Mumbai
In the BMC’s (Bombay Municipal Corporation) standing committee, meeting proposals of worth Rs 3000 crore, or 10 percent of its annual budget were passed by the authority in the last 4 days. This is close to 40 percent of the 110 tenders approved on the agenda. According to BMC, cost of 75 percent proposals are [...] Continue Reading »
The 3,000 sq ft apartment in Maker Towers B was put up for auction following insolvency proceedings against a city businessman who owned the flat that sold for Rs 1.01 lakh per sq ft. The prominent businessman outbid others at a public auction in the Bombay high court on Tuesday with his offer of Rs [...] Continue Reading »
Maharashtra, Congress-NCP government has already gone into the election mode. On Friday the traditional vote bank, the government will bring in bill, in a serious bid to despair slum dwellers with a proposal to regularize nearly 400,000 illegal slums in Mumbai and rest of Maharashtra. The government proposes to extend the earlier cut off date [...] Continue Reading »
Just days before the Election Commission’s code of conduct come into effect, the state government has gone all out with the programme to attract votes. It plans to implement infrastructure projects that are bound to improve the transportation network in Mumbai. The various projects being floated include: Mumbai Metropolitan Region Development Authority’s (MMRDA) tenders for an elevated [...] Continue Reading »
The state will now extend guarantee to the finances for the project, as the cabinet guide the way. 57% loan of the total project cost will be extended by Japanese International Cooperation Agency. A joint body of Central as well as state government has been formed, as special purpose vehicle (SPV), to take the Rs [...] Continue Reading »
The state government has asked for a legal opinion whether a review petition against the recent Supreme Court order of removing the “private forest” tag attached to huge swathes of land across the state, should be filed. The ruling has brought relief to at least five lakh residents and builders linked to hundreds of acres [...] Continue Reading »
Maharashtra government’s decision to extend the cut-off date by five years to January 1, 2000, from the earlier January 1, 1995, may help speed up execution of slum re-development projects but the real estate developers are not completely satisfied and want more. CREDAI chairman, Mr. Lalit Kumar Jain says, “To some extent, this scheme will [...] Continue Reading »
Niranjan Hiranandani, the real estate tycoon who created the eponymous enclave in Mumbai’s Powai area is fighting with his daughter Priya Vandrevala, a self-confessed rebel, for a property worth at least Rs. 3,000 crore. Hiranandani and his son Darshan last month fired latest round, when they moved to the Bombay High Court to restrain Priya’s company, Hiranandani Living, [...] Continue Reading »
Builders will be registered for redevelopment projects based on their track records, financial strength and project experience judged in various categories before assigning redevelopment projects by The Maharashtra Housing and Area Development Authority (MHADA). The verdict has been made with several redevelopment projects of MHADA colonies being stuck for years due to developers deserting them [...] Continue Reading »
Maharashtra Housing and Area Development Authority (MHADA) has kept aside about 84 low-cost homes in Powai being built for the higher-income group (HIG) which had been set up with the intention of providing affordable housing for the public. The purchase price of these flats is well over a crore. The Authority is considering to allot [...] Continue Reading »
