Redevelopment projects
Mumbai builders take Mhada for a 228 crore ride. Under Mhada rules, builders have to surrender part of the built-up area of redeveloped properties. For the past 20 years, builders have not given up surplus area. Source said that some Mhada officials are believed to be part of this nexus with the builders. On Thursday, [...] Continue Reading »
The state government amended Development Control (DC) rules in the city encouraging cluster redevelopment. Cluster development is developing an area comprising several buildings rather than individual structures. In a recent move, Maharashtra Chief Minister Prithviraj Chavan has asked state officials to work out a plan under which cluster development right can be auctioned to the [...] 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 »
