How will 2012 be for property buyers?

Mon, Dec 26, 2011

2011 was definitely a bad year for the real estate sector. Evaluate the sector on any performance indicators such as new project launch, demand or sales for the year. You will end up with same bleak picture. New project launches in the regions such as Mumbai Metropolitan and NCR (National Capital Region) went down by 60-70% as compared to previous year. And the worse, despite such low new project launches, more than half of them were remained unsold in 2011. This clearly indicates the pathetic demand environment that prevailed over the real estate sector in 2011. Read more..

NRI Property Acquisition

Source: RBI

Acquisition of immovable property in India by persons resident outside India (foreign national) is regulated in terms of section 6 (3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in the Notification No. FEMA 21/2000-RB dated May 3, 2000, as amended from time to time. Section 2 (v) and Section 2 (w) of FEMA, 1999 defines `person resident in India' and a `person resident outside India', respectively. Person resident outside India is categorized as Non- Resident Indian (NRI) or a foreign national of Indian Origin (PIO) or a foreign national of non-Indian origin... Read more..

Circle rates hiked by up to 250%

Thu, Nov 01, 2011

New Delhi: Registering your properties is all set to get costlier after the delhi governmet’s decision to hike circles won’t have a huge impact on real estate prices in the capital. The decision was taken in a cabinet meeting presided over by Delhi Chief Minister Sheila Dikshit on Monday. Read more..

Wave Infrastructure paid Rs. 375 cr as Stamp Duty for 151 acre land in Noida

Wave Infrastructure has paid about Rs 375 crore as stamp duty for registration of about 151 acres of land in Noida, which the company had won in the country’s biggest land deal for a whopping Rs 6,570 crore... Read more..

Emami Set to Merge Zandu Realty, Emami Reality and Emami Infrastructure

The Emami Group is merging three real estate companies under its fold — Zandu Realty, Emami Reality and Emami Infrastructure. Details would be revealed in 2-3 months,” said R S Agrawal, executive chairman. “It involves valuations and getting approval from courts and all these things would start by then,” he said in the company’s annual general meeting...        Read more..

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