Maharashtra withholds development of three plots under PMAY
October 20, 2017

The Maharashtra Housing and Area Development Authority (MHADA) has decided to withdraw clearance of three sites out of 14 approved sites for the development of affordable housing projects under the Pradhan Mantri Awas Yojana (PMAY) in Mumbai Metropolitan Region (MMR). The move was made as these three land sites are reserved for other purposes and cannot be used for constructing affordable houses. These three land sites include: a) Juchandra village in Vasai taluka of Palghar district b) an 11 acre plot at Khalapur in Raigad district to build 2,600 houses c) a four acre plot at Pen to construct 1,100…

MahaRERA authority: Delayed project handover cases surge
October 18, 2017

According to a MahaRERA official, delay in possession of property, misleading disclosure by builders and agreements not following MahaRERA format form a major chunk of all the complaints received under MahaRERA. It is to be noted that Maharashtra was the first state to notify RERA rules and establish MahaRERA. As per an analysis report prepared with MahaRERA officials, out of more than 600 complaints received in the last five months, nearly 60 were uploaded on the website. The report further stated that complaints filed with MahaRERA are either withdrawn or settled by parties with directions from the authority. Penalty on…

Maharashtra govt adds 232 cities to PMAY scheme
October 16, 2017

A total of 373 cities in Maharashtra will now fall under the Pradhan Mantri Awas Yojana (PMAY) scheme after an announcement was made by the state government to include additional 232 cities apart from the existing 142 cities across the state. Experts have hailed the move and anticipate speedy construction of affordable housing projects under the PMAY initiative in Maharashtra. In the recent past, the state government had proposed the inclusion of the Slum Rehabilitation Authority (SRA) scheme under the PMAY initiative to ensure subsidy for such housing projects to boost their demand. Several initiatives to make amendments in the…

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Eight organizations to receive 2017 Greenbuild Leadership Awards
October 12, 2017

Eight organizations to receive 2017 Greenbuild Leadership Awards12th Oct 2017 U.S. Green Building Council (USGBC) declared the names of eight organisations which are to be bestowed with the 2017 Greenbuild Leadership Awards. The award ceremony, which is to be held at the inaugural Greenbuild India Conference and Exposition on November 3, is being conducted for the first time in India. This function will recognize organisations spearheading the green building movement.

MahaRERA directs two developers to refund buyers at MCLR rates
October 10, 2017

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed two developers to refund the invested amount by homebuyers at two percent higher than State Bank of India’s highest prevailing Marginal Cost of Lending Rate (MCLR) for the delay in handing over the possession of their flats. The penalty is prescribed in section 18 of the Real Estate (Regulation and Development) Act (RERA) rules. Homebuyers filed their complaints against the developers to the regulatory authority on delayed possession. MahaRERA has stated that the developer is liable to hand over the possession of the flat to the complainant before the period mutually…

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Sumer Group wins laurels in India’s Greatest Brands & Leaders 2016-17 award ceremony
October 10, 2017

Sumer Group wins laurels in India’s Greatest Brands & Leaders 2016-17 award ceremony10th Oct 2017 Mumbai-based developer, Sumer Group received the title of India’s Greatest Brand 2017 - Pride of the Nation by Asia One Magazine and United Research Media Consulting for its contribution in real estate. CEO Rahul Shah dedicated the award to the clientele, stakeholders and well-wishers. The group has delivered 30 million sq ft of commercial and residential space in Alibaug, Goa, Indore and Mumbai, till date. 

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IGBC launches green rating systems for affordable homes
October 7, 2017

IGBC launches green rating systems for affordable homes7th Oct 2017 The Green Building Congress 2017 witnessed the launch of innovative green rating systems for existing cities, affordable housing and interior design projects. The Indian Green Building Council (IGBC) introduced this first-of-its-kind system with the aim of creating directives for brownfield cities which are a part of the Centre’s Smart/AMRUT Cities initiative.

Maharashtra farmers to establish first industrial colony in the state
October 1, 2017

In Maharashtra, a group of farmers have decided to set up the state's first industrial colony as per the guidelines set by the Maharashtra Industrial Development Corporation (MIDC). MIDC is a state government undertaking, involved in providing businesses with infrastructure such as land, roads, water supply, drainage facilities and street lights. Spread over 30 acres, the project is expected to be over by the end of December 2017. The project has already been registered with the industries department as 'Swabhimani Audyogik Sahakari MIDC. Forty farmers from Nandni village in Shirol tehsil of Kolhapur district are members of the project. The…

Mumbai Grahak Panchayat seeks amendments in RERA rules
October 1, 2017

The Mumbai Grahak Panchayat (MGP) has raised concerns seeking amendment to the Real Estate (Regulation and Development) Act (RERA) to enable registration of ongoing projects without sanctioned plans and commencement certificates. They have written to the state's Housing and Poverty Alleviation Ministry in this regard. It has been observed that many projects without these sanctions cannot be registered with the regulatory authority. MahaRERA authorities have stated that they do not register such projects as the Act defines no such provision. In this case, the purpose of implementing the new real estate Act is not achieved.  However, Maharashtra government was among…

Navi Mumbai & Mohali ranked as top emerging cities: Report
September 29, 2017

According to a recent study by JLL, Palava City and Navi Mumbai in Maharashtra are the top two liveable emerging cities in the country. The report has evaluated 10 emerging cities across the country, including Mohali in Punjab, Mahindra World City township in Chennai, Pimpri Chinchwad in Pune, Rajarhat in Kolkata, Technopark in Thiruvananthapuram, Magarpatta City in Pune, Greater Noida, and Manesar. All these 10 cities were evaluated on the grounds of townships built by private developers, administration practices, sustainability, and overall livability. The selected 10 cities have been are ranked on these parameters - planning, connectivity, utilities and daily…

Maharashtra recommends Centre to include SRA scheme under PMAY
September 27, 2017

With an aim to create surplus affordable housing stock, the Maharashtra government has suggested to bring the state's Slum Rehabilitation Authority (SRA) scheme under the central government initiative, Pradhan Mantri Awas Yojna (PMAY) at a summit organised by National Real Estate Development Council (NAREDCO). The benefit of bringing SRA under PMAY is to ensure subsidy for these projects thus, converting the saleable stock to affordable stock. While Hardeep Singh Puri, Union Minister of State for Housing and Urban Affairs has already given an in-principle approval for the proposal, the state government hopes that their demand will be evaluated. The Maharashtra…

MahaRERA commissions revenue tribunal to address RERA appeals
September 27, 2017

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has commissioned the state’s revenue tribunal to hear all the appeals pertaining to MahaRERA following a delay in setting up of an appellate tribunal. An official notification for the same is anticipated to be out within the next eight days. According to the central Real Estate (Regulation and Development) Act (RERA), it is mandatory for the state governments to form a RERA authority along with an appellate tribunal by April 30, 2017. Although, the state’s regulatory authority has been formed, the tribunal is yet to be set up. Despite the delay, MahaRERA has…

MahaRERA: About 13,300 projects registered
September 22, 2017

Around 13,400 applications have been submitted to the Maharashtra Real Estate Regulatory Authority (MahaRERA) for the registration of projects under the Real Estate (Regulation and Development) Act (RERA). According to officials, about 13,300 projects have already been approved and granted registration numbers. With this, most of the ongoing realty projects in the state have registered with the Authority, informs Gautam Chatterjee, Chairman, MahaRERA. Out of 13,400 applications submitted for registration, over 400 applications were for new real estate projects and the remaining were for under-construction projects across the state. Officials share that MahaRERA has received 232 complaints against developers of…

Maharashtra removes OC requirement for land transfer to housing societies
September 20, 2017

Maharashtra government has made it easier for housing societies to own the land they are located on by doing away with the need for occupation certificates (OC) for such conveyance. This will allow homeowners to bypass the developer by seeking transfer of land ownership. Currently, eight documents are needed to get the request for land transfer in the favour of society members approved. Experts point out that about majority of housing societies in the state find it hard to own the land due to strict conditions. As a result, developers exploit the land by selling open parking areas, setting up…

Maharashtra to kick-start infra projects worth Rs 1 lakh crore in 2017
September 19, 2017

Maharashtra Chief Minister Devendra Fadnavis recently announced the state government’s intention to commence work on several massive infrastructure projects in 2017. While Fadnavis did not elaborate on the projects, this announcement was enough to raise realty stakeholders’ hopes for the state. Fadnavis explained that the state has planned infrastructure projects worth a total of Rs 5.96 lakh crore, of which projects worth Rs 1 lakh crore will be kick-started this year itself. It should be noted that the state’s focus on infrastructure creation earned it laurels from the NITI Aayog. It should be noted that Maharashtra government is also working…

Maharashtra RERA to set up arbitration panel to resolve complaints
September 18, 2017

Maharashtra government has proposed to establish an arbitration panel under the Real Estate (Regulation and Development) Act (RERA) to handle real estate complaints. The panel will help resolve disputes between builders and builders without escalating the issue to the Maharashtra Real Estate Regulatory Authority (MahaRERA). In case the matter is not resolved by the proposed arbitration committee, either party can challenge it and file a complaint with MahaRERA. Gautam Chatterjee, Chairman, Maharashtra RERA, has informed that the panel would become operational in the next three months. Experts have welcomed the move as most of the common disputes tend to be…

April-August 2017 saw property registrations in Maharashtra growing by 28%
September 16, 2017

As per the Inspector General of Registration and Controller of Stamps (IGR) department, property registrations in Maharashtra in the first five months of the financial year 2017-18 registered a 28 percent hike as compared to the last year. About 2,58,051 property registrations were recorded in April-August 2017 as against 2,01,764 property registrations reported during the same period in the last financial year. Experts state that the implementation of the Real Estate (Regulation and Development) Act (RERA) was the primary reason for the increase in registration numbers. Jaxay Shah, Presient, Confederation of Real Estate Developers' Associations of India (CREDAI), has stated…

Website for RERA registration in Daman & Diu, Dadra & Nagar Haveli launched
September 14, 2017

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently launched a separate website for registration of ongoing real estate projects in Daman & Diu and Dadra & Nagar Haveli. This portal will allow developers to register themselves and their projects under the Real Estate (Regulation and Development) Act (RERA). It should be noted MahaRERA has been given the responsibility of handling all issues pertaining to real estate activities under the Act in both these Union Territories (UT). Realty developers and agents in these UTs can now conduct registrations online, saving a lot of time and effort. As of now, no…

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