MUMBAI: In a major decision on Monday, the Bombay High Court upheld the right of residents in cessed buildings to receive 405 square feet of carpet for their rehab apartment. 59 people who live in Mohamed Tajbhai chawl in Worli disputed the decision of Oricon Properties Pvt Ltd, the developer, to give them a 351 […]
Bombay HC: Tenants living in abandoned buildings are required to occupy 405 sq ft rehab units.more
NASHIK: With a combined debt of over Rs470 crore, the Nashik Municipal Corporation’s (NMC) property tax department has given letters to 2.4 lakh defaulters. The NMC has instructed the defaulters to pay their taxes within 15 days; if they don’t, the civic organization will begin the warrant-issuing process. For the current fiscal year (2023–24), the […]
Notices are sent to 2.4 lakh property tax defaulters by the Nashik civic authority.more
MUMBAI: MahaRera will revoke the registration of up to 291 real estate projects that have been put on hold if the builders do not submit the projects’ quarterly progress reports by November 10. Of these projects, 46 are in Nashik, 63 are in Pune, and 104 are in MMR. Around 363 projects whose Forms 1, […]
If builders don’t update the QPR within a month, MahaRERA will cancel 291 projects.more
Andheri West, a bustling suburb in Mumbai, has emerged as a hotspot for real estate investment in recent years. With its strategic location, excellent connectivity, and the plethora of amenities, Andheri West presents a compelling growth story for both homebuyers and investors. Andheri’s prime location within Mumbai is one of its most significant assets. Situated […]
The Growth Story of Andheri: An Unmissable Real Estate Investment.more
MUMBAI: To assist its compliance cell in gathering first-hand information regarding real estate projects that are lapsed, financially precarious, or those that have not been submitting quarterly reports or complying with regulatory compliances, MahaRera has appointed a real estate intelligence agency. MahaRera will be given a separate method by the agency to verify the “real-time […]
MahaRERA hires an intelligence service to obtain current project information.more
MUMBAI: The Mumbai branch of the Income Tax Appellate Tribunal (ITAT) ruled in favor of a non-resident taxpayer who had bought an apartment in a posh area of the city, saying that she could not be taxed on the difference of Rs. 55.9 lacks between the agreement value of the apartment and the stamp duty […]
Stamp duty difference and flat agreement price cannot be taxed: ITATmore
VIJAYAWADA: In a recent ruling, the high court reprimanded Canara Bank employees for forfeiting money without obeying the rules when it came to property sales consideration. The high court stated that banks and financial institutions should operate fairly and strictly in accordance with the law regulations when trying to recover their money, noting that they […]
Banks shouldn’t behave like real estate agents, claims HCmore
In order to help new financiers revive struggling housing developments that have left millions of homebuyers throughout the nation in the dark, several high-street banks will waive their first claims to assets and cash flow. Several of the bank CEOs and other industry leaders who spoke about the issue a week ago were willing to […]
Banks might relinquish the right to restart housing projects.more
Despite multiple difficulties, including numerous unhappy homebuyers, the insolvency and bankruptcy proceedings of real estate enterprises have seen consistent progress in terms of remedies. Experts predicted that the performance would increase if the government changed the code to allow for resolution based on the type of projects being undertaken rather than imposing a single, strict […]
62% of instances involving real estate insolvency have a successful conclusion.more
NOIDA: The marketing offices and remaining inventory of three projects with outstanding debts totaling Rs 1,000 crore were sealed on Thursday by the Noida Authority. The action was taken against two Gardenia Group projects in sectors 46 and 75 for failing to pay debts totaling Rs. 707 crores, as well as a Logix project in […]
Offices and unsold apartments in three buildings in Noida are sealed due to debts of nearly Rs 1,000 crore.more
