Manju Groups - Chennai Real Estate Blog

Manju Groups

2012-11-19T12:01:00.001+05:30

We at Manju Groups. are committed to excellence in all that we do. We believe that on-time delivery of the highest quality projects for the best value is only part of the equation. We give our best in all the real estates in Chennai related projects. Dealing in Chennai property and working on Chennai plots itself gives us a kick to deliver our best.

The experience of engaging in the promotion of Residential, Commercial and Industrial properties,across the emerging markets is our real gain. Chennai commercial properties are the best thing that happened to us to create a niche in the market.We create positive, memorable experiences and lasting relationships because our actions are guided by our core values..

Contact Us:
Manju Groups
#39, Radhakrishnan Salai,
5th Street, Mylapore,
Chennai – 600 004,
Mobile : 9600033336
Phone : 4290 6666.

Manju Groups

2012-03-03T16:15:00.001+05:30

Aalayam Villas

Manju Groups. An attempt that started with a single goal of offering nothing but the best has now become a leading brand in the South.When it comes to residential plots for sale in Chennai or any other apartments Sale, residential Flat or for that matter other property sale in Chennai.

The project offers 3, 4 and 5 BHK (1500 -2500sqft) Villas that are well-planned and designed in an exquisite manner, to cater to the varied requirements of the clients. They are spacious and feature hi-end specifications, which ensure a comfortable lifestyle. Attention is paid to even the minutest detail, assuring hi-quality spaces that are etched to perfection.

Contact Us:
Manju Groups
#39, Radhakrishnan Salai,
5th Street, Mylapore,
Chennai – 600 004,
Mobile : 9600033336
Phone : 4290 6666.

Manju Groups - Aalayam Villas in Chennai

2012-02-27T11:30:00.000+05:30

Aalayam Villas

Manju Groups. An attempt that started with a single goal of offering nothing but the best has now become a leading brand in the South.When it comes to residential plots for sale in Chennai or any other apartments Sale, residential Flat or for that matter other property sale in Chennai.

Real Estate Developers Chennai - Manju Groups

2012-01-25T18:38:00.001+05:30

All of us are defined by our Designations. We call ourselves Doctors, Engineers, Nurse, Analysts etc all based on the kind of job we do and the role we play in the economy business. The area that caught my fancy is the real estate developers and the real estate promoters, for their job is so interesting the more special ones being in Chennai. Yes! I am talking about the real estate developers in Chennai and about the real estate promoters in Chennai. They need to deal and be involved with the trade of houses and villas. The ones who deal with the Flats sales in Chennai, the very ones who are the main link behind the maximum number of houses sales in Chennai.
As we say, it’s everybody’s dream house in which they invest their life’s savings and search more the most apt house or villa for their family. Our job is much simpler if we just follow the right steps. In order to make the whole experience an easy task, we should first filter through the list of real estate developers in Chennai. This will help us to find the best works done by the best real estate developers.

This will give us the details of their completed and upcoming projects and thus we can easily refine our search and also through the list of real estate promoters in Chennai. Next is to go through the list of real estate promoters in Chennai. This will shows us the right promoters who promote the genuine builders and the authenticated projects that is the houses and villas. Having found the apt real estate promoters almost solve the purpose and take care of further things.

However, it always helps to do a search of all the listed properties. We can advance our search by finding the Flats sales in Chennai in case we want to invest in Flats, 2BHK, 3BHK or whatsoever. People interested in buying Houses or Villas can precede their search by inquiring for Houses sales in Chennai. Thus, keeping in mind these simple tips makes the entire process a much easier and a better experience.

Manju Groups - Real Estate Promoters in Chennai

2012-01-25T13:15:00.001+05:30

Manju Groups

We at Manju Groups. are committed to excellence in all that we do.We believe that on-time delivery of the highest quality projects for the best value is only part of the equation. We give our best in all the real estates in Chennai related projects.Dealing in Chennai property and working on Chennai plots itself gives us a kick to deliver our best.

The experience of engaging in the promotion of Residential, Commercial and Industrial properties, across the emerging markets is our real gain. Chennai commercial properties are the best thing that happened to us to create a niche in the market. We create positive, memorable experiences and lasting relationships because our actions are guided by our core values..

Contact Us:
Manju Groups
#39, Radhakrishnan Salai,
5th Street, Mylapore,
Chennai – 600 004,
Mobile : 9600033336
Phone : 4290 6666.

Manju Groups - Real Estate Developers Chennai

2012-01-24T16:37:00.003+05:30

Manju Groups

As we say, it’s everybody’s dream house in which they invest their life’s savings and search more the most apt house or villa for their family. Our job is much simpler if we just follow the right steps. In order to make the whole experience an easy task, we should first filter through the list of real estate developers in Chennai. This will help us to find the best works done by the best real estate developers. This will give us the details of their completed and upcoming projects and thus we can easily refine our search and also through the list of real estate promoters in Chennai. Next is to go through the list of real estate promoters in Chennai. This will shows us the right promoters who promote the genuine builders and the authenticated projects that is the houses and villas. Having found the apt real estate promoters almost solve the purpose and take care of further things.18th Ave, Kanniyappan Colony, Ashok Nagar, Chennai, Tamil Nadu, India

Contact Us

Chettinad Chambers,
#39, Radhakrishnan Salai,
5th Street, Mylapore,
Chennai – 600 004,
Phone : 4290 6666,9600033336.

Houses Sales In Chennai | Flats For Sales In Chennai - Manju Groups

2012-01-24T16:32:00.001+05:30

Houses, as we say are built once and lived forever. People generally refer call their houses as dream house, dream villa etc, as they tend to save a fortune for their lifetime and then invest in their one big dream. People in Chennai are no behind when it comes to buy a housing property in Chennai. The real estate developers and the real estate promoters here are suppose to keep busy throughout the year.

People in look out of individual Houses Sales In Chennai or villas can contact the builders or the real estate promoters and they get to choose from a varied range of completed and upcoming projects. Manju Groups, a building and Construction firm are one major giant when it comes to real estate developers. They have many wonderfully constructed individual houses for sale, and not just villas but even bungalows that are sure to catch your attraction. They even have categories of houses in the list of their projects. The famous ones being “Nano homes”, “Pink House” etc.

The houses for sale by Manju Groups are mostly located in the heart of the city or in a commercial zone. The houses or villas are generally surrounded by a housing colony and well established society, thus making the task of real estate promoters much easier and inspiring many other builders and constructors to become one such real estate developers those not only cater the needs of a beautiful home but also takes care of a safe and secure locality.

Safety, Locality and comfort zone are few among the many constraints that become important when investing in a housing property. Manju Groups provides all these and strikes the right cord with its consumers. People of Chennai sure do have a lot of choice when comes to Property purchase.

Flats Sale in Chennai | Flats In Chennai | Flats Sales In Chennai | Flats In Chennai For Sale

2012-01-20T14:52:00.004+05:30

Opting for a Flat has now become a new tradition in the real estate market. If the statistics provided by the real estate promoters are to be believed, more and more people in Chennai are booking for ready made flats rather than individual houses.

There are quite a few reasons to justify the above which includes the low cost involved, the security that come along with the ready made flats, the less of tension and above all an already established society.

These factors are just enough to increase Flat sales. The real estate developers seem to have a real business when being approached for Flats in Chennai. Manju Foundation is one among many such real estate developers who are also involved for the sales and promotions and thus can also be called as real estate promoters. Manju Foundation has come up with many projects which involve flats for sale in various parts of Chennai. Interestingly, they have almost all types of flats to cater the needs of all sections of the society.

They have flats ranging from single bedroom, to the 4 bedroom ones. There flats are mostly a part of the society which is again built by them. When it comes to Flats and Apartments for comfort and in best locality, Man ju Foundation is the name to be trusted.

In Chennai, people are more and more opting for Flats and the real estate developers here just seem to offer them their best dream in the best possible price. No wonder the sales of flats in Chennai are going up and so is the demand. There are still many new projects coming up not just on the outskirts but even in some main areas. If you are lucky enough you can even find your dream villa in the hub of the city. It’s all about approaching the correct real estate promoters.

Source Articles:

Manju Foundation - "The Metro" (Guindy - Porur) Chennai + Launching Offer!!

2011-12-08T19:02:00.012+05:30

Manju Groups

A keen interest in understanding the needs of its customers and a commitment to fulfill their dreams has today, made THE METRO a name to reckon with. And now the The Manju Foundations(P)Ltd brings you yet another, one-of-its-kind Luxury Homes – THE METRO, BETWEEN GUINDY AND PORUR. Started with the idea of providing luxury homes to the customers located very closer to Chennai City, THE METRO exhibits a rare combination of all the modern amenities with locational advantages.

The quality, functionality and value that go into each and every Manju Foundation’s project are mirrored in all its constructions. A glimpse at the company’s history of more than a decade is the witness. The architectural nuances; the security; the cross-ventilation. THE METRO has taken care of every single detail.

Contact Us

Chettinad Chambers,
#39, Radhakrishnan Salai,
5th Street, Mylapore,
Chennai – 600 004,
Phone : 4290 6666,9600033336.

Web: http://www.manjugroups.com

MANJU FOUNDATION: FREE HEALTH CAMP

2011-09-11T14:21:00.000+05:30

MANJU FOUNDATION: FREE HEALTH CAMP

"The enjoyment of the highest attainable standard of health is one of the fundamental rights of every human being..." - WHO Constitution

Mental and physical health is the very basis of human personality. Diseases and mishaps must have had their grip over humans ever since they came into existence. Article 21 of the Constitution guarantees protection of life and personal liberty by providing that no person shall be deprived of his life or personal liberty except according to the procedure established by law. Unfortunately health is far away from children, especially the poor. Simply blaming parents, governments and other is not the sign of development; it should be a coordinated effort of like-minded individuals, organizations and corporates.

Mr. K.M.Vidhayasagar, CEO of Manju Foundations(P)Ltd., leading entrepreneur and philanthropist is very keen in rendering services to the weaker sections like children, orphan, destitute, aged, transgender, physically & mentally challenged in and around Chennai.

As a recent effort Mr. Vidhayasagar’s Organization Manju Foundations(P)Ltd. has organized a Free Medical camp in association with NGOs like Lion’s Club, Agarwal eye hospital, ACS Medical College and Hospital, Global Hospitals and Healthcity, Masthan Dental Hospital and other leading health care organizations. The camp was held at K.K.Nirmala Higher Secondary School in Ashok Nagar. During this program Mr. KM.Vidhayasagar has assisted nearly 20 needy children with school fees and Educational Materials.

While people asking Mr. K.M.Vidhyasagar about his services he simply says “My theme for philanthropy is the same approach I used with business: to find a need and fill it." Yes Mr. K.M.Vidhyasagar is a rare personality, who can see demands of the buyers and needs of the under-privileged in a single vision.

Massive Eye Donation by Manju Foundations (P)Ltd

2011-09-11T14:00:00.000+05:30

Massive Eye Donation by Manju Foundations (P)Ltd

The Employees of Manju Foundations(P)Ltd numbering 265 donated their eyes on 16th of August 2011 at Hotel Vijai Park. Mr. KM.Vidhayasagar,CEO Manju Foundations(P)Ltd signed eye donation document in the presence of Justice TN.Vallinayakam, Rtd. High Court Judge and handed over to Dr. Kiran Kumar, GM, Dr.Agarwal Eye Hospital. During the occasion Dr. Raja Husain, Director USAB-Madras University and Dr. Appavu, President Teacher’s Exnora delivered felicitation address. Ms. Sindhuja Sagar handed over Educational Sponsorship for 20Poor College Girls. Colorful cultural program were performed by the employees on National Integration, Environmental Protection and Health Care. Manju Foundations(P)Ltd is the first Company in Chennai where 100% employees donated their eyes.

Manju Groups- Aalayam Under Construction

2011-09-11T12:47:00.001+05:30

Aalayam Villas

Manju Foundations Private Limited, is one of the Chennai’s leading and admirable real estate companies.Launching ‘AALAYAM’ energised villas near Porur. These luxury villas are the outcome of constant research by our experts in Cosmic Energy Management, Ancient Energy Structures and Modern Architecture.

Contact Us

Chettinad Chambers,
#39, Radhakrishnan Salai,
5th Street, Mylapore,
Chennai – 600 004,
Phone : 4290 6666,9600033336.

Email : manjugbiz@gmail.com
Web : http://www.manjugroups.com

Manju Groups Aalayam Villas

2011-06-04T14:26:00.000+05:30

Manju Groups

The Metro- Fulfilling the desires of ametro life

Manju Groups understands the importance of living within the city in close proximity to Banks, ATMs, Hospitals and Commercial Complexes. Location holds great value when it comes to investing in property. Luxury homes located close to city with all the amenities for a comfortable living are offered by this prestigious project from Manju Groups called ‘The Metro’. For city bred people who are looking for world class amenities with advantages related to location, The Metro is the right choice. These luxury apartments in Chennai are located 6kms away from Guindy and around 3.5kms from Porur. Constructed in a gated community, The Metro offers all amenities in the vicinity of IT parks, hospitals, shopping centers and schools for the comfort of all family members residing there.

Manju Groups is known for reliability and trustworthy construction for many years. They have the insight into providing the most modern amenities with well designed and planned architecture that ensures happy and healthy living for many generations. Well planned design of homes ensures proper ventilation and breeze necessary for a healthy living. This project offers 24/7 security, children’s park, a multipurpose hall, hi-tech drainage system, commercial center, indoor games and 24 hours water supply. Manju Groups ensures that all the minute details are well thought out, so that clients can just move into their tranquil and feature rich homes without any hassles. ‘The Metro’ offers spacious interiors with plenty of place to accommodate your specific needs.

Manju Groups

Chettinad Chambers,

#39, Radhakrishnan Salai,

5th street, Mylapore,

Chennai - 600004

Phone - 9600033336

Manju Foundations Fantastic Project: Manju Foundations Fantastic Quality

2011-06-04T12:45:00.000+05:30

Manju Foundations Fantastic Project: Manju Foundations Fantastic Quality: "Manju Foundations (P) Ltd., is committed to excellence in all that we do. We believe that on-time delivery of the highest..."

Manju Foundations (P) Ltd.

2011-05-31T12:06:00.000+05:30

Manju Foundations (P) Ltd.

manju foundations franch villa

2011-05-31T11:54:00.000+05:30

The project "Royal Villa" by Manju Foundations is located at Gerugambakkam (near Porur), Chennai. The rate per SQFT is Rs.2990 (launch price)**.

There are no known Online Communities (Groups/Portals) for Owners of Manju Foundations Royal Villa.

This Map of Manju Foundations Royal Villa shows the approximate location of the project.

Other details :
Manju Foundations (P) Ltd.'s Royal Villa is a Gated Community project offering Premium Independent Villas at Gerugambakkam.

Features / Amenities include :
* Childrens play area
* 24x7 security
* Protected water supply
* Hi-Tech drainage system

The project is to be launched at the site on 14th May 2011.

Images :(Click to view larger image)

Project Webpage : Manju Foundations - Royal Villa details

Related : Buses / Trains connecting Girugambakkam

MANJU FOUNDATIONS - LADIES ONLY

2010-09-22T18:37:00.000+05:30

ROYAL ARCADE - MANJU FOUNDATIONS

2010-09-22T18:22:00.000+05:30

10 Downing Street 2 & 3 BHK Independent Villas at Guidy, Chennai

2010-09-22T18:17:00.001+05:30

I want you to take a look at: Share this document

MANJU FOUNDATIONS blast007 play1.mp4

2010-09-14T10:49:00.000+05:30

MANJU FOUNDATIONS blast007 play1

2010-09-14T10:37:00.000+05:30

MANJU FOUNDATIONS-KUBERAN 01

2010-09-14T10:32:00.000+05:30

Manju Foundations (P) Ltd.’s (REAL ESTATE INDIA)

2010-09-02T10:54:00.000+05:30

Manju Foundations (P) Ltd.’s (REAL ESTATE CHENNAI)

Company is committed to excellence in all that we do. We believe that on-time delivery of the highest quality projects for the best value is only part of the equation. The experience of engaging in the promotion of Residential, Commercial and Industrial properties, across the emerging markets. We create positive, memorable experiences and lasting relationships because our actions are guided by our core values.

Manju Foundations (P) Ltd.’s success over the decades is due to its employees' dedication to excellent work, customer service that exceeds expectations. Open communication and integrity empower Manju Foundations (P) Ltd.’s workforce. Honesty is respected companywide.

Today, we are committed to delivering exceptional project performance to ensure the success of our clients, as well as growing the most capable people in the industry. The high standards we set for ourselves in striving to exceed our clients’ expectations is evident in our ever growing customer base. As we look back with pride on the successful events of Manju Foundations (P) Ltd.’s past, we remain keenly aware that the challenges and accomplishments to come will further define the fundamental character of our Company. We eagerly look forward to building that future as we continue to challenge ourselves to become and remain the very best in the business.

Blogger Buzz: Improvements to Realtime Search

2010-08-27T17:04:00.000+05:30

Blogger Buzz: Improvements to Realtime Search: "The blogosphere is a dynamic environment that changes almost as quickly as the world that we live in. And as access to information becomes ..." manju foundations

ROAD NETWORKS - MANJU FOUNDATIONS

2010-08-26T14:58:00.000+05:30

ROAD NETWORKS

7.6.59 According to a study conducted by the real
estate management company, C.B. Richard Ellis,
the returns on commercial property in India are
among the highest in the world. Mumbai prime
property fetches returns of 13 per cent, New Delhi
12 per cent and Bangalore 11 per cent. In contrast,
returns in London are 5.3 per cent and in Singapore
4.8 per cent. Lack of space is not the reason for
these high returns because India is a huge country
while Singapore is just a tiny city. Various reasons
have been put forward to explain the curious
phenomenon of astronomical real estate values in
a poor country. The real reason, however,is the
distorted market for real estate combined with the
under-supply of roads. Absurd land ceiling and
rental laws combined with high stamp duties have
skewed the real estate market towards a situation
of perennial shortage. Roads add to the supply of
land by connecting villages to towns and this makes
land available to the urban economy. This keeps
land prices down. It also reduces the rural-urban
migration, easing the pressure on cities.
7.6.60 Unfortunately, roads have long been
neglected by our policy makers. Roads are a ‘public
good’ and, therefore, an area where State investment
is required. However, the ‘planned economy’
has failed to invest sufficiently in roads even as it
has been investing in cars and running hotels. This
has put pressure on land in cities, causing urban
land prices to soar.
7.6.61 It is now time to usher in a free market in
real estate development. With roads, tramways and
rail connections to the surrounding areas, a lot of
rural land will be ‘developed’. All these parcels of
land will add to the total supply of real estate and
this will work to keep prices down.

FOREIGN DIRECT INVESTMENT

7.6.62 The real estate market is currently characterised
by small players. None of the local developers
have a truly national presence and large
companies are still not fully involved in real estate
development. None of the current players have the financial strength to invest in large-scale development
projects. The development of new towns
and cities would require huge massive investment
and technical expertise that domestic players alone
cannot provide. One way to overcome this hurdle
is to raise funds through the FDI route. However,
right now, FDI in the real estate sector is allowed
only for the development of integrated townships.
7.6.63 Allowing FDI in the real estate sector will
result in the following advantages:
(i) It will provide the much-needed investment
for the funds-starved sector;
(ii) it will bring in professional players
equipped with expertise in real estate
development;
(iii) the introduction of new technology and
quality real estate assets will have a
demonstration effect on the local
developers;
(iv) it will lower real estate costs in the long
run;
(v) it will generate employment and revenue;
and
(vi) it will improve the quality of related
infrastructure.
7.6.64 The real estate sector needs to be opened
up to FDI as returns in the form of rentals (annual
investment yield) and capital appreciation are
assured. Rentals in Indian cities are amongst the
highest across the world. The average yield from
investments in commercial property has ranged
between 11-13 per cent per annum in India over
the last few years. Across the world, real estate is
a preferred option for foreign investors. It is
estimated that roughly, half the FDI flow into China
is for the housing sector only.
7.6.65 But the stumbling block is the fear that
foreign investors may repatriate all the profits.
These apprehensions are fuelled by the fact that
the Southeast Asian financial crisis was partly the
result of short-term investments in the real estate
sector in these countries leading to flight of capital.To guard against this, a minimum lock-in period
of three years must be fixed on investments
and care should be taken to ensure that no
long-term investment is funded by short-term
capital.
7.6.66 Opening up the real estate sector
will bring in substantial foreign investments
into India which would result in developing
the real estate market and making it
more efficient. This is also likely to give a
big fillip to the construction industry,
which has tremendous spin-offs, especially
in terms of employment generation.
These issues are discussed more fully in
Chapter 7.7.
7.6.67 Legal problems, small individual
land holdings, untraceable records and
unavailability of organised finance are
major entry barriers to FDI in real estate. These
need to be tackled before the sector is
opened up.
MUNICIPAL LAWS, RULES & PROCEDURES
Municipal Laws
7.6.68 Most urban and municipal laws and regulations
in India date back to half a century if not
more. There is a need to thoroughly review and
modernise them in the light of the latest developments
in urban infrastructure, transport, pollution
control etc. A committee of eminent persons from
the concerned fields should be set up to draw up a
model municipal law. Such a law must make
provision for private investment in and supply of all
public utilities and services. It must ensure that the
municipal authority focuses its attention on data
gathering, analysis, planning, organisation and
monitoring. In other words, the government should
play the role of the facilitator more than that of the
provider.
Zoning Rules
7.6.69 In an ever-changing urban scene, the
zoning regulations are in a constant state of flux with no systemic reviews or updation taking place.
There is need to establish a regulatory commission
to continuously review the zone shifts and activity
shifts as demographic patterns change in urban
areas.
7.6.70 The failure of the Master Plan for Delhi is
a case in point. The most important cause of this is
the poor and inadequate implementation of the Plan
during the first 20 years of its existence from 1961
to 1981. Most of the provisions made for various
facilities in the Plan were not realised on the ground.
Space made available for housing, retail, commercial
offices, service industry, small-scale
industry, as well as for educational, social and
cultural institutions was far below the provisions
made in the Master Plan. The implementating
agency, the DDA, notified and acquired all the land
required for the future growth of the city, but failed
to develop it on a scale and at a speed sufficient to
meet actual need. In such circumstances, restrictions
on change of use of land and premium
charged by authorities like DDA/Directorate of
Industries are matters to be investigated.
Approval Procedures
7.6.71 Another serious malaise affecting investment
in the real estate sector and housing development
is the tardy process of planning approvals. A
system of deemed approvals for all planning
permissions by registered architects operating on
the basis of self-regulation much like chartered
accountants do, would enormously speed up the
entire plan approval process. This will ensure that
far larger quantum of housing stock is supplied
every year, at more reasonable prices than is the
case presently.
CONSUMER PROTECTION
7.6.72 Real estate came under the purview of the
Consumer Protection Act (1986) in 1993 after an
amendment to the definition of ‘service’ in Section
2(1) 0 of the Act to include the term ‘housing
construction’. However, there are still several
lacunae relating to consumer protection. 7.6.73 Under the provisions of this Act, housing
is considered a ‘service’ not ‘goods’. If housing is
treated as ‘goods’ then replacement or liquidated
damages can be claimed if it is defective, unlike in
the case of breach of service provision, which
requires only payment of a penalty. Further, pricing
is covered under the Act under the ‘unfair trade
practice’ as applicable to goods. By defining housing
as a `service’, unfair practices related to pricing of
housing are not covered. However, merely defining
housing as ‘goods’ will not solve all problems. The
responsibility of making the right choice under the
Act rests with the consumer and the seller is
protected from giving a warranty of the goods. Thus,
even if housing were to be included as a good, the
very definition of ‘good’ adopted in the Act may need
to be reviewed to give adequate protection to a
purchaser of housing.
PATH AHEAD
7.6.74 There are three critical issues in real estate
development - archaic rules and regulations, lack
of affordable finance on a mass scale and
inadequate land availability.
Legislative Reforms
a. Revise the number of legislations governing
property transactions and merge
them into one comprehensive law.
b. The repeal of the Urban Land (Ceiling &
Regulation) Act by various states which
have not done so is necessary. This is
expected to facilitate the release of 2.2 lakh
hectares of urban land, which remains
frozen.
c. Amend the Rent Control Act so as to
remove the absolute authority of the rent
controller over the disposition of the rented
property. This allows the rent controller to
virtually divest the owners of the natural
right to his property and transfer it to the
tenant. The Rent Control Act must limit
itself to ensuring a level playing field in
terms of rent (adjustment) negotiations and
a reasonable period for vacation of property. Market rates must be allowed to
prevail in the medium term. Instilling
confidence in the owners would lead to
release of vacant houses into the market
within the levels of affordability of the
tenants.
d. Amendment of the Indian Stamp Act, 1899
and the Indian Registration Act to delink
the process of registration from the
payment of stamp duty and also to liberate
the registration process from the requirement
of various no-objection certificates.
e. Rationalise the tax rates and duties pertaining
to the real estate sector. States
should reduce stamp duties from the
present range of 13-26 per cent to the level
of 3-5 per cent. Stamp duty rates must
also be uniform across States. The
perceived loss in stamp duty revenues will
be more than compensated through
increased disclosure of property sales and
the correct value of the property transacted.
Property tax must be linked to the
capital value of the property than on the
rental value of the property. Entertainment
tax rates must be reduced.
f. The principles of law applicable to statements
made in a prospectus should also
apply to the sale of property. This will also
facilitate the institutionalisation of conveyances
and conveyancers can investigate
titles and cross-linkages between
municipal authorities, electricity boards,
taxation departments, land registries and
collectorates can be easily facilitated
through hyperlinks.
g. A formal system for enabling private
participation in the provision of municipal
services will provide access to the skills
required for improving the efficiency of
urban services and make them selfsustaining
in the long run. Pricing municipal
services rationally will ensure enough
funds for the maintenance and expansion
of municipal services. Municipal authorities
maybe allowed to raise funds by
issuing municipal bonds.