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- Asiad Village apartment sold for Rs 5 crore
In one of the recent transactions in Delhi, a 176 sq.m duplex apartment was sold for 5.05 Crore. The secondary sale transaction took place in the Asiad Village, a posh residential area in South Delhi, near Siri Fort Sports Complex and Auditorium. This is a 3 BHK duplex apartment with one courtyard and one garage. Asiad Village was built for Asian Games in the year 1982 and made available for sale to general public in the year 1986 by DDA. Mumbai An apartment in Santacruz, measuring up to 1,300 sq. ft. was sold for a total value of Rs 3.45 crore. A resale property commanded a average capital value of [...]
- Budget 2012-13: Expectations of the real estate sector
Commercial Office Real Estate 1. The implementation of the revised DTC will have strong implications on SEZs. The industry requires clarity on the issues that may emerge, and how businesses would be promoted in Special Economic Zones. 2. Taking cues from the healthy growth of IT/ITES in Tier I cities and its effect on the growth of employment, the Government should actively roll out an incentive-based IT policy (such as STPI) for Tier 2 and Tier 3 towns as well Residential Real Estate 1. Last year, a 1% interest rate subsidy was provided for loans towards affordable housing. The scope of this subsidy should be amplified and broadened to include [...]
- Noble Thamburaj planned to relax FSI on last day in office
Pune: As the CBI continues its probe into Lieutenant General Noble Thamburaj?s alleged role into an out-of-court settlement regarding a plot in cantonment area, another case throws light on how he, on his last day in the office of GOC-in-C, Southern Command, proposed an increase in FSI. Activists claim that the move was ?out of the GOC-in-C?s powers?. The decision was opposed not only by civic activists, but also by the Principal Director Defence Estates (PDDE). It was only when the subsequent GOC-in-C took over the office that the proposal was cancelled. Thamburaj held the office of the GOC-in-C, Southern Command, between October 2007 and December 2008 before assuming the [...]
- Encroachments Cleared, Berms Along Roadsides To Be Landscaped In DLF City
GURGAON: As a pilot project, the berms along the roadsides would be landscaped in DLF City. The encroachments upon the berms have been cleared and the landscaping work has started. Starting with Arjun Marg in DLF Phase I, the berms on other major roads like Akashneem Marg would be beautified in the coming days. Residents had encroached upon the berms by constructing boundary walls which were demolished last month. The 18m arterial roads were used as a parking space by market visitors and residents. After they were freed of illegal encroachments, the landscaping drive has started. The DLF City RWA came up with the beautification project concept by converting the [...]
- Punjab softens stand on UT periphery properties? case
Chandigarh: Finally, the Punjab government has decided that it will not oppose if the investigation of the case pertaining to alleged illegal properties owned by various high-ups in the periphery of Chandigarh is handed over to a special (judicial) Tribunal. The State has decided to convey to the Punjab and Haryana High Court that though there is no ?need? for a Judicial tribunal to probe the case, it is not ?averse? to the transfer of investigation to a judicial tribunal, if the High Court decides so. The final decision assumes significance since the Punjab government had till now vehemently opposed the transfer of investigation of the case to a Judicial [...]
- DLF, state govt get HC notice over allotment of 350 acres in Wazirabad
GURGAON / CHANDIGARH: Allotment of around 350 acre prime land, acquired for public purpose by Haryana government, to real estate giant DLF for developing luxurious golf villas and golf course in Gurgaon has come under the scanner of Punjab and Haryana high court. The HC on Thursday issued notices to the state government and DLF seeking their response on the issue. Division bench headed by Chief Justice Ranjan Gogoi has also issued notices to Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) and Haryana Urban Development Authority (HUDA) asking them to file a reply by April 19. DLF is developing air conditioned apartments/villas and an 18-hole golf course on the [...]
- Home loans: Buyers want RBI reply
GREATER NOIDA: With the NCR Planning Board making it clear last month that the Noida Extension impasse will not end before March this year, the buyers, who have been slapped with cancellation notices by several developers, are now on the war path. They have filed an RTI application with the Reserve Bank of India demanding to know how the banks, both private and government, sanctioned the housing loans for Noida Extension in the first place considering that many developers confess that they had known all along that the area was disputed. The buyers claim that the banks had taken processing fees during sanctioning of their loans for these projects after [...]
- Congestion, builders? disinterest stall redevelopment projects here
Mumbai: Being one of the most densely populated wards in the city, the E ward ? comprising Byculla, Mazgaon, Reay Road and Kamathipura areas among others ? displays the worst possible congestion and lack of sanitation. Having the highest number of decades-old slum and chawl settlements made up of old, dilapidated and cessed structures closely packed against each other, lack of redevelopment projects is the biggest concern for lakhs of people living here. As against the city?s average population density of 26,722 persons per sq km, E ward (spread over 7.32 sq km) has 59,538 people living in the same area, second only to C ward?s average of over 90,000 [...]
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