Mumbai: According to a study by PricewaterhouseCoopers (PwC) and Urban Land Institute, a global non-profit education and research institute,India leads the pack of top real estate investment markets in Asia for 2010.The study is based on the opinions of over 270 international real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.
Residential properties are viewed as more promising than other sectors and Mumbai, Delhi and Bangalore top the pack in the hotel ‘buy’ prospects as well.The report,points out that India, particularly Mumbai and Delhi, are good destinations.The relatively stronger fundamentals and the lack of dependence on foreign demand are seen as key advantages as India has managed to mitigate the severe recession that has hit most other Asian countries.
Delhi: Delhi Government has finalized the draft of a new legislation on property aimed for checking fraudulent property transaction and will be introduced soon in Delhi Assembly. Delhi Chief Secretary Rakesh Mehta said the draft of the Delhi Urban Property Registration and Titling Act 2009 is ready and will be introduced in Delhi Assembly soon.The new legislation will provide a legal framework for granting property titles to all owners.
Mumbai: Revenue department has approved a proposal to levy a flat one per cent charge on property registrations with immediate effect.The decision on the one per cent property registration fee was taken by then Revenue Minister Patangrao Kadam early this year but was stayed ahead of elections. The stay was lifted by Revenue Minister Narayan Rane.
Bangalore: BBMP has sent nearly 2 lakh notices over the past 10 days. May 30, 2009, was the last date to pay the second half installment without penalty for 2008-09. Technically, the BBMP has powers to issue notices from September. However, the process was delayed till the compilation was complete.
Chennai: Associations with not-so-tech-savvy members are taking help to design the online platform. Bangalore-based start-up www.CommonFloor.com claims to have its presence in 22 cities. In Chennai, the company has designed the online apartment management tool for around 1,500 communities, where services like maintenance fee tracker, issue tracker, SMS reminders for active residents and owners’ association members come installed. Online communities help address issues effectively, particularly when members have no time to attend association meetings.
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