09TH TO 11TH MARCH 2019

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MCHI-CREDAI

09TH MARCH 2019 NEWS

PROPERTY NEWS

     

Now, flats smaller than 500 sq ft need not pay property tax

Publication: TIMES OF INDIA Date : 09 MARCH 2019
Mumbai: With poll dates set to be announced anytime soon, the Maharashtra cabinet, within three days of its Tuesday meeting, gathered again on Friday to clear populist proposals like
     

Property tax sop deprives BMC of ₹400cr revenue

Publication: TIMES OF INDIA Date : 09 MARCH 2019
Mumbai: In a major pre-poll incentive, the Maharashtra cabinet has approved a property tax waiver for houses in Mumbai with carpet area of up to 500 sq ft. The waiver will be applicable retroactively from January 1, 2019 onwards and is expected to hit the BMC’s revenue by around Rs 400 crore per year. tax
     

Houses in city up to 500 sq. ft. exempted from property tax

Publication: THE HINDU Date : 09 MARCH 2019
In its second meeting held in a week, the State Cabinet on Friday cleared the proposal to exempt houses up to 500 square feet in Mumbai from property tax.
     

No property tax for small houses in Mumbai

Publication: THE ASIAN AGE Date : 09 MARCH 2019
Mumbai: Just ahead of the announcement of general elections, the Bharatiya Janata Party-led Maharashtra government, in an attempt to woo Mumbaikars, announced property tax exemption for flats admeasuring up to 500 square feet in the city and suburbs.
     

Mumbai: Government waives property tax on houses up to 500 sq ft

Publication: THE INDIAN EXPRESS Date : 09 MARCH 2019
The proposal of property tax waiver and concession was first announced by Shiv Sena president Uddhav Thackeray during the Mumbai civic body polls in 2017.

CITY NEWS

     

Forest Rights Act claims: Despite steps, progress remains slow

Publication: THE INDIAN EXPRESS Date : 09 MARCH 2019
As of January 31, 2019, nearly 11 months since the long march, of a total of 3,62,502 claims for Individual Forest Rights filed with gram sabhas, only 1,25,681 progressed to the third tier,

REALTY NEWS

     

Home buyers stepping in to bailout stressed real estate developers

Publication: BUSINESS LINE Date : 09 MARCH 2019
Home buyers are increasing resorting to bailing out stuck real estate projects which the developers are unable to deliver for want of funds.

10TH MARCH 2019 NEWS

PROPERTY TAX NEWS

     

‘Big boost’: Builders welcome tax waiver

Publication: MUMBAI MIRROR Date : 10 MARCH 2019
The real estate industry on Saturday welcomed the state’s decision to waive property tax for homes measuring up to 500 sq ft, saying it will make affordable housing more appealing to both builders and buyers.

INFRA NEWS

     

Now, BKC to house helipad to generate revenue for infra projects

Publication: DNA Date : 10 MARCH 2019
To generate revenue for the upcoming infrastructure projects — including the Metro corridors — in the Mumbai Metropolitan Region (MMR),

AFFORDABLE HOUSING NEWS

     

Boom Town

Publication: MUMBAI MIRROR Date : 10 MARCH 2019
Byculla is on the cusp of a transformation, thanks to mega real estate and infrastructure projects, and new cultural hubs coming up
     

Mumbai: Netas at posh Worli housing society to gain from law change

Publication: DNA Date : 10 MARCH 2019
A recent change in a property law that almost went unnoticed promises to benefit a bevy of politicians residing at a posh locale in Worli interested in selling their astronomically priced flats.

11TH MARCH 2019 NEWS

CITY NEWS

     

Hours before election code, govt unveils app to track infra projects

Publication: TIMES OF INDIA Date : 11 MARCH 2019
Mumbai: Chief minister Devendra Fadnavis, who has been on a ribbon-cutting spree since last week, unveiled the MahaVisible app through which ongoing infrastructure projects across cities will be pinned on the state map.
     

Panel to keep check on govt sops for self-redevpt schemes

Publication: TIMES OF INDIA Date : 11 MARCH 2019
Mumbai: A seven-member committee headed by the state housing secretary will oversee the implementation of concessions promised by the government for self-redevelopment of housing societies.

REALTY NEWS

     

The G(i)ST of housing

Publication: DNA Date : 11 MARCH 2019
The move to cut Goods and Services Tax (GST) rates for under-construction residential projects was cheered by the industry and the home buyers. It is expected to lift the demand for the housing sector and eventually reduce the finance cost for developers who are sitting on a pile of unsold inventory.

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