Builders
A bunch of petitions were dismissed by the Bombay High Court as the petitions challenged the state government’s decision to levy the builders with a 5% Value Added Tax (VAT) on buildings which were under construction from 2006 to 2010. This rule was declared a day before the tax payment deadline. Justice Dhananjay Chandrachud and Justice Rajesh [...] Continue Reading »
Confederation of Real Estate Developers Association of India (CREDAI) has called for the one per cent norm related to VAT payment to be adopted for the retrospective period between 2006 and 2010. The issue is pending with the Supreme Court, which had issued an interim order asking that the VAT on properties sold between the [...] Continue Reading »
Residents of Kumar Elixir Society on Baner road allege that Kumar Builders is trying to sell a plot which is a part of the society, however the conveyance agreement was never executed. The flat owners have filed an application with the Chatushrungi police station asking not to allow anyone to take the land that belongs [...] Continue Reading »
The builders have expressed their displeasure over the delay they have to face while getting environmental clearance. Developers body, Confederation of Real Estate Developers’ Associations of India (CREDAI), says that the environment clearance delays projects by almost two years. While developers’ body is pushing for a practical approach by the environment ministry, so that the [...] Continue Reading »
Some Juhu citizens have been fighting to save their area from being flooded. The crisis came up after the civic storm water drains (SWD) department allowed a developer to cover and build a recreation ground on top of a section of Irla and Koldongri nullahs. NGOs have joined hands with the residents in their protests [...] Continue Reading »
The new leasehold policy announced by the government have not gone down well with the developers. Builders are of the opinion that the hike in lease rates, announced in the new leasehold policy, will affect the monthly rents paid by tenants who occupy old buildings. The builders say that the policy will also further drag [...] Continue Reading »
In the ongoing series of discussions to provide relief to real estate sector, developers have asked for relaxation of funding norms. Deliberation between Indian Bankers Association (IBA) and Confederation of Real Estate Developers Association of India (CREDAI) saw developers called for the easing of financing norms to ease the cash crunch of the developers. The [...] Continue Reading »
Faced with sluggish sales and rising cost of production, builders across the country are increasingly turning to technology, looking to innovative ways in construction business. The cost of building materials such as cement and steel has risen by 35-40 per cent over the past two years. Added to it, the labour rates have also got [...] Continue Reading »
The festive season fails to cheer builders of Mangalore. Karnataka State Pollution Control Board (KSPCB) have sent closure notices on crusher units in the state following a Supreme Court directive. As a result, construction and development activities have come to a halt. Of the 3,700 crusher units units across Karnataka, 200 units are in the [...] Continue Reading »
In order to showcase properties across Nashik under one umbrella and provide buyers the opportunity to purchase real estate in Nashik, the Confederation of Real Estate Developers’ Association of India (CREDAI) has planned a real estate expo in the city. The realty expo – ‘Shelter’ will be organised in the city from December 20-23. CREDAI [...] Continue Reading »
