BLDG REVAMP NEWS

Boost for building revamp in Mumbai’s suburbs

Publication: HINDUSTAN TIMES Date : 04 JANUARY 2017 PAGE: 01

MUMBAI: In a significant move ahead of the Brihanmumbai Municipal Corporation (BMC) polls, the Maharashtra government has decided to extend the incentive of more floor space index (FSI) to the suburbs.

Maharashtra govt introduces new cess for redevelopment of dilapidated, tenanted buildings

Publication: THE INDIAN EXPRESS Date : 04 JANUARY 2017 PAGE: 04

MUMBAI: In the run-up to civic polls in Mumbai, the Maharashtra government led by Chief Minister Devendra Fadnavis on Tuesday introduced a new cess

OPEN SPACES NEWS

Citizen groups write to Maha CM, seek his intervention in open spaces policy

Publication: HINDUSTAN TIMES Date : 04 JANUARY 2017 PAGE:01

MUMBAI: While the interim open spaces policy has gone into cold storage until the next general body is elected, which is unlikely before March 2017, citizen groups on Tuesday wrote to chief minister Devendra Fadnavis for his intervention on the controversial caretaker guidelines.

 CITY NEWS

High-rise rooftops can be joined: BMC

Publication: TIMES OF INDIA Date : 04 JANUARY 2017 PAGE: 01

MUMBAI : Terraces of highrise buildings in the city will now be allowed ornamental projections and architectural features, according to a new `Crown Policy' to be introduced by the BMC.

OTHER CITIES NEWS

City property registrations up 37% in Dec

Publication: TIMES OF INDIA Date : 04 JANUARY 2017 PAGE: 01

PUNE : Property registrations across Maharashtra increased by over 29% in December compared to November when demonetization had put brakes on property deals..

NAVI MUMBAI AIRPORT PROJECT - GVK Co May be Lone Bidder Left for New Airport

Publication: ECONOMIC TIMES Date : 04 JANUARY 2017 PAGE: 01

MUMBAI: Other 3 shortlisted cos -GMR Infra, Tata Realty, Hiranandani Group -may pull out; say the stipulated 42-month time to complete the project is too short, given the conditions

GMR, Tatas to stay out of the Rs 16,000 crore Navi Mumbai airport bid

Publication: BUSINESS STANDARD Date : 04 JANUARY 2017 PAGE: 01

MUMBAI: The GMR Group and Tata Realty will not bid for the Navi Mumbai airport project, citing “onerous” bid conditions, among other reasons.

REALTY NEWS

New real estate law may spell the end of pre-launch sales

Publication: MINT Date : 04 JANUARY 2017 PAGE: 05

MUMBAI: Real estate developers may soon adopt a build-and-sell model for their residential projects—a complete shift from the current norm of selling homes at a preliminary stage..

Lending rate cuts spread to NBFCs; Indiabulls, HDFC, BoI slash rates

Publication: HINDUSTAN TIMES Date : 04 JANUARY 2017 PAGE: 13

MUMBAI: The interest rate loan war intensified on Tuesday, with HDFC Ltd, the biggest non-bank mortgage player in the country, on Tuesday citing lower borrowing costs to slash home loan rates, a day after two of its biggest competitors — SBI and ICICI Bank.

HDFC cuts home loan rates by up to 0.45%

Publication: BUSINESS STANDARD Date : 04 JANUARY 2017 PAGE: 17

MUMBAI: Taking cue from banks, country's largest mortgage lender HDFC today reduced its home loan rates by up to 0.45%.

Builders sitting on unsold inventory of 46 months

Publication: BUSINESS LINE Date : 04 JANUARY 2017 PAGE: 01

MUMBAI: Builders across India are sitting on unsold inventory of 46 months, forcing them to slow down new launches..

Budget 2017: Tax breaks for home loans likely to increase

Publication: BUSINESS STANDARD Date : 04 JANUARY 2017 PAGE: 01

MUMBAI: Aiming to boost demand in the housing sector, the government may hike deduction limit for interest paid on home loans by Rs 50,000, from the current Rs 2 lakh to Rs 2.5 lakh under Section 24 of the Income-Tax Act