BUSINESS
Focused and committed to Dharavi revamp project, awaiting letter of award from Maharashtra authorities: Adani Realty
The company says the recent events have no impact on its commitment and ability to successfully undertake this important project for Mumbai.
BUSINESS
UP Global Investors Summit 2023 | The House of Abhinandan Lodha plans to invest Rs 1,800 cr in over 600 acres across the state
The company says it will continue to focus on north and western India, where it sees tremendous scope for branded land development.
BUSINESS
Budget 2023: Will Rs 10 crore cap on capital gains deductions hit redevelopment in Mumbai realty market?
Landlords looking to sell their land parcels to developers face around 20 percent tax on capital gains above Rs 10 crore. But experts say they can reduce outgo by structuring the deals.
BUSINESS
MahaRERA allows deregistration of a real estate project by developers with conditions
The MahaRERA said the process of deregistration is being introduced as there are instances where developers who have registered their real estate projects are unable to commence and complete the construction of the same.
BUSINESS
26 percent jump in stalled real estate projects in under a year: MahaRERA
The MahRERA has taken up 624 of these projects that are 70 percent done to drive them towards completion.
BUSINESS
MC Explainer: Can Maharashtra RERA classify and rate real estate developers or projects?
After the Bombay High Court recently raised the query, Moneycontrol spoke to legal experts to understand whether this can be done so that people can make informed decisions.
BUSINESS
Maharashtra readies homes for Raigad village hit by landslide in 2021
MHADA, the state housing development authority, plans to construct 231 houses spread across 17 acres at a cost of Rs 77 crore for Taliye village landslide victims. The homes will be given free of cost.
BUSINESS
Mumbai civic body got Rs 33,274 crore in property tax, developer premium since COVID-19 hit
Almost half of the collections were on account of a surge in developer premium collections in financial year 2022.
BUSINESS
Budget 2023-24: BMC allocates Rs 25 crore to improve air quality of Mumbai, will monitor dust emission from real estate projects
The BMC in its budget for 2023-24 has indicated a 16% hike in the property tax from the upcoming fiscal of 2023-24
BUSINESS
Budget 2023: Builders with mixed portfolio may not be impacted by cap on capital gains deduction
Some developers expect the limit on deductions to hurt sales of ultra-luxury homes
BUSINESS
Delayed possession: Maharashtra authorities recover Rs 100 crore from developers
A sum of Rs 11.42 was recovered in Mumbai, Rs 55.57 crore in Mumbai Suburban, Rs 32.76 in Pune district and Rs 15.10 crore in Raigad district, MahaRERA has said
BUSINESS
Arvind SmartSpaces plans to invest Rs 1,000 crore over 2-3 quarters
The real-estate firm to deploy the money in Ahmedabad, Bengaluru, the Mumbai Metropolitan Region and Pune. The company's will continue to focus on residential real estate in these four cities in the next two years
BUSINESS
Bank of Baroda takes part-possession of Nirmal Lifestyle's mall in Mumbai
The bank’s move follows the failure to repay a loan of Rs 161 crore. BoB took possession of 3.4 lakh sq ft area, under the Sarfaesi Act, on January 24, 2023. A demand notice was first issued on December 6, 2019
BUSINESS
Mumbai builders seek series of waivers to redevelop projects
Developers owe more than Rs 800 crore towards development charges to planning authorities in Mumbai; they have also sought waiver of penalty and interest on such charges.
BUSINESS
Going, going, gone: 3BHK flats in Mumbai with EV parking, solar power for under Rs 1 crore
For the first time in its history, MHADA is offering premium amenities — comparable to those offered by private builders — in its affordable housing project in a tony suburb.
BUSINESS
CIDCO amends building reconstruction policy; 51% consent required for redevelopment of buildings in Navi Mumbai
According to developers, more than 350-400 buildings are likely to directly benefit from this change in policy.
BUSINESS
What the 2 new Metro lines mean for Mumbai real estate — check details of land appreciation and property prices
PM Modi on 19 January inaugurated two new Metro lines in Mumbai. The 18.6 km-long Mumbai Metro Rail line 2A connects suburban Dahisar (East) with the 16.5 km-long DN Nagar (yellow line) while metro line 7 joints Andheri (East) with Dahisar (East).
BUSINESS
Delayed home possession: Maharashtra govt to auction properties worth ₹6.77 cr of developers near Mumbai
In the last five years, MahaRERA has issued 751 recovery warrants against developers for around Rs 717 crore, as per June 2022 data.
BUSINESS
Auction of Nirmal Developers' land in Mumbai by state authorities for alleged default postponed
The auction of 2,634 sq. mt land at a base price of Rs 31.81 crore was scheduled today at 11 am but has been postponed after a technical issue was raised by the developer
BUSINESS
MahaRERA investigators to begin site visits of real estate projects over suspected financial wrongdoings: officials
Initially, 40 to 45 stalled real estate projects where developers have declared higher costs than they have actually incurred will be inspected by the investigators.
BUSINESS
Maharashtra Real Estate Tribunal sets aside MahaRERA order mandating portals to register as real estate agents
Real estate websites had challenged the order in MREAT, saying they do not participate in any prospective or actual transactions in any manner and are merely involved in advertising the properties.
BUSINESS
MahaRERA to issue notices to 18,000 real estate projects for failing to upload info
Notices are being issued to old as well as new projects by the Maharashtra Real Estate Regulatory Authority. These projects claim to be RERA registered but are yet to share information about their finances, work and certificates to be RERA compliant, say officials
BUSINESS
MC Exclusive: Dharavi redevelopment work likely to start in Oct 2023: Project CEO SVR Srinivas
Srinivas says once the letter of intent is issued to the Adani Group this month, an MoU will be signed in February 2023. This will be followed by a master plan and a special purpose vehicle. Work will commence after monsoon, he said.
BUSINESS
Maharashtra: 5,990 affordable homes for sale via lottery system in Pune region, 2,908 to be sold on first come, first served basis
The unit size for each flat varies from 300 sq ft to above 600 sq ft, and the price varies from Rs 13 lakh to above Rs 60 lakh, depending on the area, according to MHADA.
