Godrej Properties and Jet jointly launch commercial project

A commercial project will be developed by Godrej Properties; in collaboration with Jet Airways, in the Bandra Kurla Complex area.

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 passed: Key-Focus on affordable houses

With a special focus on affordable houses, Delhi Development Authority has passed its DDA Budget 2013-14. Preservation of green areas is another main focus included in the DDA budget.

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 »

India to face severe housing shortage: Knight Frank

In the coming years, the housing shortage will be more in India, reported Knight Frank. Realty consultant firm added that the supply of houses will be shorter than the number of homes demanded.

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 »

Rs.1L Deduction to First – Home Buyers: Budget 2013 Proposes

Recently announced Budget 2013-14 has proposed Rs.1L Deduction to the home buyers who will be buying their first home.

Those who are preparing to own their first home will be glad to hear that they will be given Rs.1L as deduction in their interest. However the new proposal of Budget 2013 will be helping only the first time home buyers and not the entire home buyers who aim to gain their second or third homes. Read More »

Illegal building owners to be hit hard by GHMC’s penalty

The owners of illegal building will be hit hard by the Greater Hyderabad Municipal Corporation which plans to impose an additional penalty on the owners of these owners.

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 »

Union Budget 2013-14: How it affects the common folk?

The Union Budget 2013-14 can be considered as a moderate one as it deals all the sectors moderately. The Union Budget 2013-14 was announced and presented in the parliament on Feb -28.

Union Budget 2013-14 gave nothing superb to the common people. However the Budget 2013 -14 was presented in a way that it does not overburden the common folk in any way.

On the other hand the Union Budget 2013-14 can be said to have the ultra-rich class people as target. Overburden is imposed on them while the common people are avoided of many of such overburdens. Read More »

Environment Ministry to Ease Green Norms

In a move to boost the real estate sector and construction of high-rise buildings, environment ministry now plans to ease the Green Norms.

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 Deep Into Troubles: Delhi Investor Moves SC

A Delhi-based investor; requesting SC to give directions to redeem his investments, approached the Supreme Court last day. The move of the investor leads Sahara into deep troubles.

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 »

Connaught Place & BKC Hold Most Expensive Office Spaces

Connaught Place and Bandra-Kurla Complex are the two hottest office locations. Both Connaught Place and BKC have found place among the list of Asia-Pacific Region’s most expensive office locations.

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 »

DDA to Probe Dubious Land Dealings in Delhi

As per the direction of the Delhi High Court, Delhi Development Authority (DDA) will probe against the illegal deals of plots in the city.

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.

Bangalore Residential Market Now Sees More Green Buildings

Bangalore Residential Market now has now a number of green buildings. According to the experts this is going to be the latest trend in the Bangalore Residential Market.

Bangalore Residential Market has always one of the better residential markets in India. There are many who own a home in Bangalore and settle in the city. However there is more stability for the residential market in the city as this is mainly end-user guided. Read More »

Iyyapanthangal Booms with Connectivity & Infrastructure

As the connectivity of the area got developed along with your infrastructure growth, Iyyapanthangal in Chennai has become one of the most favorite home destinations.

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 Lowered As Multiplexes Are Fewer

Sluggish real estate market indirectly affects Bollywood collection. Bollywood remain unable to amass good revenue as there aren’t many multiplexes to project the Movies.

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 »

Sahara Firms’ Assets Attached By SEBI: Projects Affected

SEBI finally attached the assets of two Sahara firms which failed to comply with the Supreme Court order. Earlier in the last year, Sahara firms were fined to repay the amount raised through OFCDs.

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 »

Yamuna Expressway Awaits Master Plan 2031’s Approval

Yamuna Expressway Authority; asking the approval from the state government, has sent a revised draft of Master Plan 2031 for developing the first phase in the area.

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 »

Unsold Properties Boost Homebuyers’ Sentiments in Pune

Remaining unsold properties in Pune boost the sentiments of the home buyers who expect to gain properties at lower rates after a good bargain with the builders.

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 »

DDA Plans to Reconstruct Dangerous Buildings

Delhi Development Authority (DDA) plans to reconstruct some dangerous buildings in the city. DDA is prompted by the increasing incidents of building collapses.

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 Likely To See Faster Growth Of Realty

Real estate market in Ghaziabad is expected to grow faster with the arrival of new link road. The new 22 Km –long link road will connect Ghaziabad and Greater Noida.

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 »

RBI Cut Rates; Residential Market Likely to Revive

According to realty experts the residential market across India has revived after RBI cut its rates recently. In fact the RBI’s rate cut has lowered the interest rates for home loans and other loans.

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 »

Ahmedabad Development Authority Bans Conversion Of Agri. Land

Ahmedabad Development Authority (AUDA) finally blew the whistle for obtaining NA for agricultural land. AUDA, banning the conversion of agricultural land for other purposes, issued notice in the last week.

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 »

Vacant Properties In Vadodara Exceed 1-Lakh; RTI Reply

Vacant Properties in Vadodara is said to have crossed 1-lakh figure. The list of vacant properties in Vadodara came up in an RTI Reply issued to a native of Vadodara.

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 Pauses India-Entry; Upset By States’ Veto Power

Concerned over the States’ veto power in matters related to foreign investors’ entry into their states, global retail major Walmart has remained hesitant to enter India.

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 »

Residential Market in India Likely To Grow Theme-Based

Residential market in India is likely to grow theme-based, say realty experts. In their opinion there is a greater possibility for theme-based housing to grow.

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 »

English Cricketers Plan To Invest In Indian Properties

Sources close to the England Cricket Team revealed that some of the English Cricketers plan to invest in Indian properties. According to the sources they have shortlisted the cities as well.

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 Development Authority Likely To Raise FSI

Ahmedabad Urban Development Authority (AUDA)  announced its Development plan on February 1. The new plan raised the floor space index (FSI) up by 30%.

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 »