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My Home Constructions to invest $2 billion in commercial project in Hyderabad

Hyderabad-based My Home Constructions, a premium real estate residential and builder, plans to invest $2 bn to develop India’s largest commercial project. The firm plans to develop a 25 mn sqft of office project in the financial district of Hyderabad apart from expanding its residential footprint. “The entire project will be funded through internal ...

July 22, 2021

Akshaya join hands with SCAN to build homes for parents of differently-abled adults

Leading real estate player Akshaya has signed up with SCAN (Special Child Assistance Network), a Chennai-based NGO, for what they call first of its kind initiative – an inclusive housing project – Akshaya Today – that is aimed at addressing the concerns of parents of people with special needs. The SCAN Inclusive Housing project, ...

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July 22, 2021

Office space leasing touch 10.9 million sq ft in top six cities: Report

NEW DELHI: Leasing activity across six major cities in India during the first half of 2021 dragged to a six-year low, according to a recent report by Savills India, an international real estate advisory firm. In the January-June 2021 period, office absorption in six major cities stood at approximately 10.9 million sq ft, down ...

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July 22, 2021

Telangana: Registration charges, guideline values revised from July 22

Telangana government has hiked registration charges and guideline value for land with effect from July 22. After the formation of Telangana, there has been a substantial appreciation of land value. The ‘Guidelines Market Value’ also known as ‘Basic Value’ for registration was last revised in 2013. The lowest value for agricultural lands has been ...

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July 21, 2021

Lack of cheap houses is forcing migrants to leave, say Noida’s entrepreneurs

NOIDA: Amid apprehension of a third wave of the pandemic, Noida’s entrepreneurs have flagged the need for a permanent low-cost housing solution for the city’s migrant workers. They claim that the unavailability of cheap housing and inadequate medical facilities are the two reasons why migrant workers are forced to leave the city in times ...

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July 21, 2021

Implementation of RERA in West Bengal sought

Home buyers’ body, the Forum For People’s Collective Efforts, has written to the Union Minister of Housing and Urban Affairs urging implementation of RERA in West Bengal. The forum said nearly two months have passed since the Supreme Court struck down the State’s West Bengal Housing Industry Regulation Act (WBHIRA) calling it ‘unconstitutional’. But ...

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July 21, 2021

Home buyers in Kolkata fret as software glitch holds up registration

KOLKATA: Nearly two weeks after the state budget announcement of 2% reduction in stamp duty and 10% slash in circle rates for properties registered by October 30, new home buyers have been unable to take advantage of the twin concessions due to a glitch in the registration software. The worst hit are those who ...

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July 21, 2021

Ahmedabad civic body to issue property tax bills based on carpet area in Bopal

AHMEDABAD: Bopal residents will be issued their first municipal property tax bills, based on carpet area formula, between September end and October second week. Most of these bills will be between 2.3 to 2.5 times the existing nagarpalika bills, claim civic officials. The Ahmedabad Municipal Corporation (AMC) had begun an elaborate carpet area survey ...

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July 20, 2021

IWG snaps up WeWork office spaces in London and New York

BENGALURU: Office space provider IWG is set to open eight new shared-office centres in locations including London and New York, five of which were previously operated by its U.S.-based rival WeWork, as it seeks to meet the growing need for flexible work spaces. Two of the former WeWork properties are located in Kensington, London, ...

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July 20, 2021

Delhi HC orders CBI probe over mail from ‘DONOTREPLY@incometaxindiaefiling.gov.in’

The Delhi High Court ordered a CBI enquiry in a case where an e-mail was sent to a taxpayer from the official email id of the Income Tax Department. The department has disowned the mail. “As the allegation pertains to a sensitive server belonging to the Ministry of Finance/Department of Income Tax and involves ...

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July 19, 2021