A bumper crop of concrete
The green fields of Punjab have been ‘grabbed’ by the govt, which has cleared over 50 mega housing projects in the state, says Maneesh Chhibber

These green fields may soon be a thing of past as the Punjab Government has acquired huge tracts of agricultural land for housing projects. — Photos by Malkiat Singh

Real estate prime mover of economic growth
The realty sector has emerged as a major employer and is projected to add 2.5 million jobs by 2010, claims Manoj Kumar

Smaller cities to witness robust realty growth: E&Y Several cities with population of 0.5 million to one million will emerge as the most promising market for residential and retail developments in the next three to five years, a report by global research and consultancy firm Ernst and Young said. A view of a housing society coming up in Chandigarh. — Photo by Parvesh Chauhan

Jobs galore in realty sector
The stretch of the National Highway from Panipat to the Delhi border houses over 3,000 property dealers who are employing thousands of youngsters, observes
Arun Sharma
With the entry of a large number of companies in this region of Haryana the land prices have shot up here. Also the realty sector has emerged as a major employer as a large number of the local youths got employment by taking up property dealing as a career.

TAX tips
Compensation on acquisition is taxable
Q. I owned about 10 acre of land near Karnal on the National Highway. The government has expressed desire to acquire the said land. The compensation fixed by the government is not in accordance with the prevailing market rates and I am intending to go to court for the purpose of the enhancement of compensation.

HUDA’s Faridabad scheme draws investors from afar
The real estate market in this industrial township has been going strong. The auspicious period of Navratras has given another fillip to people interested in buying land. The number of realty investors has grown sharply. A huge response to the residential plots offered by the Haryana Urban Development Authority (HUDA), for which the last date of application has been extended to September 30, has proven this fact.

A slice of Venice in Bangalore
Developers promise a touch of foreign ambience, notes Jangveer Singh
This way to Venice, announce a series of signboards on the Doddaballapur road on the outskirts of the city. The road leads to a long 21-acre plot adjacent to a row of one-room tenements and small shops, typical of any rural property transforming itself into an urban sprawl. Hardly a vision of Venice, you feel but Purvankara Developers would have you think otherwise.

Decongest-Shimla plan on anvil In order to facilitate a planned spillover and diffusion of new health, educational and tourism-related projects to the outskirts of the town, the Shimla Capital City Regional Plan is being finalised by the Town and Country Planning Department. A view of the concretised Sanjauli area. — Photo by Anil Dayal

Home decor and furnishing segments hold promise
People go on a shopping binge to make their homes look good, notes Shveta Pathak

India open to more FDI in real estate: Reddy
India is open to more foreign investment in the real estate sector, however, there is a need for transparency in the industry for attracting more FDI, Union Urban Development Minister S Jaipal Reddy has said.

Realty may slump in short-term, says GIC chief
Global real estate major GIC Real Estate has said given the cyclical nature of the real estate industry, there may be a slight downturn in the Indian real estate market in the short-term.