Floor space index (FSI)
The Confederation of Real Estate Developers Associations of India (CREDAI) has put forward a plan to the Prime Minister to enable reforms in the real estate sector and help rejuvenate it. Home sales registrations continued to decline in the first half of 2012, although by only 3.4 per cent when compared to the same time [...] Continue Reading »
Turning down a demand that builders be allowed to get additional floor space index (FSI) by paying premium in redeveloping old Mhada buildings in the city, Chief Minister Prithviraj Chavan said they would have to share housing stock with Mhada in redeveloped buildings. Chavan said that a meeting of local legislators would be held after [...] Continue Reading »
The rocketing prices of properties in Chennai has made property buying a distant dream for the lower and middle class population in Chennai. Follow up to this not many of them are interested to invest on property with hiking rates. Therefore, to balance the real estate market in Chennai city, the state government has announced additional floor [...] Continue Reading »
The government of Mumbai has introduced the new development control regulations for the properties in Mumbai. According to the new Floor Space Index (FSI) calculation, the balcony, flower beds, ducts, car decks, etc. will not be included in the salable floor area. However according to builders association this decision will increase the cost of the [...] Continue Reading »
As the rate of service tax and excise duty has been increased in the budget, the property price in India may not reduce in near future. According to a report, the amendments made by Development Control Regulations (DCR) will increase the project construction costs for builders. The modified rule have revised the calculation of the [...] Continue Reading »
Rs-320 crore property deal for one-storey bungalow owned by Jindal’s Windsor Residency on Carmichael Road in Mumbai fell down drastically. It has been learnt that Ajay Mittal of Arshiya International who was in a pace of buying Jindal’s property felt that the price offered was higher than the current market value. However, when media contacted [...] Continue Reading »
State expert appraisal committee (SEAC) has been delaying green clearances and this has brought a down feel in the Maharashtra Chamber of Housing Industry (MCHI), Mumbai. Therefore MCHI has put up the issue in front of the Union environment minister Jayanti Natrajan to get the case solved. The discussion of same issue happened at the [...] Continue Reading »
