By Abhay Shah, Realty Quarter In the near future, all flat owners in the state will receive additional estate cards with details such as carpet area, amenity space and information on bank loans, along with their 7/12 extracts. In a bid to verify fraudulent operations, the Maharashtra cabinet on August 28 approved the “vertical estate […]
Flat owners will soon receive supplementary property cards.more
By Abhay Shah, Realty Quarter Overseas investment regulations in construction were eased by the government to bring money to the fund-starved industry and serve its twin goals of creating faster jobs and homes for all. A comprehensive proposition by the Department of Industrial Policy & Promotion (DIPP) was endorsed by the Union Cabinet on Wednesday, […]
Government refines the laws on Foreign Direct Investment for the real estate industry.more
By Abhay Shah, Realty Quarter In an effort to increase slowing economic growth in India, the finance minister lately announced a slew of projects. It is not just the real estate industry that is experiencing a slowdown in growth, but the entire economy. This has been ascribed to a number of factors, including global trade […]
Is the economic stimulus package of the Finance Minister going to revive the real estate industry?more
By Abhay Shah, Realty Quarter Although the number of homes sanctioned is approximately 81 lakh under PMAY-U and approximately 1 crore under PMAY-G respectively, according to a new study, the actual completions, especially under PMAY-U, were moving at a slow pace, at only 32% of the homes sanctioned. However, PMAY-G’s progress has been considerably improved, with […]
ICRA Reports: The actual completion of houses under PMAY-G is greater compared to PMAY-U.more
By Abhay Shah, Realty Quarter In one of the worst redevelopment cases, 10 families in a chawl in Malad East are still waiting to take possession of their tenements 27 years after the chawl is vacated for redevelopment. The families have now brought their petition to the City Civil Court in Dindoshi for the violation of the consent terms and conditions signed in July 2018 against the developer Damodar S Mudaliar of Web India Construction. They also lodged a complaint with the Economic Offences Wing, which asked the […]
Malad East Chawl redevelopment project stuck from past 27 years.more
By Abhay Shah, Realty Quarter In six states, where 517 local authorities have created it online, the method of seeking permission for construction in prohibited and regulated areas around the Archeological Survey of India protected landmarks will now be simpler. On 27 August, Prahlad Patel, Minister of State for Culture and Tourism, introduced an integrated […]
The Minister of State for Culture and Tourism launched the integrated NOC online application processing system.more
By Abhay Shah, Realty Quarter In spite of removing the relief following a directive from the state government, the municipal authority may not recover a 40% discount granted to self-occupied property owners for almost 50 years. The Pune Municipal Corporation (PMC) Law Committee told the municipal administrative authorities, to withdraw the retrospective recovery of the tax scheme. “Tax recovery will […]
The law committee of Pune Municipal Corporation objects to the recovery of property tax relief.more
By Abhay Shah, Realty Quarter A housing society in Vidyavihar, which possessed the land and performed a redevelopment contract with a builder in 2011 but ended the deal, last February, is a co-promoter of the project under the real estate regulatory act and accountable to customers who booked free-sale unit flats, MahaRera retained in a substantial […]
MahaRERA penalised housing society and builder for violating the Act.more
By Abhay Shah, Realty Quarter The real estate company Puravankara Ltd is entering in a co-living segment and is developing its first project, which includes more than 1,000 beds, in Mumbai, said a top official. The company based in Bengaluru has identified a project for this growing segment in Goregaon, Mumbai, said MD Ashish R Puravankara. The firm still has to […]
Puravankara Ltd is going to launch its first co-living space project in Goregaon, Mumbai.more
By Abhay Shah, Realty Quarter In the residential market, Mumbai has allegedly seen a decrease in capital rates, QoQ. The property market in the maximum city is being pressurized and prices are corrected, owing to multiple factors such as liquidity crunch, a decrease in land acquisition and delays in government policy. Mumbai saw good momentum in real estate activity for the first quarter of 2019. Nevertheless, several factors resulted in a […]
Mumbai experiences change in property price in H1 2019.more