Residential markets across major cities of India have seen significant appreciation in values towards the close of 2009. This trend is most in NCR and Mumbai, the two key residential markets in India , where values in Oct-Dec 2009 appreciated , compared to the same period the year before, says Cushman and Wakefield in a report. Continue reading »
The urban development ministry will seek a review of the proposed service tax levy on sale of housing projects under construction. The levy has been proposed in Budget 2010-11.
“The urban development ministry feels the proposal of service tax needs review. I am recommending the review of the proposal,” Urban development minister Jaipal Reddy told reporters here on Friday. Continue reading »
Gujarat State Road Transport Corporation (GSRTC) has decided to make random check of its drivers and conductors to prevent them from running buses under the influence of liquor. The vigilance squads of GSRTC have been given breath analyser machines to keep drivers or conductors under check. Continue reading »
With a view to increase bilateral trade and investment between Canada and Gujarat, Marvin Hildebrand, the consul general of Canada – western region, on Friday paid a visit to the state. He met industries commissioner, Gujarat government, BB Swain, and senior officers of iNDEXTb. The consul general expressed keen interest in the business opportunities in diamond sector and development of the Gujarat segment of the Delhi-Mumbai Industrial Corridor (DMIC). Continue reading »
Home buyers and property developers need not worry about being levied a service tax if they cannot procure a completion certificate from the local authority. The government could allow some independent authority to certify that the property is complete. Continue reading »
The largest real estate company DLF today said any further increase in interest rates by the Reserve Bank in the forthcoming annual monetary policy review could put upward pressure on prices.
“The Reserve Bank increased the rates to ensure that a bubble does not get created in the market. There is no bubble today. It was a precautionary step by the RBI. But, I do hope there is no more surprises from the RBI,” DLF chairman KP Singh said when sought his reaction on the recent hikes in the short-term lending and borrowing rates by 25 basis points to rein in runaway inflation. The RBI will announce its annual monetary policy on April 20. Continue reading »
Despite RBI’s reservation on teaser scheme, in which banks offer home loan to the new borrowers at lower interest rate than that to the old or existing customers, State Bank of India (SBI) indicated at extending its special home loan scheme beyond March 31.
However, the bank will re-jig the rates. At present, SBI charges 8% in the first year and then 8.5% in the second and third year. As the cost of the fund has gone up, a senior official of the bank said that the bank may increase the rate marginally. Continue reading »
Roads leading from RTO to Chandkheda are going to shrink as the Ahmedabad Janmarg Limited’s (AJL) work on segregating BRTS corridor begins next week.
While the work will help speed up the efforts to bring the premier transport system to this part of the city, citizens are also worried about the digging work adding to the traffic woes. Continue reading »
Ahmedabad University is in discussions to have an agreement with Stanford University. A delegation of the latter is in the city to explore the possibilities of a tie-up with city based premium institutes. While the Ahmedabad University authorities have confirmed that they are in talks with the Stanford University, they did not reveal further information. Continue reading »
Zoharavar Khan can’t stop thanking the lady who brought him luck. By driving the Nano factory from Singur in West Bengal, Trinamool Congress leader Mamata Banerjee seems to have unwittingly done hundreds of villagers, like Khan, a huge favour. Continue reading »