MahaRERA: Delay in document approvals slows registration process
July 20, 2017

As the deadline for registration of ongoing real estate projects with Maharashtra Real Estate Regulatory Authority (MahaRERA) approaches, the government is worried about the slow pace of registrations. Till now, about 900 developers have registered with the regulator. Developers claim that delays in getting documents from other departments is causing problems in registration. Builders in Kolhapur, for instance, have stated that the Kolhapur Municipal Corporation (KMC) is yet to sanction the revised layouts of the… Read More

MahaRERA allows correction in project docs from Sept
July 20, 2017

Maharashtra Real Estate Regulatory Authority (MahaRERA) has announced that all developers registering (or registered) under the Real Estate (Regulation and Development) Act would be able to revise or correct the uploaded documents of their projects from September 1. For making any correction in the submitted documents, developers would need the authority’s permission along with a fee of Rs 5,000. Apart from the correction clause, the latest notification by MahaRERA also mentions that the revision should… Read More

Maharashtra proposes conversion of collector land into freehold plots
July 19, 2017

In a move that could significantly benefit housing societies in the state, the Maharashtra revenue department is considering to permit the conversion of collector lands into freehold plots against a premium. If approved, this will allow housing societies built on government land to gain ownership of the plots. Experts state that there are 22,000 such societies across Maharashtra, of which about 3,000 are in Mumbai alone. Residents of housing societies state that conversion into freehold will help… Read More

Mumbai: Project not registered till July 31? Get ready to face RERA heat!
July 18, 2017

The Maharashtra Real Estate Regulatory Authority (Maha RERA) has announced that the authority would take strict actions on informal complaints against real estate builders, who fail to register their projects with the authority by July 31 - a deadline set by the State. As per RERA rules, complainants are required to pay a fee of Rs 5,000 to register any complaint against builders in the State. Maha RERA has decided to take suo moto action… Read More

Navi Mumbai SEZs face the threat of denotification
July 16, 2017

The threat of denotification looms over the Special Economic Zones (SEZ) in Navi Mumbai as the commerce ministry has given a deadline of August 30 to the state government to resolve the issues plaguing the units. Failure to fix the issues by the set deadline would lead to the denotification of the SEZ units. This announcement was made by the Board of Approval (BoA), which was chaired by Rita Teaotia, Secretary, Ministry of Commerce. The… Read More

Pimpri-Swargate metro line to be extended till Nigdi
July 16, 2017

The Pimpri-Swargate metro line is proposed to be extended to Nigdi in the second phase of the project. Brijesh Dixit, Managing Director, Mahametro, shared that the authority will soon discuss the proposal with the central and the state governments. This announcement has been prompted by the demands of citizens and social organisations for the expansion of the mail rail network in Pimpri Chinchwad. Experts state that Nigdi, along the Mumbai Pune highway, is the starting point of… Read More

BMC issues SOP for officials; eases process for obtaining OC
July 14, 2017

Easing the pains of stakeholders in dealing with the Brihanmumbai Municipal Corporation (BMC) officials, the civic body has issued a standard operating procedure (SOP) for its officials and engineers. This will prevent BMC officials from asking for unnecessary documents or bribes from builders in return for issuing the occupation certificates (OC). BMC has also issued a list mentioning the documents engineers should examine before issuing OCs and set down a timeframe for the submission of the… Read More

Only 350 developers, 300 projects registered under Maharashtra RERA
July 13, 2017

Although the Maharashtra Real Estate (Regulation and Development) Act (RERA) came into effect on May 1, 2017, only 350 developers in the state have registered themselves with the realty regulator. Considering that the state has 9,000 developers and the deadline for registration under RERA is July 31, industry experts are worried about the pace of progress. Meanwhile, with an estimated 10,000 plus ongoing projects in the state, only 499 applications have been filed with Maharashtra… Read More

Maharashtra RERA website to permit editing of submitted details
July 12, 2017

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has clarified that developers may correct any discrepancy or errors in the details submitted for registration under the Real Estate (Regulation and Development) Act. The Maharashtra RERA website has a new window for making corrections in the submitted details. Experts state that the slow pace of registrations in the state can be attributed to the fact that developers were not allowed to make any changes in the project… Read More

Maharashtra local authorities to handle green approvals for projects up to 1.5 lakh sq m
July 10, 2017

The Ministry of Environment and Forest (MoEF) has announced that projects in Maharashtra with area up to 1.5 lakh sq m will not need separate green clearance. Henceforth, such approvals will be integrated with the development control regulation (DCR). Government officials explained that the authority responsible for granting the building permission will have to integrate the green clearance conditions laid down by the MoEF. The updated norms are applicable on all projects meeting the area… Read More

MMR burdened with unsold inventory worth Rs 2.5 lakh crore: Report
July 5, 2017

According to Liases Foras, the Mumbai Metropolitan Region (MMR) is currently stuck with unsold inventory close to Rs 2.5 lakh crore. The past year witnessed another one lakh units remaining unsold. Industry experts are not very hopeful of this stockpile getting cleared anytime soon as the average value comes close to Rs 1 crore. The anticipation of price correction as a result of the Real Estate (Regulation and Development) Act (RERA) has further led to… Read More

No projects registered with RERA in Aurangabad
July 2, 2017

With an aim to bring transparency and remove illegal practices in the real estate sector, the Real Estate Regulatory Authority (RERA) was implemented across the country on May 1, 2017. While it been almost two months, not a single developer in Aurangabad has registered their projects under the RERA rules. The snail pace of registration is not just limited to Aurangabad. Other regions like Marathwada, Amravati have similar approach. As of now, a total of… Read More

MHADA prepares for the sale of 800 affordable homes in Mumbai
July 1, 2017

Nearly 800 affordable houses at Sion, Goregaon, Mulund and Mankhurd in Maharastra will be up for sale in July. The Maharashtra Housing and Area Development Authority (MHADA) will hold a lottery, which has been delayed as the authority had to register its projects under the Real Estate (Regulation and Development) Act (RERA). The authority has managed to offer 23,895 houses in the last 10 draws among 14.94 lakh applicants. In the last lottery, MHADA sold… Read More

Grievance redressal mechanism missing from Maharashtra RERA website
June 30, 2017

While Maharashtra was among the first states to set up a regulatory authority under the Real Estate (Regulation and Development) Act (RERA), the regulator’s website is yet to provide a grievance redressal mechanism. This has brought out the ire of buyers and consumer groups. It must be noted that under RERA, buyers have a right to access details of registered projects as well as lodge complaints about errant developers. While the Maharashtra RERA website allows… Read More

Press Release

REMI collaborates with Gaia Smart Cities and BSE Institute for Smart City PROGRAM
June 23, 2017

REMI collaborates with Gaia Smart Cities and BSE Institute for Smart City PROGRAM23rd June 2017 Leading real estate institute REMI along with Gaia Smart Cities and the BSE Institute has launched an extensive program on Smart Cities in order to dispense knowledge to the attendees. The 3-day program has been designed in line with global benchmarks and will be undertaken by industry experts such as Dr. Sumit D Chowdhury, Founder & CEO, Gaia Smart Cities,… Read More

Maharashtra RERA excludes verandah, balcony, terrace from carpet area
June 19, 2017

The Maharashtra Real Estate Regulatory Authority (RERA) has issued a circular clarifying the calculation of carpet area. The circular states that the balcony, veranda, and terrace, cannot be included in the carpet area, even if these are exclusive to the flat. Meanwhile, internal walls have been included in the calculation. Maharashtra RERA has asked developers in the state to abide by this standard while preparing sale agreements. Experts anticipate the per sq ft rate to increase in certain… Read More

Navi Mumbai airport may have to wait till 2022
June 17, 2017

According to the International Air Transport Association (IATA), the ambitious Navi Mumbai international airport is not expected to be operational before 2022. Early this year, Devendra Fadnavis, Chief Minister (CM), Maharashtra, had set a deadline of 2019 for the completion of the airport, which was later revised to 2020. The additional delay in the project is likely to disappoint real estate stakeholders in the area. IATA, an airlines' body that represents about 275 airlines, is… Read More

Developers offer discounts in a rush to sell before RERA registration
June 14, 2017

Several consumer forums in Pune and Mumbai have spoken out against developers trying to woo buyers through discounts without registering with the Real Estate Regulatory Authority (RERA). The forums have advised buyers to refrain from falling prey to such discounts and avoid purchasing properties until the developers register themselves and their projects with the real estate regulator under the Real Estate (Regulation and Development) Act. Experts from such forums explain that developers are trying to… Read More

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