BHOPAL: A 55-year-old police sub-inspector was allegedly shot dead by his elder son over a property dispute in DD Nagar area of Gwalior district of Madhya Pradesh on Tuesday late night. The sub-inspector identified as Hanuman Singh Tomar, who was presently posted in Mandla district, had come home on leave to attend a family wedding. On Tuesday night, while he was talking to his wife and younger son Bhanu after dinner, his elder son Ajay Singh Tomar (30) turned up along with his wife at the fam...
NEW DELHI: The Income Tax Department has issued summonses to RJD chief Lalu Prasad's MP daughter Misa Bharti and her husband in connection with its probe in Rs 1,000 crore alleged benami land deals and a tax evasion case. The development followed the arrest of chartered accountant Rajesh Kumar Agrawal by the Enforcement Directorate on May 22. Agrawal is alleged to have aided in illegal transactions involving Lalu's kin. Officials said the department has asked Bharti, a Rajya Sabha memb...
SHANGHAI'S new home sales market lost its strength for the third consecutive week with sluggish momentum continuing to prevail among home buyers as well as real estate developers. The area of new residential properties sold, excluding government-funded affordable housing, fell 14 percent from the previous week to 128,800 square meters during the seven-day period ended Sunday, Shanghai Centaline Property Consultants Co said in a report released today. Citywide, outlying Songjiang Distric...
FOR years Wuhu, a city (pictured) in the poor central province of Anhui, was on the front line of a national effort to reduce a glut of unsold homes. New property developments stretched into the haze along the Yangzi river on the town’s western edge. But buyers were scarce: although Anhui has a population about the size of Italy’s, many of its people have long preferred to work in richer parts of the country. Officials in Wuhu tried to entice locals to buy homes, offering tax breaks. At one ...
GROWTH in new home sales continued to slow down across the country in the first four months of this year as rein-in measures remained strictly in place. Nationwide, more than 2.79 trillion yuan (US$403.4 billion) of new residential properties, excluding government-funded affordable housing, were sold between January and April, a year-on-year rise of 16.1 percent, the National Bureau of Statistics said in a statement today. The gain slowed from the 20.2 percent increase in the first three mo...
The Walton International Group Inc. and numerous related companies that form part of an organization administering 105,000 acres of land for development projects across North America — including Edmonton — has applied for creditor protection. A Calgary judge granted creditor protection last week giving time for Walton International, the main Canadian operating entity, and about three dozen other investment, development and management companies to restructure under the Companies’ Credit...
PORT BLAIR: Communist Party of India (Marxist) has decided  to  conduct a sustained campaign and agitation at Port Blair Municipal area against the decision of the BJP-controlled Port Blair Municipal Council to increase the  property tax of the buildings and land.   A decision to this effect was taken at a State Organising Committee meeting of the CPI (M) held at Port Blair recently at Port Blair. The State Organising Committee meeting discussed the issues related to th...
A Hindu temple stands in the way of upgrades to a Trump resort in Bali. A player walks on the golf course at Nirwana Bali Resort which will be upgraded to a six-star resort managed by Trump Organization, in Beraban, Bali, Indonesia. Firdia Lisnawati / Associated PressSkift Take: Bali has strict laws regulating the height of buildings, and the proposed tower from the Trump Organization would violate them. — Andrew SheivachmanThousands of people flock daily to the centuries-old, sacred Hindu te...
PATNA: After failing to provide convincing explanations on allegations levelled by the Opposition BJP about amassing huge benami property, RJD chief Lalu Prasad Yadav’s two minister sons are now in for more trouble as a PIL was filed in Patna High Court seeking their disqualification as MLAs. The PIL, filed by Manibhushan Pratap Sengar, a lawyer in the high court, also prayed that a CBI enquiry be ordered into the methods used by the two ministers - deputy chief minister Tejaswi Yadav and...
After having to stomach $31 billion worth of bitter mortgage settlements with government agencies a few years ago, J.P. Morgan Chase & Co swore off a huge swath of the home loan market. Gone were borrowers with anything much less than pristine credit ratings. The cost of managing delinquent accounts and the threat of huge legal penalties were written off as not worth the risk. Better instead to focus on wealthier customers who wanted jumbo-sized loans that are beyond the reach of government ...
JI Wei, a recently married photographer in her 20s, fears her plans to sell her Beijing apartment and upgrade to one costing 6.15 million yuan (US$891,000) will collapse because of new measures aimed at reining in a soaring property market. Beijing, home to about 22 million people, is on the frontline as China takes on speculators and tries to tame home prices. Chinese authorities fear surging prices are building up household debt, heightening banks’ credit risks, and fanning resentmen...
FOREIGN investment in real estate has long been a politically and financially contentious issue in Australia. However, there is bipartisan political support for allowing overseas investment in real estate. But erroneous misconceptions remain as to the actual impact that foreign, and in particular Chinese investment, has had in Australia. Despite substantive evidence to the contrary, such as the findings of an Australian Treasury report late last year, a definitive intercultural relations b...
There has never been a more active time in terms of intellectual property including new ideas, concepts, equipment, technologies and drugs being developed and commercialised. What with the Internet of Things (IOT), big data, increased use of smart phones, Blockchain money transfer, power saving devices and myriad cloud-based products and apps, it is no wonder that the word disruptive pervades nearly every sector of the market. There was even evidence this week that the normally slow-moving manuf...
SALES of pre-owned homes more than doubled in Shanghai last month as the market began to regain some strength after the traditional low season came to an end. Across the city, some 19,400 units of existing homes changed hands in March, compared with 9,400 units sold a month earlier, according to the latest data compiled by Shanghai Homelink Real Estate Agency Co. It represented a plunge of 61.8 percent year over year. "The rebound was mainly caused by some seasonal factors but a major ...
High-rises in Singapore. Photo credit: guiselaine / 123RF. Singapore property portal 99.co has raised US$7.9 million in fresh funding, it announced today. The round, dubbed “series A-plus” by the startup, was co-led by Sequoia India and Facebook co-founder Eduardo Saverin, both existing investors and members of its board. Existing investors East Ventures and 500 Startups also joined in. (Disclosure: East Ventures and Eduardo Saverin are also investors in Tech in Asia. See our ethics page for...
Seattle Mayor Ed Murray and New York Mayor Bill DiBlasio talk progressive politics at an event in Seattle. (GeekWire Photo / Monica Nickelsburg) Earlier this week, Seattle Mayor Ed Murray announced he was pulling the plug on a proposed property tax levy that would raise $275 million to alleviate Seattle’s homelessness problem. He ditched the levy in favor of a King County sales tax increase of 0.1 percent that would raise $68 million per year for homeless services if the ballot measure pas...
THE preparatory committee for Xiongan New Area in north China said yesterday that seven people have been arrested for real estate violations. By Tuesday, the committee had discovered 765 real estate violations, according to a statement. On Saturday, China said it would build Xiongan New Area, a sprawling economic zone about 100 kilometers southwest of Beijing. The new area spans the counties of Xiongxian, Rongcheng and Anxin. “After news of the Xiongan area became public, the behavio...
SENTIMENT among both home buyers and real estate developers remained sluggish in March despite month-over-month recoveries, latest data showed. The area of new residential properties sold, excluding government-subsidized affordable housing, jumped 104.5 percent from February to 742,400 square meters last month, Shanghai Homelink Real Estate Agency Co said in a report. That, however, represented a drop of 66.5 percent from same period a year ago and was also the lowest March figure in five y...
PORT BLAIR: The Port Blair Municipal Council (PBMC) implemented a revised taxation method for properties on Saturday. According to the PBMC, the revised taxation method eliminates scope of discrepancy and is more efficient than the earlier system. However, the land owners in Port Blair city area are reportedly skeptic about the new method of taxation for properties. The new system features information systems that have been designed to enhance tax planning and policy making, said PBMC official...
BHOPAL: Preparations at Holkar Stadium in Indore to host three IPL matches hit a roadblock on Thursday with the Indore Municipal Corporation (IMC) sealing part of the stadium over non-payment of Rs 29 lakh worth property tax dues. The stadium, which houses headquarters of Madhya Pradesh Cricket Association (MPCA), has been selected as the venue for Kings XI Punjab’s three matches on April 8, 10 and 20. The big-ticket glitzy premier cricket league returns to Indore after a gap of six year...