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Maharashtra

Townships for senior citizens growing

Townships for senior citizens growing
To cater to the needs of senior citizens, who want to live a comfortable retired life, exclusive townships for senior citizens are coming up in various places. One such township is at Neral, at the foothills of Matheran, Maharashtra, which provides comfortable living experiences along with amenities. Similarly, Athashri, a project of Paranjape Schemes in [...] Continue Reading »

Maharashtra CM assures realtors to address concerns within 45 days

Maharashtra CM assures realtors to address concerns within 45 days
Faced with criticism that the Maharashtra government has been stifling the growth of real estate in the state, chief minister Prithviraj Chavan assured the Maharashtra Chamber of Housing Industry (MCHI) that its concerns would be addressed within 45 days. MCHI had raised several issues during a presentation. It claimed that these issues are hampering real [...] Continue Reading »

Amravati Municipal Corporation holds general body meeting

Amravati Municipal Corporation holds general body meeting
Amravati Municipal Corporation (AMC) held its general body meeting in which key decisions were taken regarding industrial incentives and Below Poverty Line (BPL) facilities. AMC is planning to give concession on local body tax (LBT) and house tax to the industries in the Maharashtra Industrial Development Corporation (MIDC). In the general body meeting, decision has [...] Continue Reading »

Committee formed to calculate VAT in Maharashtra

Committee formed to calculate VAT in Maharashtra
The confusion over VAT payable by the builders and buyers in Maharashtra is being handled carefully by the state government and  builders alike. The Maharashtra Chamber of Housing Industry (MCHI)-Confederation of Real Estate Developers’ Associations of India (CREDAI) has set up a four-member committee to look for the best option for developers to compute Value [...] Continue Reading »

Refund of additional VAT promised by Maharashtra sales tax department

Refund of additional VAT promised by Maharashtra sales tax department
The state sales tax department of Maharashtra has insisted that the payable value added tax (VAT) is much less than three per cent. This has put buyers who purchased flats between 2006 and 2010 and had paid money, in a fix as to how to recover the additional amount paid. Till now, there has been [...] Continue Reading »

Developers finding it hard to collect VAT in Maharashtra

Developers finding it hard to collect VAT in Maharashtra
Real estate companies in Maharashtra are facing a stern directive from Supreme Court to clear value added tax dues by the end of October. As a result, most of them are almost turning into collection agents, as they have to rush to comply with the Supreme Court directive. Any body who bought a home in [...] Continue Reading »

Real estate companies take a hit at BSE as shares drop

Real estate companies take a hit at BSE as shares drop
Indian real estate companies seem to take a hit due to imposition of VAT in Maharashtra. The shares of most big players dropped for a second day as confusion kept arousing about who would end up paying a proposed retrospective value-added-tax(VAT) from the state of Maharashtra. The drop was caused by worries about a stringent [...] Continue Reading »

CAs urge to levy 1% VAT in Maharashtra

CAs urge to levy 1% VAT in Maharashtra
The Bombay Chartered Accountants Society (BCAS) has urged the state government to levy a uniform one per cent tax on buyers who purchased flats between 2006 and 2010, and those after 2010. The sales tax department and developers are yet to arrive at a mutual agreement over the quantum of Value-Added Tax (VAT) leviable, the [...] Continue Reading »

Commercial real estate growing in Navi Mumbai

Commercial real estate growing in Navi Mumbai
The commercial real estate scenario at Navi Mumbai is robust. Companies have gravitated to Navi Mumbai owing to reasonably priced real estate and well laid out city. Most software companies in Maharashtra have their offices at Navi Mumbai. IT/ ITeS and IT SEZ companies such as Wipro, Capgemini, WNS, CTS, iGate (Patni), etc have their [...] Continue Reading »

Developers apprehensive of regulatory bill

Developers apprehensive of regulatory bill
Developers in Maharashtra seem to be apprehensive of the regulatory measures proposed by the state and central government. As the developers already have disclosed their presentiment about the state government’s housing regulatory bill, the presentiment deepens as the centre is now set to introduce its own regulatory authority for the real estate sector. Maharashtra Chamber [...] Continue Reading »



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