Daily interesting real estate news
2022-08-31
Kolkata: New homes for Durga Pithuri Lane residents by December 2024
The Kolkata Metro Rail Corporation (KMRC) will start handing over new houses - that will come up on Durga Pithuri Lane at Bowbazar - by December 2024. Twenty-three houses will be built in an open space at Durga Pithuri Lane once the Metro construction is over.
2022-08-31
Cuttack development body razes 26 illegal structures
The Cuttack Development Authorities (CDA) carried out an eviction drive in the Bidanasi area. Four excavators were engaged to demolish 26 illegal structures in the area. Soon after the drive began, a clash between the locals and police broke out.
2022-08-31
Industrial & Commercial Bank of China posts 15% increase in property debt
BEIJING: Industrial and Commercial Bank of China Ltd (ICBC) , the world's largest commercial lender by assets, said soured lending to the real estate sector in the first half of this year rose 15%. The lender reported 38.8 billion yuan of non-performing loans (NPL) at the end of June, compared with 33.8 billion yuan at the end of last year. This means that the NPL ratio for the real estate sector stood at 5.47%, compared to an average for the bank of 1.41%.
2022-08-31
Housing prices rise in 42 cities in Q1 of FY23: NHB
Housing prices rose in 42 cities in the first quarter of 2022-23, while the rates of residential units fell in five cities and remained stable in three cities, according to the price index Residex released by NHB. All the eight major metros recorded an increase in the index on an annual basis - Ahmedabad (13.5 per cent), Bengaluru (3.4 per cent), Chennai (12.5 per cent), Delhi (7.5 per cent), Hyderabad (11.5 per cent), Kolkata (6.1 per cent), Mumbai (2.9 per cent) and Pune (3.6 per cent), National Housing Bank (NHB) Residex said.
2022-08-31
Indiabulls Housing mulls raising up to Rs 1,000 crore through bonds
Indiabulls Housing Finance will raise up to Rs 1,000 crore by floating bonds in a public issue scheduled to open on September 5. The fund raise plan is within the shelf limit of Rs 1,400 crore. The tenor of the bonds is of 24 months, 36 months and 60 months, and will offer interest in the range of 8.33-9.54 per cent.
2022-08-31
Property registrations in Mumbai up 20% in August 2022: Report
Property registrations in Mumbai municipal area this month rose 20 per cent to more than 8,100 units -- highest in 10 years for August -- but fell 28 per cent. Mumbai city (BMC area) saw property sale registrations of 8,149 units in August 2022, contributing over Rs 620 crore to the state revenues, Knight Frank India said in a statement.
2022-08-31
Thiruvananthapuram: New order from LSGD gives major relief to land owners
In a major relief to the land owners whose private plots got wrongfully included under public zones in the interim development order (IDO), the local self-government department has issued an order allowing provisions to grant building permits in such plots. The LSGD order states that applicants can be given building permits on plots for constructions up to 300 sq m.
2022-08-30
Mumbai: Bhendi Bazaar redevelopment gets stop-work notice
Municipal commissioner Iqbal Chahal issued a stop-work notice for the 16.5-acre Bhendi Bazaar cluster redevelopment project. The notice came within two days of deputy chief minister Devendra Fadnavis announcing an in-depth inquiry into the project following complaints of change in layout plans affecting road widths.
2022-08-30
Mumbai: BMC had Rs 3,000 crore in property tax to collect, says CAG
The comptroller and auditor general (CAG) of India has said property tax collection had a low efficiency of 53% across urban local bodies (ULBs) in Maharashtra from fiscal 2015-16 to 2019-20, and the BMC was among the worst performers with collection touching barely 28%. Civic officials said BMC's total outstanding property tax was Rs 3,048 crore.
2022-08-30
Have completed 500 slabs for PMAY housing complex in 489 days: CIDCO
The Maharashtra government's City and Industrial Development Corporation (CIDCO) said it had completed the casting of 500 slabs for tenements under the Pradhan Mantri Awas Yojana in just 489 days. The residential complex for which these slabs have been cast is coming up in Taloja node of Navi Mumbai, an official said. We have been able to cast over one slab per day at this site using modern technology, he said.