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Have no fears about the Real Estate Regulatory Bill: Girija Vyas
Source: The Times of India Dec 15, 2013
Union Minister of Housing and Urban Poverty Alleviation, Dr Girija Vyas, has assured real estate developers that the Real Estate Regulatory Bill will be suitably modified, if necessary. Speaking at a real estate conclave organised by Confederation of Real Estate Developers’ Associations (CREDAI) in New Delhi, Dr Vyas said the industry should not have any fears about the Real Estate Regulatory Bill. ... more
Building completion certificate goes online in Kolkata
Source: The Times of India Nov 28, 2013
The days of harassment by building department inspectors are over. The completion certificate (CC) process for houses and apartment complexes has gone online. Now, you can expect a CC within seven days of applying for it. The e-process could root out the notorious inspector raj that has thrived in Kolkata Municipal Corporation for two decades. ... more
Iconic Great Eastern Hotel reopens its doors in Kolkata
Source: Livemint Nov 19, 2013
Eight years after the late hotelier Lalit Suri bought Kolkata's Great Eastern Hotel for Rs.52 crore at an auction-although it now turns out he was prepared to pay more-a ritzy property was inaugurated on Tuesday at the site of what used to be Asia's oldest luxury hotel. ... more
REIT: Boon or bane for the Indian realty market
Source: The Times of India Nov 18, 2013
REIT or Real Estate Investment Trust is a pooled investment instrument, like a mutual fund. While mutual funds invest primarily in debt, equity and money markets, REITs invest in real estate projects which are usually completed and are commercial in nature. The market regulator, Securities and Exchange Board of India (SEBI) has recently issued a consultation paper on the draft regulations for REITs. The instrument that is popular in several global capital markets may soon start operating in India as well. This is a much awaited move that is likely to be beneficial for real estate developers and investors alike. ... more
Ensure your house owner furnishes a PAN
Source: Business Standard Nov 18, 2013
A circular issued last month by the Central Board of Direct Taxes (CBDT) has mandated that tenants will have to produce their house owner's Permanent Account Number (PAN) for house rent allowance (HRA) exemptions of Rs 1 lakh or more annually, which works out to a rent of Rs 8,333 or more monthly. In other words, if paying a monthly rent of more than Rs 8,333, you must furnish the PAN details of your house owner to your employer. ... more
Reebok to open 150-300 stores in India in three years
Source: Livemint Nov 13, 2013
Reebok, owned by German sportswear brand Adidas AG, may open 150-300 stores over the next three years in India as it promotes its new retail format and focuses on offering fitness-related products. Reebok, which along with its former senior management is being investigated by Indian regulators for alleged fraud, had introduced a new retail format called the Fit Hub earlier this year in India ... more
Cinepolis to open 500 screens across India by 2017
Source: Business Standard Nov 13, 2013
Mexican theatre chain and international cinema exhibitor Cinepolis has opened its first megaplex of 15 screens in Pune. The company has invested Rs 35 crore in the project. Cinepolis has planned to open 500 screens across 40 cities in India by end of 2017. The estimated investment in this expansion is over Rs 1000 crore. According to company officials, this is India's first foreign direct investment (FDI) project in multiplex chain. ... more
New phone apps give homeowners smart-home security
Source: The Economic Times Nov 11, 2013
Home owners worried about security while they are at work or on vacation have a range of new smartphone apps to help them remotely monitor their property and to notify them if there is a problem. In the United States in 2012 there were more than 2 million burglaries, or about one every 15 seconds, according to government crime figures. ... more
Points to note during sale of mortgaged property
Source: The Economic Times Nov 11, 2013
It is usually a challenge to sell a mortgaged property as all property documents are kept by the lender. The owner can sell the property only when the loan is paid back and the documents are released by the lender. Though the seller may use photocopies of these documents to initiate a deal, the sale cannot be fully executed till such time the loan is outstanding with the bank. The seller may have to seek funds from the buyer to first pay off his loan and get the documents released. ... more
What to do in case of theft or misplacement of property documents
Source: The Economic Times Nov 04, 2013
The loss, theft or misplacement of property documents is a cause of concern for property owners since no transaction can be completed without checking the original sale deed. It is typically regarded as the sole proof of ownership of property. In case of loss, the owner must get the duplicate documents so that the chances of misuse are minimised. ... more
Compact Cities: The way forward for Indian realty
Source: The Times of India Sep 10, 2013
"The urban population of India will increase by 75 per cent by 2030 and the top five cities of the country would be forced to accommodate almost 50 per cent of the urban population," says Ankur Pandhe, MD, Pandhe Group. With such growth in the urban population, clearly there is a need to introduce the concept of high-density land planning. In other words, plan for 'compact cities'. ... more
7 Tips for Safe Property Purchase
Source: Axiom Estates Jul 18, 2013
It is important to ensure the developer from whom the booking is done is the clean owner of the land of the development. Checking of such document is a tedious process and sometimes the developer may not like to produce such land documents. ... more
Tag: Others News, Real estate, Property, Buying property
WB government working on digitization of land use map
Source: The Times of India, Kolkata May 13, 2013
The state land use board under the land and land reforms department has completed digitization of zoning land in Hooghly, Howrah, South 24 Parganas, Nadia, East Midnapore and Murshidabad districts. ... more
Big discounts on resale flats
Source: The Times of India Apr 01, 2013
The resale market offers new properties and those under construction at a discount to those being offered in the same projects. ... more
Tag: Others News, Resale, Property, Real Estate
OMAXE Ltd CMD asked to appear before National Green Tribunal for violating order
Source: PTI Feb 10, 2013
The Chief Managing Director of real estate developer OMAXE Ltd BSE 1.43 % has been directed by the National Green Tribunal (NGT) to appear before it for alleged violation of its order restraining use of ground water during construction activities in Noida and Greater Noida. ... more
Tag: Others News, india real estate, delhi properties, delhi NCR real estate
Aman New Delhi hotel renamed The Lodhi
Source: ET Bureau Feb 01, 2013
At midnight on Thursday, the elitist Aman New Delhi hotel in the western fringes of Lutyen's Delhi, was renamed The Lodhi, a throwback to its former name (Lodhi Hotel) when it was owned by the government. ... more
Tag: Others News, real estate of india, delhii real estate, Robert Vadra
Steps tenants should take to avoid being charged arbitrarily by housing society
Source: ET Bureau Jan 14, 2013
When Karan Singh leased an apartment in a plush housing society in Mumbai a year-and-a-half ago, little did he realise that he would have to face problems. When he moved in, he was asked to pay a monthly fee of Rs 1,000 and Rs 1,500 for two parking spaces for his cars. After three months, the rates were hiked to Rs 1,500 and Rs 2,000. ... more
Tag: Others News, property buying in india, real estate trends, property of india, real estate in india
Homestead Infrastructure launches 'Michael Schumacher World Tower' in Gurgaon
Source: ET Bureau Oct 26, 2012
Homestead, the London-based real estate player and a pioneer in branded luxury residences, announced the launch of the ' Michael Schumacher World Tower' in Sector 109, Gurgaon. ... more
Tag: Others News, india real estate, delhi properties, delhi NCR real estate, gurgaon properties
Sahara seeks review of Supreme Court's ruling to refund Rs 17,400 crore to investors
Source: ET Bureau Oct 06, 2012
Sahara Group on Friday sought a review of the Supreme Court's August 31 order asking it to refund to investors within three months Rs 17,400 crore raised by its two companies along with 15% interest. ... more
Tag: Others News, sahara group, indian realty trends, indian real estate
South India's tallest residential tower Choice Paradise completed
Source: ET Bureau Sep 24, 2012
South India's tallest residential tower, the 450 ft Choice Paradise, has been completed by Choice Construction at Tripunithura 15 kms from here. ... more
Tag: Others News, property buying in india,Indian real estate, property of india, kochi real estate, Choice Paradise
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