REAL ESTATE
 



Property pre-launches ‘exposed’
With the police booking as many as 7 developers and builders for making pre-launch offers without getting licence or permission from the Town and Country Planning Department, Haryana, many investors may lose their hard-earned money, says Bijendra Ahlawat

Stark omissions in Gurgaon master plan
The draft of the “Development Plan 2021 for Gurgaon-Manesar” (Master Plan) notified in gazette has come as a damp squib for the industrial circles as it has failed to address the main area of concern of residential space for industrial workers and labourers.

Cashing in on nostalgia
NRI townships are the new rage among builders, says S. Satyanarayanan

Prices in Katra soar due to pilgrim boom
Many leading hotel chains have made a beeline for Katra with expectation of the number of Vaishnodevi pilgrims to touch 1 crore in the next few years. Due to this the land prices have soared in the town which is the base camp for the 13 km uphill trek to the cave shrine of Vaishnodevi.

Mall culture in backwaters of North
The retail revolution and mall culture coming up in the major cities of country, will soon sweep over the backyards in this prosperous region.

Home loans may get costlier, pressure on banks
The party for home-loan borrowers continue. But the Reserve Bank of India has asked banks to exercise caution while extending loans to the real estate sector. The mild, but stern warning in the central bank’s mid-term review of the annual credit policy for 2006-07 is bound to give sleepless nights to many.

Buzz on Bourses
Uppals’ Rs 5,000-cr SEZ at Gurgaon
Real estate developer Uppal Housing Pvt Ltd announced plans to start construction at its first multiservice SEZ property at Gurgaon in Haryana with an investment of over Rs 5,000 crore, company’s Managing Director Manish Uppal said.

TAX tips
No HRA receipt needed for rent up to Rs 3,000

Q. I am lecturer in a government college. My annual income is Rs 1,94,274. I have invested Rs 73,075 under Section 80C under LIC, PLI, GPF and GIS. My queries are:

FIIs allowed to participate in Parsvnath’s IPO
Delhi-based real estate agency Parsvnath Developers Limited would float an initial public offer within the price band of Rs 250 and Rs 300.

Realty market on high growth curve
Low interest rates, modern attitudes to home ownership, economic prosperity as well as a change of attitude amongst the young working population from that of “save and buy” to borrow and buy and liberalised foreign development investment regime these all have contributed to this boom. As per reports the Indian real estate sector is likely to emerge a 50 billion industry by the next couple of years. The real estate has also emerged as the hottest sector for private equity players after IT.

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