6TH&7TH JULY 2017

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MCHI-CREDAI

06TH JULY 2017 NEWS

 CITY NEWS

     

Real estate project launches down 36%

Publication: TIMES OF INDIA Date : 06 JULY 2017
New launches in the Mumbai Metropolitan Region were down 36% between January and June 2017 because of the new Real Estate Regulatory Act, and the Bombay High Court's stay on permissions to new projects over saturation of dumping grounds in the city .
     

Real estate sector slowdown : New development projects in Mumbai dip by 36 per cent

Publication: HINDUSTAN TIMES Date : 06 JULY 2017
The real estate sector continues to languish as the number of new launches in the first six months of 2017 reduced by 36 % compared to last year during the same period in the Mumbai Metropolitan Region (MMR).

REALTY NEWS

     

Home Sales Rise Post Note Ban

Publication: ECONOMIC TIMES Date : 06 JULY 2017 
Residential real estate sales, led by affordable housing, have picked up pace and have shaken off the woes of demonetisation, but are yet to reach the pre-demonetisation levels.
     

Reality Queries

Publication: ECONOMIC TIMES Date : 06 JULY 2017 
Every week, an expert selected by ET answers queries from our readers on real estate investments
     

Is J Kumar Infra a `Buy' in Mid-Sized Construction Space?

Publication: ECONOMIC TIMES Date : 06 JULY 2017 
A strong order book, high revenue visibility , steady profitability and light balance sheet make J Kumar Infraprojects attractive among midsized construction companies.

07TH JULY 2017 NEWS

PROPERTY TAX NEWS

     

No property tax for Mumbai homes with 500sqft carpet area, 60% discount up to 700sqft

Publication: HINDUSTAN TIMES Date : 07 JULY 2017
The Brihanmumbai Municipal Corporation passed a resolution waiving property tax for houses with a carpet area up to 500 square feet in its general body meeting on Thursday.
     

Now, no property tax on flats under 500 sq ft

Publication: TIMES OF INDIA Date : 06 JULY 2017
Mumbai   Soon, homes in the city of up to 500 square feet will be exempt from property tax and those sized between 501 sq ft and 700 sq ft will get 60% discount on the tax.
     

Tax on properties may not increase after GST: Consulting firm

Publication: ECONOMIC TIMES Date : 06 JULY 2017 
KOLKATA: Tax burden on homebuyers in under-construction projects is not expected to increase in Goods and Services Tax (GST) regime, an official from a property consulting firm said on Thursday.
     

Now, no property tax for 500 sq ft houses

Publication: DNA Date : 07 JULY 2017
The general body of Brihanmumbai Municipal Corporation (BMC) on Thursday cleared a proposal to waive off property tax for residential houses measuring up to 500 sq ft and to give a 60 per cent concession for houses between 500 sq ft and 700 sq ft, a poll promise by the Shiv Sena ahead of the civic elections.

RERA NEWS

     

RERA helping HDFC tap affordable housing segment customers: Karnad

Publication: MINT Date : 07 JULY 2017 
New Delhi: The new real estate regulation has helped Housing Development Finance Corporation (HDFC) Ltd tap customers in the affordable housing segment by bringing in much-needed transparency and accountability, the mortgage lender said on Thursday.
     

RERA impact: New launches down 41 per cent in real estate sector

Publication: BUSINESS LINE Date : 07 JULY 2017 
MUMBAI, JULY 6: Impact of RERA seems to be kicking in the real estate sector with new launches crashing to a seven-year low by 41 percent. The sales volumes have been down by 11 percent year on year, according to a Knight Frank report.
     

RERA chairman wants old real estate Act repealed

Publication: DNA Date : 07 JULY 2017 
The state’s oldest legislation that safeguards the interests of home buyers, the Maharashtra Ownership Flat Act (MOFA) 1963, may soon be history.

CITY NEWS

     

Mumbai metro: Agency to tap domestic funds as government won’t guarantee more loans

Publication: HINDUSTAN TIMES Date : 07 JULY 2017 
Mumbai Metropolitan Region Development Authority (MMRDA), the nodal agency for the metro projects, has planned to raise funds through the domestic market for the big-ticket metro projects,
     

July 18 deadline: Discussion on DP likely to be taken up on 3 days this month

Publication: THE INDIAN EXPRESS Date : 07 JULY 2017 
Officials from the Mayor’s office as well as the group leaders of several parties said discussion on the DP will now be taken up on July 14, 15 and 17.
 

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