Tag: Maharashtra

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…

IndustryLatest Stories

Maharashtra Extends Nazul Land Amnesty Scheme for One Year

NAGPUR: The Maharashtra government has decided to extend its special amnesty scheme for nazul land leases for another year. This move comes after Nagpur Central MLA Pravin Datke emphasized the positive public feedback and significant revenue generation from the scheme. The extension was confirmed during a meeting led by Revenue Minister Chandrashekhar Bawankule at the state legislature on Thursday. Initially launched on March 16, 2024, the scheme enables residents in the Nagpur and Amravati regions to convert nazul land leases into permanent Class-1 ownership rights by paying only 2% of the current market rate, a decrease from the previous 5%.…

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Maharashtra Minister: RERA Can Act Against Developers

MUMBAI: Maharashtra Minister Uday Samant informed the assembly on Thursday that the Real Estate Regulatory Authority (RERA) has the authority to enforce actions against developers for any violations. Responding to a calling attention motion raised by MLA Gajanan Lavate, he emphasized that registration under RERA is a mandatory requirement for all developers. Complaints concerning building permissions in the Akot Municipal Council area were addressed during a hearing on December 7, 2022, held at the Akola District Collector’s office. The minister mentioned that the applicant requested construction permission on March 31, 2021, including documents related to land demarcation (gunthewari) from 2007-08.…

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Maharashtra panel suggests 10% extra area for self-redevelopment

MUMBAI: A government-appointed committee has proposed a 10% increase in carpet area for residents of housing societies who choose the self-redevelopment scheme, aiming to encourage self-redevelopment. Self-redevelopment allows residents to manage the construction of their own buildings without a builder, retaining all construction benefits and profits that would normally go to developers. On Monday, BJP MLC Pravin Darekar submitted the committee’s report to Chief Minister Devendra Fadnavis at a function in Vidhan Bhavan. The recommendations will be passed on to the departments of housing, cooperatives, and urban development. “The proposal will be endorsed by the cabinet based on departmental suggestions.…

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Maharashtra: No tolerance for illegal constructions, warns deputy CM

MUMBAI: Deputy Chief Minister Eknath Shinde stated in the legislative assembly on Monday that the Maharashtra government will not endorse any illegal constructions and will impose strict penalties on officials found complicit in permitting such structures. Responding to a question from Parag Alavani (BJP) during the Question Hour, Shinde announced that instructions will be given to the Brihanmumbai Municipal Corporation (BMC) commissioner to compile a detailed inventory and categorization of illegal constructions in Mumbai. “Any officer found protecting illegal constructions will face strict action,” warned Shinde, who oversees urban development and housing. Members including Yogesh Sagar, Jitendra Awhad, Dilip Walse…

Latest StoriesResidential

Maharashtra Property Registrations Steady Amid RR Rate Hike

PUNE: Property registrations in Maharashtra have remained consistent, with an average of 3.7 lakh registrations monthly during the first quarter of this financial year, despite the ready reckoner (RR) rate increase implemented on April 1. Monthly revenue collections exceeded Rs 4,000 crore in both May and June. Officials attribute this stability to persistent demand, even with rising transaction costs due to adjusted property valuations. The RR rate hike, averaging 3.9% across various categories, raised concerns among developers and buyers about a potential decline in demand. However, the consistent registration figures indicate that the market has adapted well without notable disruptions.…

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Maharashtra RERA Halts Details of Project in Abeyance

MUMBAI: Home buyers and advocates are facing challenges accessing information on projects currently suspended on the MahaRERA website. Upon attempting to retrieve project details, they encounter a message indicating the project is in abeyance and that associated bank accounts are frozen. Critical information including completion dates, occupancy certificates, approval status, and previous orders is unavailable to home buyers. Advocates argue that without public access to important documents like Form 4, project approvals, and historical MahaRERA or appellate orders, home buyers may struggle to seek legal remedies. Nonetheless, MahaRERA representatives stated that home buyers can request project information directly via email.…

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TDR for Reserved Land Amenities in Nashik City

NASHIK: The Nashik Municipal Corporation (NMC) is set to permit landowners to develop amenities on reserved land in exchange for Transfer of Development Rights (TDR). This initiative aims to enhance the creation of public facilities while compensating property owners. Under this proposal, landowners who develop amenities on their reserved plots can receive TDR, contingent upon securing approval from the planning authority. This measure aligns with the Unified Development Control Promotions and Regulations (DCPR), a statewide policy enacted by the Maharashtra government in December 2020. To manage this process, the civic body’s general body has recently approved the establishment of a…

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MahaRERA Initiates Statewide Verification of Developer OCs

Certainly! Here’s a rewritten version of the content you provided: PUNE: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has launched a statewide verification process for 2,600 Occupancy Certificates (OCs) submitted by developers through its official portal. These certificates are being sent to the relevant planning authorities for validation to prevent any potential discrepancies or forgeries, as reported by officials on Saturday. This initiative follows the repercussions of the Dombivli scam, where developers allegedly utilized falsified approvals to construct illegal buildings across numerous projects. This crackdown is a direct consequence of the 2022 Kalyan-Dombivli Municipal Corporation (KDMC) scandal, which involved 65…