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17TH MAY 2017

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MCHI-CREDAI

 RR NEWS

     

Maharashtra govt set to undo hike in ready reckoner rates for land in MMR

Publication: THE INDIAN EXPRESS Date : 17 MAY 2017
The Maharashtra government is set to use a little-known rule in the General Clauses Act to stay the 2017-18 ready reckoner rates for land in the Mumbai Metropolitan Region. .

 RERA NEWS

     

RERA effect: Builders rush to restructure realty projects, business model

Publication: MINT Date : 17 MAY 2017
Builders like Hiranandani Group, Tata Housing and Wadhwa Group are dividing large realty projects into multiple phases to ensure compliance with RERA

 NEW RULE NEWS

     

Steep hike in duty on property gift deeds

Publication: TIMES OF INDIA Date : 17 MAY 2017
Mumbai:   Say you own a 1000sq ft flat in Chembur where the ready reckoner rate (official rate fixed by government) for land is Rs 81,000 per sq m. If you were to transfer it to your spouse, sibling or child, stamp duty would be a mere Rs 200-500, depending on the nature of the plot.
     

Now, higher stamp duty for immovable properties

Publication: DNA Date : 17 MAY 2017
Gifting immovable property to blood relatives like children, husband, wife, sister or brother may get costlier with the state government deciding to levy a higher stamp duty on such gift deed transactions.

 KNIGHT FRANK NEWS

     

Mumbai ranked 24th in global luxury home price growth index: report

Publication: MINT Date : 17 MAY 2017
Luxury home prices in Mumbai inched up 1.1% in the year ended March, making it the only Indian city which saw a price growth in the luxury category, a report by Knight Frank said
     

Mumbai ranks 24th in luxury homes price rise globally

Publication: BUSINESS LINE Date : 17 MAY 2017
NEW DELHI, MAY 16: Mumbai ranked 24th among 41 cities globally with 1.1 per cent price rise in luxury homes for the year ended March 2017, property consultant Knight Frank India said today.
     

Luxury Homes: ‘Mumbai only Indian city to post price growth in the segment’

Publication: THE INDIAN EXPRESS Date : 17 MAY 2017
Guangzhou, Beijing and Shanghai topped the index with an average price growth of 26.3%. Luxury prices in tech hubs outperforming financial centres

 INFRA NEWS

     

`Sanction land for infra projects in 90 days'

Publication: TIMES OF INDIA Date : 17 MAY 2017
To avoid delay in public projects due to land allotment and transfer issues, the state cabinet on Tuesday laid down new set of rules which makes it mandatory for government agencies to give advance possession of the land required for a public project in 90 days.

 CITY NEWS

     

Maharashtra pushes GIS mapping of properties to fill civic coffers

Publication: THE INDIAN EXPRESS Date : 17 MAY 2017
Around 30 per cent of the properties in emerging towns are yet to come under the tax net, officials estimate.

 OTHER CITY NEWS

     

Need to make Navi Mumbai airport operational soon: Civil Aviation Minister

Publication: THE INDIAN EXPRESS Date : 17 MAY 2017
Raju was in Mumbai to inaugurate an AAI building at Vile Parle. In an interaction with reporters, he said a city like Mumbai surely needed a second airport.

 REALTY  NEWS

     

Real estate has Nothing to complain

Publication: FINANCIAL CHRONICLE Date : 15 MAY 2017
India’s real estate sector has the least to complain against three years of the Narendra Modi-led NDA government at the Centre.
     

ICICI, HDFC follow SBI to cut home loan rates

Publication: ECONOMIC TIMES Date : 15 MAY 2017
MUMBAI: ICICI Bank has reduced home loan rates for loans upto Rs 30 lakh or loans which are classified in the affordable housing category by 30 basis points. One basis point is 0.01 percentage point.

CREDAI-MCHI,

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T: 022 - 42121421
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