Property News from IndianRealtyNews

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• Finance Ministry Provides Slight Tax Relief to Realtors
• Price Rise Will not Favour Real Estate in the Long Run
• Jaypee Group comes up with Jaypee Greens Sports City in Greater Noida
• LIC Housing Finance Plans Foray Into Banking Business
• Mall Culture not a Big Success in India

Finance Ministry Provides Slight Tax Relief to Realtors Posted: 29 Apr 2010 11:48 PM PDT Home buyers could pay less for property following a partial rollback of a budget levy on realtors by finance minister Pranab Mukherjee today. Mukherjee said realtors would pay a 10 per cent service tax on 25 per cent of the value of the built property, including the cost of land, against the budget announcement of [...]

Price Rise Will not Favour Real Estate in the Long Run Posted: 28 Apr 2010 09:40 PM PDT Even as realtors are happy about the rise in property prices in the last two quarters to almost the pre-slowdown highs, experts said this sudden rise in prices will not help the sector in the long run but would rather derail the recovery process of the sector, which is still looming under a funds crisis. According [...]

Jaypee Group comes up with Jaypee Greens Sports City in Greater Noida Posted: 28 Apr 2010 08:44 PM PDT Jaypee Greens Sports City Greater Noida offers 2, 3 and 4 bedroom apartments in Greater Noida at affordable price with top class amenities like lush green surroundings, world class infrastructure, parks, shopping centers, secured gated community, multi tier 24*7 securities, power back up, car parking and many more. Jaypee Greens Sports City Greater Noida is well [...]

LIC Housing Finance Plans Foray Into Banking Business Posted: 28 Apr 2010 07:50 PM PDT LIC Housing Finance, a subsidiary of Life Insurance Corporation of India (LIC), plans to apply for a banking license if it qualifies after the Reserve Bank of India (RBI) issues guidelines on issue of fresh licenses for private sector companies. Even if its parent company, LIC, is not able to partner the venture, the home [...]

Mall Culture not a Big Success in India Posted: 28 Apr 2010 07:47 PM PDT Let's begin with defining success. In the case of a shopping mall (and most other consumer facing businesses), I believe this lies at two levels — success at a customer value proposition level (end consumer and retailer/occupier), and then at a financial level for the mall developer. For the shopping mall revolution to be considered [...]

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NuWire Investor Weekly 4/29/2010

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April 29, 2010
Featured Articles Dallas Real Estate Market Attracting Investors Benefiting from Texas' tax-friendly business climate, Dallas has grown by half a million in population and 180,000 jobs in just the. ..read more Homeownership Rate Falls To 10 Year Low Fewer Americans own homes in Q110 than in any quarter since the beginning of 2000, according to data from the Census Bureau ...read more   CLICK HERE to view our available turn-key cash flowing investment properties.
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Property News from IndianRealtyNews

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• 9.2% Rise in Pune Property Prices
• Residential Prices in Mumbai going Sky-high once Again
• Unitech Takes Advantage of Revival in Affordable Housing- Sells Properties worth Rs 7033cr
• Service Tax on Real Estate can be Reconsidered- Ministry
• Saffronart Partners with Cushman & Wakefield for Online Sales of Premium Residential Properties
• GMC’s Plan to Impose Service Tax can cause Hike in Gurgaon Realty Prices

9.2% Rise in Pune Property Prices Posted: 28 Apr 2010 10:23 PM PDT Property prices in Pune went up by 9.2% in the last quarter, making the city one of the only three in the country to see a rise. Apart from Pune, Ahmedabad and Kolkata saw a price rise in the January to March quarter. In Mumbai, the prices dropped by 2% in the first quarter, while [...]

Residential Prices in Mumbai going Sky-high once Again Posted: 27 Apr 2010 11:35 PM PDT Apartments at Ashok Towers in the Parel area of Mumbai command a price of Rs 28,000-29,000 a sq ft. This is higher than what developers were charging at the peak of the property market boom during 2007-08. The prices then were Rs 25,000-26,000 a sq ft. During the slowdown in 2008-09, the rates had come [...]

Unitech Takes Advantage of Revival in Affordable Housing- Sells Properties worth Rs 7033cr Posted: 27 Apr 2010 11:19 PM PDT Unitech Ltd has sold properties worth Rs 7,033 crore during the last fiscal on the back of a revival in housing demand, particularly in the affordable segment. In a presentation to investors, the company said it has become a key player in all four metros. Earlier, Unitech had a greater presence in the national capital region [...]

Service Tax on Real Estate can be Reconsidered- Ministry Posted: 27 Apr 2010 10:49 PM PDT The Urban Development Minister, Jaipal Reddy, will soon take up with the Finance Ministry, the contentious issue of service tax imposition in the real estate sector proposed in the Budget. This assumes significance as the service tax imposition can translate into a three-four per cent increase in the cost of under-construction apartments for most home buyers. "The [...]

Saffronart Partners with Cushman & Wakefield for Online Sales of Premium Residential Properties Posted: 27 Apr 2010 09:57 PM PDT A Rs 26 crore (Rs 260 million) luxurious flat with a stunning sea view in South Mumbai or a duplex apartment in Bangalore can now be bought at just a click of the mouse. Saffronart, the online portal that sells art and jewellery, has joined hands with real estate services firm Cushman & Wakefield for [...]

GMC’s Plan to Impose Service Tax can cause Hike in Gurgaon Realty Prices Posted: 27 Apr 2010 09:51 PM PDT Owning property in Gurgaon is set to become more expensive with the Gurgaon Municipal Corporation (GMC) planning to impose property tax. Gurgaon, located in the National Capital Region, has for long been the cradle of private property developers and is also known as the IT city of Haryana. Municipal Commissioner of MCG, Rajesh Khullar said the [...]

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