Tamilnadu Construction materials prices up, home buyers down

In Tamilnadu prices of many of the many construction materials have increased manifold in the last one year. So, Builders feel that their hands are tied. One year ago,  bricks cost for 3,000  Rs. 18,000 against Rs. 10,000. The Same period  steel prices have crossed Rs. 45,00…

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Black money deals in Indian realty Sector: Now under CIB , IT scanner

Real estate deals above a huge amout in metros like Mumbai, Delhi, Chennai will be tracked by the IT (Income Tax) department, in its bid to intensify vigil over unaccounted black money floating in the system. The crackdown by the department will not only cover real estate f…

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India 6 Crore sq. ft of office space is likely vacant in 2011

In India about 6 Crore sq. ft of office space is likely to remain vacant current 2011 across the country as fresh supply enters the market, according to a recent report by property consultant In the JLL (Jones Lang LaSalle) report In Mumbai alone, around 8 crore sq. ft of …

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Ashiana Housing net up 11% during Apr-June quarter

Indian realty firm Ashiana Housing has reported 11% up in its net profit at Rs 13.04 crore for the quarter ended June as against Rs 11.71 crore in the year-ago period. The revenue, however, declined marginally to Rs 42.51 crore during April-June period of this fiscal agains…

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Oberoi Realty Q1 net up 60% to Rs 137 crore

Real estate developer Oberoi Realty has reported a 60% jump in its net profit to Rs 137.36 crore for the first quarter of FY 2010-12 as against Rs 85.82 crore in the same period last year. The company posted a 29.72 per cent increase in total revenues at Rs 215.07 in the qu…

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DLF's net debt up to Rs 21,500 crore

India's leadig Real estate company  DLF's  net debt had increased by Rs 100 crore during the Apri l-June quarter this 2011-12  fiscal to Rs 21,524 crore. Same time it expects that borrowing would start moderating from this quarter onward. DLF, which  reported a 13% …

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Property : Income Tax on Capital Gains

What is Income Tax on Capital Gains? Profit arising from sale of capital assets is Capital Gains. Major Capital Asset is Property. It means home/ flat/ office/ plot/ Agricultural Land. CAPITAL GAINS Types of Capital Gains – There are two types of Capital Gains 1.   Long Term C…

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RBI Customer service committee favours uniform floating interest rates

Indian Banking regulator, Reserve Bank of India (RBI) formed a  Customer service committee headed by former Sebi chairman M Damodaran . Retail bank fixed depositors need not worry their money under the mattress during crisis, such as the one in 2008, as deposit insurance, la…

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Land deal for Ambani's 27-storey tower may come under CBI lens

The Maharashtra Government is considering the Centre's suggestion to refer to the CBI (Central Bureau of Investigation) the sale of Wakf Board land to Mukesh Ambani for building ultra luxury residential tower ‘Antilla'. The 27-storey Antilla, in affluent South Mumba…

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DLF plans to sell Gurgaon plot for Rs 400

India's biggest real estate firm DLF is selling a 27.5 -acre plot of land in Gurgaon for nearly around Rs 400 crore. The plot has all approvals and permissions for building a group housing project in place, including an approval for a built-up space of 20 lakh sq ft. Re…

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