BEFORE YOU BUY A PLOT

• Check whether the details of approved plan have been displayed at the site.
• Check whether the promoter/power of attorney has the right to transfer the undivided share of the land.

NEWS

New tax code eliminates home loan benefits

The suggestion about removing income tax incentives would hurt middle and lower income groups and the construction sector.

MARKET SCAN

Some of the world’s largest commercial real estate service companies are turning to online auctions to sell property and debt to help kick start the stalled U.S. commercial real estate market. Jones Lang La Salle Inc. said it had partnered with residential real estate online auctions provider Real Estate Disposition LLC (REDC) to offer online auctions. The first property to be offered for auction will be a 100,000 square foot office building sitting on 12 acres in Dayton, Ohio on behalf of Proctor @Gamble Co.

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BULLETS FOR THE WEEK

SURVEY ON AFFORDABLE HOUSING

Affordable property prices in Chennai, according to the research report, for the middle income group earning Rs. 3.5 lakh per annum is about Rs. 14 to 21 lakh.

A WEAK MARKET FOR OFFICE SPACE

Supply has outstripped demand.

MODULAR CARPETS FROM RECYCLED YARN

Now, old nylon fibre too is transformed into attractive carpet tiles through green methods.

RBI CAUTION

The Reserve Bank cautioned the public to verify the credentials before dealing with entities promising various loans, saying there were cases where such entities disappeared after taking the processing fees.

Warning against the unincorporated bodies, the central bank advised people to exercise utmost caution while dealing with such entities and to verify the credential of those entities before dealing with them, the statement said.

TATA CUTS STEEL PRICES BY UP TO Rs. 1500/- A TONNE