In a major setback to the Mayawati Government and the developers who have projects spread across Noida Extension, the Allahabad High Court today, September, 21, quashed the land acquisition of three villages in Greater Noida.
The fate of housing projects on nearly 5000 hectares of land in the NCR hangs in balance as the Allahabad High Court is scheduled to give its verdict today on the 491 petitions against land acquisitions in Noida and Greater Noida.
The much awaited and largely discussed Real Estate (Regulation & Redevelopment) Bill, pending since 2009, is finally been ready and the Government plans to introduce it in the winter session of Parliament after getting Cabinet approval.
The real estate market may be in a slump with developers innovating ways and means to increase sell, but the festive season seems to be bringing in good cheer for the country’s tallest tower — Lodha World One.
The Andhra Pradesh Government will take all steps to ensure that Hyderabad’s real estate industry bounces back to normalcy soon, said Chief Minister N Kiran Kumar Reddy.
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.