Tag: Maharashtra

IndustryLatest Stories

Maharashtra Minister Proposes Direct Land Purchase Policy for Industries

NAGPUR: In an effort to simplify the land acquisition process for industries, Maharashtra’s Minister of State for Finance, Planning, Agriculture, Labour, Relief, and Rehabilitation, Ashish Jaiswal, has proposed a draft initiative allowing direct land purchases, bypassing the Land Acquisition Act that mandates a fourfold payment rate. Jaiswal’s proposal aims to grant full land ownership to industries, as opposed to the current system which allows for only leased land. Currently, the Maharashtra Industries Development Corporation (MIDC) facilitates land acquisitions for industries. Upon paying the fourfold price, industries can only lease the land, explained Jaiswal. According to the draft proposal, companies looking…

Latest StoriesRera

MahaRERA Offers Physical and Virtual Hearings After HC Order

PUNE: On Saturday, the Maharashtra Real Estate Regulatory Authority (MahaRERA) announced that it provides both physical and virtual options for hearing complaints, allowing parties to appear in person upon request. This statement comes in light of a recent directive from the Bombay High Court urging MahaRERA to reinstate hybrid hearings, emphasizing that access to justice should encompass the option for physical presence. “We regularly offer physical hearings to those who choose this option. While virtual hearings are more favored, we ensure that no one is excluded from attending physically,” a senior official from MahaRERA stated to TOI. The court’s ruling…

Latest StoriesResidential

Mumbai’s July 2025 Property Registrations Hit ₹1,101 Crore

NEW DELHI: In July 2025, Mumbai (under the BMC jurisdiction) registered 12,366 properties, generating ₹1,101 crore in revenue through stamp duty. This represents a year-on-year growth of 3%, spurred by an increase in high-value transactions. Compared to the previous month, property registrations rose by 7%, while stamp duty collections increased by 6%. In the first seven months of 2025, Mumbai saw over 88,426 property registrations, a 4% year-on-year uptick. The associated revenue grew by 13% to ₹7,832 crore. Shishir Baijal, chairman and managing director at Knight Frank India, remarked, “Mumbai’s residential sector is showcasing robust buyer confidence, with monthly registrations…

Latest StoriesRera

MahaRERA Lists 1,244 ‘Under Abeyance’ Projects in Pune

Representative image created by AI PUNE: The Pune district is facing a significant issue with 1,244 real estate projects currently under ‘abeyance’ as designated by MahaRERA, disallowing any new bookings or sales. This status indicates that these projects have either not received completion certificates or have failed to secure deadline extensions, leaving many buyers with their investments in limbo. One impacted buyer, an IT professional after 11 years, has yet to take possession of his apartment in a project located at the Sinhagad foothills. Despite several favorable orders from MahaRERA, the project remains incomplete, and a refund has not been…

IndustryLatest Stories

Property Owners Hope for Regularisation as Maharashtra Scraps Act

PUNE: Thousands of property owners under the Pune Municipal Corporation (PMC) and other civic bodies are expected to receive relief as the government has repealed the Maharashtra Prevention of Fragmentation and Consolidation of Holdings Act (amended in 2015), commonly referred to as the Tukde Bandi law. This legislation imposed restrictions on subdividing land into smaller plots. Revenue Minister Chandrashekhar Bawankule announced during a recent assembly session that the state will now regularize land divisions of up to one guntha (1,089 square feet) made before January 1, 2025. This change will allow property owners to obtain registrations, building permits, and legal…

Latest StoriesResidential

Maharashtra Housing Policy: Homes for All, Slum-Free State

Representative image created by AI MUMBAI: The Maharashtra government’s new housing policy, “My House, My Right,” aims to provide affordable housing for all, redevelop older buildings, and transform slums through public-private partnerships. A Government Resolution for this policy was approved by the state cabinet in May and was released by the Housing Department on Wednesday. The government anticipates an investment of Rs 70,000 crore during the policy’s implementation. With a focus on “Housing for All,” the policy aims for a slum-free state, prioritizing economically weaker, lower-income, and middle-income groups. The government plans to construct 3.5 million houses over five years,…

Latest StoriesRegulatory

SC Approves Adani Cementation’s Removal of 158 Mangrove Trees

(Representative Image) The Supreme Court has upheld the Bombay High Court’s decision allowing Adani Cementation to remove 158 mangrove trees for the construction of a jetty project along the Amba River in Maharashtra’s Raigad district. This project, which occupies an area of 1.26 hectares within the Coastal Regulation Zone (CRZ) designated for mangrove forests, is intended to facilitate the transportation of cement and other materials via waterways, alongside a conveyor corridor and access road to support a cement grinding and fly ash processing unit and a backup storage unit in Shahapur and Shahabaz. It aims to meet the increasing cement…

Latest StoriesResidential

Housing Societies Face NA Tax Dilemma Without State Resolution

PUNE: Nearly ten months after the state cabinet announced the abolition of the non-agricultural (NA) tax for urban housing societies, confusion continues due to the lack of a formal government resolution (GR). The management of housing societies across the state is uncertain whether to keep paying the tax until official guidelines are issued. The cabinet, led by Eknath Shinde, approved the removal of the NA tax in October 2024, just before the state assembly elections, aiming to relieve residents in urban areas like Pune and Mumbai who have been paying both property tax and NA tax. Housing societies have since…

InfrastructureLatest Stories

Maharashtra Govt Approves Loan Guarantee for Six Metro Projects

MUMBAI: The Maharashtra government has approved a loan guarantee for six Metro projects managed by the Mumbai Metropolitan Region Development Authority (MMRDA), securing continued funding from international financial institutions for ongoing construction. The projects include Metro Lines 5 (Thane-Bhiwandi-Kalyan), 6 (Swami Samarth Nagar-Vikhroli), 9 (Dahisar East-Mira Bhayandar), 10 (Gaimukh-Shivaji Chowk, Mira Road), 11 (Wadala-CSMT), and a 3.3-km underground extension of Metro Line 7 from Gundavali to the international airport via Marol. Many of these projects are either under construction or in advanced planning stages, necessitating significant investment due to their complex elevated and underground structures. This proposal received approval during…

InfrastructureLatest Stories

783 CRZ Buildings Notified, 44 Demolished: Maharashtra Minister

MUMBAI: A total of 783 buildings in coastal regulation zone (CRZ) areas across 10 civic wards have been served showcause notices, with 44 structures already demolished, according to state revenue minister Chandrashekhar Bawankule. Some cases are currently in court. A statement presented to the legislative council regarding the forged map scandal, brought to light by citizen Vaibhav Thakur, revealed that the special investigation team (SIT) formed at the request of the Bombay High Court has arrested 23 individuals, with three more still at large. Of those arrested, 12 are private citizens, two are officers, seven are employees, and two are…