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adProperty News For January 2008

Income tax on house property
Source : The Hindu Property Plus Published On : 2008-01-19 City : Chennai

It is the annual value of property, the profits of which are chargeable to income tax, writes C.H. GOPINATHA RAO

Income from house property is a separate title of income chargeable to income tax under the head Income from House Property.

The annual value of property, other than such portions of such property as occupied for the purposes of any business or profession carried on by him, the profits of which are chargeable to income tax....

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Industries and the use of water
Source : The Hindu Property Plus Published On : 2008-01-05 City : Chennai

Industries are looking at reducing demand to the optimum by bringing in innovative saving and harvesting practices.

ECOLOGICAL STEWARDSHIP: Sustainable management of water by industries is not only crucial to the industry itself but to the neighbourhood where the industry is located. A view of the Grundfos Pumps facility at Chennai which has been awarded ‘gold rating’ by the U.S. Green Building Council.

As the Indian economy grows at a rapid 9 percent, the use of water by industries will also grow at percent. While agricultural use of water will continue to remain the largest consumer, it is expected that the demand from industries will show a rapid increase. Industries demand water at a point and also discharge water at a point and therefore sustainable management of water by industries is not only crucial to the industry itself but to the neighborhood where the industry is located....

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Land grabbers usurp community hall site
Source : The Hindu Property Plus Published On : 2008-01-19 City : Chennai

Inordinate delay in ‘execution’ of the proposal is the major factor

Kancheepuram: Land grabbers were said to have laid their hands on the government land abutting the GST Road in Nandivarman-Guduvancheri town panchayat, owing to the inordinate delay in ‘execution’ of the community hall proposal mooted long ago.

Enquiries reveal that more than two acres of land was earmarked for construction of the hall in early 1960s when the site remained in the erstwhile Nandivaram panchayat. Another proposal on a public health centre was also mooted. While the health centre project was completed, the hall project did not materialize....

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Land related crime moving towards the suburbs
Source : The Hindu Property Plus Published On : 2008-01-05 City : Chennai

Thorough scrutiny of the documents and title deeds would save the purchaser from the designs of law offenders, writes L. SRIKRISHNA

A glance at the number of complaints received by the police during 2007 gives an impression that the land related crime has now moved more towards the suburbs. Next to Chennai, Kancheepuram district is the main target for land grabbers, police say. The Deputy Inspector General of Police (Kancheepuram range) Shakeel Akther said that they received a little over 200 petitions from the public in connection with land transaction cases in 2007.

Speaking to The Hindu Property Plus, he said that though there are several factors for land grabbing and unauthorised encroachments, the main reason is attributed to the manifold increase of the real estate value in the suburbs. In October 2007, police arrested a man on charges of forgery in connection with a land transaction case involving government property. Investigations in the case revealed that the accused had clandestinely registered about 11.50 acres of vacant site belonging to the government in his name by fabricating bogus sale agreements and general power of attorney by mentioning the survey number and other details. He had planned to sell it to several private buyers for a hefty price in a phased manner....

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Laying the ground for land policy reform
Source : The Hindu Property Plus Published On : 2008-01-26 City : Chennai
Major land policy changes are being planned in kerela.

A look Kerala is a embarking on a process of major reform that will change the way land is bought and sold in the state. And also in the way it is put to various uses. But the laws will take time to be put in place.

Computerisation of government departments is one step. As for now, computerization included, resurvey of land, fair value fixation, having a land information system, digitizing of land records and other works have only been partially completed at some places or yet to begin in most others.

Minister for Revenue K.P.Rajendran has come up with a paper on the draft policy, which will be discussed with experts and officials and then be presented to the Assembly in the final format. Discussions will be held in Thiruvanathapuram, Alappuzha and Kannur regarding the draft on land policy reform....

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