) has started issuing approvals for residential projects on the beachfront. The road abutting Elliot’s Beach in Besant Nagar will soon house one such project, a three-storeyed residential building being promoted by a prominent city builder.
Building terrace must be open to all residents: Bombay High Court
Sep 30, 2013
MUMBAI: No resident can be allowed to obstruct the BMC’s move to ensure access to the building’s terrace to all residents and for emergencies, the Bombay high court has ruled.A division bench of Justices S C Dharmadhikari and Gautam Patel dismissed a petition filed by a resident of a building in Grant Road who had challenged the notices issued by the municipal corporation.
HUDCO’s debenture issue oversubscribed
Sep 28, 2013
MUMBAI: Retail investors have given the thumbs up to Housing and Urban Development Corporation’s Rs 750-crore tax-free non-convertible debenture issue.
Housing to get costlier on 30% hike in cement prices
Sep 27, 2013
MUMBAI: After witnessing a price correction in all major markets owing to sluggish demand, cement prices have increased by over 30% in a month to Rs 275 for each 50kg bag. With the trend expected to continue, a cement bag is likely to cost over Rs 325 this festive season, hitting the ailing realty sector and making it costlier to purchase that dream home.
Sale of residential property and tax
Sep 27, 2013
BANGALORE: A sale of property has tax implications. Before deciding on selling your property, you must analyse the tax implications as well. Capital gains tax is leviable when you sell a property. The gains arising out of the transfer of a property is the difference between the amount spent on its acquisition including the amount spent on improvement of the property, and the consideration received on its transfer. The excess over the amount spent is the capital gains.
Credai creates forum for global exposure
Sep 25, 2013
PUNE: The Confederation of Real Estate Developers Associations of India, Pune Metro, has created an International Business Forum (CIBF) for its members to interact with companies and consultants in other countries with a view to promote trade, technology and knowledge exchange among developers.
‘Infrastructure should match realty growth’
Sep 25, 2013
PUNE: Real estate development is happening in the city at a steady pace, but the municipal administration will have to match this progress with infrastructure development so that there is no mismatch between growth of construction and civic amenities, said real estate developers on 22.
How to verify whether you will get the assured high returns before you invest in an office property
Sep 23, 2013
DELHI: If you drive along the Noida-Greater Noida Expressway in the National Capital Region, you will come across several advertisements by builders promising 12 per cent assured return on office space. For people looking to invest in real estate, the return appears attractive, but should you opt for such schemes offered by developers in the commercial segment? What exactly do these offer and do they actually deliver what is promised?

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