BUSINESS
RERA has no jurisdiction over redevelopment component, rules MahaRERA in a South Mumbai project dispute
Tenants from a redevelopment project in Girgaon had approached MahaRERA seeking compensation. However, the regulator in its order ruled that the rehabilitation component of a project does not fall under the purview of MahaRERA.
BUSINESS
Kamathipura: Green light for redeveloping Mumbai’s red light area?
Spread over 39 acres, redeveloping the area will open up over 2 mn sq ft of prime property. Each tenant and landlord will get at least a 500-sq-ft apartment.
BUSINESS
MHADA to conduct lottery for more than 4,000 affordable homes in Mumbai
More than 50 percent of these will be for the EWS category. Spread across Mumbai, the sizes of these apartments across the LIG, MIG, and HIG categories will range from 300-600 sq. ft.
BUSINESS
Nirmal Developers’ land parcel in Mumbai to be auctioned for 'delayed' possession to homebuyers
The auction of 2,634 square metre land parcel at a base price of Rs 31.81 crore will be held on January 18 by Maharashtra government authorities owing to various recovery warrants issued by Maharashtra RERA against the developer.
BUSINESS
MC Explainer: Does 40% lapsed projects post creation of MahaRERA indicate failure of regulator?
Moneycontrol speaks to experts including lawyers and developers to understand whether lapse of new projects means MahaRERA has failed to regulate the new projects in Maharashtra
BUSINESS
Top 5 Maharashtra Real Estate Regulatory Authority orders in 2022
Maharashtra RERA, also known as MahaRERA, completed five years in 2022. It passed several orders in the year. Five of them stand out. We take a look at those orders and their impact on the real-estate sector.
BUSINESS
MahaRERA allows developers to apply for extension of construction period without majority homebuyer consent
Maharashtra has more than 4,500 lapsed, or delayed, residential projects, and the order issued by MahaRERA allows developers to apply for an extension of registration without homebuyers’ consent.
BUSINESS
MC Exclusive: 38% of delayed real estate projects in Maharashtra launched after MahaRERA’s creation: data
A total of 4,555 real estate projects lapsed, of which 2,789 were old projects registered as 'ongoing' in 2017 and 1,766 were new projects, MahaRERA said in response to a Right To Information (RTI) application filed by Moneycontrol.
BUSINESS
Adani wins Dharavi redevelopment project — what next?
In the next 17 years over 10 million sq ft is slated to be constructed at a cost of over Rs 20,000 crore. Of this, 2-3 million sq ft is meant for sale while the rest is for rehabilitation of the slum dwellers.
BUSINESS
Adani Group clinches Dharavi redevelopment project with Rs 5,069-crore bid
The Maharashtra government aims to finish the project in the next 17 years and complete rehabilitation in the next seven years.
BUSINESS
Maharashtra authorities ask housing societies to issue NOCs for installation of EV charging points within 7 days
A separate electricity connection for charging EVs is aimed at enhancing the EV adoption rate in Mumbai, where private vehicles rely on home chargers for up to 80% of their needs
BUSINESS
MahaRERA revokes registration of 15 real estate projects near Mumbai for 'fabricating documents'
The projects are mostly in the affordable residential housing segment, with the unit price varying between Rs 30 lakh and Rs 60 lakh.
BUSINESS
Navi Mumbai: CIDCO to mop up Rs 1,355 crore from e-auction of 22 plots
The land parcels received bids at record prices. That’s thanks to implementation of the Unified Development Control and Promotion Regulations (DCR) for all of Maharashtra, excluding Mumbai.
BUSINESS
MC Explains | How Dharavi, one of Asia's largest slum clusters, will get a facelift?
Located in Central Mumbai, the sprawling slum is home to 1 million people and a hub for several small-scale, unorganised industries that manufacture medicines, leather, footwear and clothes. After several abortive attempts in the past, Dharavi, spread over 300 acres, is now set for redevelopment.
BUSINESS
Adani Realty, DLF, Naman Group in race for Dharavi redevelopment project in Mumbai
The Maharashtra government aims to complete the bidding process by 2022-end, and the winner will have seven years to execute the project.
BUSINESS
Three companies bid for Rs 20,000-crore facelift to Dharavi
November 15 was the last date for submission of bids; names of bidding companies expected to be known on November 16 when the bids will be opened.
BUSINESS
Redevelopment projects trigger up to 15% rise in Mumbai rentals
The average rental has jumped from approximately Rs 60-90 to Rs 65-100 psf in the western suburbs, and from Rs 45-60 to Rs 50-70 psf in the eastern suburbs.
REAL-ESTATE
CREDAI partners with HDFC Capital to facilitate investment of Rs 5,000-10,000 cr for housing in non-metros
The announcement was made by CREDAI at the 'NATCON 2022' annual event in Abu Dhabi on November 11.
BUSINESS
MahaRERA revokes registration of 49 real estate projects in MMR for fabricating documents
The developers of these projects in Kalyan-Dombivali Municipal Corporation jurisdiction have been barred from selling apartments in them. The regulator wants all relevant milestone approvals of real estate projects to be put on a dedicated portal.
BUSINESS
Rustomjee Group-run Keystone Realtors sets IPO price band at Rs 514-541, to focus on homes between Rs 1 crore and Rs 7 crore
Rustomjee group’s managing director Boman Irani says they do not have any plans to enter the data centres or warehousing businesses but will focus on the residential segment in the Mumbai Metropolitan Region.
BUSINESS
Maharashtra govt forms panel to jumpstart over 200 stuck realty projects in Navi Mumbai
Almost Rs 1,000 crore invested by over 1,200 home buyers is stuck in these projects.
BUSINESS
Kalyan Dombivali Civic Body issues notices to 65 developers involved in alleged fake documents submission to MahaRERA
The developers indulged in fraud between 2017 and 2022, and home buyers shelled out Rs 25 lakh to Rs 35 lakh for each of the tenement constructed by these developers, according to KDMC.
BUSINESS
Janhvi Kapoor and family buy duplex property in Mumbai for Rs 65 crore
The apartment, with a carpet area of 6,421 sq ft, is located on the first and second floors of a building at Pali Hill
BUSINESS
Dharavi can become a commercial hub like Bandra-Kurla Complex after redevelopment: CEO of Redevelopment Project
More than 1 crore square feet of construction is expected to come up in Dharavi in the next 17 years with close to 70-80 lakh square feet for rehabilitation and the rest for sale in the open market, SVR Srinivas, CEO of Dharavi Redevelopment Project (DRP), tells Moneycontrol.
