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Cut in transfer charges to free up land for industrial usage in Mumbai suburbs

Cut in transfer charges to free up land for industrial usage in Mumbai suburbs

Maharashtra chief minister Devendra Fadnavis said that the idea was to facilitate industrial use of vacant plots of land or those plots where the manufacturing units have turned sick Large tracts of industrial land in Mumbai suburbs are expected to be freed for sale after a Maharashtra government decision to slash the premium charged on […]

Ready flats are top picks as builder delays rise

Ready flats are top picks as builder delays rise

Homebuyers are increasingly showing a preference for buying ready-to-move-in apartments against under-construction homes as builder delays and defaults increase. The trend indicates that consumers are more interested in certainty related to such ready apartments than saving money by booking an under-construction apartment that offers deferred payment facility. Taking a cue from this, real estate developers […]

Plot owner or society not liable in case of default by builder

Plot owner or society not liable in case of default by builder

MUMBAI: Faced with litigation, the Maharashtra Real EstateRegulatory Authority (MahaRERA) has informed the Bombay high court that it has rolled back a May 2017 order that had the effect of holding a housing society or plot owner responsible for violations or irregularities committed by the developer under the new housing regulation law. In an affidavit filed before the […]

Maha RERA makes only developer, not land owner, answerable to homebuyers

Maha RERA makes only developer, not land owner, answerable to homebuyers

Maharashtra Real Estate Regulatory Authority (MahaRERA) has withdrawn its office order making land owners equally liable as that of builders and developers Maharashtra Real Estate Regulatory Authority (MahaRERA) has withdrawn its office order making land owners equally liable as that of builders and developers under the Real Estate (Regulation and Development) Act, 2016, the Bombay […]

Home buyers claim Jaiprakash Associates diverted over Rs 10,000 crore from Jaypee Infra

Home buyers claim Jaiprakash Associates diverted over Rs 10,000 crore from Jaypee Infra

Jaypee Infratech has spent a minimum amount of Rs 13,283 crore towards the construction and development of the Yamuna Expressway, which translates to an amount of Rs 80.50 crore per kilometer Home buyers claim Jaiprakash Associates has diverted over Rs 10,000 crore from its subsidiary Jaypee Infratech, which is under insolvency, in construction of Yamuna Expressway and […]

MahaRERA orders Neptune to give home buyers flats in other wings

MahaRERA orders Neptune to give home buyers flats in other wings

The Neptune 100 Above Buyers’ Welfare Association, set up by 53 home buyers who had booked apartments in Neptune Eleve’s B wing in Kanjurmarg in suburban Mumbai In a first ruling on a complaint filed by an association of home buyers, Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Neptune Ventures and Developers Private Limited, which failed to give promised […]

‘Price of flat not relevant in case of claim for refund’

‘Price of flat not relevant in case of claim for refund’

Ruhi Seth had booked an apartment in a housing projected to be constructed by Ireo Grace Realtech, a private construction company. Out of the total agreed consideration of Rs 1,84,44,568, Seth had paid Rs 33,56,942. When the builder sent the draft of the agreement, Seth objected to certain clauses, refused to sign the agreement and sent it […]

Another bid to put Mumbai’s Wadala-Thane Metro-4 line on track

Another bid to put Mumbai’s Wadala-Thane Metro-4 line on track

The MMRDA had to scrap tenders floated earlier this year as the bids were 25% more than the estimated cost of the project After scrapping bids earlier this year, the Mumbai Metropolitan Regional Development Authority (MMRDA) invited bidders for five packages worth Rs2,700 crore for the Metro-4 line (Wadala-Thane-Kasarvadavali) on Sunday. Despite a nod from […]

RERA has revived home sector demand

RERA has revived home sector demand

SBI is seen to be among the major gainers from the government’s move to inject equity into state-run banks to enable them to lend more and spur economic activity. In an interview with TOI, Rajnish Kumar, the newly-appointed chairman of the country’s largest bank, talks about signs of change in the economic situation and expects […]