The Jaipur Development Authority (JDA) has decided to seal illegally constructed buildings in the city. The civic body is identifying structures that have been constructed in violation of the building bylaws. It has begun issuing notices to owners of such buildings.

Urban Development Minister Kamal Nath has started consultations on revamping the work structure of DDA. Be it the development of Low Income Group (LIG) projects or shopping malls, hospitals & schools, the private sector could be roped in. Another option is to involve the private sector to develop projects using DDA's land bank.

Taking serious note of the recent controversies surrounding the realty sector in Delhi, the state government is mulling over passing a regulatory bill. It is aimed at building consumer confidence besides raising the accountability bar for builders.

Designed to provide direct assistance to the poor, the Greater Noida authority has launched a new built-up housing scheme for the EWS (economically weaker section). 700 four-storeyed built-up houses in Sector Zu-3 will be allotted to people with annual income up to Rs. 1 lakh through a lucky draw.

Most loan agreements give the lender the right to revise interest rates, in case of change in market conditions. In case of floating rate loans, the bank already has a leverage to vary the interest rates. This increase can be done unilaterally, at the option of the bank. Read more.

The ET Realty Convention 2010 was organized on December 15 at The Oberoi Hotel in New Delhi with a theme of 'Mapping India's Urban Future'. The programme was graced by the auspicious presence of several real estate experts and leading giants. They discussed about how India's towns should be planned along the fast lanes of growth.

Waking up to the colossal loss of over Rs. 2,000 crore on account of property tax evasion in Uttar Pradesh, the government has decided to set up an independent property tax board for corrective measures. The objectives of the board will be to improve existing property tax collection system and set standard for this purpose by using geographical information system (GIS) technique.

The civic administration in Pune has proposed to withdraw the 40% concession it extends to owner-occupied residential property. This way, the property tax in the city is likely to increase immediately. In another proposal, a hike for essential commodities, including food grains and fuel, has also been suggested.

The Reserve Bank of India (RBI) has tweaked some of the rules that govern home loans. The RBI has made it compulsory to pay margin money of at least 20% of the value of the property for all those applying for a home loan. Earlier, this margin money varied between 10% and 15 %.

The annual year end report by global real estate consultants, Cushman & Wakefield indicates total commercial space absorption of 32.65 million sq. ft. in the major Indian cities alone, which is a 23 percent increase from the last year's absorption of 27 million sq. ft.

Realtors and builders in Hyderabad are hopeful that the political change in the city would provide the real estate sector a much needed boost. Kiran Kumar Reddy's succession as Hyderabad's new CM is also cited as a strong reason. This will surely enhance investors' confidence in the upcoming projects

Property deals, where the payment is made in cash, may be detrimental to the buyers. The recent trend suggests that cash deals are transacted at higher rates than the prevailing market price. "The need of the buyer becomes the key factor in deciding the price of the property", experts said.

The buzzword in these days of energy consciousness is ?green?. , and the fact is that all of us can do something towards the cause in our own little individual ways. Right from the designing of your home to the furniture and almost everything - we can use eco-friendly, renewable and healthy items to make it greener. Read more to know the views of creative professionals.

With real estate and financial services stocks being battered on Dalal Street, several companies have been forced to review their capital-raising plans. At least one public sector bank has put its plans on hold till sentiment improves. But the worst hit would be real estate players, several of whom had lined up initial public offers. benefits. Apart from energy savings and water savings, green homes ratings can also enhance marketability for the project

Today, sustainable developments are slowly replacing traditional construction and building practices to minimize negative impacts on the environment as much as possible. Green homes can have tremendous benefits. Apart from energy savings and water savings, green homes ratings can also enhance marketability for the project

From Tata Housing to Godrej Properties, Oberoi Group, Hero Honda Group (Arrow Infratech), Essel (Suncity), Jaypee Greens & Paras Buildtech - nobody wants to be left behind in grabbing a share of the attractive real estate pie. They all agree that the sector is disorganized and they seem ready to unleash the ?huge opportunity? that the realty sector can offer.

Pre-payment charges levied on pre-closure of housing loans are on their way out. In a circular, issued by the National Housing Bank (NHB), all registered Housing Finance Companies (HFC?s) have been advised to discontinue levying of pre payment charges / penalties on pre-closure of housing loans.