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Category: World Real Estate News

Kolkata’s municipal government raises property taxes due to a lack of funds.

January 6, 2023

KOLKATA: Faced with a severe revenue shortfall, the Kolkata Municipal Corporation has decided to raise the property tax structure under the unit area assessment (UAA) system throughout the city, affecting nearly 9 lakh property owners. According to a KMC revenue department proposal approved at the mayor-in-council meeting on Wednesday, the base unit of area value, […]

Kolkata’s municipal government raises property taxes due to a lack of funds.more

The ban on non-essential construction work in Delhi-NCR has been lifted.

January 5, 2023

NEW DELHI: With air pollution in Delhi-NCR improving, the Centre’s air quality panel directed authorities on Wednesday to lift curbs imposed under stage III of the Graded Response Action Plan, along with a ban on non-essential demolition and construction work. The 24-hour average air quality index (AQI) in Delhi was 343 at 4 p.m., down […]

The ban on non-essential construction work in Delhi-NCR has been lifted.more

CBIC: GST is not payable on a house rented to a proprietor for residential purposes.

January 3, 2023

NEW DELHI: The CBIC has stated that from January 1, no GST will be payable on housing units rented to the owner of a proprietary concern for residential use only. The Central Board of Indirect Taxes and Customs (CBIC) also notified changes to GST rates for certain goods and services, effective January 1, 2023, based […]

CBIC: GST is not payable on a house rented to a proprietor for residential purposes.more

The Chandigarh civic body has requested that the railways, the UT, Punjab, and Haryana governments pay property tax.

January 2, 2023

CHANDIGARH: The Municipal Corporation (MC), which has been focusing on defaulters who owe a large amount of property tax, has written a DO (demi-official) letter to top officials of Chandigarh Railway Station, going to ask them to deposit tax of around Rs 2.30 crore. The sum also includes arrears owed to the authority by the […]

The Chandigarh civic body has requested that the railways, the UT, Punjab, and Haryana governments pay property tax.more

NCDRC orders ND Developers to refund homebuyers for delivery delays.

December 30, 2022

BENGALURU: The National Consumer Disputes Redressal Commission (NCDRC) has ordered city-based ND Developers to refund home buyers’ money plus 9% interest for failing to deliver the flats on time. On March 31, 2011, more than 50 homebuyers decided to book flats at ND Laurel, a housing project at Gunjur, near Varthur in Bengaluru East, according […]

NCDRC orders ND Developers to refund homebuyers for delivery delays.more

Gurugram-based Godrej Properties has purchased nine acres of land.

December 29, 2022

NEW DELHI: Godrej Properties (GPL) announced an outright purchase of approximately 9 acres of land in Gurugram, Haryana, in a BSE filing. This project will include approximately 1.6 million square feet of luxury residential development. The project’s revenue potential is estimated to be around Rs 2,500 crore. In Kurukshetra, the company recently purchased approximately 62 […]

Gurugram-based Godrej Properties has purchased nine acres of land.more

The Madras High Court has upheld a property tax increase in Chennai and Coimbatore.

December 28, 2022

CHENNAI: The increased property tax regime in Chennai and Coimbatore corporations is unavoidable. The Madras high court upheld the legal implications of a government order rising it in the two cities on Tuesday. Despite dismissing a slew of petitions challenging the councils’ resolutions and the subsequent GO raising the property tax, Justice Anita Sumanth reserved […]

The Madras High Court has upheld a property tax increase in Chennai and Coimbatore.more

Hyderabad civic body’s FY24 budget of Rs 6,224 crore was approved without debate.

December 26, 2022

HYDERABAD: Amid the din, the GHMC budget of 6,224 crores for the fiscal year 2023-24 was approved at its fifth general assembly meeting on Saturday. No discussion on the budget or the agenda took place due to protests from both BJP and Congress corporators, as mayor Gadwal Vijayalakshmi quickly called for a vote after her […]

Hyderabad civic body’s FY24 budget of Rs 6,224 crore was approved without debate.more

The directors of Ansal Properties have been summoned by the Delhi High Court.

December 23, 2022

The directors of real estate firm Ansal Properties & Infrastructure have been summoned by the Delhi High Court to describe the “concealment of facts” from the court and try to “frustrate” its orders. The directors have been directed to remain personally present in the court on January 23. “Prima facie,” the developer of real estate […]

The directors of Ansal Properties have been summoned by the Delhi High Court.more


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