IT notice to MMRDA, CIDCO
The Income Tax department has sent notices to real estate companies, MMRDA, CIDCO stating that all land lease sales or transfers attract a 10% tax, sources said.
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India’s housing markets mixed, says Global Property Guide
Interest rate rises are beginning to bite in India, and housing markets in major cities weakened in 2010, says a report by the Global Property Guide.
RICS says commercial property demand to go up in 2011
The demand for commercial property in the country is expected to remain robust in the first half of 2011, boosted by strong manufacturing activities, says a survey by RICS India Commercial Property Survey.
Century raises 200 crore from Kotak
Bangalore-based Century Real Estate has raised Rs.200 crore from Kotak Realty Fund, the property investment arm of Kotak Mahindra Bank, through a private placement of non-convertible debentures (NCD).
Ashiana Housing launches resale & rental services
Ashiana Housing strengthening its Facility Management arm, has launched resale and rental services for Ashianaites.
Realtor may be barred for altering financial conditions
The finance ministry has asked the central bank to bar real estate firms from seeking banking licences and alter conditions relating to financial inclusion and stake dilution by promoters.
CII urges capital flow in housing
The Confederation of Indian Industry (CII) has said there is a need to improve the infrastructure and increase in flow of capital in the housing segment, given the increase in the land prices.
DLF, Unitech to miss FY 11 sales target
Indian real estate majors, DLF and Unitech, are set to miss their FY11 sales target, despite prices reaching the highs of 2007. Mid cap names like HDIL, Ackruti City and Sobha Developers are however on track to meet their targets.
ED raids realtor Hasan Ali’s CA residence
The Enforcement Directorate (ED) today, March 23, carried out searches at the Pune residence of Sunil Shinde, the chartered account of realtor and stud farm owner Hasan Ali Khan, who is facing charges of money laundering and tax evasion.
Realtors protest new bill
Real estate developers have expressed their reservations to the proposed Real Estate Bill 2011, which is likely to see light by this year-end.