Latest Property News on 'Delhi'

Connaught Place has the 8th Highest Rentals in the World

Till the other day Connaught Place epitomized the pride of the country. Today, this central Victorian market of New Delhi has climbed up global indices to become one of the most attractive and expensive markets in the world.

Synonymous with rising economy of the country, the market speaks volumes of India’s performance in the rapidly transforming global economic sphere. Read More »

Ansal Properties to pay Rs 55 Lakh for delay in Flat delivery

The Delhi Consumer Commission has directed real estate major Ansal Properties and Industries Ltd to pay a flat applicant Rs 55 lakh, including Rs 30 lakh advance received by it, for denying him possession of his dream home for over a decade.

“Ansal Properties and Industries Ltd have unjustifiably retained the amount of Rs 30 lakh or so for a long 10 years without having refunded the same to the complainant,” Commission president Justice J D Kapoor said, holding the construction company guilty for “deficiency in service.” Read More »

Investors in Delhi NCR having a tough time

While the bears are ruling the stock market, there is another asset class where the bulls are keeping away. Speculative investors in real estate market are retreating, at least in the Delhi-NCR region.

Some leading real estate developers based in the region say it is becoming increasingly difficult for them to sell flats at launch stage due to lack of interest from speculators. This reflects on the inherent demand structure in the real estate market. Read More »

Goa Realty Player in Delhi to Showcase Projects

Leading builders from Goa have come to Delhi to showcase their real estate projects in a property fair — ‘Goa Property Show Delhi 2008′ — in Tivoli Gardens, Chattarpur Road near Chattarpur Mandir in South Delhi on March 15-16 2008.

The property show will provide home-seekers with the experience of a carnival of properties. Visitors will get an unique opportunity to choose from a large number of world class projects from established builders at one place. Read More »

Govt. to Bring a Regulator for Delhi Property Market

Stepping up the efforts to bring greater transparency in Delhi real estate, the Union Government is considering setting a regulator to address builder-consumer complaints in the Capital. The plans will be reinforced and executed within six months, says Mr. Jaipal Reddy, the Union Development Minister.

The regulator will be a quasi-judicial authority to be headed by a famous personality, informs the minister while addressing the inaugural session of an international real estate conference summit, organized by Federation of Indian Chambers of Commerce and Industry. Read More »

Delhi Govt. to Construct Low Price Houses for EWS

The Delhi Government has drawn out a plan to offer flats costing Rs 1 lakh to economically weaker section (EWS). A total of 50,000 such flats have been planned for Khanjawala, Bawana, Samapur and Neb Sarai, announces Manoj Parida, MD, Delhi State Industrial Development Corporation.

Khanjawala and Bawana will see the construction of 20,000 flats whereas Samapur and Neb Sarai will have 7,656 and 700 flats respectively. Read More »

Actions Of DDA Under The Scanner

Delhi development Authority (DDA) is finding it hard to sell off its hotel plots. Of the total 38 plots, only 13 were able to attract the buyers. Unattractive location of these plots is believed to be the only reason for the developers to keep these plots at bay.

DDA has been accused of misrepresentation of facts for attracting a heavy price for a hotel plot to a private builder. It is a 1,688 sq mt plot located in Vivek Vihar and was auctioned for Rs 14.64 crore on May 14. Such an act of treachery has put the Authority under scanner of the Delhi High Court. Read More »

‘Filing Building Plans’ To Be An Online Provision

The Capital will soon introduce a provision of filing building plans and getting them approved online.

The government is fast stepping up its efforts to bring in a public friendly transparent system to reduce the problems faced by Delhiites in registration of construction plans. Such steps will help to eradicate the malaise, says Delhi Mayor Arti Mehra.

The introduction of online filing of property taxes by the MCD earlier this year turned out to be a huge success. More than 1.5 lakh assesses chose to file their income tax returns online. Read More »

Under Construction Properties in Delhi, NCR Fetch High Price

At present, there are several under construction properties in Delhi, of which, many are likely to be up for possession latest by 2010. Therefore, one has to be highly careful while investing in properties that could land in trouble with the law.

The best way to invest in real estate is to seek professional assistance of a property consultant who can offer you multiple options in a wide geographical area rather than a specific spread, says Rajiv Garg, a resident of Ashok Vihar. Read More »

Dwarka Real Estate Sees Big Time Growth

Dwarka has certainly undergone a paradigm shift in the past couple of years with frentic real estate developments in city. With high rise apartments and planned townships, the city is witnessing a new trend in lifestyle living. Besides apartments, the concept of integrated township is also ushering in Dwarka with many prominent players busy developing exclusive projects here.

The rate of residential property in Dwarka has doubled within two years. No good residential property is available for less than Rs 70 lakh now. Metro has emerged as a matter of major convenience for the residents here. With Metro having started, it has become easier to get to any part of Delhi, says Asha Malhotra, a resident. Read More »