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In a cautionary decree aimed at builders, the MahaRERA has denied the advantage of the Covid-19 pandemic moratorium, accessible to all promoters. Furthermore, the regulatory authority has instructed a builder to remunerate the complainant with interest, even for the duration covered by the moratorium, due to a violation of the approved plan. Ajoy Mehta, the chairman of MahaRERA, emphasised that only projects that follow the approved plan are eligible for the benefits of the moratorium. The recent order firmly states that benefits or privileges are exclusively granted to entities that operate within the confines of legal compliance. ...
The Congress government is considering raising property guideline values by 15% in an effort to boost income and pay for its poll assurance programme. According to a minister, the government seeks to increase guidance value and encourage online registration by expanding the use of the web-based programme Kaveri 2.0 to places like Bengaluru in order to take advantage of the real estate market's expansion. Due to Covid-19, the guideline value has not been changed since 2019, although being required to be increased by 15% annually. ...
On Friday, Deputy Commissioner Nishant Yadav issued an order for conducting structural audits of 15 residential societies in the city, marking the commencement of the second phase of an initiative launched following the collapse of flats in Chintels Paradiso last year. These societies will be selected from a pool of 60 projects, where residents and Resident Welfare Associations (RWAs) had lodged complaints regarding construction quality and structural flaws in the past two years. ...
Post-2000 slum dwellers in Mumbai will have the opportunity to purchase rehabilitation flats measuring 300 square feet at a cost of Rs 2.5 lakh. This initiative aims to provide affordable housing options to residents living in slum areas. According to Satish Lokhande, the CEO of the Slum Rehabilitation Department of the Maharashtra government, the previous cost of these homes was between Rs 10-12 lakh, making them unaffordable for most individuals in the low-income group. ...
On Thursday, Lieutenant Governor V K Saxena granted approval to the recommendation of appointing an additional district judge as the presiding officer of the Land Acquisition, Rehabilitation and Resettlement (LARR) Authority. According to officials, this new appointment is expected to facilitate the swift resolution of disputes pertaining to land acquisition, compensation, rehabilitation, and resettlement. ...
In a significant stride towards enhancing the Ease of Doing Business, developers are now relieved from the obligation of obtaining separate non-agricultural permission subsequent to acquiring building approvals. State revenue minister Radhakrishna Vikhe-Patil emphasized that once the competent authority grants permission for construction on a specific plot, it automatically implies that the land has been converted to non-agricultural usage, thereby eliminating the need for a separate non-agricultural permission. ...
The Noida Authority has declared that the subleased agreements, commonly known as registries, for 1,097 apartments in 21 collective housing ventures within the city are eligible for completion. However, these agreements are currently being delayed by the real estate developers, who are neglecting their responsibilities towards the prospective homeowners. The Authority has issued a strong warning about imposing punitive actions on developers who persistently obstruct the implementation of these registries. ...
A multitude of civic organizations in the state of Rajasthan, comprising the esteemed Jaipur Development Authority (JDA), have corresponded with the Urban Development and Housing department (UDH), expressing their opposition to a notification put forth by the Rajasthan Real Estate Regulatory Authority (RERA) in September 2021. The mandate requires all civic authorities to assume the responsibility of registering all real estate schemes under RERA. ...
Without going through the entire recovery process of auctioning properties of defaulting developers, the MahaRera has managed to recover approximately Rs 8 crore against 20 recovery orders issued in Mumbai city, Mumbai suburbs, Raigad, and Thane district. MahaRera has diligently pursued the relevant authorities at the district collector's offices to ensure the effective implementation of the recovery procedure. ...
It has been one week since the property tax bills were issued, and the civic administration has accumulated a sum of Rs 40 crore through this levy. The Pune Municipal Corporation (PMC) has introduced a favorable initiative by granting a 40% reduction on property tax for self-occupied properties, following the approval of the scheme by the state government. According to the official notification, properties that were registered after the year 2019 and had previously missed out on availing the discount will now undergo evaluation. ...
Group 108, a prominent real estate developer, and the managing partners of Grandthum, an ongoing IT/ITES project situated in Greater Noida West, have announced their intention to allocate a sum of Rs 2000 crore for investments in the region. These investments will be directed towards multiple projects undertaken by the company. ...
The Maharashtra Real Estate Regulatory Authority (MahaRERA) certification evaluation was attended by a total of 423 realtors from various state areas on Saturday. According to an authoritative source, this marks the inaugural examination designed to certify real estate agents within the state, organized by MahaRERA. To practise their trade as real estate property agents, all 39,000 agents, both those registered and those not, must obtain the MahaRERA certification by September 1. ...
A high-ranking official from the Uttar Pradesh government announced on Monday that a comprehensive plan to resolve the deadlock among stakeholders in group housing projects in Noida and Greater Noida is expected to be developed within two weeks. According to official assessments, more than 100 housing projects in the neighboring cities of Noida and Greater Noida are currently mired or experiencing significant delays, adversely impacting a large number of individuals. ...
The property registration department of the state is currently in the advanced phase of embracing blockchain technology as a measure to safeguard against the replication of authentic online agreement records. An official from the registration department stated that e-registration data will be stored using blockchain technology. This technology enables the sharing of data with pertinent stakeholders, such as property buyers, government authorities, and financial institutions participating in funding the purchase. ...
Amidst corporate expansion concerns, Adobe Systems India, a leading technology company from the United States, has purchased 400,000 square feet of office space in Bengaluru for Rs 505 crore. The purchased office premises, located in Prestige Tech Park IV, will grant the company access to a generous allocation of 640 car parking spaces, along with an undivided share of over 124,000 square feet of land, equivalent to its super-built area. ...
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