| Right time to buy property: Experts |
| With the country's real estate sector still in a subdued state, sector experts think it is the right time for consumers to go for their dream homes before prices start to shoot up. Property consultant Jones Lang LaSalle says it is still a buyers' market in the seven metropolitan cities as absorption rate is expected to hover around 12% of the total supply. According to the real estate consulting firm, the absorption rate climbed from 11% in the first quarter of fiscal 2011 to 12.5% in the third quarter. |
| Source: Financial Express |
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| Now, you can pay property tax online |
| No need to stand in serpentine queues to pay your property tax. With the Hubli-Dharwad Municipal Corporation (HDMC) launching e-payment system, you can now make tax payment just at the click of a mouse. After the Bruhat Bangaluru Mahanagara Palike (BBMP), the HDMC is the second municipal corporation in the state to launch online property tax system. HDMC commissioner K V Trilokchandra told TOI that people of the twin cities can pay their property tax through their credit cards and debit cards by visiting the websites like www.hdmc.gov.in and www.karnatakaone.gov.in. |
| Source: : Times of India |
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| Bangalore apartment prices soar at Rs 33k/sq ft |
| The IT City's residential real estate price has touched a new peak: Rs 33,000 per sqft. A recent apartment sale at Kingfisher Towers, an ultra highend residential project coming up on Vittal Mallya Road, recorded this rate. It's said to be the highest residential capital value in the city's history. |
| Source: Times of India |
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| Indians biggest first-time buyers of Dubai property in 2011 |
| Indians have topped the list of first-time property buyers in Dubai last year, having bought properties worth 2.1 billion dirhams (Rs 292 crore), Dubai Land Department data has revealed."The Indians topped the list of new investors in Dubai properties and conducted 927 transactions worth 2.1 billion dirhams. This represents 16 per cent of the overall value of transactions carried out by new investors. |
| Source: NDTV Profit |
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| High-rise Market |
| The residential apartment market in Chennai has been the most stable among urban centres in the country in the past four years. Residex, the residential price index brought out by the National Housing Bank, shows that except for a slight correction in 2008 on account of the global economic slowdown, apartment prices in Chennai registered a steady growth, quarter after quarter. Among the 15 cities covered in the survey, Chennai witnessed the maximum growth of 196% between December 2007 - when NHB started recording Residex - and December 2011. |
| Source: Times of India |
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| BMC to get a year to implement new property tax model |
| An ordinance to grant the Brihanmumbai Municipal Corporation (BMC) a year to implement the capital value-based property tax regime was introduced in the state legislative council for approval on Tuesday. The ordinance was approved by the state legislative assembly on Monday evening and is expected to gain a smooth passage in the council as well. Minister of state for urban development Bhaskar Jadhav sought the ordinance's approval in the council on Tuesday itself, but a discussion on it was deferred as some members from the Opposition benches, who wanted to participate in the discussion, were not present. |
| Source: Times of India |
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| Maharashtra Housing Bill tabled |
| The Maharashtra Housing (Regulation and Development) Bill, which was introduced in the Legislative Assembly, aims at protecting the interest of flat buyers and usher in transparency and discipline in transaction of flats by putting a check on malpractices. It also proposes to repeal the Maharashtra Ownership Flats Act and establish Housing regulatory authority and Housing Appellate Tribunal for ensuring effective implementation of the law. |
| Source: Financial Express |
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| About Artha |
Artha as a brand is synonymous with building homes and thereby creating and building wealth for its customers. Artha was conferred the Power Brand status by UK's prestigious Brand Finance Institute. The Brand has quickly changed the face of the real estate market in South India and has become a household name in Bangalore and Chennai markets. It was also recognised at National Real Estate Awards in 2011 as 'The Most Innovative Marketing Concept of the Year' and awarded for 'Brand Excellence in Real Estate Sector' at CMO Asia Awards, Singapore.
Artha provides a range of products ranging from Villas, Apartments, Plots of Land and Holiday Homes across India. For more information log on to www.artha.in or www.arthaproperty.com. |
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| Disclaimer: Information provided in this news letter has been independently obtained from sources believed to be reliable. Artha and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information on this news letter, or for any decision made, action taken by you in reliance upon such information, or for the delay or interruption of such information. |
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