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.
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.
Residential Prices Slated to Decline in Delhi-NCR and Mumbai
Weighed down by a piling up inventory as customers stay away, property prices in India’s key markets are slated to decline, while in other cities the trend is likely to be divergent .
Dream Griha at a dream price
Artha Property on 14th April geared up to cater to rising demand for urban villas with the launch of "Grihasta", a 100-acre modern but affordable villa project.
Thailand’s Leading Developer Pruksa Plans to invest $300mn in Indian Real Estate
The Indian arm of Bangkok-based Pruksa Real Estate, Pruksa India Housing, based in Bangalore, has ambitious goals for India. It is looking to invest $300 million in the country over the next five years. Pruksa Real Estate is a leading property developer in Thailand and is also among the top 10 players in Asia, reports Financial Chronicle.
Vaswani Group to invest Rs 500 crore in projects across Bengaluru and Goa
Vaswani Group, one of the leading real estate developers from Bengaluru, is all set to invest Rs 500 crore in projects across Bengaluru and Goa, during the current financial year. These new projects include 4-5 residential and one commercial project.
US- Based 3 Palms Hotels and Resorts to Open Hotels in India
US-based 3 Palms Hotels and Resorts is set to enter India, with its first two hotels slated to open in August. The hotel chain is developing three properties initially, two in Rajasthan and one in the Delhi-NCR region.
JOBS | Project Manager -Electrical for a Singapore Based Construction MNC
Location : Bengaluru/Bangalore
Benami property to be seized under new law
The government will introduce amendments to the Benami Transactions (Prohibition) Act, which will give it the power to confiscate any property that is declared benami. Although the Parliament had passed a law in 1988 prohibiting benami deals, it was never implemented as the rules were not framed. But facing an outcry over black, or untaxed, money, there is now urgency in the government to tighten the provisions in the legislation against benami transactions. "The bill may be introduced in the monsoon session of Parliament," a finance ministry official told ET.
Tata Housing to Enter into Redevelopment of Old Building Complexes
Tata Housing Development Company the subsidiary of Tata group’s principal holding company Tata Sons is entering into construction projects involving redevelopment of old building complexes, as it looks for ways to get a maiden entry into its home market Mumbai.
JOBS | Sr. RELATIONSHIP MANAGER - REAL ESTATE / BUILDERS & DEVELOPERS
Location : Bengaluru/Bangalore
Global wealthy pick Mumbai, Shanghai as future cities
According to Annual Wealth Report by a multi-national bank & real-estate services firm, Mumbai has gained in importance as global business city by 118.
Permissions first, project launch later
One of the prominent Real estate body in Maharashtra has barred builders from launching and exhibiting any property project without obtaining all the necessary clearances & permissions, in its bi-annual 18th property exhibition at BKC.
JOBS | BDE & BDM FOR REAL ESTATE / VILLAS / PLOTS
Location: Bengaluru/Bangalore, Mumbai, Mumbai Suburbs
Delhi govt nod for 30,000cr Metro Ph-III
The Delhi government gave the approval for Phase III of the Delhi Metro network on 11th April, 2011, paving the way for the Centre to give its sanction to the project plan.
Housing board to acquire 6k acres
Karnataka Housing Development Board (KHDB) will soon acquire 6,000 acres of land in areas surrounding Bangalore to develop residential layouts and multi-storied apartments at a reasonable price for end users.
Relief for small plot owners in Hyderabad
Succumbing to pressure from property owners, residential welfare associations and public representatives, the state government is contemplating to exempt small plot owners from the mortgage rule for constructing their houses.
Soon, rent won’t decide property tax in Mumbai
The state legislative council on 8th April 2011 introduced changes in provisions related to the proposed switchover to a capital value-based tax assessment regime.
Mumbai slums worth Rs. 1 lakh crore
After considerable research by Mid-day, the estimated real estate value of Mumbai's slums, works out to be over Rs. 1 lakh crore. If the floor-space index (FSI) of 2.5, allotted to the slums, is taken into account, the cost would multiply that many times.
Visakhapatnam attracts global and domestic investors
Visakhapatnam has been attracting a lot of interest among global and domestic investors in the last few years.
The Wealth Report reveal
Key findings of the 2011 edition of The Wealth Report reveal that almost 40% of the world’s most exclusive residential property markets increased in value during 2010.
Six of the 10 biggest risers were in Asia.
Six of the 10 biggest risers were in Asia.
Commercial space demand in India to touch 160 mn sq ft by '14
Demand for commercial office space across the seven major cities in India is estimated at around 160 mn sq ft by 2014, a latest study by multi-national real-estate services firm has revealed.
Flat buyers wary of slums in Mumbai
TOI, along with Mythili, indexed the findings to 2010 prices based on National Housing Bank statistics. The research shows that new buyers in central Mumbai are willing to pay 13.26 % more for a home near a park or a garden and 9.6% more per sq ft for a noise-free neighbourhood.
Delhi will have unique number for every property
A property titling law, which is in the final stages of making for Delhi, will provide a unique number for every property, and clear ownership records.
Report sees housing sector boom in Hyderabad city in next 4-5 yrs
A research report compiled by a top multi-national real-estate services firm for the state information technology and communications department points out to a steep rise in the demand for residential units in Hyderabad over the next four-five years.
No hike in property tax in Bangalore this year
The Bruhat Bangalore Mahanagara Palike (BBMP) issued a statement on 30th March clarifying that there would be no revision in the property tax rates.
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