News & Facts

Faridabad: The city that is getting driven toward development Faridabad has just been included among the 13 cities marked for being developed into smart cities last month. The reason for this inclusion is Ortune which was listed as a smart city very recently and also due to the established metro connectivity. Lately, the aim of the authorities has been to improve the infrastructure in this city and develop service industries. While people are looking for housing segments in Gurgaon, they will ... Read More
1000 plots being handed by Yamuna Expressway Authority any time soon An announcement made by the Yamuna Expressway Industrial Development Authority on Saturday said it would hand 1000 plots to people under the 2009 scheme, out of 21,000. However, even after 7 years of launching the project, the authority failed to give possession to 21,000 allottees. In 2009-10, the authority conducted a draw to allot plots to people. At that time in 2009, the cost was Rs.4750 per sq meter. The sizes of plots r... Read More
$2 billion likely in investments from Japan into the Indian real estate New Delhi, Jun 15 (2016) Official reports confirm that the Indian realty industry is attracting developers and private equity investors to pump in $2 billion in the residential and industrial projects soon. Realty consultant JLL India said in a report that India is emerging into one of the major residential as well as industrial hubs. Wanda, the Chinese developer has signed an MoU with the Haryana government some... Read More
India is becoming a notable commercial real estate hub. Anshuman Magazine, CMD, CBRE South Asia, said, "In the last few years the commercial side of real estate business has really picked up well in India. At rank seven, Connaught Place (CP) seem to be attracting people and leasing out office spaces steadily. The location of it has been an advantage to attract banks, financial institution s and other engineering industries to setup their offices there. On the whole, India has grown to be one of... Read More
Bengaluru’s Manyata Tech park facing tax evasion charges The leading IT Park in Bengaluru, The Manyata Tech Park has been charged with tax evasion to the tune of Rs.273 crores by the authorities. The amount calculated in penalty along with interest on the basis of Rs.2 per sq ft for the period from 2008 up to 2016 has amounted to Rs.273 crores roughly. Official reports have confirmed very recently. A BBMP official said that Manyata Tech Park had to pay Rs.10 per sq ft as property tax sin... Read More
Relaxation of REIT rules makes real estate stock to jump up to 4% Real estate stock has increased by 4% due to the relaxation in the REIT rules. NEW DELHI: The SEBI relaxed rules on the REIT (Real Estate Investment Trust) in the recent past which has resulted in the increase of real estate stock by 4% and increased investment in the under-construction projects. The restriction on the SPV – Special Purpose Vehicles was removed for the money to be invested in other SPV holding the assets. A... Read More
Hike in Noida residential land by 14 percent Depending on the type of sectors the group housing prices have been revised. The price range was between Rs.35,420 and Rs.93,750 and has now been increased to Rs.41,940.There is a likelihood that the rates of residential land in noida will get increased very soon. An approval has been given by the Okhla Industrial Development Authority (NOIDA) Board to hike up the land rate by 14 % approximately. This will take effect very soon. Howe... Read More
Tata Housing sells 200 flats in Gurgaon at a price of Rs.300 crore Tata Housing MD & CEO Brotin Banerjee said: "We have had an overwhelming response to our project which will continue to be and seen success from the beginning." NEW DELHI: Tata Housing has sold about 200 flats in Gurgaon and had an overwhelming response from the public. The real estate arm of Tata Group, "Tata Housing" has sold around 200 flats at a rate of Rs.1.8 crore each from its project called "La Vida" on the Dwarka E... Read More
Astra Zeneca land at Hebbal costing 290 Cr. to be purchased by Embassy group The famous pharmaceutical company AstraZeneca which is undergoing re-structural activities has closed their Bangalore Operations at Hebbal research centre. The owner of big business parks of Bangalore, Embassy Group is negotiating with pharmaceutical company Astra Zeneca to acquire their 12 acre property near Hebbal. The value of this property would be around 290 Cr. The British company would be selling this property ... Read More
Ghaziabad to experience increase in house tax by 5 percent GHAZIABAD: The executive committee of the Ghaziabad Municipal Corporation has decided to hike the house tax by 5% the decision was made on Wednesday, this week. The same will be submitted to the members of the board on the 25th of June.In the previous year, there was a proposal to increase house tax by 10% when the proposal had originally been for 25%.D K Sinha, additional municipal commissioner, GMC said, "The committee has given green... Read More
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