CHENNAI.....Good investment opportunities in all the segment of the city. Commercial rentals is on fast trek. Residential segment also having very good demand from rural areas. Outskirts of the city is now more costly then CBD residential areas.   AHMEDABAD..... ..... Huge NRI funds were recently invested in residential segment of the city. Commercial too is feeling the heat. Residential rates are marginally up by 20% since last quarter. The trend is likely to continue.   BANGALORE...... ...IT and ITES are again in the buying spree. Residential complexes are getting good demand. NRIs investments are up again. Service apartment concept is catching up in the city. Commercial lease rentals are rising.   PUNE.... ... Pune is poised as IT centre by the developers. In fact many leading IT brands are in the city. It has enhanced the residential rates. Outskirts like Viman Nagar, Pimpari and Chinchwad also now having great demand. Good time ahead.   DELHI .... ...The market is slow for residential units. Noida and Gurgaon also have touched historic level. New zones are in the competition. Faridabad and Merut along with Rohtak are busy catering for demand in Delhi and NCR    MUMBAI.. ..... ..Realty Fund and investors of large real estate holdings are still maintaining the price level. Developing zones are feeling heat. Small pocket developers are also panic in the market. Residential prices stagnated as of now.

Maharashtra Conveyance Bill Passed

Government of Maharashtra have passed, much awaited Bill on Conveyance on 16 April 2007. The bill now compels the builders and developers to give conveyance within 4 months of registering the society. If there are many buildings ina complex, than builder has to sub division of the society plot and give them the Conveyance. Flat purchasers who have brought flats or properties after 1994 will have to pay just Rs.100/- to get the conveyance. Since from 1994, documents were made compulsory to be registered. Purchasers brought before 1994 and not paid the stamp duty will have to face the heat and will have to pay according to today's value of the property. If few members have not paid the stamp duty, then the penalty will be levied only on them and not entire society members.

A Legal obligations supercedes the contractual obligations hence if builder do not give conveyance then there are provisions for penalty and prosecutions.   If a joint venture is made with the land lord and conveyance is not given then builder and landlord are jointly and severely liable under the act.