Godrej Properties will join hands with Jet Airways to develop a commercial project in Mumbai in the Bandra Kurla Complex area. Godrej Properties Ltd. (GPL) is the real estate branch of Godrej Group.
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DDA Budget 2013-14 has been recently passed by the Development Authority of Delhi. Affordable houses and the preservation of green areas are two major focuses of the DDA Budget 2013-14. Read More
In the years to come, India will be facing acute and severe housing shortage, warns Knight Frank. In the opinion of the global real estate consultant funding is one of the main factor that causes housing shortage. Read More
Greater Hyderabad Municipal Corporation plans to revise the existing building norms especially which are related to the illegal building constructions. By revising and imposing an additional penalty on the owners of such illegal buildings, the civic body aims to collect a good amount as revenue. Read More
You may be witnessing taller buildings along the narrow lanes and corridors. Yes, this will be possible if the environment ministry eases the green norms for construction. The builders will be happier ever as they now will be able to build more high-rise residential projects. Read More
Sahara falls from bad to worse situation as a Delhi-based investor approached the Supreme Court last day for gaining his investment dues. Though this is the first appearance of an investor against the Sahara group, the experts expect more investors to appear. Read More
According to the annual survey of Cushman & Wakefield, Connaught Place and BKC are the two most expensive office locations in Asia-Pacific region. Connaught Place is the fourth most expensive office locations in the entire world. Read More
Delhi Development Authority (DDA) is asked by the Delhi High Court to probe into the land deals in the city. After hearing the PIL filed by Mr. Rajesh Kumar, a Delhi –native, HC ordered the DDA to probe into the matter seriously.
In a PIL, Mr. Rajesh Kumar alleged that the allottees are going against the norms of the Delhi government in matters related to the land dealings. He informed the court that the allotted land is sold and purchased without considering the existing laws and norms of the city.
As per the law the allottees are not supposed to hand over the allotted land or plots to anyone for a specific period of time. Moreover the allottees are to gain consent of the DDA (Delhi Development Authority) prior to the sale and purchase of any land.
However Mr. Kumar stated that the land dealings are done without the knowledge of the Development Authority. Neither the seller nor the buyer is gaining the NOC from the DDA for the purpose of selling the residential plots allotted to each of them.
The HC Bench; headed by Chief Justice D Murugesan, consisted Justice V K Jain. The bench asked DDA to investigate into the matter and submit the report soon. However the petitioner had demanded CBI probe into the case.
The residential plots are allotted under large-scale development scheme. However these plots are illegally bought and sold without acquiring the permission of DDA.
The petitioner informed that the information is authentic and reliable as it was given to him by DDA in its reply to an RTI enquiry. Stating the authenticity and the loss of DDA in this regard, the petitioner demanded CBI probe into the matter. DDA is expected to lose crores of rupees through the illegal land dealings in the city.
Due to many supporting reasons Iyyapanthangal in Chennai has become one of the most favorite home destinations. Yet the growth of the area is mainly due to its infrastructure growth that provided better connectivity to the residents who mainly employed in the Sriperumbudur industrial belt and DLF SEZ. Read More
Bollywood collection is mainly from the multiplexes which are built mainly in the mall projects. Once the mall projects are affected by the sluggish real estate market, construction of the mall projects is also affected. In short this affected the collection of Bollywood movies which amass revenue on the basis per multiplex. Read More
Two Sahara firms’ failure to comply with the Supreme Court order which asked them to pay off over Rs.24000 Cr to its OFCD Investors, invited a harsh action from Securities and Exchange Board of India which; while attaching the entire assets of the firms, imposed a Freeze- Order on all accounts of Sahara Group.
However the movement of the market regulator SEBI to freeze the accounts of Sahara firms is expected to affect their current projects. Sahara India Pariwar’s Aamby Valley project will be one of the top projects which will be affected by the Freeze order. Read More
Builders and home buyers are happy as the Master Plan 2031 is likely to be approved by the Uttar Pradesh state government. Asking the approval from the state government, Yamuna Expressway Authority has already sent a revised draft. Read More
Large number of unsold properties in Pune gives a chance to the home buyers to have a good bargain with the builders and developers. Home buyers expect that the remaining unsold properties will force the builders to lower the prices to attract takers. Read More
Seeing the increasing incidents of building-collapses, Delhi Development Authority has decided to reconstruct some most dangerous buildings of the city. However DDA has to attain the consent of the flat owners to start the reconstruction. Read More
Ghaziabad is likely to see faster growth of realty in the city as the construction of Ghaziabad-Greater Noida link road has been resumed. The 22 Km link road will connect both the cities making it easier for the people to travel up and down. With the completion of the link road the travelling time will be reduced by great extents. Read More
Reducing the interest rates for home loans and other loans, RBI recently cut its key rates. The move of the RBI is believed to boost the sale of housing units as the buyers will be able to take loans at lower interest rates. In fact this will revive the residential market across India. Read More
Thousands of realty investors who have hugely invested in lands will be affected by the new development plan issued by Ahmedabad Development Authority (Urban). As per the new plan no more Non- Agricultural certificates will be granted. Read More
Arising confusion, an RTI Reply stated that there are more than one lakh vacant properties in Vadodara. According to the RTI Reply there are 1.2 lakhs of vacant properties in the city.
A recent RTI Reply has come up with an impossible number of vacant properties in Vadodara. All the people including the real estate developers and others, who know the industry well, have got a reason to raise their brows. In all of their opinion there is no chance in Vadodara to have huge vacant properties as the figure states. Read More
Walmart and along with the US government officials have met Mr. Anand Sharma, Commerce & industry minister for India. The foreign retail major has conveyed its anxiety over the veto power of the states. Read More
Theme-based housing will become one of the most attractive forms of housing. Theme-based housing, a marketing technique, is expected to revive the residential market in India. It will improve and raise the lowered hosing demand.
Recently Disney India has launched its theme-home business. This can be said to be the beginning point of a new housing trend. As per the new theme-home business the builders are allowed to use the Disney characters to promote their residential projects. Read More
Some top English Cricketers have conveyed their plans to invest in Indian properties. They have shortlisted the top cities like Bangalore and Mumbai as their favorite investment destinations. However some of them have plans to develop holiday homes in Goa, especially in South Goa. Read More
Ahmedabad Urban Development Authority has announced a 30% rise in the floor space index on February 1. The increased FSI will enable the builders to construct taller buildings. The new development plan will be applicable to around 68 villages and other areas of the city. Read More
