Maharashtra government
Over four lakh flat owners in Maharashtra, who had bought properties between June 20, 2006 and March 31, 2010, may have to pay Value Added Tax (VAT) to the state government. As the state government plans to recover VAT, a trade circular is issued by the Maharashtra sales tax commissioner on August 6. The tax [...] Continue Reading »
Mumbai property market is experiencing hard times from past one year and adding to it the Mumbai Development Control Regulations or DCR guidelines, doled out five months back. Developers and consumers are furious against the enactment of the new guidelines. The Maharashtra government had amended the DCR regulations in February this year to bring more [...] Continue Reading »
The draconian Urban Land Ceiling (Regulation) Act (ULCRA) was scrapped by the Maharashtra government four years ago, which still continues to be a bitter issue between the state and builders. Though nearly forty notices were issued from past one year by the state urban development department to return the tenements to government, many developers challenged [...] Continue Reading »
The Maharashtra government has conceded that the recent raids conducted by state anti-corruption bureau (ACB) at the octroi check posts have resulted in a rise in revenue. Octroi being the highest sources of revenue for the corporation, which adds approximately Rs 4,500 to its fund, is also a source of revenue theft as a large [...] Continue Reading »
The high power expert committee (HPEC) in its report to the union government has recommended that the property tax system in the country should be rationalized. Property tax should be retained as a general benefit tax, and its components such as water tax and sewerage tax should be replaced by appropriate ‘user charges’, recommended the committee. It also recommended [...] Continue Reading »
The Maharashtra government has given the green signal for the state’s second Metro rail project in Pune after Mumbai. An official of Maharashtra government said that in the first phase, it will connect Ramwadi-Wanaz on an elevated track at a cost of Rs 2,593 crore. Thereafter, in the second phase, around 44 km long, and [...] Continue Reading »
Maharashtra Government asked the Bombay Dyeing Mill to stop the construction of a commercial complex in Prabhadevi area of Mumbai. In the order the authority also asked them to close the eight looms which are functioning at that place. The government asked them to stop the construction work as the group was constructing a commercial [...] Continue Reading »
The Maharashtra government has planned to initiate Urban Malnutrition Mission from next month. As the non governmental organizations have pointed out the fact that adequate health service is not available in the apartments in urban Maharashtra, the government has decided to promote the health service at the places. The infant mortality rate has been recorded [...] Continue Reading »
Higher construction costs? again? None is aware as to why the property prices are hitting sky high! Recently, the Maharashtra government has called of for revision of Development Control Regulations (DCR) to increase transparency in real estate transactions. So, all the home buyers especially in Mumbai get, set and ready to shell out more money [...] Continue Reading »
The Maharashtra government recently passed on orders in concern with the mandatory payments of the premium floor space index (FSI) rates. Even there is a major drop down in realty sales, some of the developers across states are still holding back their properties without compromising for less deal. However, these FSI extra payments is sure [...] Continue Reading »
