Properties in Mumbai
The Maharashtra legislative assembly has introduced the new proposal for the real estate regulatory bill. The builders association in Maharashtra think that the bill will not help any of the builders or the buyers of properties in Mumbai. According to several assembly members, the bill needs more discussion before passing it for an act. The [...] Continue Reading »
The higher costs of construction and financing are showing signs of residential property rates increase in Indian cities. Property developers across the country have decided to gear up the property prices hit by slow sales, expensive financing and high interest rate regime. The Mumbai real estate industry experts say that they have managed to enhance [...] Continue Reading »
With the proposed rise in the stamp duty for leave and license agreement in Maharashtra, the cost of rented apartments in Mumbai will increase. The government has increased the rate of stamp duty from 0.1 % to 1% for the current financial year. According to the real estate analyst, this decision will impact the rental [...] Continue Reading »
The government of Mumbai has introduced the new development control regulations for the properties in Mumbai. According to the new Floor Space Index (FSI) calculation, the balcony, flower beds, ducts, car decks, etc. will not be included in the salable floor area. However according to builders association this decision will increase the cost of the [...] Continue Reading »
The Mumbai municipality issued notice to all the owners for payment of the due property tax. And the due date was 31st March, 2012. The notice surprised the owners as many of them were unaware of the due taxes. Lot of the owners purchased the apartments in Mumbai recently and at the time of sale [...] Continue Reading »
As the inflow of population towards Mumbai is increasing day by day, it is became harder for finding a home. The congestion of the city is increasing every day leading to space scarcity for the blue collared people. For those who are accommodating in rental houses has to search for new apartments almost after every [...] Continue Reading »
The sale outflow of apartments in Mumbai real estate has slowed down. It is observed that the residential apartment sales in Mumbai has dropped by 28 percent during last 1 hour. Right now Mumbai realty market has plenty of unsold apartments in and around the city. However, in the experts view all the apartments will [...] 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 »
