RERA NEWS

State government appoints officials for MahaRERA’s appellate tribunal

Publication: THE ASIAN AGE Date : 09 MAY 2018

Mumbai: The appellate tribunal for Maharashtra Real Estate Regulatory Authority (MahaRERA) has finally been formed after one year of implementation of the RERA law.

How RERA change the real estate landscape

Publication: FINANCIAL EXPRESS Date : 09 MAY 2018

RERA has been a potent instrument in addressing some of the pertinent issues afflicting the sector. Amongst them, the impact is most visible in terms of completion/deliveries of projects

INFRA  NEWS

Nearly 50% of pillars ready, Metro 2A to start in 2020

Publication: TIMES OF INDIA Date : 06 MAY 2018

MUMBAI: Construction of nearly 50% of piers for the 18.6 km-long Metro 2A elevated corridor between DN Nagar and Dahisar via Link Road has been completed, an MMRDA official said.

CITY NEWS

HC allows state to share in its leaseholders’ profit

Publication: TIMES OF INDIA Date : 09 MAY 2018

Mumbai: In a major boost to the state’s coffers, the Bombay high court has upheld the validity of a recent law which permits the collection of premium, transfer fees and a share of profits over a change of assignment of plots taken on lease from the government.

Bombay high court upholds State’s power to recover ‘unearned income’ on leased lands

Publication: HINDUSTAN TIMES Date : 09 MAY 2018

The Bombay high court has upheld the state government’s power to levy and recover ‘unearned income’ if lease-hold rights in government lands are transferred or assigned to another person or entity.

Mumbai civil court get stricter action against illegal constructions in South Mumbai

Publication: DNA Date : 09 MAY 2018

The city civil court has come down heavily against illegal constructions in Mumbai's B ward and C ward — that is Masjid, Dongri, and Pydhonie area.

REALTY NEWS

HDFC to invest Rs 10 billion in stressed asset fund for realty segment

Publication: BUSINESS STANDARD Date : 09 MAY 2018

Housing Finance Development Corporation (HDFC) had also bid for buying out public sector lender Canara Bank's 30 per cent stake in CanFin Homes

GST, bank woes hit India's growth in 2017: UN report

Publication: DNA Date : 09 MAY 2018

The goods and services tax (GST) and the twin balance-sheet problem pushed India's growth rate down to 6.6% in 2017 from 7.1% in the previous year, a United Nations (UN) report said.

Low margins keep developers away from low-cost housing projects

Publication: LIVE MINT Date : 09 MAY 2018

Mumbai: As India rides on the affordable housing wave, large developers are still staying away from building low-cost homes priced below Rs25 lakh, stymied by low margins and infrastructure challenges.