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Property News
Property appreciation up by 33 % Date: Dec 01 2012
While Hebbal leads among the areas in city with 67 %, CV Raman Nagar registers 40 % growth   Property prices in Bangalore have gone up by 33 per cent in third quarter of 2012 over the corresponding period in 2010. According to a study conducted by 99acres.com, North Bangalore: With a wide range of high end projects developing in Bangalore North, Hebbal has seen 67 per cent price rise in the last two years. In Bangalore East, CV Raman Nagar has seen has the highest price appreci...
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Forum of Flat buyers wants VAT refund: Mumbai Date: Nov 22 2012
 Sales tax department is calculating the VAT (value added tax) paid by almost 10,600 registered dealers and developers, a group of chartered accountant that has formed a forum of oppressed flat buyers who were very much tensed by the VAT procedure is now asking the developers to refund their amount. The forum operated through a website called www.flatvat.com have asked all the buyers who have registered at their website to ask for a debit note or tax invoice and also a receipt of...
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Limit for society flat transfer charges is Rs. 25,000/- Date: Apr 21 2012
Advocate SR Agarwal answers queries from DNA readers on property matters and society issues Ours is a registered housing society. At the time of selling the flats by the promoter/ builders an undertaking was given to the banks/ financial institutions, (where the buyers had availed of the loan for the purchase of the flats) that the share certificates would be submitted to such institutions, as and when the society is formed. Now society has been formed and the share certificates...
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Why real estate funds are a better investment vehicle Date: Apr 21 2012
A look at various implications in terms of the risks and benefits that it entails   In hindsight, real estate has been a common sense way of prudent investing. Any investment made during 2001-2007 has shown healthy positive returns over medium and long term horizon of 3-7 year. Come 2008 and the returns on this asset class has not been a one way journey. Investments made in 2007-2008 may not have yielded any positive return. 2009 was another good period for direct real estate...
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RBI's policy decisions may reduce loan rates Date: Apr 21 2012
Akshaya Tritiya 2012 could be a much happier occasion for the real estate sector with expectations of cheaper funding in the near future boosting buyer sentiment   There is a unique correlation between the price tag of a home and the rate at which one can raise a loan to finance it. Both aspects have almost equal importance for home seekers across India. This is why the decision of Reserve Bank of India (RBI) to cut the repo rate by 50 basis points and abolish pre-payment pena...
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Commercial property absorption plunges by 32% in Jan-Mar: CBRE Date: Apr 09 2012
New Delhi: The commercial property has a bad opening in the first three months of 2012 as office space drops by 32percent. In the country’s seven major cities office absorption at 4.1 million sq ft during January-March2012 comparatively previous year-ago period on global economic slowdown and fall in India’s GDP growth, property consultant CBRE said. In a statement CBRE mentioned that, “the year 2012 has begun on a sluggish mode with o...
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SC rejects Ghai's plea for Goregaon Film-city Date: Apr 09 2012
New Delhi: The Apex Court has upheld the Bombay High Court’s decision to quash the 20acre land of Goregaon Film-city which has been allotted to film producer Subhash Ghai for his film institute. The bench of justices comprising H. L. Dattu and C. K. Prasad also mentioned the name of erstwhile chief minister of Maharashtra Vilasrao Deshmukh for allotting the land in 2004, saying the CM cannot bend or bypass rules to give away government land. ...
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How will Budget 2012 affect Mumbai real estate market? Date: Mar 23 2012
The Positives (1) By allowing external commercial borrowings (ECBs) in the low-cost housing segment, the supply of affordable housing projects will increase in the outskirts of Mumbai in areas such as Karjat, Boisar, Nalasopara, Virar, Dombivili etc. on the heels of increased liquidity for budget home projects. (2) The extension of 1% interest subvention scheme on housing loans up to Rs 15 lakh wherein the cost of the house does not exceed Rs 25 lakh, for another year will also h...
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MCHI bags PR award Date: Mar 23 2012
The Maharashtra Chamber of Housing Industry (MCHI) has won the ‘Organisation of the Year’ award for PR Excellence. Instituted by Public Relations Council of India, The Chanakya Awards are given annually for outstanding achievements. This year the event was held during the sixth Global Conclave hosted by the Mumbai Chapter of PRCI. Rajashree Birla, Chairperson, Aditya Birla Centre for Community Initiatives and Rural Development, presented the award to Shehnaaz Khambatta, ...
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Mhada will soon into JV with Pvt developers Date: Mar 17 2012
Mumbai: Maharashtra Housing and Area Development Authority (Mhada) is likely to get into joint venture (JVs) with private builders to boost the affordable housing units across the city. According to the new proposed policy, owners of land or private builders will get extra Floor Space Index (FSI) 2.5 on Mhada lands, it means developers will get 1.75 instead of routine 1 FSI for transferring their ownership to Mhada. The civic body will get to utilize...
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