May - 2010

Shortage of construction labour may lead to cost spiral

Sat, May 29 2010

Country's realty developers and experts are expecting a steep increase in the cost of labour for construction works. It will increase by 15 per cent in the metro cities over the next two-three months.

DLF seeks to revive its Kolkata SEZ

Thu, May 27 2010

India's largest realty developer, DLF has given hints to rethink on its plan for a special economic zone in Kolkata. Seeing improvements in the sentiment in the real estate sector, DLF has approached the commerce ministry for reviving the Kolkata project, an official said today.

Mumbai plot scripts record $850 mn deal

Wed, May 26 2010

Mumbai has again proved to be the choicest commercial realty destination as it bags a record $850 million deal on Tuesday. Realty major Lodha Developers has finalized a deal to win a plot of land in central Mumbai in the consideration of worth 40.5 billon rupees ($850 million).

Madurai flat buyers concerned over service tax demand

Wed, May 26 2010

Although the residential segment in Madurai has shown a great comeback after global slowdown, the homebuyers are still worried about the service tax to be paid for flats in Madurai.

DLF sees uptick in commercial leases

Tue, May 25 2010

Country's leading real estate developer is now bullish over the growth in the commercial leasing sector, especially in the IT and banking space. The company has been experiencing muted growth for past several quarters

Conference on Reverse Mortgages in India

Sat, May 22 2010

The National Housing Bank has inaugurated a national conference on mortgages which will target the newly launched variant of Reverse Mortgage Loan-enabled annuity scheme. The Executive Director of NHB has said that this is an endeavor to generate awareness about the product and develop better understanding of the various legal and operational issues.

Bengal Peerless set to begin new project work

Fri, May 21 2010

Realty major Bengal Peerless will commence its Rs 400 crore housing-cum-commercial project by the next month. The MD of Bengal Peerless said that the booking will open in two to three months. The project was already delayed by land acquisition disputes.

Axis Bank buys office space for Rs 782 cr from Bombay Dyeing

Thu, May 20 2010

The textile major Bombay Dyeing has sold off a whopping part of office space of about four lakh square feet to the Axis Bank in Mumbai for Rs 782 crore. It costs to Axis Bank almost Rs 16,000 a square foot for the central Mumbai location in Parel.

Ansals to develop green township in Gurgaon

Wed, May 19 2010

The realty major Ansal Properties and Infrastructure has announced its plans on Tuesday to invest Rs 1,300 crore in green township project in Gurgaon over the coming three years.

Steep hike in fee to register property

Tue, May 18 2010

The transactions in Delhi's properties would become a dearer affair as the Delhi cabinet on Monday approved the revision of registration fee. The revision entails increment of Delhi cabinet on Monday approved the revision of registration fee

DLF plans to sell non-core assets to reduce debt

Mon, May 17 2010

Country's leading real estate developer DLF has planning to raise Rs 2,700 crore this fiscal year by disposing off non-core assets. The sum of money would be utilized to curtail its debt of over Rs 16,421 crore by about one-third.

Mumbai, Delhi realty rates on way down

Sat, May 15 2010

Country's real estate analysts expect that the prices for new bookings in residential segment in Mumbai and NCR Delhi are likely to fall. They see a decline of 10 to 20 per cent, which lower than prevailing market rates.

Slowdown tells on Tamil Nadu's registration revenue

Fri, May 14 2010

The TN government is worrisome over the revenue from stamp duties. According to the policy note on stamps and registration filed in the Assembly, State Government has seen decline in its revenue on account of economic slowdown over the last couple of years.

Home Loan-swap window to help beat rate hikes

Thu, May 13 2010

The government of India may soon plan to effect changes in the prepayment rules, which will facilitate home loan borrowers by giving them option to move for cheaper lender, in case his bank raises interest rates soon after disbursing the loan.

DLF looks to exit IT SEZ in Chennai, seeks 700 crore refund from govt, Tata realty project on track

Wed, May 12 2010

India's apex realty body, the Confederation of Real Estate Developers’ Associations of India (CREDAI) has been organizing a conference on Formulation of Banking Strategy & the Economic Outlook for Real Estate for 2010-11 here.

CREDAI organises conference on Formulation of Banking Strategy for Real Estate

Tue, May 11 2010

India's apex realty body, the Confederation of Real Estate Developers’ Associations of India (CREDAI) has been organizing a conference on Formulation of Banking Strategy & the Economic Outlook for Real Estate for 2010-11 here.

Commercial property in revival mode

Mon, May 10 2010

The persisting effects of slowdown that were affecting commercial property and office space during past few quarters are weakening now. The realty segment has been showing signs of revival after lull of few quarters. The momentum is picking up in the transactions of commercial property and office space in Hyderabad

Delhi real estate regulator by this year-end

Fri, May 7 2010

The ministry of urban development has announced on Thursday that Delhi will have real estate regulator by the end of 2010. S. Jaipal Reddy, the Urban Development Minister, said that the government was talking to other states to have similar regulators.

Maha changes property tax system

Fri, May 7 2010

The government of Maharashtra has finally signaled that it will implement new system to calculate property tax on buildings, lands, houses and establishments across the state. As per the new system, the calculation will be based on the capital value of the property.

House prices may go up 4% on service tax

Thu, May 6 2010

Despite being relaxation provided by the government in service tax, the prices of residential flats are likely to go up by 4% in a couple of months. The Union Budget announced in February entails levy of service tax Union Budget, while the state would impose VAT of 1% on a flat's price.

Teaser home loan rates worry NHB

Wed, May 5 2010

National Housing Bank, the regulator of housing finance firms, has warned the real estate customers against the risks from teaser rates. A number of the financial lenders offer home loans at concessional rates for a limited period, which later crates problem for the users.

Demand for apartments back, spring in step for real estate

Tue, May 4 2010

The demand in realty sector is observed to be back on track as a number of buyers, who had deferred their plans to buy homes, have fuelled a spurt in real estate demand in the city.

Massive drop in bank lending to real estate sector

Mon, May 3 2010

Despite being the launches of a slew of new projects in the last six months, realty sector has been practically least enjoying the bank credits. The data released by RBI for the flow of bank credit to real estate sector signifies a huge decline from the preceding year.

LIC Housing Finance to organize 'Home for All Expo'

Sat, May 1 2010

Seeing the revival of India's realty sector from the recessionary period, LIC Housing Finance ( LIC HFL ) has announced its plans to organize a comprehensive real estate exposition called 'Homes for All' on 7th, 8th and 9 th May, 2010 at Pragati Maidan, New Delhi.

Housing prices to go up by 2.5 per cent

Fri, Apr 30 2010

Government of India has announced that the housing prices will observe a hike of 2.5 %. Though a service tax relaxation has been provided by the government yet the housing prices will go up.

Proposed service tax on apartment sales to be reviewed

Fri, Apr 30 2010

The government of India is considering a review on the proposed service tax that is levied on the sale of apartments. Pranab Mukherjee, the finance minister will soon clear out the status of service tax.