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.
Charoli delivers ultimate real estate location to Pune
Oct 10, 2013
PUNE: Location is everything in real estate – and never more so than in Pune, one of India’s most exciting and active real estate markets. The Oxford of the East has been steadily gaining a larger and larger share of the country’s IT and ITeS pie, and is now all set to surpass even Bangalore. At the same time, real estate market in Pune is further bolstered by its thriving manufacturing industry as well as education and healthcare sectors.
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.
The evolution of Kandivali as a residential hotspot in Mumbai
Oct 08, 2013
MUMBAI: Kandivali has seen a drastic transformation in recent times. Homebuyers prefer this location due to its proximity to important commercial centres, like BKC and Andheri. With projects focused on modern lifestyles and amenities coming up in the area, buyers have another reason to rejoice. There are a number of exceptional facilities, like schools and colleges, restaurants, theatres and gardens in Kandivali; the area has undergone a complete makeover.
Right time to invest in the Goregaon-Borivali growth corridor
Oct 08, 2013
MUMBAI: For people looking for well-designed living spaces with beautiful landscapes, the glitziest malls and commercial outlets – all within a walking distance, Goregaon west is the ideal location. Off the western express highway, Goregaon west has emerged as an upscale commercial and residential destination in the western corridor of Mumbai.
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
‘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.
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:
Developers selling non-core biz to improve balance sheet: Study
Sep 21, 2013
BANGALORE: Developers are now focusing more in their own regions and are selling their non-core businesses to improve their balance sheet. Further, interest in tier II city investment has also reduced as investors are unable to make the desired returns in their earlier portfolios.
The property market is witnessing some structural changes with developers gradually coming out of th...
Sep 20, 2013
BANGALORE: Developers are now focusing more in their own regions and are selling their non-core businesses to improve their balance sheet. Further, interest in tier II city investment has also reduced as investors are unable to make the desired returns in their earlier portfolios.
Prices of residential real estate may rise 20-25%: Parsvnath Developers
Sep 18, 2013
DELHI: Real estate major Parsvnath feels there are clear indications that residential property prices may rise by nearly 25 per cent in the coming quarters. Pradeep Jain, Chairman, Parsvnath Developers, attributes this to raw material costs, macro-economic conditions, funding issues and the recently passed Land Acquisition Bill. In an interview with Business Line, Jain says the company will focus on executive and fast-track deliveries. Parsvnath is currently working on 49 projects with a total a
Greater Noida industries seek interest waiver
Sep 18, 2013
DELHI: Given the slowdown in themanufacturing sector, several industries in Greater Noida, which have not been able to pay lease rents against their plots for the past few months have demanded a waiver of interest amounts. Industrial associations of Gautam Budh Nagar district, led by Noida Entrepreneurs’ Association (NEA), have asked the Greater Noida Authority to introduce a time-bound interest-free rent payment scheme.
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.
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.
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.
Mumbai sees 18,000 residential units launched in first half 2013, up 30%
Sep 11, 2013
MUMBAI: Weak residential property market scenario in Mumbai has not deterred real estate developers from launching new projects in the financial capital of the country. The city has witnessed launches of around 18,000 units in the first half of the year until June, representing an increase of 30% over last year, said a quarterly report by Cushman and Wakefield.
Freehold rights in 45 resettlement Delhi colonies
Sep 11, 2013
DELHI: The Delhi Government will grant freehold rights on September 10 to residents of 45 resettlement colonies which were developed almost 50 years ago.
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.
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.
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.
New ‘high density’ policy will boost affordable housing in NCR
Sep 07, 2013
DELHI: The Haryana government recently approved a ‘high density’ housing policy under which agencies like the Haryana Urban Development Authority (Huda) will allow developers to increase the density of population in their group-housing projects.Realty players believe that the new high density policy will motivate builders to construct more small-sized housing units in a given area.
Property fraud cases to now get solved easily in Noida
Sep 02, 2013
DELHI: From now on, cases of forgery related to registration of land and property in Gautam Budh Nagar can be resolved at the department of stamps and registration in Noida. Earlier, complainants had to move various courts to adjudicate these matters, which often stretched on for several years owing to pendency of cases.
Building curbs in NCR forests set to go
Sep 02, 2013
DELHI: In a move that could deal a body blow to threatened forests and water bodies in the National Capital Region, Haryana government has successfully got restrictions on construction activity in ‘conservation zones’ deleted from the revised NCR regional plan, which is now in the final stages of getting notified.
Two months hence, Gurgaon govt yet to revise house tax
Aug 29, 2013
DELHI: Weeks past the deadline now, the property tax revision scheme – being prepared by a special committee constituted by the state government – is yet to be implemented. According to officials of the Municipal Corporation of Gurgaon, there haven’t yet been any updates from the authorities on this matter, and no clarity on whether a timeline is going to be followed at all.
Meerut on its way to becoming strategic realty destination
Aug 28, 2013
DELHI: Meerut has a lot of land for development and is fast turning into a strategic real estate destination for realty players and buyers. As real estate prices have gone through the roof in other NCR regions like Noida, Gurgaon, and Ghaziabad, Meerut’s realty market has shaped up as an ideal destination that is not only catering to the increasing housing demand, but also maintaining the prices within affordable limits.

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