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KMC building rules
Source: The Times of India Aug 05, 2014
Get your facts corrected before you want to submit your building plan before the Kolkata Municipal Corporation for necessary sanction before you begin the construction. And don’t plan to start construction before submitting your plans though the construction may be of minor nature. ... more
Individual 'can buy' immovable properties aboard under LRS
Source: Business Standard Jul 17, 2014
The Reserve Bank of India (RBI) clarified on Thursday resident individuals can buy immovable properties outside the country under the Liberalised Remittance Scheme (LBS). Under the scheme, remittances of $125,000 per year was allowed by the regulator last month, which was increased from the earlier $75,000 per year. The central bank had reduced the limit from $200,000 last year as the rupee weakened sharply against the dollar. ... more
Now, no penalty for pre-paying your loans
Source: The Hindu Business Line May 07, 2014
Now you can pre-pay your home loans, vehicle loans or personal loans without having to worry about what your bank might charge you as penalty. The RBI has directed banks to not levy any penalty on individual borrowers pre-paying floating rate term loans. ... more
Tata Capital offers special home loan rates for women
Source: The Hindu Business Line Feb 10, 2014
Tata Capital Ltd’s housing finance subsidiary, Tata Capital Housing Finance Ltd, has announced a special home loan offer for women. “This special scheme offers an interest rate of 10.15 per cent for loans up to Rs.40 lakh obtained till Women’s Day, that is, March 8, 2014, the normal rate of interest being 10.50 per cent,” Tata Capital said in a statement. ... more
ANMI Convention on sustaining growth in turbulence
Source: The Times of India Jan 06, 2014
Focusing on the twin issues of domestic investors’ role and challenges for regulators, the Association of National Exchange Members of India (ANMI) will hold its 7th annual international convention on January 10 and 11, 2014 in the capital with the theme being “Sustaining investment growth in turbulent economic scenario”. ... more
Idle Rajarhat plots in Kolkata to attract 10% penalty
Source: The Times of India Dec 16, 2013
In an effort to buck the trend of keeping commercial land in Rajarhat New Town idle for years, Hidco will impose 10% of the land price as penalty for each year of delay after keeping the plot unutilized for three years. ... more
Land Acquisition Act to come into force from January 1
Source: The Economic Times Dec 16, 2013
The new Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1, Rural Development Minister Jairam Ramesh said. He said that the rules of historic legislation replacing a 119-year-old act have been approved by the Law Ministry. "They (rules) will be put into the Gazette tomorrow and the Land Bill will be notified as of January 1, 2014," the minister said. ... more
CMC nod to building growth
Source: The Telegraph Oct 31, 2013
The civic body on Wednesday passed a resolution to allow 25 per cent additional construction in two-storey buildings and 15 per cent in three-storey buildings against a token payment of Rs 100. The additional construction will be based on the total floor area of the original building plan. The owner has to submit a plan to the civic body for approval before beginning the additional construction. ... more
Reserve 20% area for low-income housing
Source: The Times of India Oct 07, 2013
A year after the state stalled its draft notification following objections from developers, it is set to issue a the final notification making it mandatory for developers to reserve 20% of areas of more than over 2,000 sqm for affordable housing. While the chief minister is yet to give his nod, the final notification may see some more changes pertaining to the minimum plot area and incentive FSI offered to developers under the scheme. Sources said the government may increase the plot area on which the scheme can be implemented from 2,000 sq m to over 3,000 sq m by increasing the incentive floor space index The government is learnt to be firm on purchasing the 20% per cent reserved area in form of land or flats from the developers on cost of construction and not market rate. ... more
Real estate: Supreme Court order to hike home prices
Source: The Financial Express Oct 07, 2013
In a recent judgement, the Supreme Court has upheld VAT for property under construction. While developers gear up to pay, buyers should be prepared for the additional bill and be ready to ask critical questions. This week the Supreme Court held that state governments can levy a value added tax (VAT) on the cost of building a flat when property developers sell it to buyers. The decision has rocked developers, given enough reasons for tax firms to hold con calls like the way they did for the Vodafone retrospective tax judgement case and made the price of a flat just that much more costly for buyers. The issue is again retrospective impact but this time it is the courts that have held that past purchases can be re-opened too. ... more
Green Building Congress to take up issues relating to futuristic cities, habitats
Source: The Hindu Business Line Oct 02, 2013
The Indian Green Building Council will host a four–day international conference on ‘Futuristic green habitats and technologies’ at Chennai Trade Centre during October 24-26. The 11th edition of Green Building Congress 2013 provides a platform for the stakeholders in the country’s construction industry to attend, share and network and explore new opportunities, according to S.Raghupathy, Executive Director of IGBC. ... more
Lease leash on New Town plots
Source: The Times of India Sep 23, 2013
... more
Company is not going bankrupt: HDIL
Source: ET Bureau Jan 24, 2013
Mumbai-based realty developer Housing Development Infrastructure (HDIL) on Thursday said that the company is not going bankrupt. The statement came soon after the company stock dropped over 30% in three trading sessions and hit its lowest since September 17, 2012. ... more
Tag: Announcements News, india real estate, real estate markets, indian real estate, realty trends, HDIL
Delhi Development Authority to triple floor area ratio, city to go vertical
Source: ET Bureau Jan 23, 2013
Delhi's planning body may allow houses that are built for the poor and middle-class to go vertical by tripling the floor area ratio (FAR) from 200 to 600, as the city copes with growing housing shortage, government officials said. ... more
Tag: Announcements News, india real estate, delhi properties, delhi NCR real estate
HDFC Bank likely to buy office space in Lower Parel for Rs 220 crore
Source: ET Bureau Jan 04, 2013
In one of the largest outright office space deals, HDFC Bank is close to buying nearly 1.3 lakh sq ft of commercial space spread over four floors in Peninsula Business Park at Lower Parel in central Mumbai, according to persons who are involved with the transaction. ... more
Tag: Announcements News, india real estate, real estate markets, indian real estate, realty trends, real estate in Mumbai, HDFC Bank
Piramal Realty-Famous Studio joint development pact may get called off
Source: ET Bureau Dec 12, 2012
The proposed joint development agreement between Piramal Realty and owners of Famous Studio at Mahalaxmi in south Mumbai may get called off, said persons familiar with the development. ... more
Tag: Announcements News, india real estate, real estate markets, indian real estate, realty trends, real estate in Mumbai, Famous Studio, Piramal Realty
Tata Housing sells 150 housing units for Rs 350 cr in Gurgaon
Source: PTI Dec 04, 2012
Tata Group's realty firm Tata Housing Development Company Ltd today said it has sold 150 luxury homes for Rs 350 crore at Gurgaon within just two days of launch. In a statement, the company said it has sold the entire second phase of its 36-acre premium luxury housing project 'Primanti' within two days of the launch. ... more
Tag: Announcements News, india real estate, delhi properties, delhi NCR real estate, gurgaon properties
CIBIL and CERSAI to join hands to help lenders with credit worthiness of realty
Source: ET Bureau Dec 01, 2012
Credit Information Bureau (India) Ltd or CIBIL is joining hands with a government established central registry for mortgaged properties to offer lenders a single window facility to check credit worthiness and legal status of a property. Both the organization will sign an agreement to this end on Monday next. ... more
Tag: Announcements News, property buying in india, real estate trends, property of india, real estate in india, CIBIL,CERSAI
A 10−storey building in 48 hours?
Source: IANS Nov 28, 2012
Chandigarh, Nov 28 (IANS) A 10−storey building, set to come up in just 48 hours! A businessman in Chandigarh claims it is possible, and he will prove it. ... more
Tag: Announcements News, indian properties, indian real estate, punjab properties, real estate of punjab, chandigarh properties
Realty regulator will breed corruption, dry liquidity: Credai
Source: PTI Nov 21, 2012
Real estate developers body Credai today criticised the proposed Real Estate Regulatory Bill, which is expected to be tabled in the Winter Session of Parliament beginning tomorrow, saying it is 'anti-people'. ... more
Tag: Announcements News, property buying in india, real estate trends, property of india, real estate in india, CREDAI
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