To Appeal Against MahaRERA’s Orders, Go To The Tribunal!
On 4th May 2018, the Maharashtra Real Estate Regulatory Authority Appellate Tribunal was set up by our honorable Chief Minister Devendra Fadnavis. Under the law, all appeals against the orders passed by Maharashtra Real Estate Regulatory Authority (MahaRERA) will be heard at the tribunal. The proposal to form a tribunal has been accepted by the CM and official orders shall be passed in a couple of days.
Mumbai Mirror Home Fair 2018 Property Expo Is Here!
Head straight to the Property Expo in Navi Mumbai for buying your dream home! This time, at the Home Fair 2018 exhibition there are 17 participants with 21 stalls. Some of the popular exhibitors showcasing their real estate projects are Kamdhenu Realtors, Indiabulls, Akshar Group, Paradise Group, Tricity, etc.
Date: 14th and 15th April 2018
Timing: 11 am to 8 pm
Venue: Main Atrium
Seawoods Grand Central Mall,
Only 8% Of Urban Goal Met For PMAY!
As per the statistics received on 22nd March 2018, around 8% or 3 lakh out of 40.6 lakh targeted houses have been constructed under the Pradhan Mantri Awas Yojana (PMAY) for urban category. The situation for rural category is better in comparison to the urban as 30% or 28.8 lakh out of 95.4 lakh targeted houses have been completed.
MHADA Redevelopment And SRA Projects Under RERA!
The government is planning to bring MHADA redevelopment and SRA projects under Real Estate Regulation and Development Act (RERA). In Mumbai, 85% of the total construction involves redevelopment so the move is certainly going to bring cheer to Mumbaikars. The law will provide protection to MHADA tenants as well as slum-dwellers who opt for redevelopment schemes.
MahaRERA Panel Resolves 6 Disputes In A Day!
For the first time, a conciliation panel that was set under MahaRERA authority has resolved six disputes on 10th March 2018 between flat buyers and builders. The disputes were resolved before a formal complaint was filed at the MahaRERA authority. Housing experts say that if issues are settled across the table at conciliation stage then the burden on RERA will reduce considerably.
For Plots Of One Acre, 20% Homes For Poor A Must!
The state government’s notification issued on 27th Feb 2018 has bought a boost to Pradhan Mantri Awas Yojana or affordable housing scheme. As per the notification, it is mandatory for all real estate developers to build 20% affordable homes for EWS and LIG category if their project is been developed on a plot that measures one acre or more. This rule will be applied to cities with a population of more than 10 lakhs. However, Mumbai has been exempted from the rule. The new rule will be applicable to Nave Mumbai, Thane, Pune, Nashik, and Nagpur.
Home Loans Have Become Costlier!
Some of the top lenders of home loans in India like ICICI, State Bank of India, and PNB have increased their lending rates. On 1st March 2018, SBI increased their marginal cost of lending rate by 20 basis points. So, home buyers will have to spend more money for buying their dream home.
CREDAI-MCHI Property Fair – 2018 Thane Is Here!
Save your dates for the upcoming CREDAI-MCHI 2018 property fair in Thane, which is going to be held on 8th to 11th February 2018. The timings for the fair are 10:30 am to 8:00 pm. Venue is: Highland Gardens, Near Kapurbawdi Junction, Dhokali Naka, Thane West. See you there!
Cheap Housing In Green Zones!
As per the news on 3rd February 2018, the green zones and no development zones (NDZs) have been selected by the Centre to construct affordable housing under the Pradhan Mantri Awas Yojana (PMAY). Under the PMAY, the state has a target of creating 19.4 lakh affordable houses by the year 2022. The FSI for green zone and NDZs has been fixed at 1 in comparison to other areas that has an FSI of 2.5.
Home Prices Of MMR Fall By Over 10%!
As per the Knight Frank India Report that was released on 10th January 2018, the flat prices of MMR (Mumbai Metropolitan Region) have fallen by over 10%. This has happened for the first time in ten years. As the drop in residential prices is considerable, investors should grab the opportunity and plan to invest in real estate projects.
3 Day Harbour Line Block!
Work on the new Nerul-Belapur-Uran corridor has begun, and due to this Central Railway will cancel 104 services. On 23rd and 24th December, there will be irregular services between Panvel-Belapur, Nerul-CST, CST-Vashi, CST-Mankhurd. On 25th December, there will be a megablock with Nerul-Panvel services till 3 pm on harbor, trans-harbour lines. The Panvel-Kharghar, Nerul-CST trains will be irregular. However, commuters can change trains for reaching their destinations. There are 100 special trains that will run on all 3 days.
Mahindra Happinest Home Fest Is Here!
If you are looking for affordable housing, then here is a chance to rejoice! The Mahindra Happinest Home Fest event is been held on 16th and 17th December 2017, at Metro Mall, Borivali East. Timings for the event are 10 am to 5:30 pm. You can book your home on the spot by visiting the fest. Moreover, you can even avail amazing offers on your dream home. So, save the dates!
The Taj Hotels Can Rebuild Sea Rock Hotel Again!
In the 1993 Mumbai serial blasts, Sea Rock hotel was badly hit and was eventually razed in 2010. On 30th October 2017, the project acquired clearance and on 12th December 2017, the minutes were finalized by the Maharashtra Coastal Zone Management Authority (MCZMA) regarding rebuilding Sea Rock hotel at Bandstand, Bandra. The hotel will consist of 30 storeys, which comprises of a three-tier basement, guest rooms from 7th to 29th floor, six floors of common amenities, and a swimming pool on the 31st floor.
Government has cleared the 571 crore plan to clear Deonar!
Due to the numerous fires in Deonar dumping ground, the area around had seen a steep fall in the real estate market. On 8th December 2017, the government cleared the Rs.571 crore plan to clear Deonar dumping ground. This is certainly good news for real estate developers as well as investors. If all goes according to the plan, the BMC will scientifically treat the towering mounds of garbage at Deonar dumping ground and clear the 132 hectares of land within 10 years.
MahaRERA has ordered to finish Mira Road project!
The Tanvi Eminence Phase 1 and Phase 2 project of over 500 flats in Kashimira, Mira Road that was stalled since 2013 has to be completed by December 2019, as per the orders of MahaRER6 on 7th December 2017 . The news has certainly bought happiness to the buyers who have been waiting for a home since so many years.
MahaRERA Expanded Scope Of Reasons For Builders!
For the first time, MahaRERA has expanded the scope of reasons beyond a builder’s control. So, if there is a justified delay in giving possession of a flat to the buyer then the builder cannot be held liable. With this news, Real estate developers certainly have a reason to rejoice!
Sahara’s Aamby Valley is going to be auctioned again!
On 23rd November, 2017, The Supreme Court has appointed a receiver to manage Sahara’s Aamby Valley properties. As the earlier attempt to auction the property failed, SC has directed its fresh auction. Aamby Valley is Sahara’s most valuable property. It comprises of luxurious resorts, airport and man-made lakes. The property is spread over 10,000 hectares and is located near Pune.
BMC Has Allowed Access to Terraces in Lifts!
In a first, BMC is making common terraces of all buildings accessible through staircases as well as lifts. On 20th November, 2017, BMC Commissioner Ajoy Mehta approved the proposal to allow lifts to reach till the terraces of the buildings. This will make it easier for elderly and differently abled people to access the terraces. The existing city structures can too avail this facility by submitting a structural stability certificate to the civic officials.
MHADA is Building 5,000 New Flats in Goregaon!
MHADA (Maharashtra Housing and Development Authority) is inviting tenders to build 5,000 new flats in Goregaon West. By 2020, these affordable flats will be ready on an 18-acre plot in Goregaon. This is one of the biggest schemes that MHADA has come up with in recent times. So, keep an eye on them!
CREDAI-MCHI Maha Property Expo is back!
The CREDAI-MCHI Maha Property Expo is here and as this is the first one post RERA, so it is certainly going to be a special one! There is an array of properties to choose from in the expo. Whether you are looking for a luxury home or an affordable housing, you will find it here! See you there!
Dates: 16-19 Nov. 2017
Venue: MMRDA Grounds, BKC
Time: 10:30 am to 8 pm.
Lottery For 819 Mhada Flats!
On 10th Nov, 2017 at Bandra’s Rangsharda Auditorium, lottery will be conducted by the Mumbai wing of the Mhada housing board. Mhada flats were supposed to provide low-cost housing. However, this time 338 flats have been built for high-income group. Only 8 small houses have been built for economically weak section category, while 192 are for lower-income groups and about 280 flats are for middle-income groups.
CM Lays Foundation Stone For New Palghar Township!
Chief Minister Devendra Fadnavis laid down the foundation stone for new Palghar Township on 8th Nov 2017. The Township is going to be developed by CIDCO, which is spread over 440 hectars. It is a Rs 3,800 crores project that will include government offices, police headquarters, Zilla Parishad office, collectors office besides other infrastructure like roads, housing for various economic sections, parking spaces, etc.
RERA Centre In Mulund!
Mumbai Grahak Panchayat has opened a RERA Complaint Guidance Centre in Mulund. The Centre will help real estate buyers to understand the provisions of Real Estate (Regulation and Development) Act 2016. Moreover, it will facilitate filing complaints on the online portal of regulatory authority Maha-RERA. The Centre started from 7th Nov 2017, Tuesday, at
Sharda Sadan, Gala No 8, Hanuman Chowk, Opp. Navghar Road Police Station, Mulund (East).
Times Property Home Fair!
The Times Property extends special invitation for you to visit their 15th Home Fair 2017 showcasing over 200+ projects to suit your budget and buy your dream home.
11th and 12th Nov 2017.
Bombay Exhibition Center
Hall No.7, NESCO Center, W.E. Highway, Opp. Mahananda Dairy, Goregaon (East).
Timing: 10:30am to 7:30pm. Entry Free.