8TH MAY 2017

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MCHI-CREDAI

 RERA NEWS

     

`Get realty projects registered before advertising them'

Publication: TIMES OF INDIA Date : 08 MAY 2017
New Delhi: All ongoing and incomplete realty projects need to be registered (effective from May 1) and only then can builders advertise or sell flats, the real estate regulation law says.
     

The myth of real estate profits

Publication: TIMES OF INDIA Date : 08 MAY 2017
The usual sources of real estate profits have dried up, and they will never be the same again, says Dhirendra Kumar
     

Homebuyers' Body Objects to Realty Act Interpretations by Madhya Pradesh, Punjab

Publication: ECONOMIC TIMES Date : 08 MAY 2017
Mumbai   `Fight for RERA' says regulators have given builders relaxations in ongoing projects A pan-India homebuyers' pressure group, `Fight for RERA', has objected to the interpretation of Real Estate Regulatory Act
     

Realtors turn to lawyers to sail through RERA shake-up

Publication: BUSINESS STANDARD Date : 08 MAY 2017
With the Real Estate (Regulation and Development) Act, or RERA, in place in several states, property developers are increasingly reaching out to lawyers to comprehend the law, which has strict rules and provides harsh penalties for violations.
     

6 rules in RERA that will stop builders from delaying delivery of your dream home

Publication: ECONOMIC TIMES Date : 08 MAY 2017
The delay in possession of their homes has been the biggest concern for the buyers of the real estate properties.
     

Builders told to pay 10% interest on delayed possession

Publication: ECONOMIC TIMES Date : 08 MAY 2017
NEW DELHI: Buyers of delayed housing projects will get interest on the invested amount for the delay period at the Real Estate Regulatory Authority's (RERA) prescribed rate as against 5 per sq feet to 10 per sq feet contracted

 AFFORDABLE HOUSING  NEWS

     

Expensive land keep top builders away from affordable housing

Publication: DNA Date : 08 MAY 2017
Despite weak market conditions and recent government sops, many of the big names in the realty industry continue to stay away from low-cost housing.

 LAND BILL NEWS

     

Parliamentary panel to debate sticking points on land bill after a year

Publication: HINDUSTAN TIMES Date : 08 MAY 2017
The parliamentary joint panel, which is reviewing the legislation, will meet to debate the social impact assessment, one of the biggest bones of contention between the government and the Opposition.
     

Government eyes green zone for housing

Publication: THE ASIAN AGE Date : 08 MAY 2017
Mumbai: Maharashtra government is likely to open green zones in the city to pave a way for constructing affordable houses in Mumbai.

 HC NEWS

     

Constant vigil a must to save mangroves, says high court

Publication: TIMES OF INDIA Date : 08 MAY 2017
Mumbai: Judicial activism shown by the Bombay high court has come to the rescue of mangroves on a three-acre plot in Thane district. The mangroves had been destroyed by illegal constructions three years ago.
     

ROW OVER OC - HC takes over 4 floors of Nagpada highrise

Publication: TIMES OF INDIA Date : 08 MAY 2017
Mumbai: Bombay high court has taken over four floors of a fully-occupied Nagpada highrise, hitting out at the builder for doing nothing to obtain an occupation certificate (OC).

 INFRA NEWS

     

Work on 5 Metro lines to start Dec, 33km route can cut 10k tons of CO2

Publication: TIMES OF INDIA Date : 08 MAY 2017
Mumbai: In a move that will bring the far suburbs closer to the heart of Mumbai, the MMRDA plans to start construction work on five Metro corridors by December 2017.
     

Mumbai’s railway network will take 4 yrs to get better, but project cost has already touched ₹8K-cr

Publication: HINDUSTAN TIMES Date : 08 MAY 2017
It may take four more years to be completed, but the second phase of the Mumbai Urban Transport Project (MUTP-II) has already overshot its budget by Rs3,801 crore — or 89% more than the original cost of the project.

 CITY NEWS

     

SAAMNA HITS OUT - `New housing rule will drive Marathis out of heartland'

Publication: TIMES OF INDIA Date : 08 MAY 2017
Mumbai: The Shiv Sena has reacted strongly against the change of user policy that allows big-ticket housing projects on land earmarked for industrial use. This, Saamna argued on Sunday , will mean loss of the party's electoral base.
     

Onus of project approval, OC on architects

Publication: DNA Date : 08 MAY 2017
Maharashtra government's decision of putting the onus of project approval and occupation certificate for a building on the architect of the project has shaken the architecture fraternity.

 REALTY  NEWS

     

Buyers are picking Kolkata, Chennai, Hyderabad over prime metros. Here’s why

Publication: HINDUSTAN TIMES Date : 08 MAY 2017
In the first quarter of 2017, post-demonetisation, cities that typically see more end-user demand are seeing sales figures soar

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