Maharashtra
The Mill workers in Mumbai city will finally be getting flats! This was promised by Mumbai government long time and it was on hold. However, the government has decided to provide flats to mill workers at reduced and affordable rates. These flats which have been priced Rs. 84,000 and less is built by Maharashtra Housing [...] Continue Reading »
Due to various issues from administration and delays, Confederation of Real Estate Developers’ Association of India (Credai) has decided to send a SOS to the Prime Minister. Real estate sector contributes around 7% of the revenue which comes upto Rs140,000 crore but still the people associated in the sector are facing problems and their appeals [...] Continue Reading »
The unannounced central land acquisition bill is under question before it being tabled. Maharashtra Government is against this land bill as the repair cost of units will be up by at least four times as it is mentioned in the bill. Due to which, the profit gained from the project would be less compared to [...] Continue Reading »
The Maharashtra chief minister agreed new development control rules (DCR) at Mumbai on Tuesday. The implementation of this new rule is to eradicate the illegal practices in the realty industry. However, the policy’s emphasis denied saying that this new rule gives a clear picture about the revenue Brihanmumbai Municipal Corporation (BMC) earns from the builders [...] Continue Reading »
Maharashtra government has announced changes in the Development Control Rules (DCR) for the Dharavi slum redevelopment ahead of Mumbai civic polls. The redevelopment plan of Dharavi was approved in 2004 with an aim to develop roads, toilets, gardens and basic amenities in the area. After the redevelopment, standard of living can be improved and around [...] Continue Reading »
As an initiative to increase affordable housing in the city, Maharashtra Government has made 20% of land mandatory for the same. The step has been taken keeping in mind to provide housing for economically backward classes and low income group people. Reservation of land would be done only on a 2,000 square meter of land. [...] Continue Reading »
The state and central housing bill’s motto is to bring in more transparency and accountability in the Indian realty sector. Maharashtra has been the first most state to uphold strict laws in concern with the Maharashtra Housing Act, 2011. The citizens feel that this act has stringent norms in them being a barrier for a [...] Continue Reading »
New policy formed for redevelopment of old housing societies does not seem to work good as it was planned. Builders Association of India (BAI) is not happy with the policy want Maharashtra Chief Minister‘s intervention for the same. Projects to be redeveloped in Maharashtra Housing and Area Development Authority (Mhada) layouts have been stopped for [...] Continue Reading »
The ready reckoner (RR) rates is out in Mumbai city and the realty players bashed Maharashtra government for the rise in ready reckoner rates. This new rates came into action from Sunday, bringing in change by five per cent and 30 per cent in Mumbai and rest of Maharashtra. Realty players believe that the present [...] Continue Reading »
Recently, Maharashtra Government has approved a plan of setting up a new housing authority. This means regularization of flats will be a mandatory procedure which in turn be a relief for buyers. The new act to be announced will replace the Maharashtra Ownership Flats (Regulations of promotion of construction, sale, management, and transfer) Act, 1963. [...] Continue Reading »
