The income tax department has decided to review recent property deals to check for use of cash. The plan is to start the scrutiny from Delhi and the National Capital Region comprising Gurgaon and Noida and subsequently turn it into an all-India exercise.
properties and more
Bangalore leads in office space absorption
According to the latest report of a leading commercial real estate consultancy, the southern city of Bangalore leads the office space market in the country by absorbed around 2 million sft of office space during January-March, 2011 accounting for almost 36 per cent of a total of 6 million sft of office space absorption in India.
Specifying carpet area will be mandatory
In a major shift to bring in transparency in real estate sector one of the prominent Real estate associations of India said it has made it mandatory for all members of the association to mention carpet area in their brochures and sale agreement, aiming to bring in transparency in the sector.
Land market rebounds in Hyderabad
Land market in Hyderabad is slowly rebounding back with increase in enquiries for land and land allotment by development authorities to companies.
Eco-friendly builders get sop from Centre
In a fillip to eco-friendly development, builders will no longer have to get the mandatory Environment Impact Assessment (EIA) study for residential and commercial complexes if their constructions adhere to green norms as prescribed by international agencies.
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