Navi Mumbai civic body breaches RERA rules; consumer body demands action
August 15, 2018

India’s largest voluntary consumer organisation - Mumbai Grakah Panchayat (MGP) has recently lodged a complaint with the MahaRERA, against the Navi Mumbai town planning authority, City and Industrial Development Corporation (CIDCO), for violating RERA rules. The consumer body alleged that the town planning authority advertised 11 real estate projects without registering them with the State regulator and did not mention the registration numbers of already registered projects on the advertisements. In a letter written to MahaRera Chief, Gautam Chatterjee, the MGP stated that of the 11 unregistered projects that were advertised and marketed on its website, only two Ghansoli-based projects…

Construction on Lokhandwala-Kanjurmarg metro route to begin by Dec 2018
August 14, 2018

The construction work on the 14.47 km-long Lokhandwala-Jogeshwari-Kanjurmarg stretch (Metro 6) is likely to commence by the December-end 2018. The Delhi Metro Rail Corporation (DMRC), which is executing the project on behalf of the Mumbai Metropolitan Region Development Authority (MMRDA), has already awarded the civil construction contract to J Kumar Infra Projects Ltd for the development of five stations and a viaduct. The project will be executed in three phases. In the first stage, a section of the corridor between Samarth Nagar in Lokhandwala and Mahakali Caves in Andheri East will be developed at a cost of Rs 867 crore.…

Navi Mumbai freehold land can be ‘owned’ for 90 years now
August 13, 2018

The Maharashtra State government has given the nod to the long pending demand of Navi Mumbai residents to convert their leased land holdings into freehold. The move is anticipated to benefit around five lakh families living across 344 sq km in Navi Mumbai. As per the new initiative, the lease-holders can pay a 30 percent premium on the ready reckoner price and purchase the land for 90 years. An official from the Chief Minister's office shared that it was essential to retain the government’s hold on the land, and hence they decided to offer the benefits of freehold land by…

BRTS to commence on Pune-Mumbai Highway
August 13, 2018

The Bombay High Court has granted the permission to start the Bus Rapid Transit System( BRTS) along the Pune-Mumbai highway. Eknath Pawar, Pimpri Chinchwad Municipal Corporation’s leader, shared that they will carry out minor repairs like fixing the damaged barricades and repainting of signage before the BRTS route is thrown open to the public. The project is expected to ease daily travel between Mumbai and Pune.   The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) is authorised to deploy traffic wardens at chows, merging points and pedestrian crossings. Necessary infrastructure has already been created on the route by PCMC. Earlier, the…

Mumbai: Construction norms eased near Arthur Road prison
August 12, 2018

In a first, the Maharashtra government has mitigated the earlier stringent norms on constructing structures around the Arthur Road jail. Under the present norms, construction activities were not allowed within 150 m radius of the prison boundary; however, the new rules will prohibit building activity within 20 m radius of the jail. The State will appoint an advisory committee in this regard that will assess ‘security factors’ before clearing the building proposals planned within a radius of 500 m of the jail. An official notification is likely to be issued soon. As per a town planning expert, the new norms…

MahaRERA to tackle complaints of unregistered projects: Bombay HC
August 12, 2018

The Maharashtra Real Estate Regulatory Authority (MahaRERA), which was implemented in the State on May 1 last year, has been granted the power to tackle consumer complaints by the Bombay High Court (HC). The two directives have been welcomed by the sector that has lost consumer confidence in the last few years. The division bench of HC, constituting Justice VM Deshpande and Justice RM Borde in its July 31, 2018 order, made the regulatory authority responsible for handling complaints pertaining to unregistered real estate projects. As per the previous guidelines, the authority was allowed to intervene only in projects registered…

Maharashtra urges builders to sell half of PMAY houses at RR rate
August 6, 2018

The Maharashtra government has urged builders who are undertaking projects under Pradhan Mantri Awas Yojana (PMAY) to market or sell 50 percent of the PMAY homes at the Ready Reckoner (RR) rate. The remaining constructed flats, 50 percent, can be sold at the market price. Putting houses developed under PMAY at the market rate will make them cheaper than flats under the MHADA affordable housing scheme. Officials have stated that the State government had offered the incentive of extra Floor Space Index (FSI) of 4 to increase developers' participation to develop affordable houses under PMAY. Against this incentive offered, developers…

Flat owners in Mumbai to pay extra stamp duty
August 1, 2018

In Mumbai Metropolitan Region (MMR), all homebuyers will now be charged with extra stamp duty. Officials have shared that buyers who had registered their properties between May and September 2017 will have to shell additional stamp duty charges. The stamp duty rates in MMR region including Mumbai city, Thane, Palghar and Raigad is 2.5 percent of the ready reckoner rates (RRR). Officials have informed that the stamp duty collected against the registered properties during the period (May-Spet 2017) had been charged as per the ready reckoner rates of 2016. The Maharashtra government has approved revised stamp duty rates and asked…

Mumbai to construct test track for hyperloop infrastructure
July 31, 2018

According to Maharashtra Chief Minister, Devendra Fadnavis, construction of the 15 km-long test track for the Mumbai-Pune hyperloop is set to commence by the end of 2018. The government also plans to run the first hyperloop by 2024 which will reduce the travel time between Mumbai and Pune to 20 minutes. As per an Officer on Special Duty to Fadnavis, the CM office is carefully supervising the project and it would not take much time to build due to the simple construction technique involved. However, a regulatory framework cutting across different ministries needs to be put in place which is…

Maharashtra proposes 1 percent surcharge on Stamp Duty
July 31, 2018

The State government’s proposal to impose one percent surcharge on stamp duty will hamper buyer sentiment and act as a hindrance for realty sales, particularly in the affordable housing segment. The announcement comes at a time when Mumbai Metropolitan Region’s (MMR’s) real estate market is showing signs of recovery. Recently, a draft of the proposals was published by the State in the Brihanmumbai Municipal Corporation (Second Amendment) Act. Under the proposal, the government plans to collect one percent additional surcharge on the prevailing stamp duty of five percent on lease, sale, gift and mortgage of immovable assets. Levying surcharge on…

Mumbai residents opt for self-redevelopment
July 30, 2018

Lacking trust in developers, residents in Mumbai have chosen to get their societies redeveloped themselves. Two such projects - Shatabdi society at Kannamwar Nagar, Vikhroli, and Orion society in Charkop – have proposed the Maharashtra Housing and Area Development Authority (MHADA) to approve self-redevelopment. MHADA is considering the proposal, wherein, the financial benefit of constructing a property is enjoyed by the residents, instead of the builder. For the execution of the project, the societies will appoint their architect, contractor and project management consultant. Until now, the authority took 180 days to approve a proposal. They plan to reduce it to 60 days. Societies that have submitted self-redevelopment proposals are situated on the MHADA land and will be granted a…

Government acquires 85 percent land for Nagpur-Mumbai expressway
July 25, 2018

The 701 km-long Nagpur-Mumbai super communication expressway (NMSCE) has inched closer towards its implementation with the Maharashtra State Road Development Corporation (MSRDC) managing to acquire 86 percent land for the same. The MSRDC negotiated directly with the farmers across ten districts and invested five times the market value of the land. A total of Rs 5,326 crore has been disbursed for the project which is worth Rs 46,000 crore. As of now, a total of 10,649 sale deeds have been executed with 20,916 farmers, for the land parcels measuring of 6,115.17 hectares. A notification was issued in November 2017 under…

Construction on Delhi-Mumbai Expressway to begin by Mar 2019
July 20, 2018

The National Highways Authority of India (NHAI) has announced that the construction work on the Delhi-Mumbai expressway is expected to be commenced by March 2019. The Government's flagship highway project will run through several cities including Mewat, Ratlam and Dahod. The Highway will cut the travel time between Delhi and Mumbai to 12 hours only. The Road Transport and Highways Ministry had announced that the expressway will be an alternate route between the two cities passing through underdeveloped cities. The highway project will turn out to be cost-effective, as the new corridor would help save approximately Rs 16,000 crore to…

Mumbai-Pune e-way bypass work to commence in September
July 18, 2018

All major infrastructure projects in Maharashtra to improve road travel to Pune, Goa and Bangalore are expected to commence in September 2018. All these projects are anticipated to become operational by 2022. The proposed infra projects include a six-lane bridge along Vashi bridge to link with the Sion-Panvel Highway and eight-lane tunnels and bridges for the Mumbai-Pune expressway bypass running between Khopoli and Sinhagad institute. Tenders and other legal formalities would be completed in another 4-6 weeks. The construction work will begin in September, shares MSRDC official. The 13-km bypass will ease traffic congestion in the Lonavala ghat section and…

MahaRERA disposes 1900 complaints till date
July 13, 2018

Since the implementation of Real Estate (Regulation and Development) Act (RERA), the Maharashtra government remained the most active State in executing the norms across the State. It has been reported that the Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved a total of 17,032 ongoing projects across the State. The Authority has granted RERA certificates to 15,225 agents. RERA was enacted to bring transparency and accountability to the real estate sector, which can only be achieved if all buyers' complaints are resolved in time. In this arena, MahaRERA has surpassed all other States across the country. Till now, the regulatory…

MahaRERA registers over 16,000 projects in a year
July 12, 2018

In just over a year, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has registered 16,665 projects, the highest by any regulatory authority in the country. Since its implementation in May 2017, the state regulator has received a total of 16,802 applications from builders and developers, of which it has granted registration to 16,665. In the same time frame, it received 14,881 applications from real estate agents across the state, out of which, registration to 14,762 were granted. The regulatory authority also received 2,866 complaints, of which, it has passed orders on 1,637 complaints while hearing for 891 complaints is still…

Maharashtra to develop 1.2 million houses for poor by 2020
July 9, 2018

The Maharashtra government has announced that they will develop about 1.2 million houses for the poor across the State under the Pradhan Mantri Awas Yojana (PMAY) by 2020. Initially, the State government was supposed to complete all houses under the scheme by 2022. Under the PMAY housing mission, the Central Government will shell Rs 1.5 lakh to all people living under below poverty line (BPL) to build pucca houses. As per statistics, about 10 million such beneficiaries have been identified across the country in the Socio-Economic Census (SEC) conducted back in 2011. At the beginning of the mission, each State…

MHADA to offer 7,300 homes through a lottery
July 3, 2018

The Maharashtra Housing and Area Development Authority (MHADA) is offering around 7,300 flats in the Mumbai Metropolitan Region (MMR) under its lottery scheme which is touted to be one of the biggest schemes to be held since the last 6-7 years. The lottery process is anticipated to commence next month and will offer 7,300 houses, of which, around 4,000 are constructed under the Pradhan Mantri Awas Yojana (PMAY). Around 2,000 houses each are situated at Khon near Kalyan and Shirdhon near Panvel, whereas nearly 3,300 homes are have been constructed at Virar. According to Vijay Lahane, Chief Officer, Konkan Division…

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