MUMBAI: A vacation bench of the Bombay High Court upheld the BMC’s November 10 notice to tenants of a Malad building to vacate in anticipation of its immediate demolition, ruling that the mere demolition of a building will not affect the petitioners’ alleged tenancy rights and that they will be entitled to be reconstructed as […]
Bombay High Court: Demolition of building won’t affect tenancy rights.more
NEW DELHI: The deputy chief minister of Maharashtra, Devendra Fadnavis, described the current interest rate that MHADA is collecting from developers as extremely high and said that it must be lowered in order to be comparable to that of the BMC. In order to lower the current rate of 18% compound interest to the rate […]
It is concerning that MHADA is charging 18% interest: Maharashtra’s deputy chief ministermore MUMBAI: Raymond Ltd. was ordered by the Maharashtra Real Estate Regulatory Authority (MahaRERA) to withhold only 2% of the entire consideration of an apartment without charging interest. This is because the developer lost the entire sum of approximately Rs 6 lakh that a couple had paid after their reservation was canceled. It referenced a recent […]
Raymond is directed by MahaRERA to deduct 2% of the total amount for the flat upon cancellation.more
Mumbai: After considerable deliberation and in response to requests from multiple developers and architects regarding concerns regarding the structural stability of the sheets, the BMC has decided to reduce the height rule for tin sheets at construction sites from the originally proposed 35 feet to 25 feet. As per the guidelines released by the BMC […]
Mumbai: BMC lowers the building site tin sheet height restriction to 25 feet due to concerns about structural stability.more MUMBAI: Due to the failure to update their quarterly progress reports, MahaRERA has suspended the registration of 248 projects, including three MHADA projects in Pune and Beed that were registered in February of this year. In a similar vein, the failure to update quarterly project reports may result in the suspension of 224 projects that […]
Due to incomplete reports, MahaRERA suspends the registration of 248 projects.more
‘There Is Recession In The Market.’ ‘There’s No Money In The Market.’ ‘Market Kharaab Hai.’ I’m sure these are some of the most depressing expressions we have been hearing, which are part of our day to day life. From a small construction contractor to a building material supplier, from a small-town developer to a multi-city […]
MARKET IS GOOD, IF….more
PUNE: Since the measures’ inception four days ago, the PMC has been actively working to seal the properties of property tax defaulters, taking action against forty assets. Ajit Deshmukh, head of the property tax department, stated, “The defaulters received notices from the civic administration.” We started the sealing procedure when they refused to pay after […]
Pune municipal council seizes 40 items for unpaid property taxes.more
MUMBAI: The urban development department of the state has suggested that all BMC and Mhada rehab homes have a floor area of 405 square feet. Section 15 of the notification reads, “The fungible compensatory area admissible on rehab component will be given without charging a premium and such reusable compensatory area for rehabilitation section shall […]
Mumbai: Developers are now required to provide rehabilitation tenants with more space.more
CHANDIGARH: The municipal corporation (MC) is prepared to begin attachment procedures against the top 2,000 owners of commercial and residential real estate who have not paid their property taxes, following many demand notices. The majority of defaulters have not deposited their dues within the allotted time frame. In accordance with Municipal Act Section 138, the […]
2,000+ property tax defaulters under the scrutiny of the Chandigarh civic government more
CHENNAI: Following the RBI’s cancellation of the Housing Finance Company’s certificate of registration (CoR), the public sector Indian Bank would wind up its subsidiary Ind Bank Housing Ltd (HFC). Reporters in Chennai were informed on Thursday by Indian Bank MD & CEO SL Jain that Ind Bank Housing has not operated for the last 20 […]
After the RBI eliminates the CoR, Indian Bank will close down Ind Bank Housing.more