Mumbai
The real estate fund of Aditya Birla group is thinking of buying 50 percent of stake in a project in Pune which belongs to Ashok Piramal-led realty developer Peninsula Land. The 30 acre township project in Pune is worth more than Rs 230 crore and some parts of it will be sold at around Rs [...] Continue Reading »
A builder in Mumbai has been penalized for terminating a sale agreement of a flat on the grounds of alleged late payment which brings in relief to the buyer. Maharashtra State Consumer Disputes Redressal Commission has directed the builder to pay Rs 2.25 lakh as compensation to the buyer in Kandivali. The Redressal Forum observed [...] Continue Reading »
Paying stamp duty on property transactions is going to be easier now. The task of going around multiple offices will be eased very soon. To make the stamp duty collection system easy, Maharashtra cabinet has approved a new model under which authorized banks will collect stamp payments. With this the whole system will be secured against [...] Continue Reading »
With the rates of properties in Mumbai touching sky, Maharashtra Housing and Area Development Authority (MHADA) has come up with a scheme to provide low cost houses in the city limits of Mumbai. MHADA will team up with different builders in joint ventures to provide 40,000 low-cost houses through this model. These developments will be mostly in [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has been directed by the Supreme Court to clear down six illegal buildings at Worli Naka. The six buildings have occupants who have moved into the units twenty five years back. The illegal buildings which include Esha Ekta, Patel, Orchid, BY, Midtown, and Shubh had been constructed by four seperate developers [...] Continue Reading »
Mumbai- With the Finance Bill 2013 improving the distance and population criteria for determining agricultural land as a capital asset without levying any capital gains tax, land transactions around smaller towns are expected to increase. This move has eased norms for realtors and corporates looking to buy plots around small towns and cities now. A [...] Continue Reading »
With the increasing population and vehicles on road, it has become difficult to park vehicles within the stipulated area. No worries! Brihanmumbai Municipal Corporation (BMC) has thought of an initiative to put an end to parking woes. If everything goes fine and the proposal gets approved, some of the areas in South Mumbai will be [...] Continue Reading »
The opening of the Versova-Andheri-Ghatkopar metro to the public will delay even though the construction of the line is nearing completion. It passed the seventh deadline without opening on time. Now, the deadline has been set to August 2013. However, Mumbai Metropolitan Region Development Authority (MMRDA) officials said the line will be open to the [...] Continue Reading »
Godrej Properties, one of the renowned names in Mumbai real estate, has launched its commercial project in Bandra Kurla Complex (BKC) recently. The project spread over 1.3 million square feet is expected to garner around Rs 3,500-Rs 4,000 crore. The project called Godrej BKC is being developed under a joint development pact with Jet Airways. [...] Continue Reading »
The home loan incentive which was announced recently by the Finance Minister with the Union Budget 2013 has been the talk since its release. The real estate developers are the group who can cheer the most with the incentive. One can claim the tax deduction only if his/her loan amount is less than Rs 25 lakh. Also, it has [...] Continue Reading »
