MCHI NEWS

Lifesaving jab for builders as ready reckoner rates to go down

Publication: MUMBAI MIRROR Date : 05 FEBRUARY 2020

Here’s something to cheer about in the middle of the economic gloom. The state government is set to lower the ready reckoner rates, which have remained unchanged in Maharashtra for the past two fiscals. The move will lead to reduction of stamp duty on property purchase and act as a lifesaving jab to the real estate sector in the state.

BUDGET NEWS

BMC, The Richest Civic Body, Is Getting Richer At The Cost Of Projects

Publication: MID-DAY Date : 05 FEBRUARY 2020

BMC's FDs in banks see exponential rise - going from R23k cr in FR 2010-11, to R78k crore in Dec 2019; average annual spending on projects remains Rs 4,500 cr.

BMC unveils Rs 33,441 cr budget for 2020-21; puts freeze on recruitment

Publication: THE INDIAN EXPRESS Date : 05 FEBRUARY 2020

The 2019-20 budget estimate for capital expenditure was Rs 11,480.42 crore, brought down to Rs 10,785.08 crore in the revised estimates, of which BMC has spent Rs 6836.79 crore until January 2020.

Revenue Generation Now An Uphill Task For Mumbai Civic Body

Publication: MID-DAY Date : 05 FEBRUARY 2020

While first five years of the decade saw 55% increase in income, BMC was hit by the real estate crisis in the second half of the decade

VISION 2030: A HAPPY MUMBAI

Publication: MUMBAI MIRROR Date : 05 FEBRUARY 2020

BMC commissioner Praveen Pardeshi presented this year’s civic budget, with a focus on improving the happiness quotient among citizens. The civic chief unveiled his vision of Mumbai 2030 to transform Mumbai into a happy and developed city. Introducing the term, ‘citizens happiness index’,

Vision 2030 in BMC budget

Publication: HINDUSTAN TIMES Date : 05 FEBRUARY 2020

With an aim to make Mumbai happy, the Brihanmumbai Municipal Corporation (BMC), in its budget 2020-21 on Tuesday, came up with Vision 2030 – civic chief Praveen Pardeshi’s road map to better the city’s ‘happiness index’ through efficient civic services.

CITY NEWS

Decision to waive property taxes of houses up to 500 square feet hit BMC’s revenues: Municipal Commissioner Praveen Pardeshi

Publication: THE INDIA EXPRESS Date : 05 FEBRUARY 2020

Municipal Commissioner Praveen Pardesi Tuesday said policy decisions, including the much-vaunted decision to waive property taxes of houses measuring up to 500 square feet, had led to a decline in Brihanmumbai Municipal Corporation’s revenues.

Undersea tunnel: New idea mooted to reach site of Shivaji memorial in Arabian Sea during monsoon

Publication: THE INDIAN EXPRESS Date : 05 FEBRUARY 2020

Sources said that multiple options had been considered to ferry tourists to the site, other than by boat. These options included building a ropeway, underwater tunnel, elevated monorail and pedestrian bridge. Each idea had been termed unviable.

REALTY NEWS

Four factors that may rekindle buyers’ interest in real estate

Publication: MINT Date : 05 FEBRUARY 2020

Builders are now focusing on selling affordable homes and completed units as they are more in demand The end consumer is the key beneficiary of consolidation across stakeholders in real estate sector