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Income Tax Department

Income Tax Department conducts a raid on prominent real estate firm in Mumbai, Pune and identifies Rs 700cr as black money.

August 3, 2019

By Abhay Shah, Realty Quarter On 2nd of August, the income tax department disclosed raids on 40 premises of a real estate firm based in Mumbai claiming to have detected Rs 700 Crore worth of tax deception. The Central Board of Direct Taxes (CBDT), which frames tax policy, issued a declaration saying that the operation took place […]

Income Tax Department conducts a raid on prominent real estate firm in Mumbai, Pune and identifies Rs 700cr as black money.more
Electricity

Delhi chief minister has announced to provide free electricity for all individuals consuming up to 200 units.

By Abhay Shah, Realty Quarter On August 1, 2019, Chief Minister Arvind Kejriwal announced free electricity for people consuming up to 200 units in a move a few months ahead of the Delhi assembly polls. Kejriwal said his government would offer complete subsidies for people using up to 200 units of electricity at a press […]

Delhi chief minister has announced to provide free electricity for all individuals consuming up to 200 units.more
Redevelopment

Three years advance rent payable by developers under SRA projects: Maharashtra Government.

August 2, 2019

By Abhay Shah, Realty Quarter In the past, many slum residents underwent redevelopment complained that developers didn’t pay the rent amount for the accommodation for transit. For instance, More than 100 slum residents of the Dhobi Ghat slum rehabilitation project in Mumbai have been telling us that they have not received their monthly rental from the developer […]

Three years advance rent payable by developers under SRA projects: Maharashtra Government.more
PMAY-Urban-Yojna

The government provides approval for construction of about 1.4 lakh more houses under PMAY (U).

By Abhay Shah, Realty Quarter On Thursday the centre approved the construction of nearly 1.4 lakh more homes under the Pradhan Mantri Awas Yojana, which would take more than 85 lakh houses to be built under this scheme. The Union Housing and Urban Affairs Ministry said that the approval of this decision was provided by […]

The government provides approval for construction of about 1.4 lakh more houses under PMAY (U).more
House

The model tenancy law can induce developers to build about 50% of houses for rent purpose: NAREDCO.

August 1, 2019

By Abhay Shah, Realty Quarter Realtors’ body, NAREDCO (National Real Estate Development Council), stated that the proposed model tenancy legislation would greatly encourage rental housing if enforced in all states, and anticipated builders to build at least 50% of their total rental inventory in the next five years. A draft of “The Model Tenancy Act 2019” […]

The model tenancy law can induce developers to build about 50% of houses for rent purpose: NAREDCO.more
mhada

MHADA to amend laws to accelerate the redevelopment of cessed buildings.

July 30, 2019

By Abhay Shah, Realty Quarter The Maharashtra Housing and Area Development Agency (MHADA) is taking measures to expedite the redevelopment of the cessed buildings in the island city, as a matter of urgency, following the death of 11 individuals in the Kesarbai building collapse in Dongari on 16 July. The MHADA proposed new legislation on the […]

MHADA to amend laws to accelerate the redevelopment of cessed buildings.more
Raheja developers

Raheja Developers failed to make the payment, faces insolvency proceedings.

By Abhay Shah, Realty Quarter Raheja Developers, a Delhi-based builder, is in a situation of insolvency as per Section 9 of the Insolvency and Bankruptcy Code 2016, which has been ordered by the National Company Law Appellate Tribunal (NCLAT) to acknowledge the case. In a complaint lodged by an operational creditor, Ahluwalia Contracts (India), the appellate tribunal […]

Raheja Developers failed to make the payment, faces insolvency proceedings.more


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