By Abhay Shah, Realty Quarter On Sunday, over 200 residents of Azad Nagar chawls in Wadala protested against East and West Developers, part of the RNA Group, demanding that either they be paid a 22-months’ rent for transit accommodation in accordance with the March 2019 High Court Order or that the BMC should terminate the development agreement […]
Azad Nagar, Wadala chawl residents protest against RNA developers.more
By Abhay Shah, Realty Quarter A US-based private equity real estate fund and a family office are among bidders who are in advanced talks to buy a commercial building from Lodha Developers at their New Cuffe Parade project in the Wadala locality of central Mumbai, said two persons aware of the development. It is expected that […]
US-based PEs is in talks to buy commercial property from Lodha Developers.more
By Abhay Shah, Realty Quarter The decision of the Maharashtra government to sell land intended for affordable housing by taking a premium did not go down well with customers. The government had issued a resolution on August 1 saying that under section 20(1) of the Urban Ceiling Act (ULCA), 1976, a builder can be granted […]
Activists oppose the Maharashtra government’s decision to sell land meant for affordable housing.more
By Abhay Shah, Realty Quarter On August 29, 2019, the Brihanmumbai Municipal Corporation’s Tree Authority (BMC) gave its approval to chop more than 2,700 trees for a metro car-shed in Mumbai’s leafy Aarey Colony region. At the meeting of the Authority, chaired by municipal commissioner Praveen Pardeshi, the proposal was cleared, although members of the Shiv […]
BMC Tree Authority approves chopping of 2,700 trees for metro construction in Aarey Colony.more
By Abhay Shah, Realty Quarter In the near future, all flat owners in the state will receive additional estate cards with details such as carpet area, amenity space and information on bank loans, along with their 7/12 extracts. In a bid to verify fraudulent operations, the Maharashtra cabinet on August 28 approved the “vertical estate […]
Flat owners will soon receive supplementary property cards.more
By Abhay Shah, Realty Quarter Overseas investment regulations in construction were eased by the government to bring money to the fund-starved industry and serve its twin goals of creating faster jobs and homes for all. A comprehensive proposition by the Department of Industrial Policy & Promotion (DIPP) was endorsed by the Union Cabinet on Wednesday, […]
Government refines the laws on Foreign Direct Investment for the real estate industry.more
By Abhay Shah, Realty Quarter In an effort to increase slowing economic growth in India, the finance minister lately announced a slew of projects. It is not just the real estate industry that is experiencing a slowdown in growth, but the entire economy. This has been ascribed to a number of factors, including global trade […]
Is the economic stimulus package of the Finance Minister going to revive the real estate industry?more
By Abhay Shah, Realty Quarter Although the number of homes sanctioned is approximately 81 lakh under PMAY-U and approximately 1 crore under PMAY-G respectively, according to a new study, the actual completions, especially under PMAY-U, were moving at a slow pace, at only 32% of the homes sanctioned. However, PMAY-G’s progress has been considerably improved, with […]
ICRA Reports: The actual completion of houses under PMAY-G is greater compared to PMAY-U.more
By Abhay Shah, Realty Quarter In one of the worst redevelopment cases, 10 families in a chawl in Malad East are still waiting to take possession of their tenements 27 years after the chawl is vacated for redevelopment. The families have now brought their petition to the City Civil Court in Dindoshi for the violation of the consent terms and conditions signed in July 2018 against the developer Damodar S Mudaliar of Web India Construction. They also lodged a complaint with the Economic Offences Wing, which asked the […]
Malad East Chawl redevelopment project stuck from past 27 years.more
By Abhay Shah, Realty Quarter In six states, where 517 local authorities have created it online, the method of seeking permission for construction in prohibited and regulated areas around the Archeological Survey of India protected landmarks will now be simpler. On 27 August, Prahlad Patel, Minister of State for Culture and Tourism, introduced an integrated […]
The Minister of State for Culture and Tourism launched the integrated NOC online application processing system.more