Low Budget Affordable Apartments/flats for Rent in Prince Anwar Shah Rd Kolkata

The Kolkata Municipal Corporation has identified 1,500 structures that are unsafe. In the face of protests from residents who have no alternative arrangement where they can stay, civic authorities have sought express notice from the municipal corporation and have planned to raze such structures before the monsoons this year.

Real Estate sector in Kolkata has been dynamic over the past decade and has been climbing up on the growth scale. Kolkata has undergone a complete transformation in both commercial and residential real estate sector in the last few years.

Kolkata Real Estate market is going through a challenging phase with multiple macro economic headwinds like poor liquidity for developers, increased cost of construction, high land prices, delayed projects, high interest rates. With developers not able to deliver projects within the stipulated time period, seekers now are veering towards a more cautious approach when it comes to making a property purchase.

Through an order in 2011, the Supreme Court held that transferring property title through a general power of attorney was not valid. The top court directed municipal bodies not to register/mutate properties based on these documents. Following the order, states banned the registration of properties sold through GPA. The SC, however, said that genuine transactions carried out through GPA would be valid. In light of this, should you be entering property transactions that involve sale through power of attorney? Let us find out.

National Building Construction Company (NBCC) is now planning to buy insolvency-hit Jaypee Infratech, a move that would help the public company to acquire land parcels in tony localities, Taj Expressway and Japyee Hospitals. NBCC will be competing with other construction majors, including L&T, Suraksha Asset Restructuring Company, Kotak group and ICUBE, which have shown interest in buying Jaypee Infratech, the sister concern of Jaiprakash Associates Limited (JAL). This is the second time process is on to acquire the insolvency-hit realtor.