Maharashtra RERA: List of approved projects and agents
April 18, 2019

Being the most active States across the country in the efficient implementation of the Real Estate (Regulation and Development) Act (RERA), the regulatory authority has shared an updated sheet of all registered ongoing projects and agents on the website. Out of 34,500 projects registered under the Act till date, Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved a total of over 20,000 projects as of now. In terms of agents, the number of registered agents has crossed 19000-mark. RERA registered projects in PuneRERA registered projects in MumbaiRERA registered projects in Navi MumbaiRERA registered projects in Thane You can check the…

Builders urge HC to re-align Mumbai-Ahmedabad bullet train corridor
April 18, 2019

The development of housing societies in Vasai may prove to be a major hurdle for the development of the Mumbai-Ahmedabad Bullet Train project. Recently, two builders have moved the Bombay High Court opposing the alignment of the Rs 1.08 crore bullet train project. It has been found that the route alignment will require portions of land affecting an under-construction 13-storey residential tower project at Vasai. The builders have informed that court that about 95 percent of construction is completed and around 50 flats have been sold. The petitioners, Kalash Devcon LLP and Chetna Land Developer, are urging to alter the…

Work on 150 roads in Mumbai delayed till September
April 15, 2019

Reconstruction work on over 150 roads in Mumbai, to cover potholes and correct the surface level, will be delayed until the monsoon ends, according to civic officials from BMC. To sanction this work, the civic body was supposed to submit the respective mandatory proposal but this was delayed and by that time, the election code of conduct had come into effect. Due to this misstep, the work cannot be done during the heavy monsoon downpour in September. Officials have shared that the civic body has a plan in place to take care of the pothole problem during the monsoon. BMC…

Mumbai: HC directs civic body to stop reclamation work for Coastal Road project
April 15, 2019

In view of the environmental and ecological concerns raised by the activists and Non-government organisation (NGO), Bombay High Court has recently directed the Brihanmumbai Municipal Corporation (BMC) to halt the land reclamation activities pertinent to Coastal Road project. Additionally, the court has refrained the authority from initiating reclamation activities in the areas between Worli sea face and Worli-end of the sea link. Post the said directives, the work for the project has been postponed till April 23, 2019. According to the concerns of the city activists, the reclamation work would adversely impact the coastal morphology of the city. The petition…

MHADA workers protest against financial aid for Dharavi project
April 14, 2019

The State government has requested Maharashtra Housing Area Development Authority (MHADA)  for financial assistance of Rs 800 crore to purchase railway land for the Dharavi redevelopment project. However, it seems difficult for the State to get any financial aid from MHADA, since different workers’ associations have come forward to protest concerning their salary payments. According to the workers’ association, if the housing authority pays Rs 800 crore to the State, then it will be difficult to pay salaries of the 2,500 MHADA workers. Besides, MHADA has already lost the case of Rs 1,800 crore against the Income Tax department, and…

Mumbai: 11 Metro lines to be operational by 2024-end
April 13, 2019

Close to 11 metros corridors have been planned to be completed in the Mumbai Metropolitan Region (MMR) by the 2024-end. As per the Mumbai Metropolitan Region Development Authority’s (MMRDA) status report in March 2019, trials for three metro links, Metro 2B (DN Nagar to Mandale), Metro 4 (Wadala-Thane-Kasarvadavali) and Metro 6 (Swami Samarth Nagar-Vikhroli) are expected to commence from December 2021. Phase 1 of the entirely underground Metro 3 (Colaba-Bandra-Seepz)  is also expected to become operational in 2021. The first phase includes the stretch from Seepz to the Bandra Kurla Complex. Additionally, Metro 10 and 11, planned between Gaimukh and…

Mumbai: Small builders resort to JVs to finish their ongoing projects
April 13, 2019

In the backdrop of the ongoing liquidity crunch, realtors in Mumbai are jostling big time to complete their realty projects. The financial crisis has hit so hard that many developers are either entering into slum rehabilitation projects or looking forward to alliances with reputed players to complete their ongoing projects. Close to 70 projects of more than a dozen financially stressed builders in the city are waiting to be either acquired by larger developers or to be jointly developed. According to an industry report, around 1.92 lakh housing units launched in 2013 or before, pegged at Rs 2.18 crore are…

MahaRERA begins hearing complaints through video conferencing
April 12, 2019

In a first, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has initiated the use of video conferencing on a pilot basis to hear complaints filed by the buyers against errant developers. The facility has been introduced at MahaRERA’s Aundh office where complainants can raise their problems with the regulatory authority. According to a MahaRERA official, video conferencing facility will help complainants save time since they would not be required to travel to Mumbai. The State regulator is also planning to introduce the complaint redressal forum at Nagpur. The authority heard nearly 12 cases through video conferencing on the first day.…

Cement gets expensive in Mumbai and Delhi
April 10, 2019

An uptick in demand for construction material from rural areas has led to a hike in cement prices in Delhi and Mumbai. According to cement dealers, renowned cement brands have increased the cost of a cement bag by Rs 25-30. With a surge in price, a 50 kg cement bag of a tier-1 cement brand in Mumbai and Delhi is now selling at Rs 345-350 while other brands are selling it at Rs 310-315. Robust rural demand and increasing input costs (raw-materials, transportation and electricity) are said to be the major factors that have led to a spike in cement…

Ready inventory worth Rs 4,000-crore available in Mumbai
April 10, 2019

It has been noted that South and South-Central Mumbai currently have ready to move-in luxury properties worth Rs 4,000 crore as against inventory recorded in 2018. Also, luxury residential projects costing Rs 75,000 crore in premium locations of Mumbai are running behind their scheduled completion date by up to seven years. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has prompted developers of these projects to revise their completion deadlines. Statistics reveal that faster execution of projects in the last one year has been the key reason behind the increase in ready inventory in Mumbai. Prominent areas such as Mahalaxmi, Prabhadevi,…

Mumbai: Colaba-Seepz Metro hits roadblock
April 9, 2019

To expedite the construction of the Colaba-Seepz underground metro corridor, the Maharashtra Metro Rail Corporation (MMRC) has managed to vacate 28 buildings on the stretch of the project. However, residents of two buildings in the Girgaum-Kalbadevi belt have denied vacating their houses as the authorities have changed the 'in situ rehabilitation plan' offered to them earlier. Residents have shared that the MMRC has now decided to provide the rehab buildings at Kamaniwadi in Chira Bazaar, 700m away from the original site. The new site is close to Chandanwadi crematorium. ‘Earlier, we were promised to get rehab flats on the site…

MAHAmetro receives 8.2 acres of defence land
April 7, 2019

The defence estates of Pune has handed over 8.2 acres of army land to the Maharashtra Metro Rail Corporation Limited (MAHAmetro) to expedite the development of the 16.59 km-long Line I of Pune Metro from Pimpri to Swargate. The land is located in the Range Hills area within the Khadki Cantonment Limits. The transfer has been made on an ‘as-is-where-is’ basis for the development of station facilities and parking, and hassle-free execution of the Pune Metro rail project. According to an official of the MAHAmetro, “Essential inventory has already been moved to the site, and the work on the viaduct and…

MahaRERA: Empower homebuyers to revive the stalled projects
April 7, 2019

According to the industry data, in the last two years, Maharashtra Real Estate Regulatory Authority (MahaRERA) had issued recovery warrants against 176 builders in the State but managed to get the refund from only one developer. In Mumbai alone, there are scores of cases wherein homebuyers have been waiting for reimbursements for over 15 months since developers have either appealed against the recovery warrants or have asked for an extension. Gautam Chatterjee, Chairperson, MahaRERA, avers that the piling up of 176 warrants is true, but it is a small number in comparison to the 4,000 cases which the MahaRERA has…

Delay in construction of Roadpali Junction troubles commuters
April 6, 2019

The delay in the development of the Taloja Link Road that connects Old Mumbai Highway with Sion-Panvel Highway at Roadpali  has left hundreds of motorists inconvenienced. The construction work on the stretch started in December 2018 and was scheduled for completion within three months.  However, the project has been halted for over a month. By far, only 50 percent of the renovation work is complete, which has enormously added to the commuters’ agony. According to RP Patil, Deputy Engineer, Public Works Department (PWD), the focus is on lane-wise construction to avoid vehicular congestion at the Junction. However, despite the odds,…

Mumbai: Railway authorities to raze 32 foot over bridges
April 3, 2019

In Mumbai, the Western Railway authorities will dismantle as many as 32 foot over bridges (FOBs) in the suburban railway network between Virar and Churchgate over the next year. The news comes following the collapse of Chhatrapati Shivaji Maharaj Terminus (CSMT) FOB in March, 2019 which killed six people and injured 31. The Western Railway (WR) had ordered an audit report of FOBs in the wake of the Gokhale Bridge walkway that collapsed in July 2018. A fresh structural stability audit report suggested demolishing as many as 32 bridges in different phases. Two of the FOBs — one in Santa…

Maharashtra plans dual corridor at Targhar station to connect airport
April 1, 2019

The Maharashtra government is planning to connect vehicular traffic coming from South Mumbai to the upcoming Navi Mumbai International Airport (NMIA) through the 1.2-km-long arm of the Mumbai Trans Harbour Link (MTHL) coastal road. The corridor will further link commuters from the forthcoming Targhar railway station on the Nerul-Uran rail stretch via the proposed sky train. According to a City and Industrial Development Corporation (CIDCO) official, the planning agency has already reserved space and the final decision on the train connect (sky train or monorail) will be taken later. The sky train will provide last-mile connectivity to flyers using metro…

Mumbai emerges as the most affordable realty market globally: Report
March 30, 2019

According to Knight Frank’s report, Urban Futures, Mumbai has emerged as the most affordable real estate destination amidst its global peers. Key factors that have contributed to this trend include increased household income against almost stable real estate prices, compact-sized homes and availability of affordable housing. It is estimated that the annual household income in Mumbai grew to 20.4 percent between 2014 and 2018, whereas the housing prices have surged only by eight percent, making residential real estate relatively affordable than the global realty hotspots. Housing sizes have also shrunk by 25 percent in newly launched units between 2014 and…

Mumbai: Reconstruction of overbridge at Marine Lines gets delayed
March 29, 2019

The reconstruction of a foot overbridge (FOB) at Marine Lines has hit a hurdle. Recently, the Brihanmumbai Municipal Corporation (BMC) has identified that a cable supplying power to the nearby railway station passes below the selected site. The cable is connected to the station’s signalling system. BMC officials have noticed the cable after the demolition of the old FOB. The reconstruction of overbridge would affect the power supply of the Marine Lines station as well as the signalling system. This is causing a delay in the proposed work as the civic body had set to finish the reconstruction project by…

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