BUSINESS
Mumbai developers shower gold coins, discounts to spur home sales on Gudi Padwa
Festive times will help sustain the homebuying spree in mid and luxury segments across the key markets, the real estate players feel.
BUSINESS
Rs 525 crore rental amount due from real estate developers of 150 projects: Maharashtra govt data
The Maharashtra government has decided against allotting any new projects to these real estate developers.
BUSINESS
In Mumbai Metropolitan Region, 1 BHK turns bigger post Covid-19
Apartments with taglines such as ‘BIG 1 BHK’, ‘1 BHK Spacia’ and ‘1 BHK Luxury’ offer 1 BHK of 400-500 sq ft, up from 270-375 sq ft earlier. Post Covid-19, buyers are looking for dwelling units with more space and better amenities, say developers.
BUSINESS
Will the collapse of Silicon Valley Bank in the US impact Mumbai’s office leasing market?
Office leasing market rentals are yet to breach pre-Covid levels in India’s financial capital.
BUSINESS
Slumcat millionaires: How the Maharashtra government’s free housing scheme for slumdwellers is being exploited
Hundreds of slumdwellers who have been rehabilitated since 1995 have sold their apartments for a fat sum and moved into new slums.
BUSINESS
MC Exclusive: Over 4 lakh apartments in Maharashtra worth over Rs 1 lakh crore fall under lapsed real estate projects class: MahaRERA data
Of the total, 70 percent of the lapsed projects are present in Mumbai Metropolitan Region and Pune. Nashik, Aurangabad and Nagpur have 254, 102, and 202 lapsed projects, respectively.
BUSINESS
Maharashtra Budget: 1% stamp duty waiver for women homebuyers to continue
The Budget’s focus is on housing and infrastructure. Under a new housing scheme named 'Modi Awas Gharkul Yojana', the State government will construct 10 lakh dwelling units for OBCs in the next three years at an outlay of Rs 12,000 crore.
BUSINESS
Maharashtra puts over 4,600 affordable homes near Mumbai on sale
The Maharashtra Housing and Area Development Authority's Mumbai board, after a gap of four years, will also announce the sale of over 4,000 affordable homes through a lottery in the next two months
BUSINESS
Women's day 2023: 'Women can take on any role in the real estate sector today, from labour to leadership'
Public policy consultant Aarti Harbhjanka holds forth on the women workforce in the real estate sector and how it can get to where it rightfully belongs.
BUSINESS
Real estate developers body NAREDCO writes to Defence Ministry over stalled redevelopment of 5,000 projects in Mumbai
The letter has sought a resolution to the order that put on hold its December 2022 order lifting restrictions for construction in close proximity of defence establishments.
BUSINESS
Maharashtra realty regulator finds over 1,700 projects with accounts linked to multiple schemes
According to the RERA Act, every real estate project should have a dedicated bank account to ensure that funds are not diverted.
BUSINESS
Homebuyers feel the pinch as Maharashtra collects Rs 1,800 crore Metro cess from property registrations
Residents and experts say charging the cess from areas not part of a Metro zone is unfair. In fact, they point out that Delhiites are not paying any such cess for the Delhi Metro
BUSINESS
A test of endurance for homebuyers in Nirmal Lifestyle's Mumbai projects
A decade on, homebuyers who invested their life savings wait for delivery of what they hoped would be their dream homes.
BUSINESS
One worries about Mumbai’s pollution, I hope govt is able to do something, says Nadir Godrej
71-year-old Godrej, a south Mumbai resident, says he would love to walk to work but has no immediate plans to shift out of his family house in Malabar Hill.
BUSINESS
Area watch: How residential buildings of Matunga are being redeveloped with parking space becoming a differentiating factor
Matunga was developed 50 years ago. That makes this largely residential locality of Central Mumbai ripe for redevelopment. Players both big and medium size, have thrown in their hats into the arena.
BUSINESS
Maharashtra wants all real estate project permission data online and linked to MahaRERA website
The move comes after hundreds of homebuyers were duped in recent years by real estate developers, who allegedly sold apartments for crores with the help of fake documents
BUSINESS
MahaRERA to summon developers for not allowing project site inspection over suspected financial irregularities
Additionally, the authority has sent notices to two developers for publishing advertisements of their projects without showcasing their RERA registration number.
BUSINESS
Can a homebuyer seek full refund of booking amount in case of job loss?
The MahaRERA order said the forfeiture clause in the booking application form/allotment letter was “unreasonable”, and not in consonance with recent MahaRERA order.
BUSINESS
MahaRERA slashes registration fees for sole proprietary real estate agency firms to Rs 10k from Rs 1 lakh
Real estate agents had been demanding this for long individually but were heard only after they collectively sought the change.
BUSINESS
About 1,400 real estate developers in Maharashtra comply with project details after 19,000 MahaRERA notices
Around 75 to 80 percent of ongoing registered projects in Maharashtra do not regularly upload the statutory quarterly progress reports on the project status and finances.
BUSINESS
75 to 80 percent of ongoing real estate projects do not upload status reports: MahaRERA
The fallout of this is poor data, which comes in the way of policy framing and regulation, say MahaRERA officials.
BUSINESS
MahaRERA investigators to begin project site visits from Feb 20 over irregularities
Initially, 15-16 site visits will be done by the investigators where MahaRERA suspects excess expenditure, compared to actual construction work.
BUSINESS
Delhi-Mumbai Expressway stretch opening sparks real estate boom in NCR
Land rates are already up 60-70 percent near the Sohna-Dausa section of the expressway. Improved connectivity is expected to lead to increased demand for commercial space and warehousing and logistics activities.
BUSINESS
MahaRERA directs realty agents to make transaction details public twice a year
The order to come into force in the next financial year.
