Real Estate Blogs

Half of the Mumbai’s 40-odd malls are struggling & Empty

Half of the Mumbai’s 40-odd malls are struggling!

The credit card swiper at her desk makes Supriya Maiti burst into a fit of helpless laughter. The machine hasn't belched a bill in almost a year, despite the sign on the jewellery showroom's glass door that says "20% off".

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Man sold house to get Rs 81 lakh in fake notes

Man sold house to get Rs 81 lakh in fake notes

A Thane-based educationist, who runs a school with his sister at Diva, was recently conned by three people who got his flat registered in their name and paid him Rs 81 lakh in fake notes for it. Police said it was a classic case of a victim lured by an offer that is higher than the prevailing market rate, and not realising that there could be something dubious behind such unwarranted generosity.

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REIT's may solve India's real estate problem: Knight Frank Research

India faces shortage of fresh supply of houses, the Technical Group on the Estimation of Housing Shortage projects the total shortage of dwelling units in urban areas in 2012 to be 18.78 million, said a report by Knight Frank Research.

The estimated slum population in India is 94.98 million in 2012. As against this, the number of dwelling units sanctioned under JNNURM in seven year Mission period was 1.6 million.

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CREDAI hails State approval for multi-level parking in apartments

The Confederation of Real Estate Developers’ Associations of India (CREDAI) Chennai, on Tuesday, hailed the government’s approval for multi-level parking in apartments in the city as a decision that would relieve parking space pressure and enhance the architectural aesthetic in the city by “tucking parking space into the structure”.

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Real Estate Regulatory Authority Bill to be introduced soon!

Withstanding objections from real estate bodies and industry pressure groups against the proposed Real Estate Regulatory Authority Bill, the housing and poverty alleviation (HUPA) minister Ajay Maken, on Tuesday, said the bill will be introduced before parliament during the Budget session.

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Real estate, bullion charm Indian investors

The preferred asset for Indian investors is real estate sector, followed by gold and silver, a survey today said.

“The investment pattern in the country suggests that investment flow have been highest in the traditional modes of investments such as in real estate market followed by gold and silver,” the survey of PHDCCI said.

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Builders’ body plea challenging value-added tax levy dismissed

Mumbai-based builders will have to finally pay 5 per cent Value Added Tax (VAT) to the Maharashtra Government. The Bombay High Court has dismissed a petition filed by MCHI-Credai that challenged the levy. Maharashtra Chamber of Housing Industry-Confederation of Real Estate Developers Association of India (MCHI-Credai) is a representative body of builders in the State.

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Reforms breathe life into retail sector

In Hyderabad, HyperCity is halving its 143,000 sq. ft big box hypermarket store to 70,000 sq. ft Likewise, in Amritsar, the store is being cut to 40,000 sq. ft from 120,000 sq. ft. That’s is not all. The hypermarket retail chain subsidiary of Shoppers Stop Ltd, India’s oldest department retail chain, is also launching a more compact 28,000 sq ft store format early next year.

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HDFC PMS looks at exiting real estate investments. Plans to start AIF

HDFC Portfolio Management Services (PMS), a unit of HDFC Mutual Fund, is exploring the possibility of exiting some of its real estate investments before it launches its next real estate fund, said an investment banker in the know of things.

The exits are to the tune of Rs 800 crore-Rs 1,000 crore and range between Rs 100 crore and Rs 250 crore per investment, the banker, said.

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New lease policy will worsen real estate slump: builders

The hike in lease rates, announced in the new leasehold policy, will affect the monthly rents that tenants who occupy old buildings pay. The policy will also further drag down the real estate market, builders said.

“We will have to pass on the burden to tenants,” said BR Bhattad,

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