The Gautam Budh Nagar district administration has proposed to hike the circle rates of property in Noida by 10-30%. The authority of the finance department has granted a preliminary approval to the new rates. Circle rate is the minimum rate at which stamp duty is charged on transaction of a property. And the authority has [...]

According to the National Housing Bank‘s Residex index, the cost of houses and apartments in Chennai are rising sharply. The index for the city raised by 39.5 per cent in the last quarter of 2011-12 compared to the same period last year. This is recorded as the highest jump in residex index for any city [...]

The real estate sector in India will find it helpful for their growth as the Indian cement companies are looking at reducing the costs of cement. The cement industry has found that in last three months, higher inflation and the lower demand for property in India due to costly home loans have impacted real estate [...]

The Chennai electricity board has announced that on 26th May Power supply will be suspended in following areas for maintenance work. The notice has been given so that the residents of houses and apartments in Chennai will be aware of the power cut and manage their daily work properly. The duration of the power cut [...]

Chennai-based real estate developer, Lancor Holdings Limited has planned to invest around Rs 300 crore in the next two years to develop around 800 residential units in Chennai. Lancor Holdings so far developed around 3 million sft with focus on residential space. Their new planning will construct five projects in and around the city to [...]

Radhe Krishna housing society in Sanpada has banned pet dogs in the apartment. There are residents in the apartment who had taken a flat on rent, but were unaware that pet dogs are not allowed there. Those residents who have pet dogs were given notice by the society to vacate the flat within a month. [...]

Bruhat Bangalore Mahanagara Palike (BBMP) has identified sources from where it is losing revenue. In a survey to reassess buildings in tech parks for property tax at Mahadevapura revealed that the Palike has been cheated of crores by commercial and IT buildings, which do not pay tax according to the law. BBMP found that 10 [...]

The draft Real Estate (development and regulatory) Bill has suggested that every builder must maintain escrow account for customer advances and all third-party liabilities so that proper monitoring and use of proceeds is ensured in real estate projects. Last year, the Reserve Bank of India, too, asked banks to put in place an escrow mechanism [...]

Professionals from outside Indore are having a hard time getting a suitable accommodation in the commercial capital. The cost of staying is unaffordable in some posh areas like Palasia, Saket and Zanjeerwala crossing. The rental apartments in Indore are way beyond their means. As cost of rental properties in Indore are increasing, tenants are forced [...]

US banking group Goldman Sachs has agreed to take on lease 1.6 million sq ft of office space in Bangalore. This will be the biggest recorded commercial property deal in India. In the first phase of the transaction the investment bank initially taking up one million square feet. Another 600,000 square feet will be taken [...]

DLF Brands has announced the launch of its first multi-brand retail venture AVE.NEU and plans to open 25 outlets across India at an investment of up to Rs 125 crore in the next three years. The retail stores will be opened in cities like Mumbai, Pune, Chandigarh, Surat and Lucknow. According to the planning 10 [...]

Vishwas Bawa Builders inaugurated the residential apartment in Mangalore. Vishwas Planet is constructed near Pandeshwar. 35 flats were constructed in the apartment complex. The entire complex is surrounded with greenery. 2BHK and 3BHK flats were constructed in the project. According to the builder all the apartments were sold out. Rain water harvesting is available in [...]

Rental value appreciation for apartments in Gurgaon, Mumbai, Pune and Bangalore has seen a higher rise. The apartments in Whitefield in Bangalore have recorded a rise of 16 percent for the rental value. The rise of rental rates for residential properties in India has become area specific. As Whitefield continued to be a priority destination [...]

The revenue department of Delhi is going to introduce electronic registration system of sale deeds of properties in Delhi. The municipality will start this electronic system of registration from the Mehrauli sub-registrar office in south Delhi, which covers a large part of south Delhi. Buyers of properties will now be able to take online appointment [...]

It is stated by the builders that the delay in getting clearances for projects is the main reason for escalating the cost of apartments in India. Normally it takes a few months to a couple of years for most projects to get approval. The Chennai Metropolitan Development Authority (CMDA) has introduced the green channel clearance [...]

The Mumbai-based real estate developer DB Realty Ltd has posted lower revenues in the quarter ended 31 March. It is found that the total revenue earned by the builder is reduced to Rs. 97.71 crore from Rs 391.8 crore, while the net profit has increased by 152 percent to Rs 20.26crore. The company has also [...]

Department of Local Bodies in Chandigarh has proposed to charge 10% power bill as property tax for the property owners in urban areas of the state. The government has planned to calculate the amount of property tax based on the power consumption by the owner, not be based on the size of the property. The [...]

Investment in real estate plays a dominant role to the NRIs due to its rate of appreciation and the periodical returns on the investment. According to the new investment norm, NRIs can invest through their representatives in India by giving a power of attorney to act on their behalf. A copy of the power of [...]

Old Mahabalipuram Road is coming up as a new destination for rental apartments in Chennai. Last year the cost of House rents in Chennai were up by about 10-20 per cent. But this year as the supply of houses are exceeding demands, rental values are subdued on the outskirts. The demands for residential apartments in [...]

The white paper submitted by the government in the Parliament, has suggested the introduction of tax deduction at source (TDS) on sale-purchase of properties in India. The finance ministry has prepared the white paper and said that ‘One of the measures for deterring use of the real estate sector for generation and investment of black [...]

New residential project Ivana was launched at Thergaon by the Lakshmi Properties. The new venture, Ivana will be developed with intelligence and comfort. Lakshmi Properties has taken efforts to ensure that the venture stays true to its meaning. The project received a great response at the launch. Ivana will accommodate many distinctive features like a [...]

It is a known fact that real estate development in the property market has grown around the transit systems successfully. Transit systems enhance the quality of life of the community around it. The real estate development for apartments in Bangalore attracts more investors for the projects along the Metro Rail corridor. People from every strata [...]

The western suburb of Mira Road is developing quickly and is one of the most sought-after residential destinations for its good connectivity and affordability. The cost of homes in apartments in Mira Road with G+ 5 storeys and without too many amenities is between Rs 4,000 and 4,500 per sq ft. The cost of homes [...]

Documented property registration in Mumbai, Thane and Pune divisions fell in the last financial year. As per a rough estimate by a real estate analysis firm, at least 40,000 flats have remained unsold in Mumbai and Navi Mumbai areas. The actual number could be higher than that. Though, the amount of stamp duty collected by [...]

It is noticed that many travelers are opting to rent an apartment or villa instead of hotels when they are on a holiday trip. There are so many tourists who started looking for rented villas to spend time. The apartments or villas come with various packages which would either include breakfast and dinner options or [...]

The Nagpur Municipal Corporation (NMC) has planned to fast track the re-valuation and assessment work of properties in Nagpur for tax purposes pending for last many years. This delay is causing lot of inconvenience to the citizens and also losses to NMC. The department is waiting to finalize the decision on property tax based on [...]

Costs of houses in Pune are on the rise. They have gone up 16 per cent in the first three months of the current year when compared to the corresponding period of last year. According to a study it is noticed that property prices in Pune region have escalated, reflecting the overall sentiment of the [...]

The Chennai Municipal Corporation had distributed Property Tax Cards valid for the period between 2007 and March 2012, to 6.5 lakh owners of houses in Chennai and other properties under the old city limits, for records of property tax payments. After the merging of new areas, the city now has 200 wards and the civic [...]

Real estate in the southern part of India has seen stable sales and better than the north. This has happened because of the cautious pricing strategies adopted by local builders in the south Indian cities. Everybody, from banks to realty developers to the first-time buyer feels a lot more comfortable in investing in the properties [...]

Real estate in Bangalore has grown sharply than any other cities in India. The real estate prices in the outskirts of the city have grown faster than the inner city area. The real estate development in the outskirts includes Sarjapur, Hoskote, Bidadi, and Devanahalli areas have grown very rapidly. It is noticed that those who [...]