A White Paper on black money tabled in Parliament on Monday, May 21, has named real estate among others as most vulnerable to menace of black money. Given that land is part of the top black money generators, the white paper suggested that states could consider taxing farm income to curb black money.
Secondary market attracts a significant number of transactions and as per a rough estimate nearly two third home buyers get an apartment in the secondary market.
The data available with Track2Realty suggests that more than half of the property transactions in the last three years have been with the under-construction property. However, purchase of under-construction properties is not as simple as it appears from the standpoint of construction timelines. The process needs extra caution from legal standpoint to make sure the second buyer is not caught between the developers’ vague commitments and the first buyers’ exit without the mandatory processes.
The recent announcement of a memorandum of understanding (MoU) between the Confederation of Real Estate Developers Association of India (CREDAI) and the Karnataka State Fire and Emergency Services (KSFES) Department on fire safety certification has raised quite a few eyebrows in the real estate industry.
IAF Chief Air Chief Marshal Norman Anil Kumar Browne on Monday, September 3, described the grabbing of military land a security threat.
The on-going investigations by CBI into the various business enterprises and real estate assets of 2G Scam accused Shahid Balwa of DB Realty is to now bring the controversial project into the eye of the storm.
The owners of the Mantri Mall have sued the BBMP for Rs 10 crore for ”illegal” demolition of the ramp of the mall and the consequent problems it had caused.