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HP ban halts proxy tourism projects
Realtors pursuing business under the garb of hospitality projects are in a soup,
observes Ambika Sharma
The
recent ban on new projects of value exceeding Rs 25 lakh instituted by the state high court in the Greater Kasauli area, may have baffled realtors but has put an end to the maddening influx of investors in this pristine hill station.
The petitioner, Mr Baljit Malik, who is an active environmentalist,
residing at Kasauli, believes the ban would help contain haphazard
expansion.
Uneven stamp duty bleeding exchequer
Builders want levy restructured, finds out S. Satyanarayan
An
estimated Rs 1,60,000 crore do not get generated into the system due to lack of uniformity in the stamp duty structure on sale of properties in the country. Delhi alone, where an estimated 80 per cent of the properties have not been registered and been bought and sold on Power of Attorney, has failed to bring into the system an estimated Rs 80,000 crore.
Houses in Amritsar, malls at Ludhiana
Ruchika M. Khanna
The
Chadha group, promoted by liquor baron Ponty Chadha, plans major expansion of real estate business across North India. The group plans to invest Rs 3,000 crore over the next two years to start a number of residential and commercial projects in various cities of Punjab, Uttar Pradesh and Uttaranchal.
Manpreet Singh Chadha
Mall culture knocks at Panipat’s door
Arun Sharma
The
historical city of Panipat is set to usher in the mall culture with the opening of one of the five malls with the onset of New Year. Enticed by the revenue to the tune of Rs 6,000 crore generated by the textile industry of the city, including an export of more than Rs 1,800 crore, the mega malls are expecting a huge response.
Indians third largest buyers in Singapore
Indian
foreigners have emerged as the third largest group buying homes in Singapore, after traditional investors from Indonesia and Malaysia, who are generally seen as ‘parking’ their money in the residential property here.
Political gimmick at Nayagaon
Forest Act and no bank loans in the absence of master plan may halt construction, notes
Chitleen K. Sethi
The
constitution of the Nayagaon Nagar Panchayat is the culmination of a long-standing demand of the residents of the area.
The revised notification of the Nayagaon Nagar Panchayat leaves only the area of Kansal village free from the provisions of the various Acts. Further, no master plan has been passed and in its absence banks are not going to give loans for construction.
— Photo by Manoj Mahajan
2006 ROUNDUP
A year of SEZ mania
Sumit Upadhyaya
Even
the best of government policies rarely satisfy the intended beneficiaries, especially the vocal corporate sector. So, it is perhaps surprising that the year 2006 saw a scheme over which all business houses — big and small alike — were falling head over heels.
Green House
Garden on the rooftop
Apartment culture has redefined horticulture,
says Satish Narula
The
living and living styles have changed. Multi-flat culture is in. At the same time, the love for the plants has increased manifolds. Horticulture has shifted from ground to the sky and from horizontal to vertical posing a challenge to horticulturists.
Grass can be grown on the terrace even if the soil is merely 10 inches deep.
Faber bullish
Real
estate is a major asset in India and will be a “big scene” in the next 20 to 30 years, says investment guru Marc Faber.
Buzz on Bourses
TAX tips
Two ways to save capital gains tax
By S.C. Vasudeva
Q. I have a residential plot, which was purchased during 1981 for Rs 2 lakh. Now its market price is 15 lakh. I want to dispose it off in 2007-08. Kindly provide me the details of capital gains with income tax liabilities in this regard. Also suggest how the tax on such sale can be avoided.
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