Realty News


Tata Realty to invest Rs 1,700 crore in next 2-3 years

Business Standard August 21, 2012

Apart from Rs 600 crore for developing roads, TRIL to invest Rs 180 crore in Logistics, Rs 160 crore in developing real estate. Tata Realty and Infrastructure Ltd (TRIL) proposes to invest over Rs 1,700 crore in two to three years for various projects in the country, including Rs 550 crore in Kochi for a premium waterfront residential property, 'Tritvam', at Marine Drive.

Nashik builders register with sales tax department

The Times Of India August 21, 2012

NASHIK: Following instructions, builders in the city have started registering with the sales tax department of the state government.Moreover, the Confederation of Real Estate Developers' Association (CREDAI) has reportedly decided to pay value added tax (VAT) of 1% from April 1, 2010 , while the matter of paying backdated VAT for the past four years from April 1, 2006 to March 31, 2010 is pending with the Supreme Court. The hearing is set for August 31.

Finmin to move Cabinet to push infrastructure projects

The Times Of India August 21, 2012

In a bid to remove bottlenecks for implementation of several large infrastructure projects to boost investment, the finance ministry has decided to approach the Cabinet for removal of environmental and funding hurdles. The decision was taken on Friday when economic affairs secretary Arvind Mayaram and financial services secretary D K Mittal met officials of key infrastructure ministries to discuss public-private partnership projects worth over Rs 1,000 crore that have been delayed.

Bengal to build 33,000 homes for poor

The Hindu Business Line August 21, 2012

West Bengal Urban Development Minister Firhad (Bobby) Hakim said on Saturday that “large buildings” were being viewed as a parameter for infrastructure and industrial development of a State. Speaking at the inauguration of Home Front 2012 – a real estate expo, Hakim said: “People coming from outside will judge the level of industrialization and development of a State through such large multi-storeyed buildings.”

Mend land policy to push realty, infrastructure

SME TImes August 21, 2012

The relaxation of rules by the Prime Minister's Office (PMO) on transfer of government land in a bid to speed up public-private partnership (PPP) projects in infrastructure sector is, indeed, significant. Especially so when economic growth has dipped to a 9-year low, amid infrastructure and realty projects hanging fire due to delayed approvals. 

Residential property prices hit the roof even as demand cools

Business Standard August 21, 2012

Despite a slowdown in the realty market, residential property prices have risen 33 per cent in Greater Noida, 30 per cent each in Noida, Gurgaon, and Mumbai and 35 per cent in Chennai over a period of one year ended June 2012, according to a report by brokerage firm Kim Eng Securities.

Unitech cut debt by Rs 325 cr in 2011-12

Business Standard August 21, 2012

Realty major Unitech reduced its consolidated net debt by Rs 325 crore during 2011-12 to nearly Rs 5,400 crore. The company's debt stood at Rs 5,399 crore as on March 31, 2012, according to audited result of last financial year. 

Land pooling scheme notified: Haryana Govt

Financial Express August 21, 2012

Haryana government today said it has notified a new land pooling scheme whereby the landowners are given an option to get developed land against land acquired for industrial or infrastructure development. Referring to the salient features of the new scheme, a spokesman of Haryana Industries and Commerce Department said the landowner would have the choice to opt for developed land measuring 1200 square yards for each one acre of land proposed to be acquired in lieu of the "compensation package and all other benefits admissible under the Rehabilitation and Resettlement (R and R) Policy" of the government.


Naredco submits formal proposal on affordable housing

The Hindu Business Line August 21, 2012

The National Real Estate Development Council, a body of real estate developers, has called upon Central and State Governments to facilitate development of affordable housing by the organised private sector.In a proposal submitted to the Ministry of Housing and Urban Poverty Alleviation, Naredco said it has asked the Government to incentivise affordable housing projects developed by private sector on its own land.

Peeved realtors take on govt for water misery.

Hindustan Times August 21, 2012

In the wake of the HC ban on groundwater for construction purposes, real estate developers in the city have come down heavily on the Haryana government for failing to provide adequate water despite charging them crores of rupees in the form of external development charges (EDC). National Real Estate Developers Council (Naredco) and other realty organisations are planning to become a party in the ongoing case in the Punjab and Haryana High Court to put across the industry's concerns and also "to protect the interest of lakhs of end-users and investors who have purchased housing units and plots" in upcoming projects.



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