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Kolkata buyers prefer apartments over standalone houses
Source: The Times of India Dec 02, 2014
When it comes to buying a house across India, apartments are known to be the most preferred property type. Kolkata property buyers are no different. Over the standalones available in large numbers in Jadavpur locality, the home buyers here prefer apartments. “There is a considerable supply of standalone buildings in Jadavpur, but right from enquiries to the final transaction, the buyers are moving towards well developed apartments in a complex/gated community,” says Anish Biswas, consultant, Transventor Management Services Pvt Ltd. ... more
Real estate v/s stocks, gold: Which is right for you?
Source: The Times of India Dec 02, 2014
With many options of INVESTMENT available in the market, real estate buyers and investors would like to know which is better - real estate or stocks or mutual funds or investing in the yellow metal. Which would you prefer for your FINANCIALportfolio? What should you keep in mind before investing? Each type of investment has its pros and cons. There are several aspects of each that make them unique investments in their own way. To advise and guide you on the same, Magicbricks organised GuruTalk - a live chat session with Kalyan Chakrabarti, managing director, Red Fort Capital. The topic of the session was ‘Real estate V/s other investment options, in today’s market’. ... more
Reserve Bank of India eases rules for low-cost home loans
Source: The Economic Times Dec 01, 2014
The Reserve Bank of India has eased norms to fund low-cost housing by permitting banks to extend loans against long-term infrastructure bonds. The Reserve Bank of India however barred lenders from providing loans against long-term infrastructure bonds issued by other banks. ... more
Ministry may end 3-year lock-in for foreign investors in construction
Source: The Economic Times Nov 25, 2014
Overseas investors could get a free run in the construction and development sector with the government considering removal of the three-year lock-in for the overseas investments. The housing ministry's latest proposal is now being examined by stakeholder ministries, including the Department of Industrial Policy and Promotion (DIPP). ... more
Interest subvention scheme for housing sector soon: Venkaiah Naidu
Source: The Economic Times Nov 25, 2014
The government will soon launch an interest subvention scheme in the housing sector that will meet part of the buyer's home loan burden, Union urban development minister M Venkaiah Naidu said on Monday. Speaking at the annual Confederation of Real Estate Developers' Associations of India (CREDAI) Conclave, Naidu said the scheme will benefit home buyers in the middle and lower income groups besides those belonging to the economically weaker section (EWS) category. ... more
Real Estate Bill to be reality soon: Venkaiah
Source: The Hindu Business Line Nov 25, 2014
The Real Estate Development and Regulation Bill is in the final stage of consultation after talks with various stakeholders, Urban Development Minister M Venkaiah Naidu said on Monday. “I have gone through the draft yesterday. Once the Cabinet approves the Bill, I am hoping for early clearance. If not this Winter session, then by Budget session of Parliament, the Bill will be a reality,” he said. ... more
Tollygunge gains preference among buyers!Tollygunge gains preference among buyers!
Source: The Times of India Nov 17, 2014
Tollygunge, a locality famous for golf clubs, has been included in the list of top ten preferred localities for sale, as per the latest PropIndex (Jul-Sep 2014), the India Apartment Index by Magicbricks. While it was a consistent name in the list of top ten preferred localities for rent for the last nine months, this is the first time it has entered the sale list as well, during the same quarter. Currently, the locality is offering comparatively affordable capital values and high rental returns, attracting both end-users and investors. ... more
FIXED-RATE LOAN IS BACK!
Source: The Times of India Nov 08, 2014
After a long time, the fixed rate home loan is back in the MARKET. Over the last few years, the interest rates on housing loans have been gradually increasing. Even though they stabilized over the last couple of years, there were not many banks offering a fixed-interest rate loan. In case of a fixed-rate loan, the rate of interest is decided before hand at the time of availing the loan.The rate remains the same during a fixed part of the tenure of the loan irrespective of the MARKET rates. In case the interest rate goes up, the borrower still pays the prior agreed lower rate. In case the interest rate goes down, the borrower loses as he has to pay a higher rate com pared to the MARKET rate. ... more
KMC to waive 50% interest on property tax dues
Source: The Times of India Nov 08, 2014
Those who missed out on the property tax waiver scheme offered by Kolkata Municipal Corporation in February 2012, needn’t lose heart. Desperate to win citizen’s favour before the civic polls, the Trinamool Congress-run KMC board is all set to offer another waiver to the property tax defaulters. ... more
Jadavpur realty, a preferred choice for professionals
Source: The Times of India Nov 08, 2014
If you are a professional looking to live in a developed part of Kolkata with proximity to work spaces, then Jadavpur can be considered as an option. The area has showed a considerable rise in capital values, making it top the list of buyers looking for capital appreciation. Jadavpur is the only area to garner the highest rise of eight per cent in capital values, unlike other localities with a minimum rise of 2-3 per cent, as per PropIndex (Jul-Sep 2014), the India Apartment Index by Magicbricks. ... more
Housing prices rise in 18 cities by up to 3.9 per cent: NHBHousing prices rise in 18 cities by up to 3.9 per cent: NHB
Source: The Times of India Nov 05, 2014
Housing prices appreciated in 18 major cities by up to 3.9 per cent in April-June over the preceding quarter while property rates fell in six cities including Delhi, according to National Housing Bank (NHB). In the national capital, housing prices dropped by 3 per cent during the first quarter of this fiscal compared with the January-March 2014. ... more
Land acquisition law may be eased for PPP projects
Source: Business Standard Nov 05, 2014
The National Democratic Alliance government is planning to exempt public-private partnership (PPP) projects from the need to obtain consent of affected families and the mandatory social-impact assessment, through amendments to the land acquisition law. In the Bill put up by the previous government and passed by Parliament, PPP projects need consent of 70 per cent of affected families and have to study the social implications in the neighborhood. ... more
New Garia metro to work for local real estate
Source: The Times of India Nov 01, 2014
The 32 km metro extension from New Garia (Kavi Subhash Station) to Subhash Chandra Bose International Airport (Biman Bandar Station) is finally nearing completion. After much delay, the construction has picked up pace. This is expected to not only enhance connectivity but also push up property prices in the area. ... more
NRI investments seek OUT INDIAN REALTY
Source: The Times of India Oct 25, 2014
The way the Indian realty sector has emerged and developed in the recent past is exemplary. This sunshine sector is now becoming one of the most preferred investment options for many, including businesses and individuals alike. This growing industry has now become the current favourite of NRIs who are very eagerly investing in properties in their homeland. ... more
Best time TO BUY A HOUSE!
Source: The Times of India Oct 25, 2014
There are distinct pointers that suggest that the Indian real estate market is in recovery mode in the current festival season. Developers like Gaursons, Supertech, Amrapali, Unnati Fortune Group, KV Developers, etc, say that not only enquiries but transactions too have picked up by around 15% in this period. ... more
Jaitley calls for interest rate cut, says it will trigger growth
Source: The Times of India Oct 24, 2014
For the first time in four months, finance minister Arun Jaitley has called for a reduction in interest rates, saying lower rates would trigger demand for homes. "Currently, interest rates are a disincentive. Now that inflation seems to be stabilizing somewhat, the time seems to have come to moderate the interest rates," ... more
Jain group launches affordable housing project in Kolkata
Source: The Hindu Business Line Sep 02, 2014
Real estate company, Jain Group, had on Monday launched its affordable homes project - Dream Pratham - in Madhyamgram, a few kilometers north of Kolkata. The group is likely to invest Rs. 50 crore in the project. It is also eyeing an investment of approximately Rs. 250 crore in similar mass housing projects. The apartments are priced between Rs. 18 lakh to Rs. 22 lakh, according to a release issued by the company. ... more
Lighten your tax burden from sale of real estate
Source: The Financial Express Sep 01, 2014
Capital gains tax is an aspect that every property seller needs to consider in a cost-sensitive MARKET. The amount of capital gains tax depends on the time period the property is held on to. If the property is sold after three years of purchase, the resultant gains (known as long-term gains) are taxable at a fixed rate of 20%. When it comes to long-term capital gains, the acquisition cost of the asset is recalculated based on indexation, which factors in inflation in its calculation by using the Cost-Inflation Index. The benefit is that tax on a long-term capital gain is taxed only at 20% after indexation. This brings down the amount of tax payable considerably compared to short-term capital gains tax. ... more
Tokyo to give $35 billion for infrastructure projects
Source: The Financial Express Sep 01, 2014
India will get $35 billion from Japan over the next five years for developmental projects, including building of smart cities and next-generation infrastructure, as Premier Shinzo Abe on Monday pledged to partner Prime Minister Narendra Modi’s “ambitious” vision of inclusive development, reports PTI. ... more
Bengal SEZs’ export income rises to touch Rs 15,000 cr in 2013-14
Source: The Hindu Business Line Aug 31, 2014
Special economic zones (SEZs) in West Bengal have generated export income to the tune of Rs 15,000 crore in FY 2013-14. According to Sanjeev Nandwani, Development Commissioner, SEZs (Eastern and North Eastern Zone) the gems and jewellery segment contributed Rs 9,000 crore, the manufacturing one at Falta contributed Rs 1,800 crore and IT contributed around Rs 4,200 crore. ... more
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