April - 2011

Adani Realty in 600 acre township plan

Sat, Apr 30 2011

Real estate major Adani Realty Business has been planning to invest Rs 5,000 crore in the group’s upcoming township in Ahmedabad. It has undertaken development of a 600 acre township (named Shantigram) in Ahmedabad in a phased manner.

Indian Realty Sector Pledges To Maintain Transparency

Fri, Apr 29 2011

At the 11th annual convention of the Confederation of Real Estate Developers' Association of India (CREDAI) held at Singapore and attended by hundreds, the Indian Real Estate industry promised to maintain a higher degree of transparency. This change was appreciated by Mr. Kamal Nath, the honorable minister for Urban Development.

Credai Pune welcomes state's initiative on affordable homes

Thu, Apr 28 2011

The Confederation of Real Estate Developers of India (Credai), Pune, has welcomed Maharashtra minister of state for housing Sachin Ahir's announcement that affordable homes will soon be available for the masses.

2008 DDA scheme flats: Hundreds lie vacant at Vasant Kunj without water, power supply

Wed, Apr 27 2011

Most of the lucky winners of 2010 DDA Housing Scheme may find it difficult to reside at the posh Vasant Kunj in the heart of south Delhi. There are a number of flats, which were offered under the 2008 DDA Housing scheme, are still lonely and desolate out there.

Register property sans safety certificate

Tue, Apr 26 2011

The property registration in Delhi can now be proceeded without procuring a structural safety certificate, which the government had made mandatory this month, officials said on Monday. The Lieutenant Governor of Delhi has approved the government’s proposal to withdraw the order and the decision will be notified this week.

Peninsula to buy stake in Mumbai land for Rs 400 cr

Mon, Apr 25 2011

The realty developer Peninsula Land is under the process of buying stake in a Mumbai land parcel for close to Rs 400 crores. In a partnership with HEM Bhattad Developers and IL&FS, Peninsula will will build a residential project on the 18-acre Sewri land.

Realty heads for crisis as banks refuse more loans

Fri, Apr 22 2011

The Indian realty market, which is still under the effects of global economic slowdown, seems to be heading towards another financial crisis, as banks and other financial institutions are refusing to lend to the sector leading to increase in pressure on loan repayments by the sector.

Mohali urban estate freed from litigation

Thu, Apr 21 2011

With a 56 year old petition dismissed, the Mohali urban estate has become free from litigation and available for development. The dismissal of the petition by the Supreme Court was regarding the land acquisition in Knowledge City in Sector 81, Mohali.

DDA housing draw: One family wins three flats

Wed, Apr 20 2011

The results of the recent draw of Housing Scheme by DDA have stunned a family, who won three flats in a row. Rahul Gautam (22) and his two sisters are the lucky winners of DDA housing draw.

Income Tax department to review all realty deals to unearth black money

Tue, Apr 19 2011

In a revert to allegations of rampant use of black money in many realty transactions, the Income Tax Department has said that it will take appropriate action against wrongdoers. The department would begin scrutiny of property deals in the National Capital Region and follow it up in other metros, said Sudhir Chandra, the chairman Central Board of Direct Taxes.

Soon, residents can dial their complaints to HUDA

Mon, Apr 18 2011

In a breakthrough move, the Haryana Urban Development Authority (HUDA) has decided to set up a call centre to look into the complaints of the residents. “By next week, we will issue a tender notification for private firms in this regard,” said HUDA Administrator R K Kataria.

Real estate prices likely to remain stable in Mumbai

Sat, Apr 16 2011

In a bid to supplement the ongoing projects, the realty major DB Realty is going to sign MoU with Hacker Kuchen GmbH, the Germany-based home and kitchen modular furniture maker. Hacker Kuchen GmbH will supply 900 kitchen modulars for DB Realty’s various projects.

Real estate prices likely to remain stable in Mumbai

Fri, Apr 15 2011

One of real estate industry’s top official has stated that realty prices in the Mumbai city are like to remain stable in near the future. Since, there are no new supplies coming to the market as well as there were substantial increment in the construction costs, the prices are likely to remain stable.

DDA draw of lots for 16,000 flats next week

Thu, Apr 14 2011

The Delhi Development Authority (DDA) has announced the draw of lots for 16,000 flats next week. It will hold a draw of lots to select the successful applicants next Monday. DDA has received a total of 7.4 lakh applications under the scheme.

Ansal to set up Rs 100 cr Holiday Home project in HP

Wed, Apr 13 2011

Country’s one of blooming realty developers Ansal Buildwell has announced setting up of a premium housing project in Himachal Pradesh with an anticipated outlay of Rs 100 crore. The announcement came in along with plans to reach Rs 1,000 crore sales by end of 2011.

Moneylaundering watchdog to track all realty deals

Mon, Apr 11 2011

As soon as the government will make amendments in a key law that seeks to curb black-money transactions, the countries realty transactions will have to be reported to the country's anti-moneylaundering agency. The government plans to amend the Prevention of Money Laundering Act.

Credai to make code of conduct mandatory for members

Fri, Apr 8 2011

In a bid to streamline the members’ functioning, the Confederation of Real Estate Developers' Association of India (Credai), the apex body of private real estate developers, has said that it would make the code of conduct.

New norms slow down property registration

Thu, Apr 7 2011

The new norm of producing a ‘Building Sanction Plan’ and ‘Structural Safety Certificate’ to any form of registry, introduced by Delhi government, has brought steep decline in the registration of property transactions across different districts of Delhi.

Property in Dubai cheaper than Mumbai

Thu, Apr 7 2011

Since, properties in Dubai are far cheaper than properties in Mumbai, a majority of investors are inclined towards investing in Dubai real estate. As per Jones Lang LaSalle, the property Dubai is now 60 per cent less expensive than in central Mumbai.

Under scanner for not being J&K resident, businessman sells land cheap

Tue, Apr 5 2011

In a bid to escape from the confiscation by the state government, the Mumbai based land owner in Jammu has sold off 52 kanals of land having for just Rs 35 lakh. The state government was denying issuance of any permanent resident certificate (PRC) to him.

Revised property circle rates for Gurgaon effective today

Fri, Apr 1 2011

The decision taken by district administration for the revision of property circle rates in Gurgaon has been coming into effect from today. The rates have witnessed a 2 to 20 per cent increase on prevailing rates.

Commercial space demand in India to touch 160 mn sq ft by '14

Tue, Nov 30 1999

A recent study by Cushman and Wakefield Research has revealed a tentative rise of around 160 mn sq ft in the demand of commercial office space by 2014. The quantum of demand will mainly be concentrated in the metropolitan centres of Bangalore, Mumbai and National Capital Region of Delhi, the study says.