CREDAI NEWS

Centre launches 350 housing projects

Publication: BUSINESS STANDARD Date : 11 APRIL 2017

The government on Sunday launched over 350 projects to build about 200,000 houses with a private sector investment of Rs 38,000 crore, a first major initiative of corporates in the Centre's affordable housing scheme.

 PAY AND PARK NEWS

Pay-and-park scheme optional for residential buildings: BMC

Publication: TIMES OF INDIA Date : 11 APRIL 2017

Mumbai: Says It Will Allot Slots Only If Residents Want. Even as a huge hue and cry has broken out in residential areas of south Mumbai over the new payand-park policy , the Brihanmumbai Municipal Corporation (BMC) has clarified the policy is completely `optional' in residential areas.

 INFRA NEWS

Mumbai: Coastal road project to start by October

Publication: THE INDIAN EXPRESS Date : 11 APRIL 2017

AFTER receiving approvals from the ministry of environment and forests last week, the Brihanmumbai Municipal Corporation will now be able to utilise the Rs 1,000 crore fund that was allocated for the coastal road project this year

CITY NEWS

Bad news for home buyers: States fail to set up real estate regulator

Publication: HINDUSTAN TIMES Date : 11 APRIL 2017

The failure of most states to put in place a regulator ahead of the April 30 deadline has put a question mark on the Centre’s effort to protect home buyers by giving them a platform to resolve disputes quickly.

Have all documents, preparing map of Aarey, say Maharashtra forest officials

Publication: HINDUSTAN TIMES Date : 11 APRIL 2017

After it failed to produce documents that prove that Aarey was not part of Sanjay Gandhi National Park, Borivli, the state forest department said that it was preparing a map of Aarey Milk Colony based on the documents that were available.

How many mangroves on private land in Mumbai have been hacked in past 12 years?

Publication: HINDUSTAN TIMES Date : 11 APRIL 2017

Mangrove destruction on private land (under the revenue department) that has gone undetected over the past 12 years will now be identified by the suburban collector’s office.

Slum dwellers may soon turn their shanties into homes

Publication: DNA Date : 11 APRIL 2017

The city will likely get optional methods for slum rehabilitation to boost development. A state government-appointed planning committee's report on the Revised Draft Development Plan 2034 (RDDP) has proposed an alternative model to slum upgradation and redevelopment.

OTHER CITY NEWS

No relief for Thane builder over non-payment of tax

Publication: DNA Date : 11 APRIL 2017

A Thane-based developer, who failed to pay instalments under the Income Declaration Scheme of 2016, claiming he could not do so because of demonetization, has received no relief from the Bombay High Court.

REALTY NEWS

Home prices across India on the rise: RBI

Publication: ET REALTY Date : 11 APRIL 2017

Mumbai: Bombay high court has directed BMC to reply why it withheld occupation certificate (OC) to a Nagpada highrise and also what action it took after learning that flat-owners were residing there illegally for six years.

For tax relief, you need proof of rent paid to kin

Publication: TIMES OF INDIA Date : 11 APRIL 2017

Mumbai: Recently, the Mumbai income tax appellate tribunal (ITAT) denied a claim on house rent allowance (HRA) by a taxpayer. She had paid rent in cash to her mother, but was unable to substantiate it.

A real estate lesson from the Unitech case

Publication: MINT Date : 11 APRIL 2017

The recent arrest of Unitech promoters was the result of homebuyers coming together and fighting the case tooth and nail. Here’s what you can learn from them

Real estate euphoria premature as demand continues to be elusive

Publication: MINT Date : 11 APRIL 2017

Given the deplorable base, the March quarter performance will look appealing. If at all, the financial health of firms with a higher mix of commercial assets would do better

FUND REVIEW - Infra's a Good Bet to Build On

Publication: ECONOMIC TIMES Date : 11 APRIL 2017

For the next three to five years, one theme that is expected to do well is infrastructure. The government's reforms and the strong order books of comapnies have ensured that they are likely to benefit amply in terms of high revenue growth. Besides,

Expert Take - Are Home Loan Amounts Offered by Indian Banks too Conservative?

Publication: ECONOMIC TIMES Date : 11 APRIL 2017

There was a time not so long ago when individual home buyers could get up to 100% of the property value funded from banks. In their rush for volumes, several lenders would add the cost of registration to the property price and compute loan-to-value ratios, or LTV .

Bombay HC restrains Jitendra Jain of Kamla Landmarc from disposing of Rs 4 crore Juhu flat

Publication: ET REALTY Date : 11 APRIL 2017

MUMBAI: In yet another setback to builder Jitendra Jain of Kamla Landmarc group, the Bombay high court, in an interim order, restrained him from creating any third-party rights over a Rs 4 crore flat in Juhu till April 13.

Flat buyers' group asks PM not to trust private builders

Publication: ET REALTY Date : 11 APRIL 2017

NEW DELHI: The flat buyers' association which built pressure on government to bring real estate regulation law (RERA), has appealed to Prime Minister Narendra Modi to find alternative ways to implement the Housing for All scheme rather than taking help of private builders.