Monthly Archives: March 2013

Connectivity to IT Hubs Boosts Pallavaram’s Growth

Pallavaram in Chennai is growing very fast due to its connectivity to the IT hubs. The area also enjoys close connectivity to Chennai as well.

CHENNAI: Pallavaram in Chennai, a place of historical importance, enjoys a highly strategic location. This area has close connectivity to many IT hubs. This is considered as one of the main boosting factors of the area. Read More »

Home sales pick up in NCR, decline in Mumbai

Home sales in the NCR have jumped by 46%, reported PropEquity. Mumbai, on the other side, saw a decline of 14% in home sales.

New Delhi: Tracking 40 cities and 45,000 housing projects, PropEquity reported that home sales in the NCR have jumped. According to the property consultant the jump is by 46%. Read More »

Noida & Gr. Noida Authorities warn default builders

Asking the default builders to pay the due amount, Noida and Greater Noida development authorities have warned them. This action of the authorities will affect the flat buyers.

Those who have booked flats and are waiting for their flats to be ready are now highly worried over the nature of the builders. If you have a point of doubt why the buyers are worried over the nature of builders, you should see the terrible situation of the flat buyers in Noida. Read More »

Trump widens its presence in Indian realty

US-based real estate major Trump has now plans to expand its presence in India. Trump will develop two more luxury housing projects in India.

With the plan to widen its presence in India Trump plans to develop two more residential projects- one in Mumbai and the other in the NCR. They had entered India with their ‘Trump Towers Pune‘. The residential project was launched in 2012. This marked the entry of Trump into India. Read More »

Revised TDS on luxury apartments from June

Budget 2013 has proposed an increase in Tax deduction at source (TDS) rate by 1%. The revised TDS will be in force from June 2013.

Slapping on the top earners, who demand for luxury housing units, Budget 2013 has proposed a revision of TDS by 1%. However the new revised TDS will be into force from June onward. Read More »

BMC implements new property tax in Mumbai, residents protest

Against the new property tax policy of the BMC, the residents have decided to protest strongly. They now plan to conduct a fast for one day in protest against the new property tax policy.

BMC has decided to implement a new property tax policy in Mumbai. The new policy will be based on the capital value of the property. However claiming this policy to be ineffective and would not be suiting to the various property prices existing in different areas of the city, the residents have decided to go on strike against the civic body. Read More »

Mid segment housing will pick up, expects industry

Along with the growth of affordable and luxury housing segments, mid segment housing also will be picking up in the year 2013, predicted industry experts.

Mid segment housing is one of the fast growing housing segments, say industry experts. Nearly a half of the population falls in the mid income segment and so there will be an increase in the demand for mid segment housing. Read More »

DDA flats remain incomplete, flat owners protest

Displaying higher anger towards Delhi Development Authority (DDA) which failed to complete flats in Mukherjee Nagar, the residents conducted a protest recently.

Those who reside in DDA flats in Mukherjee Nagar face an unconditional living condition. Most of the residents have alleged the Delhi Development Authority (DDA) for not completing the flats. Read More »

Industry fears hike in Property prices with Land Bill

The industry experts fear that the property prices may be hiked with the approval of land acquisition bill. They predict rise in the property prices along with the land acquisition bill.

If the land acquisition bill is passed the property prices will be rising, opined industry experts. The experts feel consoled by the fact that the all-party meet did not reach on a consensus over the land acquisition bill which was presented for the open discussion in the parliament last week. Read More »

E-payment of Stamp Duty: Maharashtra Govt. Goes for It

With the motto to renovate the entire stamp duty collection system, Maharashtra Government has decided to permit e-payment of stamp duty.

Now those who buy property in Mumbai need not go from office to office. They will be able to pay the stamp duty or the property tax through e-payment system. The customers will have the access to pay the property tax through some authorized banks. Read More »

Rentals of High End Villas Decline in Bangalore

Rentals of high end villas decline in Bangalore. The increased number of villa projects is said to be a reason for this decline in the rentals of high end villas.

High end villas always remained as one of the best options to lead an independent life. Though costlier than almost all other forms of residential properties, high end villas were hotly sought after by the top-end economic class people. Read More »

Housing Shortage Will Hit India, Knight Frank Predicts

India is predicted to face severe housing shortage. According to the global real estate consultant firm Knight Frank, housing shortage will be one of the main problems India will have to handle in the near future.

By the year 2031 the population, residing in the top Indian cities, will be over 600 million. The government and the real estate builders will have to really find some solutions to solve the housing shortage. Read More »

Foreign retailers to raise more demand for office space

The demand for office space in India is expected to be driven by the foreign retailers. There are many foreign retailers who are set to expand their shops in India.

Once the foreign retailers start expanding their stores in India, the commercial real estate sector will gain boost from this. Their expansion will demand more office space. Read More »

Building Clearances delayed: property prices shoot up

According to the Economic Survey 2013 finding, delay in building clearances is one of the main factors which cause property prices to shoot up.

As per the findings of the Economic Survey 2013, property prices are shot up due to the undesirable delay in building clearances. The Economic Survey 2013 requested the government to consider the matter and to do whatever is required. Read More »

Rs.1L Deduction in home loans may boost affordable housing demand

First time home buyers are given a reason to be happier and more cheerful now. They will be given an additional benefit of Rs.1 lakh deduction for the interest rates for their home loans up to Rs.25 lakh.

Though the new proposal included in the budget 2013-14, it will be applicable only to the first time home buyers. In short it gives no reason for smile for the second home buyers or who wish to move to a better home with the help of  home loans. Read More »

Budget 2013 presented: Where realty sector stands now?

The period, before the presentation of Budget 2013, was a period of expectations and promises. However most of the promises to the real estate sector were not included in the Budget 2013.

Real estate sector had ‘invested’ a lot of hopes on the Union Budget 2013. The construction sector expected that the sector would be given infrastructure status and so many others like this. Budget 2013 also was expected and predicted to a real estate friendly one.

Setting up of a real estate regulatory authority was another important thing which the real estate sector waited for. However the regulatory bill also did not see light. Read More »