25TH MAY 2017

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GST means 2.5% more tax on a flat's maintenance charge

Publication: TIMES OF INDIA Date : 25 MAY 2017
Once the GST regime rolls in on July 1, apartment owners will have to pay about 2.5% additional tax on maintenance charges.



Can older projects benefit from RERA?

Publication: MINT Date : 25 MAY 2017
The new Real Estate Act cannot help if disputes involve projects that were completed before 1 May 2017



Activist claims `wrong' trees hacked for Metro III, court seeks response

Publication: TIMES OF INDIA Date : 25 MAY 2017
Mumbai   The Bombay high court on Wednesday sought the response of the Mumbai Metro Rail Corporation Ltd (MMRCL) on whether or not “wrong“ trees are being hacked for the ColabaAndheri-Seepz Metro-III corridor.

Mumbai to get 47 AC rakes under MUTP-III

Publication: TIMES OF INDIA Date : 25 MAY 2017
Mumbai:   Air-conditioned (AC) rakes on the suburban system will become a norm as the railways has decided to manufacture all coaches under the Mumbai Urban Transport Project (MUTP-III) with this feature.



Building permit for mangrove plot earns BMC flak

Publication: MUMBAI MIRROR Date : 25 MAY 2017
Suburban collector writes to civic body, asking why it has not cancelled developer's plan for construction on Oshiwara forestland

Setback for floating hotel - Committee rejects plan for jetty at Marine Drive

Publication: MUMBAI MIRROR Date : 25 MAY 2017
No construction can be allowed on the heritage precinct of Marine Drive, observes panel comprising top cop, civic chief and heritage committee chairman



New policy brings 5 hill station projects under regional body

Publication: TIMES OF INDIA Date : 25 MAY 2017
All five hill station projects approved by the government in Pune district's Maval-Mulshi belt will now come under the Pune Metropolitan Region Development Authority (PMRDA), as part of the state's hill station policy .



Tax dept unearths 400 benami deals, attaches Rs 530cr properties

Publication: TIMES OF INDIA Date : 25 MAY 2017
The income tax department identified more than 400 benami transactions up to May 23 and immovable properties valued at over Rs 530 crore were attached in 40 cases as the authorities stepped up their fight against black money .

Realty firm fined for not handing over office space

Publication: DNA Date : 25 MAY 2017
A Ballard Estate-based realty firm was held guilty by the state Consumer Dispute Redressal Commission on Wednesday, for refusing to hand over two office spaces booked by the complainants in 1993

Lodha UK Raises $375 m for Project in London

Publication: ECONOMIC TIMES Date : 25 MAY 2017
Lodha UK, the Londonbased development arm of Lodha Developers, has raised $375 million as construction funding for its London project Lincoln Square from Cain Hoy , a private investment company .

Office Rentals at IT Hubs at New Peaks on Lower Vacancies

Publication: ECONOMIC TIMES Date : 25 MAY 2017
Bengaluru | Mumbai   Rentals in Pune and Chennai are back to levels last seen in the third quarter of 2008 Lower vacancy levels have pushed office rentals in information technology and manufacturing hubs

Realty Queries

Publication: ECONOMIC TIMES Date : 25 MAY 2017
Now that the GST rates have been announced, from the buyer point of view, how will the works contract rate impact housing prices? -Satish Jain, Mumbai


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