RR NEWS

Maharashtra builders get options on housing stock

Publication: DNA Date : 15 MARCH 2017 PAGE: 05

Mumbai: Maharashtra government will now allow developers either to pay the premium or hand over the 20 per cent housing stock to government at the ready reckoner rate if they are developing more than 4000 sq metre of the plot.

 BMC NEWS

TOI EXCLUSIVE - BMC sits on Rs 61,510cr cash stash, yet services a mess

Publication: TIMES OF INDIA Date : 15 MARCH 2017 PAGE: 01

Mumbai: Hold your breath, Mumbaikars, it can now finally be revealed. Your municipal corporation, known more for its inept and poor service delivery , and largely responsible for the city's decrepit condition, is sitting on a cash pile currently worth an eyepopping Rs 61,510 crore

MANGROVES NEWS

Mangroves in Manori-Gorai being destroyed, say activists from Mumbai

Publication: HINDUSTAN TIMES Date : 15 MARCH 2017 PAGE: 06

Mumbai: Thousands of mangrove trees along the Manori-Gorai belt have been destroyed through debris dumping, according to environment groups.

NEW RULE NEWS

MLC objects to Maharashtra's new rule on architects

Publication: ET REALTY Date : 15 MARCH 2017

MUMBAI: The Congress party has objected to the state government's new rule which holds architects responsible for any structural flaws or defects that occur within 10 years after the construction of a building.

INFRA NEWS

Bombay high court orders temporary freeze on 47 hectares of land for Metro-3

Publication: HINDUSTAN TIMES Date : 15 MARCH 2017 PAGE: 05

The Bombay high court on Tuesday ordered a temporary freeze on a large plot of land at Bandra Reclamation, part of which is being used for a casting yard and temporary labour accommodation for Metro-3 workers.

 CITY NEWS

Builders may pay double property tax for illegal buildings

Publication: THE ASIAN AGE Date : 15 MARCH 2017 PAGE: 04

Mumbai: Developers and builders might have to pay double the amount of property tax leviable on such building for constructing unauthorised buildings, and this fine would be charged as long as the buildings remain unauthorised.

REALTY NEWS

The escrow account for real estate projects

Publication: MINT Date : 15 MARCH 2017

The Real Estate (development and regulation) Act, 2016, will get implemented from 1 May. Out of the many other provisions of the Act, one of the main provisions requires developers to open an ‘escrow account’ for each project they undertake to develop.

Investing in rental property? Top 5 things to consider

Publication: FINANCIAL EXPRESS Date : 15 MARCH 2017

Real estate as an investment is always an integral part of an investor's portfolio, especially the benefits of owning rental properties are as vast as your goals and desires.