YSR inaugurates high-tech land resurvey project
The Financial Express - India
Andhra Pradesh Chief Minister Y S Rajasekhara Reddy, on Friday, inaugurated the pilot project of land resurvey using aerial photogrammetry and electronic total stations technology to avoid frauds in land registration.
The project, christened Integrated Land Information System (ILIS), is being implemented on a pilot basis in Nizamabad district, which will be replicated to 22 other districts later.
According to the schedule, the National Remote Sensing Agency (NRSA) will process the photo data generated using aerial photography which will be verified at the ground level with the boundaries of the land owners. The field work is expected to be completed by November 2006. "The computerized maps will be ready for the district by August 2007," Dr Reddy said.
The Financial Express
No property price collapse on cards, say economists
Business Day - South Africa
Although the rate of growth of residential property prices is likely to slow down this year, it is unlikely there will be any kind of collapse in property prices.
This is the view of First National Bank's new property economist, John Loos, who said the country now had vastly different economic conditions from those before the last house price crash in 1984.
Loos, formerly an economist with Absa, said in a research report that he was expecting a "soft landing" for residential property prices, with slower nominal growth of between 12% and 15% this year.
Council sued over no-discount rule
New Straits Times - Malaysia
Abdul Razak Hashim filed an originating summons at the High Court today against the Malaysian Bar Council and the Attorney-General for prohibiting such discounts.
He is seeking a declaration that the Legal Profession Act (LPA) does not invest the Bar Council with investigation and policing powers against its members, and in consequence of the Solicitors Remuneration Order 1991.
New Straits Times
The crisis that isn't
Financial Mail - South Africa
Estate agents will have to work harder to keep their jobs next year, as the property market settles down after six years of booming growth.
But forecasts by major agencies of 20 000 estate agents joining the ranks of the unemployed are wishful thinking: there won't be more pickings for the agencies. Despite complaints of a tightening market, deeds office data collected by Standard Bank shows houses selling steadily at about 160 000/year. It is likely to be the same in 2006.