Redevelopment projects
Chennai- The Grand Southern Trunk (GST) road or National Highway 45 (NH-45) in South Chennai is a 472 km stretch which is evolving into a prime realty market. It has gained popularity due to integrated developments, SEZs and good connectivity to other parts of the city. Overview GST road starts from Kathipara junction in Guindy [...] Continue Reading »
Mumbai: In order to control unauthorised constructions in the state, following the appalling building collapse in Mumbra, Thane, the state government has planned to appoint special officers at the municipal corporations. The Minister for State for Housing, Sachin Ahir, stated that the government has decided that an officer will be appointed for each ward who [...] Continue Reading »
Bombay High Court has recently given green signal for additional floor space index (FSI) for around 2,200 redevelopment projects in Mumbai. The only condition that was kept forward by the government was struck down by the bench. The condition was to grant extra FSI in case of ongoing redevelopment schemes for old cessed buildings. Earlier [...] Continue Reading »
The Chief Minister of Maharashtra has ensured in the legislative assembly that the new policy for Maharashtra Housing Area Development Authority (Mhada) redevelopment along with norms will be issued soon. Also, the state government has decided to not charge premium for Mhada redevelopment projects as against extra floor space index (FSI). The plan has been [...] Continue Reading »
Ahmedabad- Amplus Realty Fund has announced its first investment of Rs 30 crore in a residential project by Assetz Homes in Bangalore. In the next three years, it expects to get 25 percent returns on this investment. The joint venture aims at developing a mid and high-end residential project in Rajajinagar, Bangalore by 2015. Amplus [...] Continue Reading »
In order to crackdown sloppy work, a policy has been issued by Brihanmumbai Municipal Corporation (BMC) which states that maximum period of redevelopment of property should be four years and levying penalties on developers who cross deadlines. Already over Rs 90 penalties are issued on sub-engineers of road department for not filling up the pot [...] Continue Reading »
Godrej Properties is all set to redevelop a residential property of a private society in Ghatkopar, Mumbai. Mumbai based Godrej Properties, the real estate development arm of Godrej group, will be adding another redevelopment project to its portfolio with this one. The project spread over 2.5 acres will offer around 185,000 sq ft of free [...] Continue Reading »
Ajay Piramal-backed Indiareit Fund Advisors Pvt. Ltd has raised a Rs 250 crore fund that will be invested solely in redevelopment projects of slums, old housing societies and ceased buildings in Mumbai. The real estate fund has planned to raise another Rs 200-250 crore before closing the fund in a couple of months. According to [...] Continue Reading »
Good news for residential societies in Mumbai who could not set its aim for redevelopment! There are many residential colonies in the major cities which could not go for redevelopment due to low affordability. Now, banks in Mumbai has taken up the charge to finance those projects in the city. It will be a good [...] 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 »
