06TH FEBRUARY 2020 NEWS

MCHI NEWS

Real estate sector hopes government will take policy steps post-budget

Publication: MUMBAI MIRROR Date : 02 FEBRUARY 2020

The real estate sector on Saturday reacted with cautious optimism to the Budget 2020, expressing its disappointment with lack of big-ticket announcements to revive the slow dow

State government may slash Mumbai's ready reckoner rate

Publication: FREE PRESS JOURNAL Date : 06 FEBRUARY 2020

The real estate sector has been struggling to survive because of the economic slowdown as well as the Goods and Services Tax (GST) and demonetisation.

CITY NEWS

Mumbai: BMC To Bring In Transparent Property Tax Rules Soon

Publication: MID-DAY Date : 02 FEBRUARY 2020

The Brihanmumbai Municipal Corporation (BMC) has set up a committee to reform the norms under which property taxes are charged. The BMC officials said the new rules will be to ensure maximum recovery of bills from citizens, unlike the current system where the outstanding amount increases every year.

Bridges over bridges to save Mumbai the pain of demolitions

Publication: MUMBAI MIRROR Date : 06 FEBRUARY 2020

British-era bridges over rail tracks to be turned into walkways with new cable-stayed motorable overpasses arching over them Maha Rail says it should be able to save up to five heritage bridges; BMC approves plan, tenders to be floated in the next couple of weeks

₹5,600cr thrust for bullet train, but no new project for city

Publication: TIMES OF INDIA Date : 06 FEBRUARY 2020

Mumbai: Giving a big boost to the Mumbai-Ahmedabad bullet train, the railway budget has allocated Rs 5,600 crore for the project like last year. Besides, the project is likely to get Rs 5,000 crore as contribution in the form of equity share of Gujarat and Maharashtra governments and loan from Japan International Cooperation Agency, up from Rs 1,000 crore last year.

07TH FEBRUARY 2020 NEWS

RBI NEWS

RBI goes for no rate cut, but loans to become cheaper — Here’s why

Publication: FINANCIAL EXPRESS Date : 07 FEBRUARY 2020

Shrugging off its inability to trim the repo — due to high inflation — Reserve Bank of India (RBI) on Thursday announced several measures to push growth and lower interest rates in the system. It said it would lend Rs 1 lakh crore of one-year and three-year money to banks at the repo rate 5.15% so they would have durable funds at a softer rate.

‘Masterstroke’: Even without rate cut, RBI makes loans cheaper

Publication: MINT Date : 07 FEBRUARY 2020

Today's announcements by the RBI may marginally reduce the interest rates on housing and auto: Analysts. RBI also announced measures that will allow lenders to borrow cheaply from the central bank

Realtors happy with relief, but wanted rate cut

Publication: THE ASIAN AGE Date : 07 FEBRUARY 2020

Chennai: The Reserve Bank provided some relief to the realty sector by extending asset downgrade of commercial project loans by a year and allowing scheduled commercial banks to provide incremental credit to the residential sector.

CITY NEWS

Housing dept seeks FDI to push Mhada, SRA projects

Publication: HINDUSTAN TIMES Date : 07 FEBRUARY 2020

In a bid to push redevelopment of Maharashtra Housing and Area Development Authority’s (Mhada) cessed buildings and Slum Rehabilitation Authority (SRA) projects, the state housing department is seeking foreign direct investment (FDI) in government-backed housing projects.

Metro invites names for stations, hopes to earn ₹36cr annually

Publication: TIMES OF INDIA Date : 07 FEBRUARY 2020

Mumbai: Mumbai Metropolitan Rail Corporation (MMRC) is expected to earn around Rs 36 crore annually by granting station branding rights on the 32.5km Cuffe Parade-Seepz Metro 3 underground corridor. Twentyeight organizations expressed interest in naming rights, with many showing interest in multiple stations.

Only cluster redevpt for Mhada layouts

Publication: TIMES OF INDIA Date : 07 FEBRUARY 2020

Mumbai: Housing minister Jitendra Awhad on Thursday said eligible slum dwellers will continue to be entitled to 300 sq ft houses under the slum rehabilitation scheme now and ally Congress’s demand for 500 sq ft tenements cannot be implemented unless an impact assessment study is done.

REALTY NEWS

Stressed commercial realty projects get relief from RBI

Publication: TIMES OF INDIA Date : 07 FEBRUARY 2020

Mumbai: In a major relief for developers of commercial real estate (CRE), the Reserve Bank of India (RBI) has allowed banks to restructure loans by delaying the completion date. This means that in the case of stressed borrowers, banks can give them more time to repay without classifying the developer as a defaulter, or the loan as a non-performing asset (NPA).