MUMBAI: The Bombay High Court ruled that the legal mechanism for regularisation “cannot be a weapon to be deployed by the petitioner in every case of rank unlawful building.” The HC turned down a hotelier’s request for an injunction to stop a civic organization from tearing down the illegal buildings and allow time to file […]
Regularization laws should not be used as a tool for illegitimate building.more
PUNE: 25 projects throughout the state that had been marketed without registration are now the subject of another suo motu action by the Maharashtra Real Estate Regulatory Authority (MahaRERA). The developers have received notices, according to officials’ statements on Thursday. In this respect, Pune has the second-highest number of breaches. MahaRERA also sent identical letters […]
For promoting unregistered developments, MahaRERA in Pune has targeted eight more.more
PUNE: Members of the State Housing Federation have developed a mobile application with the assistance of the department of cooperation to instruct housing societies on how to execute a conveyance deed or considered conveyance. The conveyance deed, also known as a presumed conveyance, refers to the builder transferring land in the name of the housing […]
There is now a Maharashtra conveyance deed process app.more
MUMBAI: We expect that none of the highrise developments in the city should render people susceptible and prone to such mishaps, in which innocent people might get maimed or lose their life, stated HC in directing BMC to develop standards for the use of cranes in highrise structures. In a plea, Lokhandwala Residency Tower Cooperative […]
Mumbai: The HC orders the BMC to create regulations for the use of cranes when building highrises.more
KALYAN: The two architects who prepared and certified the plan layouts of the majority of the buildings constructed illegally are wanted by the Enforcement Directorate (ED), which is looking into the MahaRERA scam involving 65 developers in Kalyan-Dombivli. However, the ED discovered that both architects provided false information about their firms and are therefore untraceable. […]
MahaRERA Scam: Two untraceable architects who created building plan layouts.more
NEW DELHI: According to rating agency ICRA, housing sales increased 11% in volume across seven cities in the third quarter of this fiscal year due to stronger demand. “The reported sales in Q3 FY2023 in the top seven cities in India were 149 million square feet (msf), the highest quarterly sales recorded in over ten […]
In Q3 FY23, housing sales increased 11% in volume across seven cities, according to ICRA.more
Mumbai: Thursday, Indiabulls Housing Finance announced a Rs 900-crore debt sale via a public issue of secured, redeemable, non-convertible debentures. The issue is only Rs 100 crore in size, with a greenshoe option for an additional Rs 800 crore. The company said in a statement that the public offering will begin on Friday and end […]
The Rs 900-crore NCD issue by Indiabulls Housing begins on Friday.more
The Delhi High Court has set aside a provisional attachment of Piramal Realty’s properties worth Rs.410 crore by the Enforcement Directorate. The high court ruled in an order issued a week ago that the ED’s provisional attachment of properties “cannot continue” because the realty company “was not arrayed as an accused and was merely a […]
High Court sets aside attachment of Piramal Realty’s properties worth Rs.410 crore.more MUMBAI: Even if a consumer commission offers flat-buyers relief by ordering a builder to reimburse money with interest after he fails to hand over possession, the builder can still be ordered to repay double the amount in a separate cheque-bouncing action before a criminal court. A magistrate’s court recently ordered three directors of a building […]
The builder may have to pay twice for a bounced cheque: The Mumbai High Courtmore
MUMBAI: State Bank of India, the largest lender in the country, on Wednesday slightly raised the short-term lending rates spanning overnight to three-year maturities by 10 basis points (bps), effective immediately. Despite the fact that banks have nearly fully passed through the 250 basis point interest rate increases made by the Reserve Bank since last […]
SBI increases MCLR-based lending rates by 10 bps to 7.95–8.70%more