08TH AUGUST 2018

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MCHI-CREDAI

RERA NEWS

     

Long term leases covered by Rera: HC

Publication: TIMES OF INDIA Date : 08 AUGUST 2018
Mumbai: Provisions of the real estate regulatory law were applicable to three apartments booked on a 999-year ‘agreement to lease’ in Lavasa, near Pune, and for which 80% of “purchase price” had been paid, said the Bombay high court on Tuesday.
     

RERA provisions apply to long lease too: HC

Publication: MUMBAI MIRROR Date : 08 AUGUST 2018
Court ruled that a 999-year lease agreement amounted to a perpetual lease, and was in reality an agreement of sale
     

RERA relief possible for registered projects

Publication: MINT Date : 08 AUGUST 2018
If the promoter has failed to comply with its obligations, which are recorded in the agreement for sale, then you can file a complaint before the regulatory authority to seek concerned reliefs under relevant provisions of RERA

PMAY NEWS

     

CM plans to start work of 15L homes

Publication: THE ASIAN AGE Date : 08 AUGUST 2018
Mumbai: Chief minister Devendra Fadnavis-led BJP government is planning to start work of 15 lakh homes by joint venture with private landowners under the Pradhan Mantri Aawas Yojana (PMAY),
     

Landowners to be part of PMAY in Maharashtra

Publication: DNA Date : 08 AUGUST 2018
The Maharashtra cabinet on Tuesday approved changes in the Public- Private Partnership (PPP) scheme under the Pradhan Mantri Awas Yojana. As per the changes, state-run housing agency MHADA

INFRA NEWS

     

Planning to extend Metro line to Vasai and Virar: Fadnavis

Publication: THE INDIAN EXPRESS Date : 08 AUGUST 2018
“We are planning to extend the Metro line to 300 km and connect Vasai-Virar. We will then become the longest Metro network in the country,” said Fadnavis during a conversation with Loksatta Editor Girish Kuber and Mumbai Municipal Commissioner Ajoy Mehta.
     

Planning to extend Metro line to Vasai and Virar: Fadnavis

Publication: LOKSATTA Date : 08 AUGUST 2018
“We are planning to extend the Metro line to 300 km and connect Vasai-Virar. We will then become the longest Metro network in the country,” said Fadnavis during a conversation with Loksatta Editor Girish Kuber and Mumbai Municipal Commissioner Ajoy Mehta.
     

Metro aims to be longest rail network in 5 yrs, bigger than CR’s Main and WR put together

Publication: TIMES OF INDIA Date : 08 AUGUST 2018
The new metropolitan commissioner is running against time: he aims to make the metro Mumbai’s longest public transport network in five years.

CITY NEWS

     

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

Publication: HINDUSTAN TIMES Date : 08 AUGUST 2018
Mumbai city news: Owners of houses between 500 square feet and 700 square feet will be given a 60% concession in their property tax.
     

Cabinet allows JVs between private land owners, MHADA

Publication: THE INDIAN EXPRESS Date : 08 AUGUST 2018
The projects in the residential areas would get 2.5 FSI while in the green zone, it will be 1 FSI. The projects would be given concessions in the development charges, added the official. However, the state government has not mentioned a limit on the size of the land for joint ventures.

REALTY NEWS

     

Buying non-resident’s flat involves TDS risks

Publication: TIMES OF INDIA Date : 08 AUGUST 2018
Mumbai: As income tax sleuths intend to keep a close eye on property purchases from non-residents to ensure buyers have correctly deducted tax at source, extra vigilance is required.

 

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