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IKEA seeks Land at Kandla port in Gujarat

IKEA seeks Land at Kandla port in Gujarat

NEW DELHI: Upbeat on infrastructure growth in India, Swedish furniture giant IKEA has evinced keen interest in a proposed cluster at Kandla port and sought 450 acres for the same, Union Minister Nitin Gadkari today said. “We have proposed furniture clusters at the Kandla port. IKEA wants 450 acres of land,” Road Transport, Highways and Shipping Minister Nitin Gadkari said. The retailer is ready to...

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Noida Residential Land Rates hiked by 14.19%

Noida Residential Land Rates hiked by 14.19%

For group housing, the minimum reserved price which was between Rs.35,420 and Rs.93,750 depending on the category of sectors the rate has been raised to Rs.41,940 to Rs. 111,000 Residential land rates in Noida are set to go up. New Okhla Industrial Development Authority (NOIDA) Board at its meeting held on Thursday gave approval for a 14.19 percent hike in land allotment rates. All land...

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New exit policy to help Noida Realtors looking to surrender surplus Land

New exit policy to help Noida Realtors looking to surrender surplus Land

NEW DELHI: Authorities in Noida-Greater Noida region one of the biggest housing markets in the National Capital Region may soon implement an exit policy for builders looking to surrender surplus land, even as Noida Authority decided to increase land allocation rates in the city. Authorities of Noida, Greater Noida and Yamuna Expressway will soon firm up a proposal on this and send it to the...

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single window clearance for housing projects Urged to Tamilnadu Govt

single window clearance for housing projects Urged to Tamilnadu Govt

CHENNAI: The AIADMK government, which has won a record second consecutive term in office, should take steps to revive the real estate sector in the state by introducing single window clearance for housing projects, according speedy approval for building proposals and revisiting related policies, builders have said. Builders associations say the inordinate delay in obtaining planning permission is a major reason for the rise in...

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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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