By Abhay Shah, Realty Quarter A number of housing societies whose funds are held in the PMC bank are confronted with a payment crisis along with the individual small depositors. Several household companies with funds held at the PMC Bank are facing a payment crisis, as well as individual small depositors. Management committees are distressed […]
Housing Societies funds got blocked due to the PMC bank crisis.more
By Abhay Shah, Realty Quarter According to the sources, the Ministry for Housing and Urban Affairs plans to set up a specific unit to monitor the execution of the Pradhan Mantri Awas Yojana (Urban) under the Housing for All flagships by 2022. The Program Management Department (PMU) will provide targeted support for PMAY (U), according […]
Government seeks to build a dedicated unit for monitoring Pradhan Mantri Awas Yojana.more
By Abhay Shah, Realty Quarter The Noida Authority is ready to issue an occupancy certificate and completion certificate online. On 25 September the applications webpage will be inaugurated and certificates will be issued for residential and industrial areas. Access to the software is possible via the website of the Noida Authority and from the Nivesh […]
Noida Authority releases a website to issue OC and CC online.more
By Abhay Shah, Realty Quarter On September 24, a court here that was hearing cases related to the illegal construction of high-rise buildings in the Shahberi village at Greater Noida rejected anticipatory bail pleas by 19 developers. Additional sessions Judge Indrapreet Singh Josh also directed the Greater Noida Industrial Development Authority (GNIDA), district administration and police to […]
Court pulls up GNIDA for the illegal constructions in the Shahberi area, rejects bail plea of 19 developers.more
By Abhay Shah, Realty Quarter The State Housing Department is set to make land title insurance compulsory for MahaRERA registered developers, for whom insurers are already discussing the premium with the regulatory authority. Land Title Insurance is a form of indemnity cover that provides builders and customers with insurance against financial losses resulting from defects in property […]
The state government will declare the land title insurance as compulsory for all MahaRERA registered builders.more
By Abhay Shah, Realty Quarter A Memorandum of understanding (MoU) was signed between the Pune Metropolitan Region Development Authority (PMRDA) and the Swiss Confederation of the 2000Watt Smart City Association (2000WSCA) to create eco-friendly and smart townships in the region on Thursday. PMRDA Commissioner Vikram Kumar said the first carbon-neutral township will open new possibilities for individuals and upgrades […]
PMRDA signed MoU with Swiss Confederation for the development of eco-friendly townships.more
By Abhay Shah, Realty Quarter On September 18, the Bombay High Court ordered the authorities to file a case against Maharashtra Housing and Area Development Authority (MHADA) officials for supposedly colluding with promoters and causing the government exchequer to lose Rs 40,000 crore. A division bench of Justices S C Dharmadhikari and S K Shinde was […]
Around 40,000 crore loss noted, Bombay HC orders to file a case against MHADA.more
By Abhay Shah, Realty Quarter Real estate investment is estimated at approximately $6.5 billion, with the largest share of office investments. The commercial office sector, which experiences strong office demand, facilitates investors, both foreign and Indian, according to a recent RICS-Colliers report. Investors want to bundle up assets and list them as REITs, capitalizing on strong demand. […]
PE real estate investments are estimated to reach $6.5 billion in 2019.more
By Abhay Shah, Realty Quarter It has been more than five months since the announcement of a new property tax bill spanning 500 sq ft or less from the Brihanmumbai Municipal Corporation (BMC) has been done, meanwhile, this has not yet happened by the municipal authority. The press release announcing the delivery of the proposal […]
BMC has not yet dispatched Property bills with ‘Waiver’ which was announced 5 months ago.more
By Abhay Shah, Realty Quarter Under the Urban Land Ceiling (ULC) Act, the state government has ended its ownership of land defined as excess. This will be a significant relief for landowners, plots and tenements that have come on these surplus lands. On 16 September the State Department of Urban Development issued a notice to the collectors and […]
The Government of Maharashtra ends its ownership of ULC surplus lands.more