Tag: Mumbai

IndustryLatest Stories

Maharashtra Forms Panel to Review TDR Relief for Redevelopment

PUNE: The state government has established a 12-member committee to re-survey river flood lines across Maharashtra, including areas in Pune and Pimpri Chinchwad, nearly a year after making this commitment in the assembly. The panel is expected to submit its report within two months. The government has tasked the committee with reviewing current regulations and suggesting amendments to the Unified Development Control and Promotion Regulations (UDCPR) to facilitate the use of Transfer of Development Rights (TDR) for properties built within flood lines prior to the irrigation department’s demarcation in 2009. A significant number of properties, particularly in Pimpri Chinchwad, were…

Latest StoriesRera

Homebuyers Await Recovery Warrants Two Months After MahaRERA SOP

PUNE: Homebuyers seeking compensation from defaulting developers find themselves in a state of uncertainty, as execution of recovery warrants remains stalled despite the Maharashtra Real Estate Regulatory Authority (MahaRERA) implementing a new standard operating procedure (SOP) two months ago aimed at expediting the process. Among those affected are 80-year-old Arun Seth and his wife, who invested over Rs 50 lakh in a housing project back in 2014. Even though recovery warrants were issued in their favor years ago, local revenue authorities have yet to act. “Orders are issued, but nothing gets executed. It’s unclear if the developer still has any…

Latest StoriesRegulatory

Bombay HC: Co-op Societies Can’t Resolve Flat Succession Disputes

MUMBAI: The Bombay High Court criticized the divisional joint registrar of cooperative societies (Mumbai) for overturning an order that granted a man membership in a Peddar Road housing society. On February 9, Justice Amit Borkar stated that the authority under the Maharashtra Co-operative Societies Act is responsible for membership regulation, clarifying that it is not a civil court dealing with inheritance disputes. “The revisional authority exceeded its jurisdiction by reversing the membership order based on grounds outside the limited scope of such proceedings,” he remarked. In 1974, Pravinkumar Dave’s father nominated him as a minor for a flat and garage…

IndustryLatest Stories

2,000 Mumbai Redevelopment Projects’ Debris Reported Missing

Representative AI image MUMBAI: A civic investigation has revealed that tonnes of construction debris from nearly 2,000 redevelopment projects intended for designated disposal sites have not been reaching their intended locations, according to officials from Mumbai Mirror. Environmentalists suspect that this waste has been sold to land mafia for illegal encroachment on Mumbai’s mangrove and wetland areas. This significant environmental oversight came to light when the Brihanmumbai Municipal Corporation (BMC) examined documents and discovered that builders had repeatedly listed just seven sites as waste disposal locations for over 2,000 projects. “There is no way that so much debris could fit…

Latest StoriesRegulatory

Slum Authority Faces Claims of Irregularities in Dharavi Project

MUMBAI: The Slum Rehabilitation Authority (SRA) has initiated an investigation led by the deputy collector (Encroachments) following allegations that demolished huts are being rebuilt and that new occupants are being declared eligible for free housing under the Dharavi Redevelopment Project (DRP). Activist Baburao Mane, a founder-member of Manohar Joshi College, informed the SRA that occupants have moved back into partially demolished huts, some of which don’t appear on survey maps. He pointed out instances where structures, including a temple labeled as a hut and a staircase recently fitted with a door, are being falsely classified as eligible for free housing.…

Latest StoriesRegulatory

SC Resolves 7-Year Housing Dispute, Upholds ₹1.82 Crore Payout

MUMBAI: The Supreme Court has dismissed a Special Leave Petition (SLP) filed by Keyana Estate, an associate of the Kalpataru Group, concluding a seven-year legal dispute in favor of homebuyer Paresh Parihar from Goregaon. Parihar had booked a flat in the Kalpataru Radiance project in Goregaon (West) in 2013, with initial possession expected by December 2016, but he only received it in January 2024. As a result of this ruling, the developer is obligated to pay approximately Rs 1.82 crore in interest to the homebuyer due to the delays. The dispute began when Parihar and his wife paid over Rs…

Latest StoriesRegulatory

Ex-Lodha Developer Director in ED Custody Until Feb 20

MUMBAI: On Friday, a special PMLA court in Mumbai remanded Rajendra Lodha, a former director of Lodha Developers Ltd, into Enforcement Directorate (ED) custody until February 20, in connection with a money laundering case involving ₹85 crore. The ED’s case is founded on allegations of cheating and forgery, as detailed in a FIR filed by the Mumbai police’s crime branch under the Bharatiya Nyaya Sanhita (BNS). Rajendra Lodha was arrested by the crime branch in September of last year and has since been held in judicial custody. The ED officially took him into custody on Thursday for the money laundering…

Latest StoriesRegulatory

ED Arrests ex-Lodha Developers Director in ₹85 Cr Money Laundering

MUMBAI: The Enforcement Directorate (ED) has formally arrested Rajendra Lodha, a former director of Lodha Developers Limited, in connection with an alleged money laundering case involving ₹85 crore. The ED’s case is built on accusations of cheating and forgery reported by the Mumbai police under the Bharatiya Nyaya Sanhita (BNS). Lodha was previously arrested in a related crime branch case back in September and has remained in judicial custody. During the investigation, the ED presented him to a special court overseeing cases filed under the Prevention of Money Laundering Act (PMLA), where he was officially placed under arrest. He is…

Latest StoriesRegulatory

Mumbai launches e-auction for six properties over ₹455 crore tax

MUMBAI: The Mumbai civic body has initiated e-auction proceedings for six properties due to unpaid property taxes totaling ₹455.48 crore. The Brihanmumbai Municipal Corporation (BMC) has also issued final notices to two additional defaulters, as stated in their release. “Despite receiving several notices, the property owners have failed to pay the outstanding amount of ₹455,48,94,374, including penalties. Consequently, the e-auction process will begin for six properties located in Goregaon (West), Bandra (West), Dahisar, Parel, Mazgaon, and Malad-Kurar village,” the release detailed. The two properties in the Fort area of South Mumbai have been given 21 days to settle their dues,…

Latest StoriesRegulatory

Bombay HC Upholds Deemed Conveyance for Commercial Society

MUMBAI: On Wednesday, the Bombay High Court upheld a deemed conveyance awarded by a deputy registrar to a commercial cooperative society in Andheri East. The court ruled that a law established for public interest cannot be superseded by a contract between a builder and flat purchasers that allows the builder to retain development rights over the land. Krishna Developers challenged the deemed conveyance granted to Corporate Centre Premises Co-operative Society Ltd., which represents the unit owners of three buildings registered in 2007. The builder’s lawyer argued for executing the conveyance while reserving specific rights under the agreements with flat purchasers.…