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Floor Rates for NCR Realty may Rise 30%	Real Estate India
Get ready to shell out more stamp duty while buying real estate in the National Capital Region (NCR). The NCR board is likely to hike the minimum floor area rates (circle rates) for property transactions in and around the Capital by 20-30%. The new minimum rates are expected to make it easier for [...]
Dubai’s Deyaar drops Project with India’s Ansal	Real Estate India
Deyaar, a Dubai property developer at the centre of an investigation into alleged embezzlement, said it had agreed to drop plans to develop a real estate project in India. In November, Deyaar, Dubai’s second-largest property developer by market value, said it expected to finalize a $5 billion agreement to build a township near Delhi with [...]
Ansal’s Husing Pot Sheme under MRTPC Sanner	Real Estate India
Ansal Housing & Construction Ltd’s residential plots project in Karnal has come under fair trade practices body MRTPC’s scanner, as advertisements promoting the scheme withhold the true cost of plots while inducing potential buyers to seek loans only from a particular bank. The Monopolies and Restrictive Trade Practices Commission (MRTPC) has directed its investigative unit DGIR [...]
Finolex to Sell Pune SEZ Land for Rs 400 cr	Real Estate India
Finolex Industries, part of the diversified Finolex group, has decided to sell off its special economic zone (SEZ) plot at Chinchwad near Pune. It is close to signing a deal with a US-based developer to sell the land for between Rs 350 crore and Rs 400 crore. For close to a year, the Rs 950 crore [...]
Mahindras to drive into low-cost housing projects	Real Estate India
Mahindra Lifespaces Developers (MLDL), the housing and real estate arm of the $ 7.5 billion (Rs 30,566 crore) Mahindra Group, is planning to enter the business of building low-cost houses for the middle-income group. Low-cost houses have become a fad among young people, as they are available at an affordable cost of Rs 25-30 lakh. [...]
Lack of Clarity may Hit Realty Funds’ take-off	Real Estate India
A week after Sebi announced guidelines for real estate mutual funds, officials at fund houses and real estate developers are awaiting clarity on certain issues before they go ahead with scheme launches. Industry experts point out that taxation, periodic calculation of net asset value (NAV), and absence of any benchmark indices are some of the [...]
Hampshire Hotels to Develop 2 New Projects in Kochi	Real Estate India
Hampshire Hotels and Resorts (HHR), owned by the NRI Sant Singh Chatwal, is developing two properties in Kochi, one of which is in a privately owned island in the heart of the city. Sources told FE that the island property would be developed jointly with its owners, a Kochi based architect firm, which had forayed [...]
Rajarhat Complex in Kolkata to Offer Luxury Condos, Singapore-Style	Real Estate India
Realty major from Singapore is setting up luxury condos in New Town, Kolkata, complete with wi-fi connectivity, an aroma garden, an elevated green podium to camouflage the underground parking lot and a mini cricket field. Elita Garden Vista, a 1,278-unit complex, is being developed on a 25-acre land parcel in Action Area III of the Rajarhat [...]

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