Residential Property News

Sahara launches construction Joint Venture with Turner

Fri, Feb 10 2012

Sahara India has formed a construction joint venture with US-based Turner to build projects worth $25 billion over 20 years in India. Sahara, with assets of $26 billion, has global interests in finance, infrastructure and real estate, hospitality and media and entertainment.

SBI trims housing loan processing fee

Mon, Jan 16 2012

In a move that may give huge relief to home loan borrowers, State Bank of India has reduced the home loan processing fee. SBI has halved the processing fee amount. The home loan customers will be able to enjoy this relief January 11 onwards, a senior official said.

Himachal Pradesh to introduce circle rates for land registration

Sat, Dec 3 2011

The Himachal Pradesh government is soon going to bring in circle rates for assessing the stamp duty for registration of land. Taking its cue from states like Haryana, Uttar Pradesh and Uttarakhand, the HP cabinet has taken decision to introduce circle rates.

India's infrastructure sector needs $1 trillion investment in 12th Plan

Fri, Nov 18 2011

A recent report has revealed that infrastructure sector in India will require a whopping investment of about USD 1 trillion in the 12th Five Year Plan, which is double the amount envisaged in the ongoing plan period.

Realty Bill to up ops cost by 10-15%

Thu, Jun 2 2011

Sreedhar Reddy, president of Andhra Pradesh Realtors Association and NAR-India has said that the proposed real estate regulation Bill may lead to increase the cost of operations by 10-15 per cent. The introduction of this bill would necessitate assured quality products, and legalized property.

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.

Yoo! super luxury comes calling

Tue, Dec 21 2010

The Indian realty market is seeing a stupendously viable market for super luxurious residential spaces in Pune. There are around 1,000 apartments now under construction will be ready for handing over in the next two or three years.

Mumbai residential prices seen rising 15%

Sat, Dec 18 2010

Hiranandani Constructions, one of the top Mumbai based realty builder, has stated that it expects a rise in the Mumbai property prices by 15 per cent in 2011 even if there is a slowdown in the property market.

'Axe all affordable housing taxes'

Thu, Dec 16 2010

The Indian realty sector is seeking relaxation for affordable housing taxes. The CREDAI on Wednesday urged the Government to cud down duties and other levies for affordable housing projects in India.

Mangalore to get 35-floor luxury residential project

Wed, Dec 15 2010

The Mumbai-based SKS Netgate Pvt Ltd. will commence the development of one of the tallest residential projects in Mangalore (Karnataka). Under this ‘Planet SKS' project, which is going to be launched on Wednesday, it will build 35-floor residential tower.

2-bedroom flat scheme launched in Chandigarh

Tue, Dec 14 2010

The Chandigarh Housing Board (CHB) has announced the opening of a scheme of 160 two-bedroom flats in Sector 51-A. These flats will be offered in two price ranges; the one is priced for Rs. 50 Lakh band (only ground floor flats) and rest flats are priced for Rs. 47 Lakh.

Allotment of flats in Dwarka starts

Tue, Jul 20 2010

The allotment of flats in certain group housing societies in Dwarka has been picking momentum, as Delhi government has started the process. Delhi government has been proceeding with only those flats that were intact of any investigation by CBI.

Realty developers sign deals for IT space

Tue, Jun 29 2010

The great comeback of IT and ITES industry in Andhra Pradesh has given boost to the office space demand in the state. Some of top realty developers like Rahejas and Divyasree have signed up deal with big IT companies for more than 32 lakh sq ft of office space.

1-BHK flats in Mumbai's old Khar society sold for Rs 4.5 crore

Tue, Jun 22 2010

Each family in the Khar housing society has been gifted by a whopping sum by a builder for their mid-sized flats. Mumbai-based Parinee Developers has been buying off their flats, hence it has shelled out between Rs 4 crore to Rs 4.5 crore for a one-BHK flat and Rs 5 crore to Rs 5.5 crore for a two and-a-half-BHK.

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.

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.

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.

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.

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.