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  • DDA Flats, On Wait and Watch Mode

    The Urban Development ministry has held the allotment of flats to its winners decided recently by a lucky draw by the Delhi Development Authority till the process gets cleared from allegations of fraud and rigging. "Unless we are fully satisfied that the allotment process was free and fair, physical possession of flats would not be given to ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 5, 2009
  • Mhada Invites Buyers For Low-Cost Houses

    For those looking for affordable homes in Mumbai, Maharashtra Housing and Area Development Authority (MHADA) has announced a sale of 3, 863 flats built by it. Ranging from 225 sq ft to 870 sq ft, the prices of these flats vary from Rs 3.5 lakh to Rs 45 lakh depending on the size and location. The homes will be allotted depending on the income of ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on January 25, 2009
  • Property Tax-SAS Scheme Reintroduced-Old Properties Gain

    With the 2000 rates of SAS in force coupled with more flexibility in building depreciation, owners of old properties have much to cheer about when paying their property tax. As per the BBMP's estimation, nearly 65% of old properties will actually end up paying 15% to 18% less in property tax compared to what they paid in 2000. How does this ...
    Posted to My Bangalore Blog (Weblog) by 233134 on January 23, 2009
  • BBMP Property Tax Rules 2008-Self Assessment Scheme Approved

    The state government has approved the draft rule for property tax under the Self Assessment Scheme (SAS) proposed by the BBMP. The BBMP has called for suggestions and objections from the public within 15 days, after which it will start collecting the taxes.There is a proposal of a 20 per cent hike in the property tax in the draft rule with the ...
    Posted to My Bangalore Blog (Weblog) by 233134 on November 20, 2008
  • Getting Freebies with your Home? Not exactly

    Unmasking property discounts and the free gifts   It is a true that some developers are unable to sell houses and are offering discounts to lure purchasers in Bangalore. But, recent buyers have also discovered that many of these discounts are only marketing gimmicks.   There is no actual reduction on the real value of the flat. These ...
    Posted to My Bangalore Blog (Weblog) by 248075 on April 20, 2008
  • Citigroup's realty arm to buy 10% stake in Golden Gate Properties for Rs 400 Crores

    Citigroup’s real estate arm is set to invest around Rs 400 crore ($100 million) in Bangalore-headquartered Golden Gate Properties for about 10% stake, sources said.The deal is expected to value the tier-II real estate firm at a little over $1 billion. This marks Citigroup’s back-to-back deals in the domestic real estate space in the ...
    Posted to My Bangalore Blog (Weblog) by 248075 on April 17, 2008
  • Land rate up 3000 per cent in Bangalore Rural

    The 'main roads' of Devapala, Arudi and Singenahalli villages, bordering Gowribidanur taluk, Bangalore Rural district, are virtually nonexistent. It's tough even for a bullock cart to navigate these roads. The value of dry agricultural land adjacent to the main road was Rs 50,000 per acre till February 29. But from March 1, it has ...
    Posted to My Bangalore Blog (Weblog) by 233134 on March 26, 2008
  • Now Pay More for BBMP Sanction for your building Plan

    The BBMP has resorted to an almost tenfold increase in the building licence fee, ground rent and charges to obtain certified copies of the plan. The new rates were approved by BBMP Administrator Dilip Rau on November 17 and came into effect on December 18. While standalone residential units have been spared from the increase, it is eight-fold ...
    Posted to My Bangalore Blog (Weblog) by 233134 on December 31, 2007
  • ETA Star to Invest Rs.1,500 crores in Mumbai

     Chennai-based real estate developer ETA Star Property Developers, a part of $4 billion ETA Ascon group based in the UAE, will build a Rs 1,500 crore mall in Mumbai's Juhu area. The construction work will begin in January 2008. ETA has formed a 50:50 joint venture with Supra Estates, to develop the 10 acre plot (450,000 sq ft) into a ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • ICICI Launches Real Estate Security Fund

     ICICI Prudential Mutual Fund recently launched its real estate securities fund, which is the first real estate mutual fund in India. The new fund offer is open for subscription from November 15 to December 14, 2007. The fund will invest 51 per cent of its portfolio in high-yielding debt securities issued by real estate companies. The scheme ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • US $ 250 million. India Focussed Realty Fund by Knight Frank

     In the first of its kind among property consultants, the UK-headquartered Knight Frank Group will launch a $250 million India-focused real estate fund. According to sources the offshore fund will raise investments from high net worth individuals and other investors from the UK and will have an investment threshold of $0.5 million and above. ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • IT Companies Trickle to Tier III Cities

      In view of the appreciating rupee, high wages and increasing real estate prices, big, medium and small IT firms have made a successful entry into tier-II cities. Encouraged by their progress, many small IT firms are now exploring tier-III cities such as Udupi, Manipal, Hubli and Belgaum in Karnataka, Kozhikode in Kerala, Tirunelveli in ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • Knowledge City to be set up in Visakhapatnam

     Unitech Ltd has come to an agreement with the Andhra Pradesh government to set up the Vizag Knowledge City on 1,750 acres of land near Vishakapatnam, for which it will pay Rs 3,328 crore over a ten-year period. At Rs 52 lakh per acre, it may not be the most expensive deal in the country, but it is among the largest in terms of the acreage ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • Piramal Group Enters the Real Estate Market

    Piramal Enterprises, part of the Ajay Piramal Group, is planning to develop properties in Mumbai's central and northern regions. The company has set up a joint venture (JV) with Sunteck Realty, Mumbai-based real estate developers. The move comes close on the heels of Ashok Piramal Group-formed after a formal family settlement with the Ajay ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • Top bids worth Rs 2,790 crore for BKC plot in Mumbai

    Mukesh Ambani promoted Reliance Industries Limited, Wadhwa Builders, TCG Infrastructure and Hiranandani Constructions have emerged as the leading bidders for the three Bandra-Kurla Complex (BKC) plots in Mumbai measuring 75,350 square metres. The total value of the top bids is Rs 2,790 crore. Milind Mhaiskar, joint metropolitan commissioner and ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on November 29, 2007
  • Property Exhibition "ET Realty Expo 2007" to be held in Bangalore from Friday

    Here comes another property exhibition in Bangalore. ET(If you donno what is this? ET=Economic Times) ET Realty Expo is a three day property exhibition showcasing residential apartments and Townships  from various 'A' class and 'B' class builders developed in and around Bangalore. The organisers also mentions ...
    Posted to My Bangalore Blog (Weblog) by 233134 on November 29, 2007
  • Sharp revision in guidance value in Bangalore rural

    With the boom in the real estate business in Bangalore Rural and the newly created Ramanagara districts, the Department of Registration and Stamps has notified upward revision of property guidance values in these districts for the year 2007-08. The revision of values in the Bangalore Rural District covers Devanahalli, Doddaballapur, Hoskote and ...
    Posted to My Bangalore Blog (Weblog) by 248075 on November 24, 2007
  • BBMP issues guidelines for khata

    Following queries by people on the process of obtaining khata or transferring it, Bruhat Bangalore Mahanagara Palike (BBMP) has issued a set of guidelines to be followed by citizens while applying for khata certificates. BBMP Commissioner S. Subramanya has directed all zonal revenue officials to ensure that people were not put to hardship during ...
    Posted to My Bangalore Blog (Weblog) by 248075 on November 24, 2007
  • Capital Value-based System (CVS) condemned by former mayors

    Condemning the decision of Bruhat Bangalore Mahanagara Palike (BBMP) to introduce the Capital Value-based System (CVS) of property tax in the city from April 2008, two former Congress Mayors on Thursday demanded that the existing system of calculating tax based on the annual rental value under the Self-assessment Scheme (SAS) be ...
    Posted to My Bangalore Blog (Weblog) by 248075 on November 19, 2007
  • Land denotification rush in Bangalore

    Even during the high-voltage political drama, the men-in-power took time off to denotify a whopping 170-odd acres of land worth hundreds of crores in the city in less than 10 days. The speed and the manner with which the notified lands for various developmental projects by the BDA were excluded from the acquisition raises suspicion of kick-backs, ...
    Posted to My Bangalore Blog (Weblog) by 248075 on October 25, 2007
  • BDA agrees to allot small dimension sites

    In a decision that could have far-reaching consequences, the Bangalore Development Authority (BDA) on Thursday informed the Karnataka High Court that it would allot small dimension sites (20 x 30 and 30 x 40) to all those who had made part payments for the sites.Counsel for the BDA Sabrad said that the agency had adopted a resolution to this ...
    Posted to My Bangalore Blog (Weblog) by 248075 on October 25, 2007
  • Property owners in Bangalore City will have to switch over to the new method of property tax assessment CVS from the next financial year

    Property owners in Bangalore City will have to switch over to the new method of property tax assessment — Capital Value based assessment System (CVS) — from the next financial year (from April 1, 2008) instead of the existing Annual Rentable Value (ARV) based assessment. However, those who have put up new structures, renovated or ...
    Posted to My Bangalore Blog (Weblog) by 248075 on October 25, 2007
  • PNB signs pact with IIFCL

    Punjab National Bank has entered into a MoU with India Infrastructure Finance Company Ltd. The MoU was inked by Dr. K.C. Chakrabarty, PNB Chairman, and Mr S.S.Kohli Chairman and Managing Director, IIFCL, here on Wednesday. Under the MoU, PNB and IIFCL will cooperate and complement each other's capabilities in the area of creating a deal flow ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • Need of Real Esate Regulatory Body in India

    If you want to buy an insurance policy, you have to purchase the policy from an insurance agent recognised by the Insurance Regulatory Development Authority. If you want to invest in fixed deposits, you have to follow RBI guidelines. If one wants to invest in shares then there are SEBI guidelines for regulation. However, when a person is on the ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • Manesar is being developed by the Govt. of Haryana as the new area for development

    With the growing scarcity of land in the existing Gurgaon Master plan, Manesar is being developed by the Govt. of Haryana as the new area for development. Most of the builders have already acquired lands in Gurgaon Manesar Expressway to develop townships like Unitech, Vatika, Raheja, DLF, N R Buildcon and many more.   The proposed Expressway ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • US Group unviels Dh 4.3 Billion Resort in UAE

    US-based PKN Group said it will develop a Dh4.3-billion resort to bring "Las Vegas-style" living and entertainment to a desert area of Ajman near the border with Ras Al Khaimah. To hammer home the point that it would be fit for celebrities to live there, the company even brought Dirty Dancing star Patrick Swayze to endorse the plan. The ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • No Intention to control capital Inflow: Finance Minister

    Developments in the recent weeks have required India to moderate the flow of funds into the country but the government has no intention of controlling capital flows, Finance Minister P Chidambaram has said. "Let me assure you we have no intention of imposing controls on capital inflows. Nor do we intend to keep out certain kinds of ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • Massive Shortage of Govt office Accomodation

    There is a net shortage of 25.90 lakh sq feet of government office accommodation in Delhi alone and 20.12 lakh sq ft in other major cities, according to a report prepared by the Urban Development Ministry. In Kolkata, the demand for government office accommodation is 20,74,653 sq ft but the availability is only 13,79,402 sq ft. Similarly at ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • Shaikh Mohamed pays Surprise Visit to CityScape, Dubai

    His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, paid a surprise visit to Cityscape, the world's largest real estate exhibition which concluded here yesterday. A B2B (business-to-business) real estate show dedicated to those who can afford to invest over $5 million in the ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • Sales Centeres & Advertising prime factors in Property Buyers Decision

    Sales centres and advertising are the most important factors influencing one's decision to buy a property, according to a study released by FutureBrand, a global brand consultancy firm. It said that sales environments have posted a 25 per cent rating in terms of importance in attracting potential buyers. Advertising received a 21 per cent ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
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