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Emaar row gives customers the jitters
With the APIIC-Emaar deal under the scanner, it’s the customers of the upmarket ‘Boulder Hills’ township, in Gachibowli, who are feeling the pinch now. With questions being raised about Emaar MGF’s involvement in the project, customers fear that the MGF-developed township might fail to take off anytime soon, jeopardising their investments — running into a [...]
Continue reading...3-member panel to probe Emaar deal
15. August 2010
APIIC May Have Lost Rs 3,000 Cr Due To Violation Of Agreement, Claims Its Chairman The loss to the state because of Emaar Properties violating the agreement it signed with APIIC could be to the tune of Rs 3,000 crore, claimed APIIC chairman Srighakolapu Sivarama Subramanyam. “There is prima facie violation of agreement. The minimum [...]
Continue reading...Andhra Pradesh State Govt Increases Property Registration Charges
6. August 2010
In a move to offset losses due to reduction in stamp duty charges to a uniform 5 per cent across the State, the Andhra Pradesh Government has effected upward revision of the registration charges and market prices for properties from August 1. The State Government had recently announced its decision to slash the stamp duty rates [...]
Continue reading...L&T Bags Hyderabad Metro Train Project
6. August 2010
The Andhra Pradesh government has decided to award the Rs 12,132-crore Hyderabad Metro Rail Project to Larsen and Toubro (L&T). The state Cabinet, which met on Wednesday under the chairmanship of chief minister K Rosaiah, approved the recommendations of a three-member committee to award the project to L&T that has emerged as the lowest bidder. L&T has [...]
Continue reading...Godrej to convert Hyderabad IT SEZ into housing project
18. July 2010
The Godrej Group’s realty arm, Godrej Properties (GPL), plans to convert its information technology (IT) special economic zone (SEZ) project in Hyderabad into a residential one, a top company official said. GPL had bought over 34 acres in Hyderabad in 2006 to set up an SEZ, keeping in view the then boom in the IT [...]
Continue reading...Vasathi Housing and Infra Plan Affordable Housing in Hyderabad
14. July 2010
Vasathi Housing and Infra has sewn up plans to invest about Rs 150 crore in setting up integrated affordable housing ventures in Hyderabad. Further, it is also planning to enter Bangalore and Chennai next year with similar projects. The Hyderabad-based company has recently secured funding worth about $5 million through a group of foreign investors led [...]
Continue reading...e-bidding fetches Rs 67cr for HMDA
13. July 2010
After a gap of three years, the Hyderabad Metropolitan Development Authority (HMDA) could sell 50 per cent of its open plots, which were put up for auction, through e-bidding on Monday. Of 229 leftover plots that were put for sale in various localities, 117 plots were sold, fetching about Rs 67.5 crore to the authority. During [...]
Continue reading...Hyderabad: Four lakh property owners owe GHMC Rs 343 cr in taxes
25. June 2010
Most Of The Defaulters Are From Old City, Jubilee Hills Over four lakh property owners did not pay property tax last year. In fact, they owe dues to the tune of Rs 343 crore to the civic body. Of 11 lakh properties in the city, owners of four lakh properties, most of them in the [...]
Continue reading...Inverted pyramid building at Infy SEZ
9. June 2010
Information technology major Infosys will build an iconic 70-feet inverted pyramid style building at its special economic zone (SEZ) in Pocharam village on the outskirts of the city. In all probability, the SEZ, which will be Infosys’ second campus in the city, will commence its operations by 2010 end. The Hyderabad Metropolitan Development Authority (HMDA) has [...]
Continue reading...Govt Mulls Cut In Registration Fee From 9.5 Per Cent to 5 Per Cent
2. June 2010
Good tidings for realty sector Hyderabad’s realtors finally have something to cheer about. The sale deed registration fee in the state, which was as high as 9.5 per cent so far, is likely to drop to 5 per cent over the next few weeks — a relief that realtors have been seeking for very long. [...]
Continue reading...Hyderabad City high-rises to have helipads
20. May 2010
Some upcoming high-rises in the city will have helipads. The Greater Hyderabad Municipal Corporation (GHMC) has accorded permission to five real estate firms to have helipads on rooftop of their proposed structures. The AP Fire Services Department has moved a proposal as per National Building Code (NBC) norms. According to NBC norms, high-rise buildings which are over [...]
Continue reading...Fate of penthouses still in limbo
17. May 2010
Home Dept Yet To Give Nod For A Few Relaxations To Regularise Penthouses With the Building Penalisation Scheme (BPS) ending next month, over 2,000 applicants are worried over regularisation of their penthouses. Reason: The home department is yet to give the nod for certain relaxations to regularise penthouses. The fire services department and Greater Hyderabad Municipal [...]
Continue reading...Government may slash impact fee by 40 per cent
17. April 2010
Hyderabad:In what could finally mean good news for city realtors, the Andhra Pradesh government might slash the impact fee of all constructions by almost 40 per cent. Builders say that the reduced fee, which is likely to be implemented within the next few weeks, would significantly help in the recovery of the ‘sick’ sector and [...]
Continue reading...Tellapur Technocity Plans To Take Up Integrated Township In A Phased Manner
9. April 2010
Hyderabad: With signs of economic recovery and reality sector beginning to gather momentum, Tellapur Technocity Pvt Ltd has come forward to go ahead with its integrated township project at Tellapur in Ramachandrapuram mandal in Medak district. The project was put on hold two years ago. However, the proposed integrated township would have a different plan and [...]
Continue reading...Why collect tax if building illegal? SCB asked to clarify
11. March 2010
Hyderabad: An inquiry committee probing the March 3 accident in which a Kiran aircraft performing aerobatics as part of India Aviation-2010 show crashed into a three-storied building in New Bowenpally, sought a clarification from the Secunderabad Cantonment Board (SCB) on the tax paid by building owner L Ramesh Kumar on the unauthorised building. A three-member committee [...]
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15. August 2010
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