MahaRERA, the authority under Real Estate (Regulation and Development) Act, 2016, in Maharashtra, has blacklisted 644 housing projects in the state for not meeting project deadlines. The authority has prohibited them from being sold, advertised or marketed in the state. These projects were supposed to be completed and handed over to homebuyers in 2017 and 2018. Even though most of the projects are being developed by local developers, one big name on the list is Lavasa Corporation promoted by HCC whose registration expired in 2017.
Most of these projects were launched between 2008 and 2010
In a controversial move, the Bharatiya Janata Party-Shiv Sena government in Maharashtra has decided that autorickshaw permits in future will be issued to only those who can speak Marathi language.
Who are the politicians who either build illegal housing or protect them, or worse, secure compliance from the civic officials who wink at the contraventions? More importantly, where is the blacklist of builders who have indulged in rule-breaking as a business practice so that the buyers can avoid their projects, asks Mahesh Vijapurkar.
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
The demand for affordable housing is 535,400 units.
A 58-year-old man died after a power transformer fell on him in Raigad district. 2 people died and 3 were injured in two separate cyclone-related incidents in Pune.
These cities are -- Mumbai Metropolitan Region (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
The Maharashtra Health Minister said that the rise in the number of patients is a major cause of concern and people's cooperation is needed to fight out the outbreak.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
Shiv Sena has so far expressed concerns over car shed for the city's planned metro network, the bullet train and the West Coast refinery projects.
The opposition has been critical of the Centre's handling of the situation, accusing it of not doing enough to ease the hardships of the migrant workers, many of whom have lost their jobs during the lockdown which started on March 25.
Notably, after coming to power in November 2019, the then MVA government scrapped certain policy decisions of its predecessor BJP-Shiv Sena government led by Fadnavis.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
50 per cent of the flashlights market in the country is dominated by Chinese imports, which have been increasing.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
Realty plans hit roadblock; delay could hit modernisation
Infra experts say govt will first need to figure out how to exploit real estate along the proposed routes.
She also demanded that the inquiry be completed within six months and the case be heard by a fast-track court.
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The state government's notification, which was issued earlier in the week, quoted the civil aviation ministry's letter urging quick rehabilitation of slum dwellers due to security threat.
Although markets such as Mumbai and some places in the national capital region have continued to see a slowdown in the property markets over the last three years, developers were pinning their hope on the festive season.
Easing of restrictions came even as Maharashtra continues to registered a record number of new coronavirus cases with no flattening of curve in sight in the state.
Year by year, our cities remain defeated in the face of weather conditions, costing us time, money, resources and often lives, observe Amit Kapoor and Bibek Debroy.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
Real estate developers are increasingly reducing the size of apartments to make these affordable at a time when property markets are going through a prolonged slowdown.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
Housing sales are estimated to rise 93 per cent year-on-year during April-June across seven major cities, but may fall 58 per cent compared to the previous quarter due to the adverse impact of the second wave of COVID-19, according to property consultant Anarock. Sales are likely to be around 24,570 units across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune, Anarock said. Sales of residential properties stood at 12,740 units in April-June 2020 and 58,290 units in March quarter 2021.
A day after reporting 4,092 COVID-19 cases, highest single-day tally in more than a month, Maharashtra saw the daily count fall on Monday but it remained above 3,000 for the sixth straight day as the state government termed the situation as 'alarming' and warned of 'harsh decisions' after the recent spike.
Last week's slum fire at Bandra east highlights the stark difference between the two sides of the neighbourhood's railway station. But Piyush Goyal can change it, says Anil Singh.
'Uddhav has told the cops to crack down hard on the MNS agitation if MNS activists try to vitiate the communal harmony in the state.'
'Dharavi will be completely slum free by 2040'
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
Everything you wanted to know about the Mumbai-Ahmedabad bullet train but didn't know who to ask.
'It is a well-thought-out decision. I feel it is difficult for him now to step back.'
Vidarbha had given as many as 44 seats to the BJP in 2014. The Congress and NCP, plus independents and smaller parties, snatched 19 seats from the BJP, reports Abhishek Waghmare.
The amount is penalty charged on the Mukesh Ambani-led company for failing to develop the C-66 plot in G Block, named as One BKC.
The logistics segment is becoming a hot favourite of private equity, of late.
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