Tag: State Government

Mumbai Builders Strike Plan Dropped

Mumbai builders have called off their strike scheduled for May 3. The Maharashtra Chamber of Housing Industry and the Confederation of Real Estate Developers Association of India had called for a one-day token strike protesting the delay in project approvals and against the State Government’s move to establish a housing regulator. The Builders Association of […]

Realtors upset with policies of Bhubaneswar Development Authority(BDA).

The real estate developers on Thursday reacted sharply to the Bhubaneswar Development Authority’s (BDA) move to change the definition of “apartment” and “group housing.” Talking to reporters here, Confederation of Real Estate Developers Association of India (CREDAI) state president D S Tripathy said the new definitions are vague and will result in the harassment of people while […]

Realty Plus Excellence Awards to Real Estate Sector.

Realty plus Excellence Awards 2012 series for the northern region of India will be on March 21. The awards for South India and West India were given away on March 2 and March 9, respectively. Anuj Puri, Chairman and Country Head, Jones Lang LaSalle India, is the Jury Chairman for this year’s awards. The Realty […]

From April 15, State Government to implement the Affordable Housing Policy.

The affordable housing policy by the state government is set to be implemented from April 15. The policy will be implemented after the final notification within a month’s period with a preliminary notification already out. The decision got finalised in a meeting between Additional Chief Secretary (Urban Development Department) TC Benjamin and representatives of Confederation […]

Eighty Percent Of The Total Constructed Area For Financial Services In Mumbai

MUMBAI: India’s hottest property market, Mumbai, could see some shakeup in the commercial realty space. In a significant development, the Mahrashtra government has decided to allow all upcoming IT parks and IT specific buildings in the city to utilise 80% of the total constructed area for financial services, besides IT and IT enabled services. At […]

Salim Group’s Expressway Due To Land Acquisition Problem

Days after Chief Minister Buddadeb Bhattacharjee declared that Indonesia-based Salim group’s Expressway was put on hold due to the land acquirement problem, Prasoon Mukherjee, Salim Group’s pointsman and chairman of NKID (New Kolkata Infrastructure Development) expressed confidence that the other jumbo projects of the Group, including the PCPIR, are on track. Mukherjee said “We have […]

Goa To Appoint NRIs

Goa is set to become the first state in India to appoint non-resident Indians (NRIs) to various boards and corporations. Eduardo Faleiro, former minister of state for external affairs and currently Goa’s commissioner for NRI affairs, told, “Putting Goan expatriates on state boards and corporation is one of our various steps to reconnect them with […]

Hi-tech City Project In Kochi

Kochi will soon get international status with the upcoming of hi-tech city project worth five thousand crore rupees. The Bangalore-based Shobha Developers have signed up a MoU with the state government for setting up this hi-tech city. Sobha Hi-Tech City will be an incorporated city with focal point on research and development, knowledge dissemination, information […]

Cost Of Housing Projects Increase Due To Delay In Clearance

A day after HDFC chief Mr. Deepak Parekh stated that environmental clearances were leading to time delays and hence cost overruns in housing projects, industry body Confederation of Real Estate Development Association of India (CREDAI) has put a number to it. CREDAI Secretary Rohit Raj Modi said that these add at least 10% to 15% […]

IPSL Signs MOU With Jharkhand

Indiabulls Power Services (IPSL), a subsidiary of Indiabulls Real Estate, has entered into a memorandum of understanding (MoU) with the Jharkhand government for setting up of 1,320 mega watt (MW) power project, a statement sent to the Bombay Stock Exchange said. In terms of the MoU, government of Jharkhand shall facilitate and extend all assistance […]

Amanora Township Got The Sanction From Government

Amanora Park Town, the first township which got the sanction from the State Government, is all set to have another first in the field of ‘Environment Conservation’. The township’s ‘Temple of Environment’ is in the final stages of completion, said Mr Aniruddha Deshpande, Managing Director, City Corporation Ltd. The temple would be unveiled on the […]

Gujarat’s first IT SEZ Will Be In Sanathal

Ahmedabad, May 7 The Pune-based Vascon Engineers Limited has initiated construction of the state’s first Information Technology Enabled Services (ITES) SEZ at Sanathal village off the Sarkhej-Gandhinagar highway.

Rahejas challenge Goa Govt’s order to scrap SEZ

Rahejas, the real estate major, has challenged the Goa government’s decision to scrap the approved SEZ before the Bombay High Court. A senior company official said, “We have already made it clear that our SEZ was non-polluting and as such has no reason for the government to stop it. We have invested a lot of […]

Haryana Government Green Signal For Investment

Chandigarh: The Haryana government on 27th February cleared allotment of industrial plots to fifty-one units which would carry an investment worth two thousand three hundred crore in the state.

Laws for Possession of Immovable Property in India by a Person Resident Outside India

Under the law, the following categories can freely purchase immovable property in India: i) Non-Resident Indian (NRI) – that is a citizen of India resident outside India. ii) Person of Indian Origin (PIO) – that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran […]