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adProperty News For September 2008

Lending character to rooms
Source : The Hindu Property Plus Published On : 2008-09-20 City : Chennai

Carpets are now more than just heirlooms, with a variety of innovative designs, themes and patterns to choose from

Carpets are no longer seen merely as heirlooms that have got to be preserved. They are more of an accessory and are setting trends in interior d‚cor.

Companies manufacturing rugs in the country are experimenting with patterns, themes and materials to suit the growing demands of modern houses and apartments. ...

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Mumbai to build one lakh rental homes
Source : The Hindu Property Plus Published On : 2008-09-20 City : Chennai

The Mumbai Metropolitan Region Development Authority (MMRDA) has undertaken an ambitious project to build about five lakh inexpensive rental homes within the next five years and one lakh such homes would be ready by December, Chief Minister Vilasrao Deshmukh said.

MMRDA would get Rs 750 crore as rental after the project is completed, Deshmukh said addressing a meeting at Mantralaya.

The scheme is targeted at low income groups in an effort to arrest proliferation of shanties in Mumbai. Houses of at least 160 sq feet size would be built under the scheme. Mr. Deshmukh said six locations in Mumbai had been identified for dumping waste. The meeting also dwelt on issues like the trans-harbour link and monorail, official sources said. ...

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New law to regulate property dealers, agents
Source : The Hindu Property Plus Published On : 2008-09-06 City : Chennai

In the first-of-its-kind law in the country, the Haryana Assembly passed a bill aimed to regulate the functioning of property dealers/agents “so that the people availing their services are not harassed.”

The Haryana Regulation of Property Dealers and Consultants Bill, 2008, presented by Revenue Minister, Savitri Jindal, was passed with some minor amendments on suggestions given by the legislators.

The law aims to put in place a “proper system and procedure for compulsory registration of property dealers/ agents”. ...

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Second master plan for chennai
Source : The Hindu Property Plus Published On : 2008-09-06 City : Chennai
Plan Features


• Population estimate of Chennai Metropolitan Area by 2026 is 126 lakh

• Housing needs estimated is 12.37 lakh units. Most of the housing needed is for the lower income...

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What an nri has to do in executing a poa
Source : The Hindu Property Plus Published On : 2008-09-06 City : Chennai

Here is an FAQ clearing lingering doubts on executing a Power of Attorney

You or your close relative may be staying abroad. A property is to be purchased by you or the said other person. Most people are aware that in such circumstances , a Power of Attorney needs to be executed. However, many doubts arise on this matter. In fact, this is one of the most discussed topics. Hence, I am sharing the relevant issues in the form of an FAQ for simple and easy understanding.

What is a Power of Attorney?

Simply stated, a Power of Attorney is an authorisation. It gives power or authority to a person, to act for another. The scope of power or authority is as contained in the deed....

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