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Indian Real Estate News
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Kolkata: Where to find home in your budget
Source: The Times Of India Apr 14, 2015
Majority of the buyers in Kolkata were looking for properties worth Rs 20-40 lakh during the Jan-Mar 2015 quarter, according to the data available with Magicbricks. Its supply however remained low across the city. But home buyers need not be disappointed as Magicbricks brings you the list of localities which have availability of properties within the said budget. ... more
Government plans two immersed tunnels through sea, river in Andaman & West Bengal
Source: The Economic Times Apr 14, 2015
India may get the first two immersed tunnels through sea and river in the next few years. The shipping ministry has envisaged these projects — one between Kakdwip and Sagar island in West Bengal and the other connecting Chatham and Bamboo Flat in Andaman Nicobar islands. ... more
Why you should invest in a second home?
Source: The Times Of India Apr 13, 2015
There is no doubt in the fact that real estate price appreciation is not just beating the inflationary pressure but is also offering the buyer good returns provided that the location and policies favor the realty eco-system. ... more
Guidelines to NRIs for buying property in India
Source: The Times Of India Apr 13, 2015
Thrilled by the steps taken by the central government, there are many Non Resident Indians (NRIs) or Person of Indian Origins (PIO) who are looking to invest in the real estate market of India. However, many remain unaware of the procedures and implications related to property purchase. ... more
Kolkata: Where to invest Rs 43L to earn Rs 2L per year
Source: The Times Of India Apr 10, 2015
If you are an investor looking to earn healthy rental returns in Kolkata, then investing in Tollygunge and Narendrapur can be a viable choice for you. According to the data available with Magicbricks, these localities are currently offering some of the highest rental returns in the city. ... more
Industry welcomes Real Estate Regulatory Bill
Source: The Times Of India Apr 09, 2015
Manoj Gaur, MD Gaursons India Ltd. & President CREDAI Western UP: We welcome the nod on the Real Estate bill from the cabinet as it will send out the positive signs. This bill will help in keeping a check on the developers who are indulge in the malpractices which is effecting the image of the sector among the buyers and investors as well. It would have been much appreciated if the Real Estate Regulatory Authority was granted limited controlling authority. However, we will propose our inputs to the government which can be added in the bill to make it more effective from the buyers and developers point of view? ... more
Good news for home buyers! Nod for amendments to Real Estate Bill
Source: The Times Of India Apr 09, 2015
The Union Cabinet has approved the Real Estate Development and Regulation Bill along with certain key amendments that will make way for setting up of a regulator for the sector. The Bill and a uniform regulatory mechanism across the country are aimed at protecting property buyers' interest by bringing in much-needed transparency and accountability into the sector. ... more
Jadavpur witness a consistent rise in rental values
Source: The Times Of India Apr 09, 2015
Are you looking to earn regular rental income? Try investing in the buy-to-let properties of Jadavpur. The locality not only promises a regular flow of income but a consequent rise of rental income as well. According to the data available with Magicbricks, rental values in the area have been consistently rising for the last nine months. Take a look! ... more
Home loan rate of 8-9% can trigger real housing recovery: Credai
Source: The Economic Times Apr 09, 2015
Reducing home loan rates to 8-9% can improve buyer sentiment and trigger a recovery in the housing sector, Getamber Anand, the newly elected president of industry body Confederation of Real Estate Developers Association of India (CREDAI), has said. "Single-digit home loan rates coupled with the festive season will surely bring fence-sitters to the market and boost housing demand from October this year," Anand said on Tuesday. ... more
Kolkata No. 3 in super-rich count
Source: The Times Of India Apr 05, 2015
Kolkata is now home to India's third highest chunk of millionaires - with net assets of $1 million or more. Just days after TOI revealed that Kolkata has recorded a higher percentage increase in the number of super rich - worth $10 million - higher than Asia Pacific heavy weights like Tokyo, Seoul, Singapore and Hong Kong, a fresh wealth analysis of India's cities has revealed that Kolkata has more millionaires that Hyderabad, Bangalore, Chennai and Pune. ... more
Primarc’s green residency in Kolkata
Source: Financial Chronicle Apr 02, 2015
Kolkata headquartered Primarc Group, jointly with MCK group, is coming up with eastern India’s first gold rated green residential building, called Astitva, at Kankurgachhi in north Kolkata. The residential complex is being built on a total land area of 9,870 square metres with a built-up area of 25,681 square metres. Astitva will house 115 residential apartments spread across three towers (B+G+XVI). The overall cost of the project is Rs 120 crore, divided between equity (15 per cent), inter corporate deposit (5 per cent), sales advances (80 per cent). ... more
Where to buy premium homes in Kolkata
Source: The Times Of India Apr 02, 2015
If you are looking for luxury homes in Kolkata, Magicbricks is here to help you find the right property. As per Magicbricks findings, Prince Anwar Shah Road offers the most premium properties which fall in the budget of Rs 1 crore and above. These finest abodes come with modern age amenities and ultra luxurious facilities. ... more
Smart City project will be implemented on public-private partnership mode after cabinet approval
Source: The Economic Times Apr 02, 2015
Smart City project is in advanced stage and will be implemented on public-private partnership (PPP) mode after cabinet approval. Urban Development Minister Venkaiah Naidu said this during discussions with a Swedish delegation, led by Anna Johansson, Sweden's Minister for Infrastructure. ... more
Now, no stamp duty on transfer of flat, land to heirs
Source: The Times Of India Mar 28, 2015
Immovable property - land, house or flat - can now be transferred to one's children or blood relatives without paying stamp duty for registration. This will come as a major relief as families won't have to pay a 5% of the ready reckoner rate of the property as stamp duty. Making the announcement, revenue minister Eknath Khadse said an affidavit on a Rs 100 stamp paper would suffice. He later changed it to Rs 500 as the government no longer deals in Rs 100 stamp paper for property matters. ... more
Godrej Properties adds new project in Kolkata
Source: The Times Of India Mar 26, 2015
Godrej Properties Limited, the real estate development arm of the Godrej Group, has entered into a new deal to develop a residential project at Joka, in South Kolkata. The proposed project will offer approximately 277,000 square metres (3 million sq. ft.) of saleable area and will be developed as a modern residential development. ... more
Can Kolkata’s connectivity be a pitch to boost realty?
Source: The Times Of India Mar 23, 2015
Other than budget and location, connectivity is always on a potential buyer’s checklist. Wouldn’t you wish if the significant amount of time and money spent while commuting to and back from work could be somehow put in your piggy bank? One of India’s happy wallet job MARKET happens to be in Kolkata where the regular office goer has a wide range of alternatives to choose from. Somehow, job creation is not at its peak and people think thrice before investing in Kolkata. However, here is what makes Kolkata favourable. ... more
Jain Group launches Dream Valley in Siliguri
Source: Financial Chronicle Mar 19, 2015
Kolkata-based Jain Group is coming up with what the developers claim is Siliguri’s first five-star residential project, called Dream Valley. “This luxurious home in Siliguri is as much a five-star resort as it is a residential complex with breathtaking views, world class amenities and a serene living atmosphere,” said Jain Group officials. ... more
Design trend: Natural and minimalist are in vogue
Source: Financial Chronicle Mar 19, 2015
The interior design segment in India is undergoing a sea change with global trends, designs and materials finding a place in our living spaces, and at the same time as the rest of the world. Indians today are well-travelled and want nothing short of the best and the latest for their abodes. ... more
Land Acquisition Bill likely to be passed this week: Minister
Source: The Hindu Business Line Mar 16, 2015
Environment Minister Prakash Javadekar today expressed confidence that the amended Land Acquisition Bill will be passed by the Rajya Sabha this week. He said two others bills, the Coal Bill and the Mines, are also likely to be passed by the Upper House next week. ... more
Home loan: RBI reduces burden on buyers, industry calls move ‘insufficient’
Source: Financial Express Mar 16, 2015
If the Budget turned out to be a non-event for the real estate sector except for benefits to Real Estate Investment Trusts (REITs), the Reserve Bank of India last week offered some relief to home buyers, especially those belonging to the low-income category and for houses that may fall in the affordable category or in Tier II and Tier III cities. ... more
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