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Real Estate News

Real Estate News - 5th to 10th October 2020


By Dan EK

07, March 2026

BBMP to Increase Property Taxes 15 to 30%

Bangalore: BBMP or Bruhat Bengaluru Mahanagara Palike proposes to increase the property taxes of both residential and non-residential segments of Bangalore by 15 to 30 % next year. The scheme is aimed to raise the revenue through tax net. The civic body is said to have over 50,000 property tax defaulters, and the drop in tax collection has taken a toll on BBMP.

Aftermath of Maradu Demolitions: Failure to Settle Claims

Kochi: The demolition of Alfa Serene at Maradu, Kochi had indeed garnered a lot of attention, but the tremors are still felt in the city. Maradu Municipality is yet to compensate for the damage caused to the houses nearby the demolished residential buildings. Most of the houses have reported cracks in the walls and roofs. This has made their lives very difficult during the heavy rains in the state.

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Only 0.6 percent of Houses under PMAY Completed

Delhi: Pradhan Mantri Awas Yojana or PMAY(Gramin) scheme has failed to hit the mark of 61.50 lakh houses in the year. Out of the initial target of 2.47 crore houses by 2022, the authorities are gaping at the prospect of completing the second phase set between March of 2019 to March of 2022, which falls around 1.21 crore. The slow pace is mainly attributed to the fact that only 64% of homes have been sanctioned and the lockdown too have taken a toll.

AP to Rope in New Town Planning Regulations

Amaravati: Andhra Pradesh Government to introduce new rules regarding town planning to boost the realty sector. The state has created an online building permission system where the entire procedure will now take place digitally to curb corruption.

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