Indian real estate news

Burdwan district to launch an all-in-one app for integrated official information
July 14, 2015

Burdwan district to launch an all-in-one app for integrated official information14-July-2015 Burdwan district in West Bengal will soon launch an app, bringing all the government authorities, real estate dealers, emergency services and public services under one roof. The app, which is to be launched by CM Mamata Banerjee on 15th of July, is expected to improve governance in the district and facilitate better services to its residents....

Pune civic body takes measures to propel infra growth
July 14, 2015

Pune civic body takes measures to propel infra growth14-July-2015 In a bid to push infrastructural growth in the city, the Pune Municipal Corporation has formed a coordination committee to speed up the execution of various projects in the region. Projects involving more than two organisations or those requiring approval of other organisations will be brought before the committee. The committee will have representatives from various organisations and will meet every on first Saturday of every month....

Press Release

Asia Pacific Convention 2015 promotes cross-border business
July 14, 2015

Asia Pacific Convention 2015 promotes cross-border business14-July-2015 Industry players from all over the world attended the Asia Pacific Convention 2015. The two-day convention was hosted by RE/MAX Singapore in order to build a network among the real estate players of various countries. The convention saw participation of real estate players from Australia, China, India, Japan, New Zealand and Thailand, among others. Various educational sessions and networking sessions were organized in the convention along with an International Property Fair.

France to partner with India in Smart Cities Development Programme
July 14, 2015

France to partner Indian in Smart Cities Development Programme14-July-2015 France is willing to participate in the Smart City initiative of India, said Philippe Janvier Kamiyama, France Consul General in Puducherry. He further added that they will provide technology and all other assistance required to complete the project. According to Kamiyama, the initiative will help promote sustainable living in these cities....

Retail industries look towards Tier-II and III cities: JLL
July 14, 2015

Retail industries look towards Tier-II and III cities: JLL14-July-2015 With the impending saturation situation in metro cities, the retail brands are increasingly focussing on markets of Tier-II and III cities. Brands are doing their best to adapt to the market dynamics, including local culture, food and other demographic parameters in order to increase footfall. Size, design and format of stores are also being altered to cater to potential customers’ tastes....

Punjab developers seek government incentives to boost business
July 14, 2015

Punjab developers seek government incentives to boost business14-July-2015 Real estate players in Punjab are looking for various sops from the Central and State government in order to boost business. Some of the sops they seek are waiver on registration fee, slashing of stamp duty and collector rate and a separate counter to issue of NOCs to unauthorised colonies in the state. Transactions have dried up in the state and developers hope to boost sales with such incentives....

Developers may report higher profits in Apr-Jun 2015 as compared to the same span in 2014: Analysts
July 14, 2015

Developers may report higher profits in Apr-Jun 2015 as compared to the same span in 2014: Analysts14-July-2015 Analysts predict that developers such as DLF Limited, Oberoi Realty and Godrej Properties among others, will report higher net profit on earning in the June ending quarter, as compared to the same span last year. However, they also anticipate a decline in sales, especially in Mumbai and Chennai, in comparison to previous quarter. DLF is expected to report a rise of over 19 per cent on net profit....

Transit Oriented Development Zone to solve housing problem in Delhi
July 14, 2015

Transit Oriented Development Zone to solve housing problem in Delhi14-July-2015 Urban Development Ministry has approved a Transit Oriented Development Policy to solve Delhi’s congestion and housing shortage problem. The policy will allow both residential and commercial development along the metro corridor in a radius of 500 metre. Higher FAR of 400 will be provided as incentive out of which 60 must be used for EWS units....

Press Release

Puneet Dalmia invests Rs 50 crore in realty start-up
July 13, 2015

Puneet Dalmia invests Rs 50 crore in realty start-up13-July-2015 Puneet Dalmia, Managing Director, Dalmia Bharat Group has acquired 74 per cent stake in a realty start-up named PRITHU by investing Rs 50 crore. The startup plans to deliver better one-off homes in Delhi. Properties to be offered will range between Rs 2,300-6,000 per sq ft. The company claims to provide timely delivery and quality construction to homebuyers.

Dharamkot, Bhagsu see spurt of Illegal constructions in green areas
July 13, 2015

Dharamkot, Bhagsu see spurt of Illegal constructions in green areas 13-July-2015 Several illegal commercial buildings have come up in the green areas of Dharmakot and upper Bhagsu, announced the Town and Country Planning Department of Haryana. These building have not applied for the change of land use from green areas to commercial. In addition, these properties enjoy water and electricity supply....

Quick booking allows DLF to increase project’s market price
July 13, 2015

Quick booking allows DLF to increase project’s market price13-July-2015 DLF has decided to increase the market price of one of its Gurgaon-based residential project, Regal Garden, by 4 per cent from July 2015. Spread over 10 acres, the project has 516 apartments, out of which 90 per cent have been sold. Those left are being priced at Rs 6,500 per sq ft. DLF has increased the price at a time when the realty sector is facing a slowdown and the company itself has seen a drop in bookings....

Chennai’s real estate market may improve on the back of metro: JLL
July 13, 2015

Chennai’s real estate market may improve on the back of metro: JLL13-July-2015 The Chennai Metro is expected to positively impact the sluggish real estate market of the city, especially along the Alandur-Koyambedu stretch, stated a JLL study. Not only the unsold inventory is expected to be cleared but even the capital values are expected to rise by at least eight per cent along the corridor in the forthcoming months. It might also attract IT firms towards the area....

Delhi government plans more bridges on Yamuna to ease commutation
July 12, 2015

Delhi government plans more bridges on Yamuna to ease commutation12-July-2015 The Delhi Government is planning to build more bridges over the Yamuna River to ease commutation between Central, East, North and South Delhi. Currently there are eight working bridges over the river while two are under-construction. The state government is looking to increase the number to 20 and seeks central government’s aid to construct these bridges....

Tricity Leasing Association advises uniform hike of 5% on residential properties
July 11, 2015

Tricity Leasing Association advises uniform hike of 5% on residential properties11-July-2015 Tricity Leasing Association has proposed a five per cent annual hike on residential property values in order to bring uniformity to the sector. A seven per cent rise has been proposed for commercial property values by the body. It has also announced that both landlords and brokers will have to pay rent of one month as brokerage fee....

PUDA planning to better the Zirakpur and Dera Bassi Master plans
July 10, 2015

PUDA planning to better the Zirakpur and Dera Bassi Master plans10-July-2015 The Punjab Urban Planning and Development Authority (PUDA) is planning to improve the existing master plans of Zirakpur and Dera Bassi. The authority has called for participation by interested firms for the same. While the land allotted will remain the same, the authority is looking to maximise usage and better connectivity by updating the plan....

Maharashtra government to give 3-7 per cent tax rebate to green buildings
July 10, 2015

Maharashtra government to give 3-7 per cent tax rebate to green buildings 10-July-2015 The state government of Maharashtra is planning to give an average of five per cent rebate in property tax to green buildings. However, the government is yet to fix the definition of a ‘green’ or eco-friendly construction. Currently, Pune offers a similar kind of tax rebate along with five per cent additional Floor Space Index (FSI) to sustainable properties....

Building and Construction Authority of Singapore expresses interest in Smart City project
July 10, 2015

Building and Construction Authority of Singapore expresses interest in Smart City project10-July-2015 The Building and Construction Authority (BCA) of Singapore wants to participate in the Smart City initiative of India, said Koh Lin Ji, Group Director, BCA. The 7th edition of Green Building Week conference will be held in Singapore from 31st August 2015 and will run till 6th September 2015. Over 55 countries are expected to participate in the conference....

Private Equity investments on the increase in Chennai and Bangalore
July 10, 2015

Private Equity investments on the increase in Chennai and Bangalore10-July-2015 Private Equity investors, attracted by the increasing demand for residential properties and high absorption rate, are moving towards Chennai and Bangalore. Together, both the cities have seen about $615 million worth of PE deals in the last one year. Bangalore has the highest (12-15 per cent) absorption rate in India followed by Mumbai and NCR (10 per cent each)....