Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

Maharashtra Govt to come up with Legislation for Affordable Housing

Posted: 28 Jun 2010 06:10 PM PDT

The Government of Maharashtra is prepared to come up with legislation for making affordable housing facilities available to curb slum dwelling in Mumbai if required, indicated Mr Sachin Ahir, Hon'ble Minister of State for Activities, Housing, Environment, Industries, Mines, Repairs and Reconstruction, Slum Improvement, Social Justice and Urban Land Ceiling, Government of Maharashtra. “The alternatives for [...]

Realtors Seek Cap on Brokerage

Posted: 28 Jun 2010 06:03 PM PDT

In a bid to save Chennaiites from the clutches of haggling real estate brokers, leading realtors in the city on Monday promised to infuse fair practices in deals, rationalise brokerage fees and ensure greater transparency in realty transactions. The Chennai Real Estate Agents’ Association (CREAA), one of the member organisations of the National Association of [...]

Chennai Witnesses Rise in Property-Related Crimes

Posted: 28 Jun 2010 05:04 PM PDT

In recent years, Chennai has expanded rapidly and so has crime in the city, particularly those relating to property. A survey of the statistics put out by the State Crime Records Bureau (SCRB) for the past four years, from 2006 to 2009, show that Chennai ranks high in all crimes relating to property, followed closely [...]

Teaser rates on home loans to go as base rate debuts

Posted: 28 Jun 2010 04:07 PM PDT

India's top lenders who have offered teaser rates on mortgages through special schemes to boost off take of loans will withdraw such schemes on Wednesday, as banks move to a new system of pricing loans from July 1. The special loan schemes launched by mortgage lenders — HDFC, ICICI Bank and State Bank of India [...]

HCC to start Mumbai Slum Re-Development by October

Posted: 27 Jun 2010 05:23 PM PDT

Hindustan Construction Company Ltd will begin its Vikhroli slum redevelopment project by October, a top company official said on Friday. The firm will develop 16 acres out of the 48 acres, for which it received approval two weeks ago from the Slum Rehabilitation Authority, Rajgopal Nogja, president, HCC Real Estate Ltd told reporters. “The development of [...]

Skyrocketing Property Prices in Mumbai

Posted: 27 Jun 2010 05:18 PM PDT

Mumbai Skyrocketing property prices over the last few months have taken housing beyond the reach of the salaried class, with barely six per cent of the total new housing stock in Mumbai priced under Rs 50 lakh. On the other hand, a staggering 46 per cent of these flats cost over Rs 1 crore. Figures compiled [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

HDIL eyes 8 m sq ft Mumbai airport TDRs

Posted: 27 Jun 2010 06:19 PM PDT

Housing Development & Infrastructure Ltd (HDIL), the Mumbai-based real estate developer, has acquired the land for the remaining part of the Mumbai International Airport Ltd (MIAL) project, which will lead to 7-8 million square feet (msf) of transfer of development rights (TDRs) to be generated on an annual basis. The phase-I of the MIAL project is [...]

Delhi Real Estate Deals See Jump before Hike

Posted: 27 Jun 2010 06:16 PM PDT

With the Delhi government yet to formally notify the new circle rates announced on June 14, the Capital's real estate market has been busy pushing through deals and registering them over the last fortnight. The new rates are at least three times the existing ones, and as a result the number of documents received by [...]

Mantri Developers Plans Launch of New Real Estate Ventures in Chennai, Hyderabad and Bangalore

Posted: 24 Jun 2010 04:26 PM PDT

Mantri Developers has outlined their plans to launch new real estate ventures in Bangalore (six), Chennai (two) and Hyderabad (two) during the course of this year. The company, which has set up one of the country’s largest malls in Bangalore, Mantri Square, is looking at launching two more of them in Hyderabad and Chennai. "We [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

SBI Eyes Big Surge in Home Loans

Posted: 24 Jun 2010 05:41 PM PDT

State Bank of India (SBI), India's largest lender, is neck and neck with mortgage leader and pioneer HDFC in terms of home loans outstanding, according to data from Icra, the rating agency. The bank is aiming to increase its home loan portfolio (opening balance of loans plus loans disbursed less repaid in a year) by [...]

Bangalore Based Century Real Estate Plans to launch Seven Projects this Year

Posted: 24 Jun 2010 04:24 PM PDT

Bangalore-based Century Real Estate is planning to launch seven projects this year involving an investment of about Rs 800 crore. Of the proposed projects, five will be in the affordable housing segment, one will be a villa project and the last a mixed-use development that will comprise commercial building and high-end residential apartments. The company [...]

The Impact of New Tax Code on Real Estate

Posted: 24 Jun 2010 03:43 PM PDT

The revised draft for the Direct Tax Code released on June 15, is currently a hot topic of discussion among people. The code is an attempt by the government to simplify the existing income tax laws in the country. Assuming there are no further roadblocks, the government expects to implement DTC on April 1, 2011, [...]

CCI Enters into Real Estate Plans to invest Rs 1,000 crore

Posted: 23 Jun 2010 06:26 PM PDT

Cable Corporation of India on Wednesday said that it has forayed into the real estate sector with an investment plan of Rs 1,000 crore for its first project. The company will be developing the project through its associate company, CCI Projects Private Ltd (CCP), in which CCI holds 15 per cent stake. The project, spread over [...]

Mahindra Holidays and Resorts Plans to Triple Rooms Capacity

Posted: 23 Jun 2010 05:28 PM PDT

Mahindra Homestays, a brand of Mahindra Holidays and Resorts, plans to almost triple its rooms capacity to 2,000 during this fiscal with a view to capitalise on the expected high tourist influx on account of the Commonwealth Games. “The concept of homestay is still new in the country. Currently, Mahindra Homestays has about 270 homes with [...]

SEZs migrating to other zones may face tax hurdles

Posted: 23 Jun 2010 03:30 PM PDT

The Commerce Ministry may have allowed SEZ units to migrate from one SEZ to another, but such units may face tax difficulties in the absence of specific guidance from tax authorities to cover such situations, say tax experts. There is no specific provision in the income tax law to deal with the migration situation and hence [...]
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