23RD TO 25TH JUNE 2018

If you cannot read this email, please click here





City’s old devpt plan to remain in force till Aug-end

Publication: TIMES OF INDIA Date : 23 JUNE 2018
Mumbai: The city’s new development plan (2034) will come into force on September 1, the state government said on Friday. Till then, the development plan of 1991will continue.



Mumbai’s new Development Plan will now kick in from September 1

Publication:THE INDIAN EXPRESS Date : 23 JUNE 2018
The UD department subsequently published it in the state’s official gazette on May 23, which declared that it would kick in after a month from the date of the gazette.

Mumbai’s new development plan to be implemented only after 2 months

Publication:TIMES OF INDIA Date : 23 JUNE 2018
The city’s new development plan (DP) 2034 will be implemented only after two months. The state issued a corrigendum on Friday stating that DP 2034 will come into effect from September 1.



Warburg-Embassy JV Buys 110 acres in Haryana for Industrial Park

Publication: ECONOMIC TIMES Date : 23 JUNE 2018
Mumbai: Private equity major Warburg Pincus and Embassy Group’s joint venture company, Embassy Industrial Parks, has acquired a 110-acre land parcel in Haryana’s Farrukhnagar town near Gurugram.

Realty, health pose risks to bond market, says McKinsey Global Institute

Publication: BUSINESS STANDARD Date : 23 JUNE 2018
Corporate bonds in India are at lower risk than in other emerging economies, but two sectors, real estate and health care, are at greater risk than average, a recent discussion paper from McKinsey Global Institute has flagged.

Realty sector’s growing debt trap likely to lead to repayment crisis

Publication: BUSINESS LINE Date : 23 JUNE 2018
Excess leverage for land accumulation, combined with lack of sales, has taken the debt levels of real estate developers to more than ₹4 lakh crore as of December-end 2017, just a little short of the telecom sector’s ₹4.5 lakh crore.




No land available to build Metro 2B underground, MMRDA tells HC

Publication: TIMES OF INDIA Date : 24 JUNE 2018
Mumbai: MMRDA told the Bombay high court that it is not possible to build the elevated Metro Line 2B, which will connect the eastern and western suburbs, partly underground as there is no land available.

CITY NEWSstrong>


Ghost townships of Maha

Publication: THE ASIAN AGE Date : 24 JUNE 2018
Mumbai: In the early 2000s, the state witnessed a spree of integrated township programmes in lush hilltop areas such as Lonavala and Lavasa, where developers lured homebuyers with a slew of amenities and offers.

Pay 68% of RR rates to legalise flat alterations

Publication: TIMES OF INDIA Date : 24 JUNE 2018
Mumbai: The BMC will soon be inviting applications from citizens to convert their illegal constructions, alterations/additions constructed prior to December 31, 2015 into tolerated structures.

Deadline extended to file objections for Mumbai's Development Plan 2034

Publication: DNA Date : 24 JUNE 2018
The citizens can now file their suggestions and objections for the city's Development Plan (DP) 2034 even after June 21, which was the deadline declared earlier.



Navi Mum and Pune in top 10, Mum is 18th in Swachh survey

Publication: TIMES OF INDIA Date : 24 JUNE 2018
New Delhi/Mumbai: Navi Mumbai slipped by one rank to take the 9th spot and Pune emerged as number 10, three positions up from last year, in Swachh Survekshan 2018, the cleanliness rankings of municipalities




Mhada approves vacation of 10 bldgs in Kalbadevi

Publication: THE ASIAN AGE Date : 25 JUNE 2018
Mumbai: The Maharashtra Housing and Area Development Authority (Mhada) has given no-objection certificates (NOCs) for vacating 10 out of the 14 buildings in Kalbadevi that would be affected due to the tunnelling process of the Metro-3 (Colaba-Bandra-SEEPZ line).



Mafatlal scion buys Rs 89 cr flat at Altamount Road

Publication: DNA Date : 25 JUNE 2018
In another high value real estate deal in Mumbai, industrialist Vishad P Mafatlal, grandson of Arvind Mafatlal, has bought a 10,085 sq ft flat in the tony Altamount Road neighbourhood for a whopping Rs 88.99 crore.

Impersonation to forgery, home loan frauds see new tricks

Publication: DNA Date : 25 JUNE 2018
Housing finance regulator National Housing Bank (NHB) has alerted housing finance companies (HFCs) about over 80 specific fraudulent transactions in Maharashtra, Delhi, Uttar Pradesh, Karnataka, among others,

Builders go extra mile to bring back luxury buyers

Publication: LIVE MINT Date : 25 JUNE 2018
Even as the mid-income housing market is taking off, luxury residential project launches fell 70% in 2017 from a year ago

Rental income is taxable in the hands of each co-owner of an apartment

Publication: LIVE MINT Date : 25 JUNE 2018
From a tax perspective, the proportion of ownership would be determined based on amount funded by each person for the cost of property


 Maker Bhavan II, 4th Floor, 18,
Sir Vithaldas Thakersey Marg, New Marine
Lines, Mumbai - 400 020.
T: 022 - 42121421
E: secretariat@mchi.net