Mumbai Properties
According to a Supreme Court verdict in 2010, a developer of a housing complex cannot charge members for parking space. The ruling said the developers cannot sell open spaces and stilt areas in their buildings as these are meant for common use and form part of the flats. I-T officials who raided the Lodha Group [...] Continue Reading »
After the Environment Ministry Jairam Ramesh recommended the demolition of the Adarsh Housing Society building in Mumbai for violating coastal regulations, Defence Ministry today said it would take a “balanced view” on the issue before arriving at any decision. He was responding to queries about the future of the building in view of the Environment [...] Continue Reading »
A century-old residential building in the heart of south Mumbai-Nowroz Building near Girgaum Chowpatty has been bought by Pune-based developer Avinash Bhosale for Rs 150 crore. The four-storied Nowroz Building on Hughes Road near Girgaum Chowpatty was built at the turn of the last century and is a tenanted, cessed property. Bhosale confirmed the deal. [...] Continue Reading »
Housing societies feel this is the right time to redevelop their properties and encash on it. More than 15 housing society redevelopment proposals in Mumbai and suburbs have come up in the past three weeks. This is mainly because residents want to take advantage of the current high property prices. Currently, they are in a [...] Continue Reading »
Under the new capital value-based system property taxes are likely to go up in south Mumbai, while residents in the suburbs may get some relief from the current property tax levels.The new system was announced on 1st April 2010, but has not been enforced as the tax rate has not been fixed yet. The civic [...] Continue Reading »
The government insisting that developers follow the carpet-area norm but the revenue department continues to charge stamp duty on the basis of build-up area. According to Maharashtra Chamber of Housing Industry (MCHI), the Brihanmumbai Municipal Corporation (BMC) sanctions building permission plans on the basis of built-up area. The Maharashtra Chamber of Housing Industry (MCHI), a [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) has increased the period of making suggestions and objections in connection with the proposed circular of evaluation of the new property tax system by a month. The property tax will be computed on the basis of capital-value system. Earlier, property tax was computed on the basis of rent paid by [...] Continue Reading »
The Maharashtra Chamber of Housing Industry (MCHI), the apex body of real estate business in the state, has directed all its members not to book flats without receiving the commencement certificate (CC) from the authorities. This move will ensure that people buy flats only in approved projects. With a view to curb unethical practices, MCHI [...] Continue Reading »
The state government of Mumbai has decided to interlink all sub-registrars’ offices to curb scams. The move will curb instances of a single flat or a property being registered in names of multiple buyers. Once the offices are interlinked, registration officials will be able access all the records pertaining to a particular property at the [...] Continue Reading »
Residents of Dadar (W) are happy that the authorities are finally taking steps to stop the exploitation of the historic park-Shivaji Park by political parties and religious leaders for their events. Shivaji Park is much sought-after residential addresses with its old-world charm, a view of the sea or the park, and tree-lined lanes.The only drawback [...] Continue Reading »
