BUSINESS
MC Explains | The difference between RERA-registered, 'approved' and compliant projects
Some developers suggest their projects are RERA-approved when in fact they have only been registered with the real estate regulator and are not compliant with post-registration requirements
BUSINESS
Patra Chawl redevelopment: Hundreds of home buyers to hit the streets for delayed possession
Some apartments are ready but cannot be handed over as MHADA is refusing to issue the occupation certificate until the developers clear pending dues of Rs 3,100 crore. As always, tax-paying home buyers are the ultimate victims
BUSINESS
MahaRERA to inspect construction sites for financial wrongdoings, over 300 large projects on radar
The regulator plans to hire private investigators, who will visit construction sites and prepare status reports.
BUSINESS
Will the festive season lift housing sales in Maharashtra and Karnataka?
Sales have dropped over the last couple of months due to excess supply, higher prices, rising home-loan rates and a hike in the stamp duty rate.
BUSINESS
Maharashtra govt develops blockchain technology to store property buyers' e-registration data
The blockchain will store the e-registration data and authenticate it. Currently, 417 developers in the state have opted for the e-registration system.
ECONOMY-2
Finance Ministry releases 6th instalment of revenue deficit grant of Rs 7,183 crore to 14 states
”The Department of Expenditure has on Tuesday released the 6th monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 7,183.42 crore to 14 states,” the ministry said in a statement.
BUSINESS
MahaRERA orders developer to deduct 2% , not 10%, of the price of apartment for cancelled booking
The ruling will help buyers make a case for paying a lower amount should their home allotment letters specify a higher forfeiture in case of cancellation of bookings
BUSINESS
Is redevelopment the only solution for old dilapidated buildings in Mumbai?
There are more than 14,000 cessed or dilapidated buildings in central and south Mumbai. While redevelopment remains the only solution for the majority of them, experts say residents should go for regular repairs and structural audit while exploring self-redevelopment in the meantime.
BUSINESS
Noida twin tower demolition: Residents check in to hotels with a view
More than 3,700 kg of explosives will be used in the demolition, which will be executed using the controlled implosion technique.
BUSINESS
Real estate project completion date unilaterally changed by developer not binding on home buyers, says Maharashtra Real Estate Tribunal
Developer’s effort to wriggle out the situation saying no agreement for sale had not been entered into, did not pass muster with MREAT, which said the allotment letter contains important ingredients of such agreement for sale.
BUSINESS
Kolte-Patil Developers plans to invest Rs 1,500 crore in Pune, Mumbai, Bengaluru
Group CEO Rahul Talele says this will be done in three years. The company is also interested in taking up stuck slum rehabilitation projects in Mumbai. It also plans to provide EV charging stations in housing projects wherever feasible.
BUSINESS
CIDCO gets bids worth Rs 678 crore for five plots in Navi Mumbai: Sources
The CIDCO had last month declared an e-auction for 16 plots of which auction results for five plots came out on August 22
BUSINESS
What is attracting young Chartered Accountants to the Real Estate Regulatory Act, 2016?
Compliance and arguments are two lucrative areas of work for young CAs.
BUSINESS
Cidco to auction 14 plots in Navi Mumbai at a base price of over Rs 146 crore
The timing of the auction is perfect, coming on the back of last month’s announcement, where Cidco tripled the cap on the height of buildings.
BUSINESS
MahaRERA order to allow developers to cut over 2% amount from buyers in booking cancellation
Earlier, the deduction in case of cancellation of booking by home buyer was capped at 2% by MahaRERA.
BUSINESS
No RERA registration required for rehabilitation part of redevelopment projects in Maharashtra: Tribunal
There is a popular misconception that RERA registration applies to the entire project including the rehabilitation component, which is not the correct legal interpretation of the provisions of the Act, rules Maharashtra Real Estate Appellate Tribunal.
BUSINESS
Booking amount can’t be forfeited if buyer cancels purchase, says Maharashtra real estate tribunal
The tribunal said RERA is silent on the point of permissible deduction if an allottee cancels a booking
BUSINESS
India@75: Maharashtra housing authority plans to redevelop 7 lakh sq ft to rehabilitate refugee families
Meanwhile, residents resist demolition of their dilapidated properties even as they differ on the mode of redevelopment
BUSINESS
India@75: 75 years after Partition, Mumbai’s GTB Nagar 'refugee' colony residents struggle for redevelopment
The refugees were given apartments for around Rs 14 per sq ft in 1957; the rates have now skyrocketed to around Rs 25,000 per sq ft. But for the refugees, the value remains only on paper — the buildings have been vacated as these are in dilapidated condition.
BUSINESS
Explained: Why and how Maharashtra plans to have 50% e-registrations for property deals
In 2021, the state launched software which enables developers to e-register property sales at their own offices. One reason for such a system was to arrest registration revenues from falling. They have been going down since the COVID-19 breakout. The second was to end the crowding at the registrar's offices.
BUSINESS
Seventeen years after launch, buyers await possession of apartments in Mumbai's Mulund
The project, being developed by the Runwal Group, ran into delays after a legal dispute on the status of the land on which it was being constructed
REAL-ESTATE
Homebuyers wait anxiously as construction of Thane residential project drags on
Across Indian cities, buyers have been waiting for years for what they hoped would be their dream homes after investing their life savings and borrowing from banks. Moneycontrol chronicles the plight of homebuyers in one stalled project in Thane.
BUSINESS
MTNL to rent office space spread across 4,300 sq ft in South Mumbai to Maharashtra govt
The decision to take the office space on rent at Rs 15.99 lakh per month for the state government's pleader office was taken by the law and judiciary department of Maharashtra.
BUSINESS
Not interested in politics, only concerned about our homes and unpaid rent, say tenants of Patra Chawl
All about the Patra Chawl redevelopment project and why has it shot into the limelight
