NEWS WINGS


Buyers of under-construction flats may get tax relief

Buyers of under-construction flats may get tax relief

NEW DELHI: The Delhi High Court has said that home buyers cannot be charged service tax on payments made towards purchase of under construction apartments from builders if the total value of the apartment includes the land value. However, service tax can still be levied on preferential location charges (PLC) that builders charge from buyers. The court also said that if the developer has already...

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#MUMBAI & #BENGALURU : Suburban office rentals are neck & neck with the central business districts

#MUMBAI & #BENGALURU : Suburban office rentals are neck & neck with the central business districts

BENGALURU | MUMBAI: Office demand in suburban locations or secondary business districts is outpacing that in the central business districts across India’s major markets. Experts said the trend that began with Mumbai, with the shift in preference from Nariman Point to the Bandra-Kurla Complex over the past few years, has moved to other cities as well and started reflecting in the rentals commanded by these...

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Lucknow’s peripheral areas set to get a new development authority

Lucknow’s peripheral areas set to get a new development authority

LUCKNOW: For all those heading towards the city outskirts to buy houses, here is good news – a new development authority, Lucknow Regional Development Authority, is in the offing on the patterns of National Capital Region (NCR) around Delhi. The decision is to encourage planned construction and provide better infrastructure in the area which has been struggling with encroachment, poor facilities, underdevelopment and faulty construction....

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InvITs, REITs likely to be launched in 2017

InvITs, REITs likely to be launched in 2017

MUMBAI: The much-awaited Infrastructure Investment Trusts ( InvITs ) and Real Estate Investment Trusts ( REITs ) are likely to be launched in the country next year, says a study. “Currently, the market for REITs and InvITs is relatively nascent in the country. However, with various enabling factors such as the growth of the economy and the middle class, and a concomitant need for housing...

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#REIT-eligible #commercial #realty market in India estimated at $43-$54 billion

#REIT-eligible #commercial #realty market in India estimated at $43-$54 billion

BENGALURU | MUMBAI: Indian #commercial #real estate offers investment opportunity worth $43 – $54 billion across the top 8 cities including Mumbai, Delhi-National Capital Region, Bengaluru and Pune through #REIT-eligible ready stocks, said a report . Further, it is estimated that approximately 315 million sq ft of office inventory is eligible for REIT across the cities. The REIT-eligible inventory includes existing non-strata sold Grade A...

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Jaipur to be 1 st Light House City of South Asia

Jaipur to be 1 st Light House City of South Asia

JAIPUR: Jaipur would be the first smart connected community Lighthouse City in South Asia. With the announcement, which came on Wednesday, Jaipur has joined the league of Cisco Lighthouse cities globally such as Hamburg (Germany), Barcelona (Spain) and Adelaide (Australia). Cisco Lighthouse City status credential is assigned to a list of selected cities all over the world. The Lighthouse City engagement would be enabled through...

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13 new smart cities picked by Center govt

13 new smart cities picked by Center govt

Lucknow, New Town in Kolkata, Bhagalpur and Dharamsala are among the 13 urban centres picked to be developed as smart cities under the Modi government’s ambitious plan for an urban overhaul. Chandigarh, Faridabad, Raipur, Ranchi, Warangal, Agartala, Imphal, Port Blair and Panaji are the other cities chosen on Tuesday through a fast-track competition. Meant to change the way urban India lives, smart cities will enjoy...

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Develop smart cities keeping their strengths in mind

UDAIPUR: There cannot be a universal formula for developing a smart city as every city has its own strength in terms of heritage, geographical location and environment, and the smart city mission will keep these factors in mind while developing them in Rajasthan, state Urban Development and Housing Minister Rajpal Singh said, on friday. “There cannot be a universal formula for developing a smart city,...

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Increase focus on commercial realty development by Builders in India

Increase focus on commercial realty development by Builders in India

#MUMBAI | #BENGALURU | #NEW DELHI: Real estate #developers are increasing their focus on #commercial real estate, which saw a record sale of around 36 million sq ft last year. The rising interest is also generated by falling vacancy rates and constrained supply of grade A office spaces as most #developers have not launched any major commercial project since 2009. The #investment activity in commercial...

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Ranking system for #Mumbai #builders on the cards

Ranking system for #Mumbai #builders on the cards

MUMBAI: The BMC will rank builders and architects on the basis of their completed projects and share the information in the public domain in about a month’s time to help property buyers make an informed choice while choosing a home. At present, buyers usually have to go by the public perception of builders and architects while purchasing properties. They have little option but to accept...

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