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CREDAI wants clarity on compulsory registration of projects under RERA

Publication: BUSINESS LINE Date : 12 OCTOBER 2019
The Confederation of Real Estate Developers Associations of India (CREDAI-Pune Metro) has said that Real Estate Regulatory Authority (RERA) registration should not be made mandatory for housing projects that have got completion or occupancy certificate before implementation of the RERA Act in Maharashtra.

RERA cites Contract Act breach in refund order

Publication: MUMBAI MIRROR Date : 12 OCTOBER 2019
The Maharashtra Real Estate Regulatory Authority (Maha-RERA) has cited violations of the Indian Contract Act provisions for the first time to direct the developer of Sheltrex Smart Phone City in Karjat to refund a sum of Rs 5.71 lakh with interest from 2010 to the homebuyer for the 10-year delay in giving possession of the flat.



Colaba waits for better water supply, redevpt of old bldgs

Publication: TIMES OF INDIA Date : 12 OCTOBER 2019
Mumbai: It is the seat of power — Mantralaya, Assembly, high court, BMC headquarters — and the beating heart of India’s financial capital, hosting the Reserve Bank of India, a mint, headquarters of several banks and LIC, and the Bombay Stock Exchange. It is home to the city’s two Unesco world heritage sites —CSTM, and the Victorian Gothic and Art Deco ensembles around Oval Maidan —

‘How is 165 ha of Aarey not in SGNP buffer zone?’

Publication: HINDUSTAN TIMES Date : 12 OCTOBER 2019
The National Green Tribunal (NGT) on Thursday directed the Union environment ministry to explain the process of demarcating the eco-sensitive zone (ESZ) around Sanjay Gandhi National Park (SGNP).



Slowdown in 3 sectors, dip in imports hit GST collection

Publication: TIMES OF INDIA Date : 12 OCTOBER 2019
New Delhi: The slowdown in three sectors — automobiles, cement and iron & steel — along with falling imports have taken a toll on GST collections, even as the services sector has managed to hold firm.




Pune: Two builders booked for flat delivery delay under redevelopment scheme

Publication: TIMES OF INDIA Date : 13 OCTOBER 2019
PUNE: Two directors of M/s Darode Jog Builder Private Limited, a city-based construction company, were booked on Friday after a complaint was lodged claiming that the duo cheated 18 retired bank officials of Rs2.29 crore by failing to deliver them their flats in a redevelopment scheme on Paud Road in Kothrud.




Ghatkopar society saves 100% in power bills

Publication: HINDUSTAN TIMES Date : 14 OCTOBER 2019
An 11-storey apartment complex in Ghatkopar (East) has been using solar energy to power the electricity requirement of its common areas since March, which has brought down their power bills to zero.

MSRDC targets a Rs 700-cr windfall from its SoBo land

Publication: MUMBAI MIRROR Date : 14 OCTOBER 2019
After Income Tax Department, MSRDC wants to cash in on its prime south Mumbai property The corporation’s boss, Radheshyam Mopalwar, writes to state govt seeking to use the 67,000 sq ft plot on Nepean Sea Road for residential and commercial purposes



‘Building smart cities starts with people, not technology’

Publication:MINT Date : 14 OCTOBER 2019
‘By rethinking the ways in which space is used, we could optimize and innovate offices, homes and urban infra,' says Emma Greer, senior architect at Italy-based design firm Carlo Ratti Associati

Construct or buy a residential house to get LTCG exemption under Section 54

Publication:MINT Date : 14 OCTOBER 2019
You would need to construct a residential house on the land within 3 years, after the date of transfer of the erstwhile residential property, for claiming the tax exemption under Section 54 As the monthly rental is equal to ₹50,000, the TDS deduction provisions are not currently applicable to you




Maharashtra and Gujarat lead 40% year-on-year spike in RERA registrations

Publication: BUSINESS STANDARD Date : 15 OCTOBER 2019
There has been a 40 per cent growth across the country in project registrations under the Real Estate Registration Act (RERA) in a year, from 32,306 projects at the end of September 2018 to 45,307 projects as on October 5, a news report said.

RERA sees 40% rise in real estate project registrations in a year; Maharashtra tops the list

Publication: ZEE BUSINESS Date : 15 OCTOBER 2019
After nearly two-and-half years since Real Estate (Regulation and Development) Act 2016 (RERA) came into effect across the country to regulate the Indian real estate sector, there has been a 40 percent growth in project registrations under RERA in a year across the country.



Oct air quality better than 2018: SAFAR

Publication: HINDUSTAN TIMES Date : 15 OCTOBER 2019
Mumbai: The city’s air quality during the first two weeks of October 2019 has been much better than last year, revealed data published by the System of Air Quality Weather Forecasting and Research (SAFAR), primarily owing to intermittent rain that continued this month.

Metro Bhavan work begins at Aarey Colony; greens fume

Publication: HINDUSTAN TIMES Date : 15 OCTOBER 2019
The dairy department, which manages Aarey Milk Colony, has permitted the Mumbai Metropolitan Region Development Authority (MMRDA) to begin construction work for the 32-storey Metro Bhavan, which is likely to require the felling of at least 70 trees on the allotted plot.



‘Implementation of Model Tenancy Act will ensure growth of institutional rental housing’

Publication: FINANCIAL EXPRESS Date : 15 OCTOBER 2019
India has around 11.09 million urban vacant housing units, of which 78 per cent are in nine states and the National Capital Territory (NCT) of Delhi, according to a report by Knight Frank, a real estate consultancy firm and Khaitan & Co, a law firm.

Net rental yields in India one of the lowest in the world: Report

Publication: MINT Date : 15 OCTOBER 2019
The government’s proposed Draft Model Tenancy Act 2019 would be key in institutionalising the rental housing market and boosting the yield going forward Rental yield across eight big cities has remained static over the past few years

Unesco honours conservation of 3 city icons

Publication: TIMES OF INDIA Date : 15 OCTOBER 2019
In a singular recognition of Mumbai’s heritage conservation movement, efforts made to spruce up three city landmarks — Keneseth Eliyahoo Synagogue at Kala Ghoda, Gloria Church in Byculla, and Flora Fountain — have won this year’s Unesco Asia-Pacific Awards for Cultural Heritage Conservation.


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