MUMBAI: After MahaRERA issued warrants for the amount, which was around Rs 9 crore, which was owed to homebuyers as compensation and refunds from five developers, was retrieved without going through the auction process. In order to recover Rs 8.72 crore, the MahaRERA issued nine warrants throughout the city, suburbs, and district of Pune. The […]
MahaRERA recovers Rs 9 crore from five developers after nine warrants.more PUNE: In order to address the growing number of complaints regarding violations of the many rules governing the Maharashtra real estate sector, the state office of the Inspector General of Registration and Controller of Stamps (IGR) has requested a review of all property registrations completed between 2020 and 2022. To rule out violations of the […]
From 2020 to 22 Maharashtra IGR will examine all documents for rule violations.more
MUMBAI: According to the Reserve Bank’s most recent Financial Stability Report (FSR), the share of residential home loans in total advances has risen from 8.6% in March 2012 to 14.2% in March 2023. It also said that the housing sector is prospering, with sales growing by 21.6% in the fourth quarter of 2022-23 (January-March). In […]
In 11 years, the share of home loans in total advances has risen to 14.2%, according to an RBI data.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
MUMBAI: A MahaRERA order from 2021 that barred homebuyers from receiving interest retroactive to the date of their payments as well as a refund for other payments, such as stamp duties and registration fees, was modified by the Maharashtra Real Estate Tribunal (MREAT). The MREAT directed an Andheri-based developer to pay interest on the amount […]
The MahaRERA ruling is modified by MREAT, who also instructs the builder to pay interest going forward.more PUNE: According to a MahaRERA official, developers of 39 real estate projects in Pune have requested to be deregistered. Developers from all over the state who are unable to move further with the projects owing to financial constraints, legal issues, changes in government planning authorities, or other factors have submitted a total of 88 applications […]
39 real estate projects in Pune submit deregistration requests.more
One of the largest alternative asset management companies in the world, Brookfield, administers office parks and buildings totaling 18.7 million square feet (1.7 million square meters) in cities including Mumbai, Kolkata, and Gurugram close to New Delhi. Accenture, Amazon, and Samsung Electronics are some of its tenants. NEW DELHI: According to three sources with direct […]
A $400 million offering is planned for July by Brookfield India REIT, according to sources.more
NEW DELHI: In order to make rehabilitation projects economically viable, particularly in the Mumbai region, realtors’ group CREDAI has urged the government to abolish the GST on units that are provided free of charge to current tenants. When meeting with Union Finance Minister Nirmala Sitharaman, a delegation from CREDAI and CREDAI-MCHI made an official representation […]
CREDAI calls for the removal of the GST on free-of-charge apartments offered in redevelopment projects.more
MUMBAI: A civil court dismissed the claim of Shailesh Kamani, a resident of Ghatkopar, who sought a fee of Rs. 3 lacks from a property owner for whom he had allegedly brokered a deal in 2012. The court noted that the role of a broker is to persuade the vendor and purchaser to arrive at […]
Court: Broker may only be compensated for work completed.more Over 584 developers of housing projects registered in January have received show-cause warnings from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for failing to update information about their projects. These are a part of the 746 new housing projects overall that total 50,288 flats and were filed with the regulator in January. They are estimated […]
584 developers receive notifications from MahaRERA for failing to update their quarterly information.more
