No Access to Online Property Tax, Bangalore Residents Struggle

As the civic body has not completed the PID enrollment in the city, many of the Bangalore residents have no access to online property tax.

E-Payment of Property Tax was expected to reduce the overburden of the property owners to pay the tax. In many of the localities inside Bangalore, this has become successfully initiated. However there are a few cities where online property tax facility is not yet available. Read More »

Green Norms to Become Mandatory For Plot Development

The government has decided to make green norms mandatory. Under the new rule the plot owners will have to follow the green norms while developing buildings in their residential plots.

NEW DELHI: The proposed amendment to the Master Plan 2021 will make green norms mandatory for construction of homes in the acquired plots. However the green norms will be applicable only for the plots above 3000 sq. meter. It means that the green norms will not be applicable to smaller plots. Read More »

Mumbai Residential Market Sees Fewer Launches

Mumbai residential market saw fewer new launches in the first quarter of 2013. On the other end, experts say that Mumbai residential market received good number of new launches in the last quarter of 2012.

Compared to the last quarter of the previous year, this year the new launches in the Mumbai residential market are lower, say experts. While the last quarter received higher number of new launches, the first quarter received only a few new launches. Read More »

Delayed Projects affect NCR residential market

One of the main problems which NCR Residential Market is facing now is delayed projects. Delayed projects drive away the demand for housing units in the capital.

The buyers’ sentiments are really hurt by the delayed projects. This is, thus, one of the main reasons which have affected the housing demand in Delhi-NCR. Read More »

HUDA takes away time limit on plot construction

Providing sufficient time to the allottees to construct homes in the allotted residential plots, HUDA has taken away the time limit for minimum construction on the allotted plots.

Haryana Urban Development Authority (HUDA) has decided to take away the deadline for completing the minimum construction in the given residential and commercial plots.

As per the existing rules, the allottees are to complete the minimum construction before two years since the possession date. This will be no more applicable. The allottees will have freedom to construct buildings according to his financial stability.

Commenting on the new development, a spokesperson of HUDA said that the deadline for construction stands null and void. This will be no more applicable in the city.

After the expiry period of 12 years, the HUDA spokesperson adds, the allottees will be able to extend the period by paying a fee for it. However the extension fee will be double the size of the previous years.

Plot sizes up to 100 sq. m. are exempted from this extension fees. The rates of extension for such smaller plots, however, will be according to the rates set by the Authority.

Any alter in the rates by the Authority will have an equivalent alter in the extension rates of such plots. It means that the rates will go up in the case if the Authority raises the rates and the rates will fall if the Authority rates are lowered.

The extension rates are different for both commercial and residential plots. Extension rates for commercial plots will be double or triple the size of extension rates for residential plots.

A 50% rebate in extension fee will be granted to the allottees that are defense personnel or paramilitary forces. If the allottees are women or widows, then also the rebate will be given.

Shilpa Shetty Launches Groupco to enter realty

Shilpa Shetty is planning to expand her business to real estate. Bollywood Diva has launched Groupco for footing into residential construction.

Groupco Developers is the latest venture of Shilpa Shetty. She has been into business for a quite long while. She is one of the favorites for those who love cricket just because she co-owns Rajasthan Royals team along with her husband. Read More »

SAT to hear the pleas of Sahara chief & others against SEBI

The pleas of Subrata Roy Sahara and three others against the market regulator SEBI will be heard by Securities Appellate Tribunal (SAT).

Securities Appellate Tribunal will hear the pleas submitted by Sahara Chief Subrata Roy. Along with Roy, three other top executives also have pleaded against SEBI in front of SAT. Read More »

Property Consultants Differ On Office Space Demand

Property consultants offer contrasting reports regarding the office space demand and absorption trends.

Normally the property consultants offer reports on everything and anything that happens in the real estate sector. In most cases their studies seldom differ. However their reports about office space demand trends in January 2013 are not supportive each other. On the other end, these reports seem contrasting each other. Read More »

Amity University & RICS launch First Realty institute

Joining hands with RICS, Amity University has launched a realty institute. This is the first realty institute in India and it will offer a number of courses related to real estate.

An institute which offers various courses on real estate has been recently launched. This is the first realty institute in India. This first realty institute was jointly launched by Amity University and RICS. Read More »

McDonald’s to increase stores in South &West India

The largest hamburger fast food restaurants chain McDonald’s plans to increase the number of stores in South India.

BANGALORE: McDonald’s is a name which is very familiar to all who love pizzas and hamburger. They are the largest hamburger fast food restaurants chain in the world. It is estimated that they have daily customers over 68 million. McDonald’s has stores in 119 countries. Read More »

Sanofi India gains 150000 sq. ft. office space to expand

With the plan to expand, Sanofi India has bought 150000 sq. ft. office space at Powai in Mumbai.

MUMBAI: Sanofi India is the Indian subsidiary of French pharmaceutical major. It has bought 150000 sq. ft. of office space as part of their plan to expand. The newly bought office space is located at Powai, one of the suburbs which fall in the MMR. Read More »

Demand for Office Space to Increase in 2013: DTZ

According to DTZ demand for office space will increase in 2013. The global real estate advisor added that this year more companies will expand their offices.

The office space absorption fell in the year 2012. This had affected the commercial realty sector badly. The office space demand is expected to increase this year. Office space absorption is expected to reach the mark of 30.5 million sq. ft. Read More »

Mumbai & Bangalore See Improved Home Sales

During the period from January to March, home sales improved in Mumbai and Bangalore. Meanwhile the home sales dropped in Gurgaon.

Mumbai and Bangalore saw home sales improving while Gurgaon faced a fall in the home sales. Read More »

Hindustan Unilever to Monetize Realty Assets

After divesting realty assets worth Rs.672 Cr in 20125, the largest consumer goods firm Hindustan Unilever Ltd plans to divest its residential assets.

In the year 2012, Hindustan Unilever Ltd has earned around Rs.672 Cr by divesting its realty assets. This year too, the largest consumer goods producing firm plans to earn Rs.300 Cr by monetizing its idle properties. Read More »

Indian Property Show 2013 conducted in Doha

Last week Indian Property Show 2013 was conducted at La Cigale Hotel in Doha. The property show attracted the takers and the NRI investors.

Non-resident Indian (NRIs) who live in Doha participated in Indian Property Show 2013 which was conducted at La Cigale Hotel last week. Thousands of NRIs visited the show. Read More »

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 »