Valuation of immovable properties owned under general power of attorney (GPA) might fall by about 20 percent as the Supreme Court has declared the sale of properties through this deed illegal, industry experts said Friday.
The real estate sector has expressed guarded optimism on Supreme Court ruling that terms as “illegal” any sale of immoveable property through power of attorney (POA) unless the case is “genuine”.
The third annual global Energy Efficiency Indicator (EEI) shows that building owners and operators throughout India continue to place higher importance on energy management in comparison to their peers in other major countries.
The level of FDI in the real estate sector is unlikely to show a quantum jump this year, courtesy a slow GDP growth rate, high debt levels of the real estate developers, labour shortage and economic crisis in the US and Europe.
Service Tax Commissioner Sushil Solanki has clarified that developers will have to file their service tax returns.
The Government has asked private real estate developers to participate in creating affordable housing stock and help in making India slum-free.
Retail chains across the country are signing up for space in a big way, after a long pause that had followed the economic downturn.
The south Indian hospitality market would see an addition of 14,500 new rooms in 178 star hotels across southern states by the end of year 2012.
CREDAI, Hyderabad has given a number of suggestions, including developing townships in the peripheral areas, strengthening the transportation system, to help the GHMC fine-tune the proposed master plan.
Punjab’s first planned eco city, christened New Chandigarh by the State Government, has started to buzz with the major real estate developers and housing societies.