January to March 2012: Prices of Property in Chennai Up By 33.33%

Prices of residential property in Chennai, Delhi & Faridabad have risen the steepest in the one year period up to the end of the first quarter (April 2011 to March 2012) of the calendar year 2012. Present levels of NHB (National Housing Bank) Residex, an index which tr…

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Single Window Clearance for Housing Construction: Minister Kumari Selja

The central  Housing & Urban Poverty Alleviation Minister, Ms Kumari Selja said, ''Developers need to focus on affordable (low) rental housing as land acquisition has become one of the biggest constraints in urban India. The Minister called upon real estate pla…

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Prompt Property Festival : Inaugurated by Mr. Jayakumar, Today Last Day

Chennai based Prompt Property Festival provides unique opportunity to meet the leading Builders and Flat Promoters/Builders to develop partnerships & obtain the latest trends in the property market. It is on going at Chennai Trade Centre, Chennai being organized by Prom…

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2012-13: Interest Rate on GPF Raised to 8.8 %

In a move which will benefit  crores of employees, the government has raised interest rate on contributions to GPF (General Provident Fund ) and other similar funds to 8.8% for 2012-13. The interest rate on such funds was 8.6% during the December 2011 to March 2012 period, …

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Vivendi Ventures: New Project Villagio near Oragadam, Chennai

Tamilnadu capital  Chennai based real estate company Vivendi Ventures has launched Villagio, with the theme of creating a ‘21st Century Village’ that will offer the old world charm of a rural village combined with modern facilities at Vattambakkam village near Oragadam, Ne…

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Indian Real Estate Funds : SEBI New Norms

Indian stock market regulator SEBI's ( Securities and Exchange Board of India's) norms for AIF (alternative investment funds ) are likely to make life difficult for real estate fund managers, forcing them to adopt new ways to attract investors. Recently, SEBI notifi…

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Ambuja Realty : Introduces Unique Lease Back Scheme

Kolkata based realty player  Ambuja Realty in  is coming up with 2 unique properties with a novel lease back scheme for both the properties at Raichak on the Ganges, 35 km off Kolkata. The 2 new properties will also mark Ambuja Realty’s maiden entry into time sharing busi…

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Housing Loan Enquiries Doubled : Arun Thukral, MD, CIBIL

Low ticket housing loans have decreased by half to 22% of all loans during the past 5 years because of steep increase in property prices. Mr. Arun Thukral, MD, Credit Information Bureau of India Ltd (CIBIL) said, ''In the metros the loan ticket size of less than Rs. …

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If New House Sold In 3 Years, Tax Exemption Will Be Revoked

Ms. Parizad Sirwalla, Partner - Tax, KPMG The income tax implications on sale of house properties &  agricultural land have to been seen separately. House properties: We are assuming that the house properties have been inherited by you &  your brothers jointly in an …

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