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Technopark ties up with group of banks for funding
The Technopark here has tied up with a consortium of banks for raising Rs 220 crore towards construction of the proposed 1 million sq ft building in its third phase of development. The team of banks comprises Indian Bank, Catholic Syrian Bank, Federal Bank and South Indian Bank. Technopark CEO Mervin Alexander said this was the second [...]
Continue reading...Tallest Indian skyscraper gets its act together
11. March 2010
The Rs1,200 crore project, India’s most expensive residential address, has been bogged down by legal issues over the dangers its construction posed to the stability of Cumballa hill, on which it was being built Eight years after construction began at the Imperial twin towers project in Mumbai, its developers have finally received the mandatory occupancy certificate [...]
Continue reading...Affordable homes remain a distant dream
10. March 2010
Rising inflation and overall price increase of raw materials and services are pushing property rates north in key markets, making affordable homes unaffordable. Following a series of stimulus packages and the economic revival, developers have jacked up property prices by 10 to 35 per cent in the last few months. “We have increased prices from Rs 3,999 [...]
Continue reading...Blues ahead for realty
8. March 2010
As most builders have increased prices, along with the recent budgetary proposals, it is likely that realty sector may see some slowdown in demand in the long term. The Union Budget 2010 has not been able to do much for the realty sector. Though some announcements were made, a lot remained unsaid. Proposals like a one-year [...]
Continue reading...New draft policy on affordable housing in rural areas
8. March 2010
The government has drafted a new policy aiming to ensure adequate and affordable housing for all in the rural areas, Lok Sabha was informed today. “A National Rural Housing and Habitat Policy has been drafted by the ministry after wide consultation with the stakeholders including state governments, bankers etc… The draft policy is at consultation stage [...]
Continue reading...Real estate cos concentrating on affordable housing: Selja
8. March 2010
After the prick in real estate boom, the industry is now looking at construction of affordable housing as the next alternative, Union Minister for Housing and Urban Poverty Alleviation and Tourism Kumari Selja said today. “The real estate boom saw the private players to go in for construction of high income housing facilities. Now the market realities [...]
Continue reading...Realty: Slowdown in demand in long term likely
8. March 2010
The Union Budget 2010 has not been able to do much for the realty sector. Though some announcements were made, a lot remained unsaid. Proposals like a one-year extension for completing housing projects to claim tax benefit or allowing a larger proportion of commercial space in township projects or one-year extension for interest rate subvention [...]
Continue reading...Are developers following building codes?
6. March 2010
Large building complexes like offices, housing apartments, malls, multiplexes, which have changed the urbanscape, do not have any mandatory inspections to ensure that building plans and fire safety norms are in place The avoidable tragedy at Carlton Towers in Bangalore on February 23 has once again highlighted the sheer apathy of agencies that look after the [...]
Continue reading...Booking home before July may let you escape 3% tax
6. March 2010
Those looking to buy a house would do well to book one before July, when the new service tax levy on construction service will come into effect. The cost of flats will go up 3.3% of the total purchase consideration once service tax begins to be levied on construction. The government is considering exempting from tax [...]
Continue reading...Construction in the service tax net
6. March 2010
The proposed imposition of service tax on real estate comes as a surprise Real-estate was one of the biggest victims of the economic slowdown, which crept in about one-and-half years back. Despite the falling realty prices, there were few takers, as potential customers were either out of money, or preferred to adopt a wait-and-watch approach. Now, with the [...]
Continue reading...Budget 2010: No surprises
6. March 2010
Tax relief and interest rate subsidy will accelerate the growth of affordable housing While the real estate sector has welcomed the i budget as “growth-oriented”, some realty experts have termed it a “mixed bag” which has its “positives and negatives.” HT Estates looks at how the budget proposals will i affect the common man and the developer. i [...]
Continue reading...Realty cos opt for joint play to save on costs
5. March 2010
Sky high land prices, unclear titles and a clear need to conserve cash are forcing some real estate companies to do joint development deals with landowners rather than splurge money in buying and holding land at expensive rates. Bangalore-based developers, such as Nitesh Estates, Prestige, Puravankara, Brigade and Mumbai-based Godrej Properties are adopting this route to develop [...]
Continue reading...Roll back service tax on lease rentals: Retailers
4. March 2010
The government’s move to bring back service tax on lease rentals could become a bone of contention between retailers and mall developers. Though developers are liable to pay such a tax, it is most likely, barring a few cases, to land on the laps of retailers, say tax experts. The new Budget proposal could shave off [...]
Continue reading...Construction services tax to raise cost of apartments
1. March 2010
The Budget proposals have thrown up a dampener for the housing industry. Construction services have now been brought under the ambit of the service tax in an unexpected move that would raise cost of apartments that are still under construction. As per the Budget proposal, the finance ministry has suggested that construction would be deemed [...]
Continue reading...Brokers caution investors against loading up on shares in a hurry
28. February 2010
Retail and high net worth individuals (HNIs) will have to tread carefully in the coming days, as the market appears to be finicky about valuations. Key indices rose over 1% on Friday, as investors cheered the finance minister’s proposals, especially those relating to government borrowings and personal taxes. But brokers have cautioned investors against loading up on [...]
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- Ghaziabad : Residents get raw deal from builders , They allege many promises unfulfilled
- Technopark ties up with group of banks for funding
- Ambuja Realty plans Rs.1,065 crore investment
- Ambuja Realty to set up three IT parks in Kolkata
- Tata Housing signs two MoUs with Assam Government
- NOIDA : Circle Rate may be increase by 20 percent
- Rainwater harvesting: 600 property owners seek tax concession
- Building plan for luck
- Encumbrance certificate discloses charge on property
- Rights of a mortgagor
12. March 2010
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