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JLL Report: Approx 30% of the Office buildings in the top three cities need refurbishment.

March 17, 2020

As per property consultancy JLL India, approximately 30% of office buildings in Mumbai, Delhi-NCR and Bengaluru are at least a decade old and require refurbishment that might cost over Rs 5,500 crore. The consultancy said in a report ‘Futureproofing 2.0 Upgrading commercial properties to build sustainable value’ after upgrading, rents might increase by up to […]

JLL Report: Approx 30% of the Office buildings in the top three cities need refurbishment.more
Redevelopment

Gujarat co-operative society’s residents can now apply for redevelopment.

Residential buildings incorporated under the 1962 Gujarat Co-Operative Societies Act and intending to conduct redevelopment can now apply to the Paldi Co-operative Registrar, according to an urban development department notification. There are 6,714 housing societies established under the GCS Act of 1962 in Ahmedabad and over the last three months, several of this demonstrated an unwillingness […]

Gujarat co-operative society’s residents can now apply for redevelopment.more
Western Railway-Mumbai

Indian Railways to monetize land parcels by leasing it to e-commerce firms.

March 16, 2020

The Indian Railways plan to monetize land plots in smaller cities by leasing them for warehouse setup to e-commerce companies. The Rail Land Development Authority, the statutory authority under the Ministry of Railways, said it was in talks with the largest online store in the country, the Flipkart, and that the interest will soon be […]

Indian Railways to monetize land parcels by leasing it to e-commerce firms.more
Tax Relief

South Delhi announces tax exemption for residents of the illegal colonies.

An amnesty scheme has been declared by South Delhi Municipal Corporation to provide relief for inhabitants of unauthorized colonies. SDMC Mayor Sunita Kangra clarified that, under the terms of the scheme, the unpaid tax in respect of residential property in unauthorized colonies would be exempted from payment by paying just the current year’s tax. “In […]

South Delhi announces tax exemption for residents of the illegal colonies.more
K Chandrasekhar Rao

Telangana CM plans to hike property tax following improvements in Villages and Cities services.

March 14, 2020

Days after hinting at jacking up the power tariff and other taxes, chief minister K Chandrasekhar Rao declared on Friday at the assembly that property tax would be hiked in gram panchayats and municipalities. According to the chief minister, the TRS government had the guts to first tell the people and then raise the tax […]

Telangana CM plans to hike property tax following improvements in Villages and Cities services.more
BMC

BMC expects to receive Rs 600 crore through the Vacant Land Tenancy (VLT) scheme.

March 13, 2020

The civic general body approved a vacant land tenancy scheme (VLT) on Wednesday in a view to boosting revenue. The BMC plans to receive Rs 500-600 crore one-time revenue from 213 plots, covering more than 125 sq ft, which will be leased at 62.5% of ready reckoner rates. These involve gymkhanas, cricket fields, community centres and godowns […]

BMC expects to receive Rs 600 crore through the Vacant Land Tenancy (VLT) scheme.more
Investment

Lodha Ventures backs MultiLiving startup by investing Rs. 45crore.

Lodha Ventures, the investment arm of Mumbai-based property developer Mangal Prabhat Lodha family, has invested Rs 45 crore in MultiLiving, a luxury service apartment startup. MultiLiving provides a network of luxury designed residences for urban professionals. The property business operates in Lower Parel, Powai, BKC, Kanjurmarg, and Vikhroli at the moment in Mumbai. “MultiLiving is […]

Lodha Ventures backs MultiLiving startup by investing Rs. 45crore.more
Under-construction Building

Construction work freezes in China due to epidemic prevention.

March 12, 2020

In February, construction operations in China halted when the government prolonged the lunar New Year break and urged residents to remain indoors for a coronavirus epidemic preventive. The flu-like disease began from central Wuhan has killed 3,158 people and affected over 80,000 in mainland China. Japan’s Komatsu report, one of the most significant manufacturers of […]

Construction work freezes in China due to epidemic prevention.more


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