Asian property folio growth to beat US
Global companies said their real estate portfolios will grow most in Asia by 2013, boosted by the powerhouse economies of China and India, with those in more mature markets trading sideways, a survey said.
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Land mafia violating all norms in Hubli-Dharwad
Land mafia has surfaced in the twin cities of Hubli and Dharwad of Karnataka in a big way. They are converting agricultural lands into residential plots without the CLU (Change of Land Use) and other required approvals from the concerned authorities and are selling to gullible people.
Housing scam in Uttarakhand to be probed by judicial commission
Uttarakhand government has set up a judicial commission on the High Court orders to investigate the role of some officials in the Rishikesh-based housing project.
Pune Municipal Corporation gets Rs 400 crore in property tax
The Pune Municipal Corporation (PMC) has set a record by recovering property tax of Rs400 crore till March 3. More tax is likely to be collected in the remaining days of the current financial year. The civic body had collected Rs108.99 crore in property tax in fiscal 2000-01.
Overseas realty funds drying up
With only $400-500 million of foreign funds flowed into the Indian real estate sector in 2009-10, the outlook ahead seems to be far from being rosy.
Anant Raj Group Chairman questioned by CBI
The CBI has questioned chairman of Anant Raj Group, a Delhi-based real estate company, Amit Sarin, and Idea Cellular CEO Sanjeev Aga in connection with its probe into the 2G spectrum allotment scam.
Oversupply of retail space set to keep rentals under pressure
A mammoth increase in planned supply of retail malls in India will increase retail companies’ bargaining power vis-à-vis real estate developers.
Tata Housing to invest 3000 crore on affordable housing
Tata Housing Development Company would invest up to Rs 3,000 crore next fiscal to develop affordable homes across the country. The company already has five projects in the affordable segment and plans to launch 7-8 more projects next fiscal.
Tax subvention to improve housing shortage: Manoj John, VP, RNA Corp.
The favourable budget outcomes are enhancement of priority home loan limit to Rs. 25 lakhs from Rs. 20 lakhs and extension of interest subvention of 1% up to Rs 15 lakhs.
Commendable job by focus on infra dev: RICS
Backed by strong economic growth and impressive fiscal consolidation, the Royal Institution of Chartered Surveyors (RICS) believes that the finance minister has done a commendable job by continuing the focus on infrastructure development, which has been a key contributor to the inclusive growth in the country.