Kolkata Municipal Corporation (KMC) would adopt a two-way strategy to tackle a group of real estate developers who breach municipal laws that eventually hinder apartment owners. First, any tax delays must be paid by the builder and not the buyer. Second, until the KMC provides the developer with a clearance certificate (CC) a buyer cannot […]
Kolkata local body enforces strict law upon tax delays.more
More than two years after a bailout scheme for stalled slum rehabilitation projects was initiated by the state government by providing soft loans, not a single builder has benefited from it. In October 2017, the government had partnered with the SBI the state-run Shivshahi Punarvasan Prakalp Limited (SPPL), to provide loans between Rs.5 crore – […]
Developers facing denial on bailout scheme applications.more
Investors, who purchased luxury apartments, expecting an increase in property prices, and receiving lucrative rentals, are now faced with a harsh reality. Not only do prices stagnate or decline, but rental income from such flats are low. A surplus of high-end apartments has left tenants with a wide choice of properties to choose from, mostly […]
Property investors show disappointment from rental yields.more
Regardless of the sloppy economy, the demand for luxury property in Mumbai is growing, and developers are preparing to fulfill it. The buyer’s first choice of housing would be luxurious towers in South Mumbai. Living lavishly in a quaint Mumbai neighborhood with plenty of modern facilities and near to all the key destinations. The country’s […]
Demand for luxurious housing mounts in South Mumbai.more
On February 6, the Greater Hyderabad Municipal Corporation (GHMC) launched an online portal to support the sale of TDR. It has features like the issue, use, sale of TDR certificates and existing certificates data. The site is recognized as TDR Bank. It was initiated by KT Rama Rao, Minister of Municipal Administration and Urban Development […]
GHMC launches online portal to sell TDR certificates.more
The High Court of Madras proposed that non-resident Indians should be banned from buying homes in India, speculative sales should be prohibited, and a 100% additional stamp duty on purchases of second homes should be imposed. As party respondents, the Court itself impleaded the Union housing and finance ministries. We also asked questions about the […]
High Court imposes ban on NRIs from purchasing residential property in India.more
51 hectares of land in Jalna District have been allotted by the Maharashtra Vikas Aghadi government to the Vasantdada Sugar Institute (VSI), headed by the Sharad Pawar at nominal rates. Originally, the Agriculture Department purchased 51.33 hectares of land for a state seed farm, in the village of Patharwala, Ambad taluka in Jalna. The cabinet-led […]
Trust led by Sharad Pawar gets 51 hectares of land by the Maharashtra government at a nominal rate.more
Real estate is one of those industries where product assurance remains in question until the Real Estate (RERA) Act (Regulation and Development) made it mandatory for all projects in 2017. In some of the major real estate markets, quality construction is still a value proposition, with buyers willing to pay a premium, for return for […]
Developers are providing an extended warranty to retain customer confidence.more
Real Estate developers and property consultants shared their disappointment about the Budget for the next fiscal and said they did not address the sector’s tremendous liquidity problem and gave no significant opportunities to raise slow housing sales. “The budget direction is incremental but the sector-specific measures for the real estate sector are not in effect,” […]
Budget 2020 lacks to resolve major issues faced by the realty sector.more In the hill town, there is a new format of property tax, which gives green buildings a 50% exemption. Under the new rules, the Dharamshala Municipal Corporation’s (DMC) meeting of the General House decided on 30 January all families below the poverty line and cowsheds were exempted from paying property tax. When approached, Devender Jaggi, […]
Hilltown with green buildings will get a 50% tax rebate on property tax.more