Latest Realty News

Pune looks forward to a giant leap in 2014
Jan 09, 2014
PUNE: It has indeed been an interesting year for Pune’s property market in 2013. At a time when the markets across the country were by and large subdued, Pune had been growing at a steady pace and even appeared on the luxury landscape during the year. There have been multiple demand drivers behind Pune’s growth during the year and it is generally believed that once the economic outlook in general is brighter, Pune may be witness to better appreciation than even the neighbouring Mumbai property m
Changing Demographics Boosting Pune Real Estate Demand
Jan 08, 2014
PUNE: We already know that Pune is no longer just a Pensioner’s Paradise (though it still is the #1 city of choice for retiring people in Maharashtra). At least three other factors now define Pune – the growth of the Information Technology, the massive spread of organized retail and the city’s changing demographics.
PMC identifies 16,000 properties not in tax net
Jan 08, 2014
PUNE: Over 16,000 properties, which have not been assessed for payment of property tax for a period ranging from six months to six years, were identified in the city limits during a month-long drive of the civic body.
Paying taxes made easy with online portal
Jan 08, 2014
GUWAHATI: In a bid to provide relief to the city's tax payers, the Guwahati Municipal Corporation (GMC) has launched online payment of property tax which is its prime source of revenue.
Withdraw tax hike now, demands CPI
Jan 08, 2014
VIJAYAWADA: The Communist Party of India on Tuesday demanded the government withdraw property tax immediately.
Revenue site registrations shoot up in Bangalore
Jan 07, 2014
BANGALORE: There’s fresh hope for 2014 on the realty front. Buoyed by an uptick in the registration of sites and buildings in revenue pockets during the fag end of 2013, realty observers expect the momentum to continue till April.
12% drop in new residential project launches in 2013 as over last year
Jan 07, 2014
MUMBAI: There has been a drop of 12% in new residential project launches in 2013 as over last year, a latest report from international property consultants Cushman & Wakefield says. The total estimated unit launches were recorded at 172,500 units across major eight cities of India with Bengaluru recording the largest number of units launched recording a rise 15%. Chennai on the other hand saw the sharpest decline in launches of new residential units which represented a drop of 39% over last year
No choice but to pass on hike to buyers: Pune builders
Jan 06, 2014
PUNE: The overall rise in the ready reckoner (RR) rates for various parts of the city and suburban areas will add to the financial burden of prospective home buyers, real estate developers said.
PMC may not hike property tax next fiscal
Jan 06, 2014
PUNE: Chances are that citizens will not be burdened with an increase in property tax in the next financial year. The civic administration has submitted a proposal to the standing committee, suggesting that the levy should not be hiked.
Koregaon Park realty tops rate chart in Pune
Jan 06, 2014
PUNE: The rise in ready reckoner rates for 2014 may have dropped compared to 2013, but the growth story for some city areas remains robust. The rates for residential areas have remained high for Koregaon Park, Erandawane, Shivajinagar, Kothrud and Kalyaninagar. In Pimpri Chinchwad municipal corporation limit, areas including Pimple Gurav, Pimple Saudagar, Wakad and Pimple Nilakh have registered higher rates. Interestingly, apart from fringe areas that are recording growth, there is much activity
New RR rates hike cost of old flats in Mumbai too
Jan 06, 2014
MUMBAI: If you choose to buy a flat in an old building today, you won’t be able to avail of the full 30% depreciation in the property‘s value. The up to 20% hike in ready reckoner (RR) rates for properties this year has lowered the depreciation benefit for flats in 20-year-old buildings to merely 2% to 11%. As a result, stamp duty to be paid on new and old flats will no longer vary substantially.
New home launches in Bangalore break records
Jan 06, 2014
BANGALORE: The country’s IT capital saw the highest number of new residential property launches between January and September of 2013 among Indian cities. The final number for the year could be the highest ever for the city.
Realty: Then and now
Jan 04, 2014
CHANNAI: The economic downturn in the year 2013 has had an adverse impact on various sectors and the realty sector has not been insulated by these changes. The year has been one of guarded optimism and the sentiments were rather cautious from both investors and builders.
Factors expected to drive Mumbai’s realty in 2014
Jan 03, 2014
MUMBAI: While 2013 was a year of stagnancy for the real estate market in Mumbai, 2014 is expected to perform better. However, there are certain factors that would impact growth and a substantial improvement is expected only if the conditions favour the market. A few things one hopes will happen in the year 2014 are
Ready reckoner rates up by 5-10% in Pune
Jan 03, 2014
PUNE: There is a 5 to 10% increase in the ready reckoner rates for the city and Pimpri Chinchwad while it is between 10-15% in the rest of the state. The state government on December raised the rates for properties which will come into effect from January 2014.
Owners rent out buildings to commercial units, cheat on tax
Jan 03, 2014
CHENNAI: A growing number of residential properties in the city are being used for commercial purposes to evade high property tax resulting in a huge loss to the city corporation. Any shortfall in collection of property tax, the biggest source of revenue for the corporation, impacts infrastructure schemes directly.
Indiareit Fund Advisors pares down offshore fund corpus to half
Jan 02, 2014
MUMBAI: Indiareit Fund Advisors, the real estate-focussed private equity arm of Piramal Enterprises, has cut the corpus of its $500-million (around Rs 3,090 crore) offshore fund by half, citing the overall slowdown in the sector and tough regulations as reasons.
Now, higher stamp duty on luxury flats in Mumbai
Jan 02, 2014
MUMBAI: Buyers of Super luxury flats with ceilings higher than nine feet, amenities like in-house swimming pools and helipads will have to pay up to 50% higher stamp duty than regular flats. Buyers of flats in luxury properties that exceed 4,000 square metre, or one acre of plot with a common gymnasium, club house and swimming pool, would have to shell out an additional 15%. This figure is over and above the up to 20% increase in the ready reckoner (RR) rates with effect from January 2014.
Factors that impacted Mumbai’s real estate in 2013
Dec 28, 2013
MUMBAI: Though Mumbai is the financial capital of India, the real estate market of the city has not been very encouraging in 2013 as the over-all performance graph was stagnant. The reasons for stagnancy could be justified due to various factors that impacted the market. A few of them have been discussed here:
High-end homes gain prominence in East Bangalore
Dec 28, 2013
BANGALORE: In the mid-1990s when the road to far-off Whitefield was upgraded, it was rumoured that a delegation visiting the site that ITPL was to come up on had agreed to put up the tech park in the location only if the road infrastructure was upgraded to reduce travel time from the Vidhana Soudha to ITPL, to 10 minutes. From then on, there has been a focus to upgrade civic infrastructure in the east – the widening of several key roads, the completion of the Outer Ring Road (ORR) and ongoing wo
What affects your realty investment in Chennai
Dec 27, 2013
CHENNAI: Various macro and micro factors impact real estate investment in a city. Here the author talks about factors that impact property investment in Chennai. However, before that let us understand what these macro and micro factors are
Building infrastructure at NH-24
Dec 25, 2013
DELHI: With infrastructure upgrades such as widening of NH-24 and the upcoming metro, the linkages between Delhi, Ghaziabad and Noida are expected to improve leading to real estate growth in these areas.
Mumbai real estate market – an overview for 2014
Dec 24, 2013
MUMBAI: The year 2013 was an eventful year for the Indian Real Estate sector with the introduction of the Real Estate Regulatory Bill and the Land Acquisition Bill in the parliament. With such developments happening, there is high optimism about the coming year – 2014. There is hope that 2014 will see a positive shift from the earlier years and will bring in the much required stability and transparency in the property market. Mumbai’s real estate market too, expects to see stability and healthy
‘Walk Score’ gaining importance in Pune real estate
Dec 21, 2013
PUNE: Abroad, a new trend of evaluating neighbourhoods by their ‘walk score’ is being seen among home buyers. The idea behind this is simple and in fact is the very basis of that favourite real estate mantra ‘location, location, location.’ And it has great pertinence for the Pune real estate market as well.
Residences in posh areas turn business houses in Hyderabad
Dec 21, 2013
HYDERABAD: Though unauthorized conversion of residential properties for commercial exploitation and illegal constructions are unabated in up-market areas like Jubilee Hills and Banjara Hills, the Greater Hyderabad Municipal Corporation (GHMC) seems to be turning a blind eye.

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