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West Bengal keen to reclaim unused land
Source: The Times of India Sep 10, 2015
Jalpaiguri has the highest number of land-locked closed industries, about 16,000 acres as per a recent government survey followed by Nadia and North 24-Parganas. The state government plans to unlock these huge tracts of land to develop alternative industries across the state. The group of ministers has been formed recently to work out as to how the land could be freed from closed industries and utilised for developing alternative industry units with an objective to develop more employment opportunities before the next assembly elections. ... more
US companies may partners with West Bengal for smart cities
Source: The Times of India Sep 10, 2015
With four smart cities coming up in Bengal, US based multinationals like HP, Cisco and Otis have shown interest in partnering with the state. According to sources, these companies are actively looking into technological collaboration with the state government agencies to get the proposed smart cities rolling. ... more
Rajarhat green buildings to house govt offices
Source: The Times of India Aug 29, 2015
In a bid to develop Rajarhat New Town as a green and smart city, the Housing Infrastructure Development Corporation (Hidco) will set up two new utility buildings in the township that will be developed as green buildings. The new buildings will be set up following specifications recommended by the green building technical committee of the state urban development department. Two utility buildings have already been constructed in the township. Each of the new buildings will have an area of 1,500 square metres. ... more
4 municipalities get smart city clearance
Source: The Times of India Aug 29, 2015
The Centre has cleared the names of four municipalities — Salt Lake, New Town, Haldia and Durgapur — to be developed as smart cities on 27th August. Under the smart city scheme, 100 cities will be developed. State urban development secretary Debashis Sen said, "We came to know from Delhi that our proposal was approved and now we are selecting consultants for developing the smart cities. The consultants will design the smart city plan and the cities will get 20% of the project money right after approval. ... more
Source: The Times of India Aug 29, 2015
People in their middle age, who have not managed to buy a house until now, can now get a long-term loan with ICICI Bank introducing a product for this segment.This has been made possible with the help of a guarantee from a company promoted by National Housing Bank and US insurer Genworth Financial. Unlike standard loans which are not available beyond the retirement date of a borrower, ICICI Bank's Extraa Home Loans al lows home loans that are re payable up to 67 years of age. ICICI Bank has tied up with the newly promoted India Mortgage Guaran tee Corpora tion (IMGC), which will guarantee the repayment of the loan. The fee for the guarantee, around 1% of the loan amount, will be built into the EMIs. Now, bor rowers up to 37 years of age can avail of a 30-year loan. ... more
Kolkata home buyers need affordable properties
Source: The Times of India Aug 27, 2015
Kolkata home buyers are looking for affordable properties, reveals the latest edition of the Housing Sentiment Index (HSI), Apr-Jun 2015, a joint initiative by IIM-B and Magicbricks. As per the report, respondents have favoured the Rs 20-40 lakh and below Rs 20 lakh categories as the most preferred price range at 37 per cent and 28 per cent, respectively. Interestingly, both these categories have noted a dip in sentiments, which means buyers in Kolkata are expecting property prices to fall further. Take a look at the affordable properties of Kolkata. ... more
Now get e-sanction of building plans in Kolkata in 45 days
Source: The Times of India Aug 25, 2015
The long awaited initiative to sanction building plans online has now become a reality in Kolkata with Mayor Sovan Chatterjee launching the initiative on 19th August.Online sanctioning of plans is expected to reduce the time taken to sanction a building's plan. With this initiative the existing time to acquire approval for building plan would be reduced from the existing limit of 3 months to 45 days. Three applicants have already received online sanctions for buildings in Swinhoe Lane and Canal Road (south) on 19th August. ... more
KMC revives Bypass land-sale plan
Source: The Times of India Aug 25, 2015
The Kolkata Municipal Corporation (KMC) will undertake a re-tender process to sell a huge chunk of land off Eastern Metropolitan Bypass. The KMC authorities in August 2014 had invited a tender for the sale of the land behind Silver Spring but had to retreat as there was hardly any bidder. ... more
Affordable homes offer $11.8 billion opportunity for builders
Source: The Times of India Aug 25, 2015
Affordable home segment presents a business opportunity worth USD 11.8 billion for developers across seven major cities of the country, according to property consultant Cushman and Wakefield. Cushman and Wakefield (C&W) has pegged the demand for affordable housing at 5,35,400 units across Delhi-NCR, Mumbai (MMR), Bengaluru, Chennai, Hyderabad, Kolkata and Pune. ... more
New supply hits Kolkata’s Rajarhat and neighboring
Source: The Times of India Aug 05, 2015
Rajarhat a neighbourhood locality to Kolkata city, is known to be a fast growing and well-planned city state. The satellite city is highly preferred in real estate terms. It has been experiencing investments from people of the state capital and other areas of West Bengal. ... more
Prices falling, sector hopeful for revival
Source: The Times of India Jul 03, 2015
For the past half-decade, the real estate sector had been reeling heavily under the severe pressure of decreasing demand, slowdown in economy and soaring property prices across the country, primarily in metro regions such as Delhi/NCR, Bengaluru, Kolkata, Mumbai and others.It was just a matter of time when the saturation would be reached and customers will start disappearing from the market. Indian realty sector had really started to witness such a scenario where the demand for property was actually hanging by a thread and customers were unable to buy a property due to unaffordable prices and economical dampness. ... more
Top 3 areas in Kolkata with new housing stock
Source: The Times of India Jul 03, 2015
Are you contemplating to invest in Kolkata? Unsure about the locality? Wondering whether you should invest in the city? It seems to be a good time to invest in the city. Localities such as Garia, Behala and Tollygunge are offering the highest number of new residential projects. Not just a lot of options, the budget range and configuration of residential units is also varied. Buyers and investors have the luxury of preference of new and under-construction projects. According to the data with Magicbricks, the above mentioned localities offer over 40 new projects housing apartments, house and villas.Here’s a summary of what you can expect in: ... more
Things have started to gain momentum
Source: Financial Chronicle Jul 03, 2015
The year started on a cautious note as the real estate industry in India continued to suffer from oversupply, low absorption levels and rise in unsold inventory along with high prices. The business confidence of the sector slightly improved with the home buyers preferring to invest in larger homes across cities.The improvement in economic conditions along with government policies and initiatives towards increasing the purchasing capacity of the individuals will most likely pave the way for faster growth in the coming months. ... more
West Bengal govt's policy for theme townships
Source: The Times of India Jul 01, 2015
The state government has come up with the terms and conditions for developers and investors to follow for setting up theme based townships. The proposed theme based townships will be developed based on the new 'Township Policy' that encourages developing theme based townships with special focus on economic activities as well as providing housing for all. ... more
Centre plans to give Rs 25,000-30,000 crore for road development to West Bengal
Source: The Economic Times Jun 25, 2015
Centre is planning to give Rs 25,000-30,000 crore bonanza for road infrastructure to West Bengal. 'We want to give another Rs 25,000-30,000 crore to West Bengal for new highways,' Union minister for Roads and Transport Nitin Gadkari said today at an event at Biodiesel dispensing unit at Haldia Dock Complex. ... more
'Housing for all by 2022' scheme gets approval
Source: The Hindu Business Line Jun 18, 2015
The Government has paved the way for the launch of 'housing for all by 2022' scheme aimed at the urban poor. A decision to this effect was taken by the Union Cabinet on Wednesday. ... more
The 'view' that sells properties
Source: The Times Of India Apr 24, 2015
One of the renowned developers in East Coast Road (ECR), Chennai is asking between Rs 70 lakh and Rs 1 crore for 2 and 3BHK apartments with a sea-view while another developer in Bangur Nagar, Mumbai is demanding around Rs 80 lakh for 1BHK flats with a sea-view. ... more
Solar panels to give green cover to govt buildings in Kolkata
Source: The Times Of India Apr 24, 2015
The state government has decided to install rooftop solar panels in as many government buildings as possible across the state so that at least one fourth of the total power demand of these buildings can be met through the alternative route. ... more
India Infoline Housing Finance cuts home loan interest rate by 25 bps to 9.90%
Source: The Financial Express Apr 16, 2015
Private sector housing finance company India Infoline Housing Finance Ltd (IIHFL) has cut the interest rate on its home loans by 25 basis points to 9.90%, from 10.15% earlier. The reduced rates will be applicable with immediate effect. ... more
Tata Housing likely to invest Rs 2,000 cr on new projects in 2015
Source: Hindustan Times Apr 16, 2015
Banking on falling interest rates and a reviving economy to boost a thus-far sluggish housing market, Tata Housing Development Company (THDC)plans to launch at least 10-12 new properties this year, up from about seven in 2014. ... more
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