MCHI
The delay in approvals for construction projects has annoyed the builders across India so much that they have decided to stage a protest. The president of confederation of real estate developers association of India (CREDAI) say that a day long strike has been planned if the demands are not met. Also, it has been observed [...] Continue Reading »
As per the recent Bombay High court’s order, service tax will be levied on construction of properties. Earlier, Maharashtra Chamber of Housing Industry (MCHI) challenged the order of paying extra service tax. The order also stated that only state government has the power to levy tax on flats, buildings and other plots. MCHI has already [...] Continue Reading »
Builders in Mumbai are a worried lot now over various issues. Maharashtra Chamber of Housing Industry (MCHI) met the state chief minister to reverse back the Ready Reckoner (RR) rates as it was in 2011. The builders also wanted a permanent solution for getting instant clearances for building projects. An abrupt increase of 46% in [...] Continue Reading »
This news comes in as an hurricane! Finally the developers have started cutting down the property rates. This was the royal time all the prospective buyers were waiting for! Unbelievable property rates in Mumbai have come down by 10 to 30 percent. Just to survive in this sluggish real estate market, the city developers are [...] 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 »
Maharashtra Chamber of Housing Industry (MCHI) has disagreed seeking no-objection certificates from the state government. MCHI- a body of real estate developers are hoping to seek relief from Urban Land Ceiling Act restrictions. Now that the act has been repealed, the state government has sought legal opinion as per developers request to seek exemptions from [...] Continue Reading »
The Maharashtra Chamber of Housing Industry (MCHI) has come up with a rule to strengthen its mechanism to clear the issues. The new method of the rule is mandatory for the developer to sell the property as per the carpet area. Environment certificates and a title clearance certificate along with the other approvals before accepting bookings [...] Continue Reading »
BMC’s plan to levy a 100% premium on some areas like flower bed, parking and balconies appeared to have been made under the premise that developers were indulging in commercial exploitation. Maharashtra Chamber of Housing Industry (MCHI) recommended a maximum of 25% premium on compensatory FSI and that “this area should not be inclusive of [...] Continue Reading »
Navi Mumbai, that could once boast of offering houses at moderate prices is now burning a hole in a buyer’s pocket. Residents are not happy with the scene. What they want is that the place must go back to its original plan of offering affordable homes. The town witnessed a good housing growth till five [...] Continue Reading »
