The Gujarat government has planned to drastically reduce the impact fee. The impact fee is a registration charge for legalizing illegal structures in the state’s urban areas. According to sources the state urban development department has decided to fix a “nominal fixed value” for regularizing illegal properties in Ahmedabad and other cities by charging the [...]

It is known to all that the South Mumbai business hub of Nariman Point has traditionally commanded the most expensive rentals in India and has been among the top 10 costliest spaces in the world. The trend has changed, and it is recorded that the rent for commercial properties in Noida are costliest in India. [...]

The Industrial Industries Association (IIA) of Meerut is demanding to locate the industrial area around the proposed outer ring road under the Meerut Master Plan 2021. The proposed industrial park lies on the Delhi-Meerut highway. At present the industrial clusters are scattered all over Meerut. The government has found that as the industries are scattered [...]

Jubilee Hills, is known as hot commercial destination by both retailers and corporate bigwigs. A recent study reveals that about 50% of the commercial space in Jubilee Hills is currently lying unoccupied. Of the 72 buildings constructed over the last three-four years along Road No36, Jubilee Hills, only 33 boast full occupancy. The rest are [...]

About 15% of total houses in Gujarat are empty. Leading the pack of cities, properties in Ahmedabad and Surat has maximum number of vacant houses. A large number of these units belong to investors, who buy houses and exit after booking profits. Usually, about 7% houses remain vacant in Indian cities. In Ahmedabad, a large [...]

Bombay Realty, a part of Bombay Dyeing and Manufacturing Co. Ltd, has planned to contribute more than half of its revenue towards the development of properties in Mumbai and retiring the group’s high-cost debt. The group has nearly 10,000 acres of land, including 700 acres in Mumbai alone. The lands which are there in Mumbai [...]

The Union Ministry of Housing and Urban Poverty Alleviation is in the process of finalizing the brand new affordable housing policy for residents of India. According to sources it may take another two months to complete the process of formatting the bill. The government had already allowed external commercial borrowing for low cost houses in [...]

In a report by a global property consultancy firm it is came to know that Hyderabad, Chennai and Pune are among the top five cities in the world with the lowest office occupancy cost. Total occupancy cost includes real estate price, infrastructure and efficiency of buildings. Costs have come down in these three cities because [...]

It is a known fact that property in rapidly-developing cities as Bangalore will find demand across all price points. At this point in time, moving funds from riskier equity-based investment avenues to the stable realty space is an option worth considering. Just as in the case of equity, property too is a medium to long-term [...]

After the high court has directed to remove all constructions falling in the catchment area of Sukhna Lake, the authority has carried out a demolition drive to pull down houses and upcoming structures in Kansal and Nayagaon areas. The drive was carried out by a team of 12 officials, which pulled down 12 structures. The [...]

Like other metro cities in India, green buildings will also be constructed in Ranchi. All the coming up real estate projects in Ranchi has planned to implement the concept of green building. The constructions are going on for the projects of Central Institute of Psychiatry Kanke, Indian Institute of Management Ranchi, and Central University of [...]

The NRI business group Maangalya has invested in real estate business in India. The group Headquartered at Singapore has wide ranging operations in Malaysia, Indonesia, Philippines and India. Maangalya Developers had executed both commercial and residential properties in Bangalore. At present Maangalya has undertaken two Projects Maangalya Ashirwad and Maangalya Prosper. Maangalya Ashirwad is a [...]

The property tax department of Pune has started a short message service (SMS) that will inform citizens about their tax dues on their properties at Pune. The municipal commission has declared that those who wish to get details of their dues by text messages should type NI, followed by their property number, and send it [...]

Banks are the major source of funds for the realty sector in India. Due to steady downfall in demand, the real estate companies were not able to repay their bank loans. In a report submitted to the Lok Sabha, it is reported that almost 7 lakh crore of bank loans are still to be paid [...]

The employees of defense public sector unit BEML have created housing co-operative in Karnataka. The top management of the housing society are now under the CBI scanner for alleged irregularities in the purchase of Tata trucks, has been accused of allotting as many as 63 residential sites in violation of housing co-operative rules in 10 [...]

The Haryana Government is planning to increase the property registration rates for the financial year 2012-13. The expected hike in the property registration rate may be around 15%. The rate of registration cost for the properties in Gurgaon has witnessed several hikes in last one year. 20-33% hike in registration cost was announced by the [...]

The hospitality industry in India is witnessing increasing number of private equity investments in various projects. In 2010, the industry saw only five private equity deals with a cumulative value of $­1­56 million. By 2011, the d­e­al amount grew to $299 million and during the first five months of 2012, hospitality industry has raised $121 [...]

Vivarta Maagan, a residential apartment in Bangalore developed by Daya MK Developers Pvt Ltd. Kamanahalli is a prime location in Bangalore town and traveling to and from Kamanahalli is easy. Nice road connect to all major areas including Electronic City, Hosur Road. Connecting to Mysore Road is less than 2 KM which is in the [...]

Princess Tower in Dubai has been recognized by Guinness World Records as the world’s tallest residential building. It is 107 storey tall luxurious residential complexes in Dubai. Measuring 414 meters from base to tip, the tower comprises six basement floors, a ground floor and 100 above-ground residential levels. The tower is constructed over an area [...]

Maangalya Prosper is constructed in the midst of the Anjanapura Township. The township is one of the largest layouts formed by the Bangalore Development Authority. It is constructed in 4 acre of land. 274 apartments were constructed in two blocks under this project. There is more than 80000 sq ft space available for lovely landscaped [...]

The NCR Planning Board has recently approved a new Master Plan 2031. There is a lot of scope for infrastructural, residential and commercial development like widening of roads with elevated structure and underpasses, flyovers, greenery, high rise buildings, hotels, major Metro and road linkage projects to ease traffic, etc in the new plan. According to [...]

Realty sector in Bangalore is facing a tough time as IT industry demand goes down. The absorption rate of office spaces are dropping across India’s seven largest cities. Uncertain economic conditions coupled with the euro zone crisis leads to this situation in the Indian real estate sector. Demand from IT/ITES sector has dropped from the [...]

The real estate sector in India will witness a flow of new or follow-on private equity (PE) funds in the market. Though funds launched last year found it tough to raise money, 2012 has seen more firms jumping on the fundraising program. According to data it is seen that PE deals in realty have come [...]

It is found that there are no takers for nearly 1.1 million sq ft, or 11 lakh sq ft of ready office space in Mumbai’s commercial property market. The high vacancy in turn, has put pressure on commercial rental rates. In uncertain economic conditions companies are staying away from leasing space, which leads to the [...]

Haryana Urban Development Authority (HUDA) has decided to construct the Sohna Road in Gurgaon. The Sohna Road is a 6-km stretch road starting from Rajiv Chowk till Badshapur. HUDA had sanctioned funds amounting to Rs 48.53 crore for the project. The government handed over the project to PWD’s (B&R) Haryana State Road Development Corporation (HSRDC). [...]

Minister of State for Transport in Maharashtra was arrested for alleged involvement in a housing scam related to construction of 11,000 low-cost houses in Jalgaon, north Maharashtra. Construction tender was floated by the Jalgaon Municipal Council in 1997 for the housing scheme. It promised to provide nine plots for the project. It was found later [...]

The US private equity firm Blackstone has planned to invest in different real estate projects in India. As an initiative the private equity firm wants to buy the two special economic zones in Gurgaon and Noida and an IT park in Kolkata in a deal worth over Rs 3,000 crore from Unitech. Unitech has been [...]

Acquiring land for industrial and infrastructure development in India will be a tough job after the Land Acquisition Bill get confirmation of the parliament. The industry is alarmed by the panel’s suggestion that the government should no longer help the private sector buy land.  Instead, they recommend the government should intervene in negotiations with landowners [...]

Land acquisition is happening for the construction of Churchgate-Virar elevated rail corridor. This acquisition is going to impact several middle classes, upper middle class households with apartments in the area. According to the list of the plots of land that will have to acquire will impact close to 100 residential properties in Mumbai. As of [...]

There is good news for those real estate companies in Mumbai whose projects have been stuck due to regulatory approvals. The Maharashtra government is now looking to fast track the clearances of the project in Mumbai. Real estate in Mumbai has witnessed low launches in 2011. This was happened due to slow project approval process [...]