Budget baffles builders
Construction industry reads between the
lines as dust settles down, says R. Suryamurthy
booming real estate sector had
hoped that Finance Minister P Chidambaram would brandish his magic wand and
unleash slew of sops, which would enable the common man buy the dream house at
an affordable cost. Booming economy, marred by upward curve in the inflation,
might have cautioned the Finance Minister in the aam admi government to
concentrate more on roti than on makaan in the Budget 07-08.
Cosy affair for hoteliers
Ruchika M. Khanna finds out that tax holiday
will attract more players
2007 has brought cheers to the
hospitality sector in the country. Buoyed by high growth rate, hoteliers feel
that the proposals for the sector in the industry would give a new push to real
estate and further their growth prospects. Five-year tax holiday for two, three
and four-star hotels in the National Capital Region is set to give a major
boost to the real estate business.
HUDA’s extension directive
Speculators, allottees in a dilemma in Gurgaon, says Ravi
Haryana government’s decision not
to allow extension for more than seven years to the plot holders/owners in
Haryana Urban Development Authority (HUDA) sectors for construction of houses
has effected a crash-down in prices in real estate relating to residential
HUDA’s policy on no extension beyond seven years has hit speculators.
— Photo by Malkiat Singh
Situation ditto in Panipat
20 pc tumble in prices, says Arun Sharma
revised extension policy of Haryana
Urban Development Authority (HUDA) has hit the prices of plots in the open
market hard. The prices have tumbled in the city by up to 20 per cent during
the last fortnight and are bound to come down further in near future, feel real
Only the fittest will survive
The time is right to invest in real estate,
Opera-CCPL chief tells Pradeep
spurs the real estate market and
the recessionary phase may end with the formation of the new government in
Punjab. This, coupled with the expected growth in global realty, should put the
real estate market back on rails bringing cheers to the investors and
end-users, says Ajay Vir Sehgal of the Opera-CCPL Group.
Boom time for Hisar realty
boom time in the property market of
Hisar and nearby areas of the region. The upswing in the prices of commercial
as well as residential property is likely to continue for quite some time with
a number of outsider investors targeting the city.
Srinagar gets marriage
Ehsaan Fazili discusses about a convention
centre that has been a trendsetter in the Valley
with facilities for holding different social functions mainly the marriages,
cultural and political events, has come up in Srinagar’s posh Sanatnagar
The mini convention complex or marriage hall, standing out as a unique complex.
— Photo by Amin War
Banks extending repayment
doubt on the appeal of the Finance
Minister, public sector banks have decided to hold on interest rate on home
loan at current rate but keeping in view the scenario — annual closing in
March 31, it is not possible for public sector banks to hold on interest of
home loan. Public sector banks have been forced to rework their margins.
Greater Hyderabad with
The proposed mega-project is driving up the property rates in the
surrounding areas, says Ramesh Kandula
estate is expected to receive a
boost with legal decks being cleared for the formation of Greater Hyderabad by
the Andhra Pradesh High Court. It was in July 2006 that the Andhra Pradesh
Cabinet had approved the creation of Greater Hyderabad and proposed to invest
Rs 800 crore to strengthen the infrastructure.
A township on the outskirts of Hyderabad.
No dry welcome this!
Satish Narula tells about pliant trees and
charming cacti that can enchant while greeting a visitor
say it with flowers is the
traditional way of conveying feelings on different occasions.
Even in the deserts, cacti are the potent signs of life and support hundreds of other lives too.
— Photo by Manoj Mahajan
Radio jigs to realty tunes
inflation, ever rising home loan
rates and escalating property prices notwithstanding, the good old radio is
smiling all the way to the bank, thanks to the advertising spends of real
estate and retail companies. According to a study by marketing research firm
TAM Media, advertising revenues for the radio industry crossed the Rs 500-crore
mark in 2006.
Illustration by Sandeep Joshi
Opacity hits growth
investments in the Asian real
estate sector has the potential to grow robustly in the long term, but
infrastructure and lack of transparency would pose a challenge for the global
investors, especially in India, a study says.
Venture-funded realty firm
Prakash Gurbaxani, well-known entrepreneur with experience in a wide variety of
industries, has announced the launch of his new venture, QVC Realty, which was
stated to be the first venture-funded real estate company in India. Gurbaxani,
along with 10 members, will form the core management team of QVC Realty, a
company press note said.
Satra Prop to set up hotel
Nagarjuna to raise $180 m
Alfa Laval bids for Indian arm
Mantri to invest in IT parks
Aussie firm clinches deal
Landlord husband, tenant wife
By S.C. Vasudeva
Q. I am an employee of a private firm. I am receiving HRA from the
company with which I am employed. I intend obtaining a receipt for the payment
of house rent from my spouse who is the owner of the house so that due
exemption under IT rules is allowed. Will I be taking a correct step and
whether I would be allowed such benefit?