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Bombay High Court have ordered to stop the housing society inquiry ordered by registrar, as complaints which has been made didn’t have support of one-third members of the society. Justice Anoop Mohta said that only due to “some member or one member is against of society or managing committee” that couldn’t be the reason to order an inquiry. “But if application is filed by the obligatory body of society then it is responsibility of registrar to look into the matter and take essential actions” Justice said. According to Section 83 of the Maharashtra Co-operative Societies Act, registrar can—on his own or on the basis of an application by one third members of the housing society or by a person authorized by him— order an inquiry into the constitution, working and financial conditions of a society. ‘‘According to me, not only the registrar but officers who are accountable and have several obligations under the law (and) are suppose to look into the matters of the society on time interva...

-Proof of identity and residence address (passport, PAN card, voter ID, ration card). -Duly filled application form -Last three months’ salary slips -Form 16 -Last six months’ bank statement where salary is credited Processing fee cheque Land-related documents - Khata, no encumbrance certificate and latest property tax receipt Business profile and proof of existence of business in case of selfemployed -Three years’ profit and loss statement, and balance sheet in case of self-employed.

Real estate has always proven to be a good bet over the long haul with phenomenal appreciation.While inflation may bite into your savings, it could favour people who are under the burden of debt. How does inflation favour property investments? Most investors in property take a land or home loan with tenures typically ranging from five to 20 years. In an inflationary economy, whatever the homeowner needs to pay back to the lender will appear very little. Just as your savings will be worth lesser over a long tenure, so will your debts as your income levels would have soared many times . With banks offering home loans at attractive rates, owing a house is affordable for the young, salaried class. Real estate stands out as an ideal investment in an inflationary economy, especially for those nearing their retirement. An exposure to real estate amply diversifies an otherwise low-risk investment portfolio of a senior citizen. Regular rental income from property is a boon for investors a...

The Supreme Court today said the right to property is a constitutional right and government cannot deprive a person of his land in an arbitary manner. A bench of justices G S Singhvi and A K Ganguly said in a judgement that courts should view with “suspicion” the action of the government in acquiring land for private parties in the name of urgency. “Court should not adopt a pedantic approach, as has been done in the present case, and decide the matter keeping in view the constitutional goals of social and economic justice and the fact that even though the right to property is no longer a fundamental right, the same continues to be an important constitutional right and in terms of Article 300-A, no person can be deprived of his property except by authority of law,” Justice Singhvi, writing the judgement, said. The apex court passed the judgement while quashing the acquisition of 205 hectares of agricultural land in Uttar Pradesh”s Gautam Budh Nagar by the state on behalf of the ...

 According to the several reports of analyst and sector watchers that as Mumbai is one the costlier property market in the entire country is expected to remain constant in the near future on 14th April. “The real estate rates may remain constant and it is happening due the lack of supply in the market and constructions prices touching to sky,” Maharashtra Chamber of Housing Industry (MCHI) President Sunil Mantri said in the media conclave of a property exhibition here. “ Rates of construction has increased by 30% particularly in the last fiscal year, and slowdown in real estate market is also cause by the hikes in bank interest rates” Sunil mantri added. And project approvals have also been one the reason in the less supply in the market, he said. Brihanmumbai Municipal Corporation Municipal Commissioner Subodh Kumar said that Government of Maharashtra will soon come out with the guidelines for floor space index (FSI) in the city in the coming month.

A burning cigarette or a minor kitchen fire can compound into a huge, unmanageable fire disaster engulfing your apartment complex. Escaping from high rise buildings that are higher than three storeys is rather difficult unless there fire safety measures in place. In the event of a fire disaster there is not much time for you to explore options. Hence, be prepared for a fire emergency situation and do not be caught off guard. Building evacuation plan:  It takes less than a few seconds for a small flame to snowball into a life threatening fire. Every apartment must conform to certain fire safety norms. Residents must be aware of a at least two fire escape routes. If one exit path is blocked by smoke, the other could come to your rescue. Screens, windows and doors must be easy to open. In case a door is hot to touch, do not venture to open it. Use the alternate fire escape path. Fire drills:  Involve your community in regular fire drills and techniques of handling fire emergen...

AMBITIOUS PLAN MMRDA to seek help from consultants to procure sanctions for projects, take corrective action on policy Alarmed at the lacklustre response to its ambitious rental housing scheme, the Mumbai Metropolitan Region Development Authority (MMRDA) plans to seek help from consultants. “We are looking for consultants who will help us supervise the rental housing projects and provide corrective action to the policy, if necessary,“ said PR Dilip Kawathkar, joint project director, MMRDA. In 2008, the MMRDA had launched the rental housing scheme, which was touted as the panacea to the city’s housing problem. The scheme aimed to create five lakh homes in the next five years, largely on the outskirts of Mumbai. Under this scheme, 160 sq ft flats would be rented out to only bonafide Maharashtrians earning up to Rs5,000 a month for as low as Rs800 per month. Till date, the agency has given 50 clearances to various builders to construct nearly 2.5 lakh rental houses across the Mumbai Metr...

The concept of second homes has always been around, though often restricted to the extremely affluent. It is this class that could afford to have a home away from home, for vacationing or for an occasional weekend relaxation. But lately, the concept appears to have gained widespread acceptance. People are looking for relaxation and research around a year ago showed that within Mumbai and Thane there is a demand for around two lakh second home units and there is a supply of only 5,000 to 6,000 units a year. In the next 20-25 years the demand will be good but the land will not be there. It is a great industry to be in. A lot of developers are expected to enter this industry and people will thus get better and newer products at every level. It is a great industry to be in. Second homes are a different market altogether. People who are taking a property as a second home will, within five to 20 years, take it on as a first home One is the investment proposition. If you see today in terms o...

Affordable homes continue to be out of the common man’s reach in Mumbai. A survey conducted by Liases and Foras has revealed there is a huge demand for one-room and 1BHK houses, but the supply has failed to keep up with it. On an average, the small houses segment has been taking 15 months to sell its yearly stock, while the luxury houses segment has been taking 25. Ideally, houses should be sold within eight months. The survey stated that 1,415 1BHK, 1.5BHK and one-room flats were sold in 15 months against a yearly stock of 26,489 houses. 1,906 houses (2 BHK, 2.5BHK, 3BHK and 3.5BHK) were sold in 25 months against a stock of 60,134. The demand for luxury homes in the city is low. On an average, 2,975 super luxury houses (pent houses and duplex houses) are sold in 35 months against the yearly stock of 3,156. “On an average, it has been taking 35 months to dispose the yearly stock of super luxury houses. The duplex 3BHK section has been taking the highest period of 108 months to sell its...

A Cosmos Realty Corporation - Mumbai, India: Flat for Sale at Borivali (w) : "Flat description : 2 bhk, 770 builtup area, 540 carpet area, kitchen --> furnished, Hall --> furnished with sofa, small dinning table,..."

The problem of redeveloping old and dilapidated cessed buildings in the island city continues to nip at the heels of the Maharashtra Housing Area Development Authority. While officials agree that death traps like Rahim Manzil in Pydhonie, which collapsed early Thursday morning, have to be razed, the ground reality is an altogether different story. More often than not, tenants are at the mercy of the landlord, whose approval and monetary inputs are required before any building repair can go ahead. But the development authority is planning to take the proverbial bull by its horns and introduce an amendment to the Mhada Act, 1976 that will curtail the powers of the landlord. Mhada’s Mumbai Building Repair and Reconstruction Board (MBRRB) has proposed to do away with the provision that states that the landlord’s consent is required before a building can be repaired or redeveloped. If the amendment—currently being discussed in the state housing department—is passed, Mhada will be able to ...

Commercial / Office Space available at Sion Circle Area : 18000/sq.ft. on 2nd Floor Lease : Leave & License for More than 10yrs Rate : On Request For Further Details Contact or Email

Large number of realtors in India showing their interest in Dubai’s real estate market and this is happening only because of Dubai’s real estate market is cheaper than Mumbai. “Comparatively investors can save 60% percent on per square foot in Dubai’s real estate market” DAMAC said. Leading real estate company of Dubai as well as in Middle East DAMAC added that foreign investors is constantly moving towards Dubai’s market as new norms has been introduced like, the new Strata law, which supports home owners. In a statement DAMAC said Indian investors will take the advantage of the opportunities which is now exist in Middle East property market. On an average rate per square foot of USD 264 in Dubai, according to Colliers International, property is now 60 per cent cheaper than in central Mumbai, where the price per square foot is USD 664 as per to Jones Lang LaSalle. “Though confidence was shaken following the global slowdown but still investors are showing their interest in the prope...

It will be at least a decade before Mumbai can realize its dream of a multi-crore Alibaug-Virar corridor, but as a stop-gap measure the state will interlink five national highways—that connect the city to Ahmedabad, Nashik, Ahmednagar, Pune, and Goa—with each other. The project, estimated to cost Rs 350 crore, will be completed in two years.The Mumbai Metropolitan Region Development Authority (MMRDA) will construct roads that will link NH8 (Mumbai-Ahmedabad), NH3 (Nashik-Agra), NH222, (Ahmednagar), NH4 (Mumbai-Pune), and NH17 (Mumbai-Goa). The link roads promise to ease travel time, fuel expenses, road congestion and pollution in Mumbai, Navi Mumbai and Thane. “This is an attempt to limit the entry of vehicles into the highly congested Mumbai and Thane regions. It will reduce travel time between Mumbai, Thane, Nashik and Pune, which is an industrial corridor,” said MMRDA spokesman Dilip Kawathkar. In the first part of the project, MMRDA will construct a two-lane road connecting Shirs...

Land Zone 1 Short description deposits subject to periodic tidal inundation General term tidal flats and beaches Quaternary estuarine and marine deposits subject to periodic inundation by saline or brackish marine waters. Includes mangroves, saltpans, off-shore tidal flats and tidal beaches. Soils are predominantly Hydrosols (saline muds, clays and sands) or beach sand. Land Zone 2 Short description Quaternary coastal sand deposits General term coastal dunes Quaternary coastal dunes and beach ridges. Includes degraded dunes, sand plains and swales, lakes and swamps enclosed by dunes, as well as coral and sand cays. Soils are predominantly Rudosols and Tenosols (siliceous or calcareous sands), Podosols and Organosols. Land Zone 3 Short description Quaternary alluvial systems General term alluvium (river and creek flats) Quaternary alluvial systems, including floodplains, alluvial plains, alluvial fans, terraces, levees, swamps, channels, closed depressions and fine te...

Instead of waiting in queues and managing a stash of stamp papers, you can pay stamp duty from your bank account.Before the house becomes truly yours, you need to register the sale deed with the local authority. And before you register it, you have to pay a stamp duty applicable on the property as per the circle rate in that area to the state government. If you get into the process of paying the stamp duty in person, which involves buying a stamp paper from the court and standing in long queues, you may have to keep coming back, perhaps for a month or so, to complete the process. To avoid all this, typically, people go through brokers and hire lawyers at the time of registering to get it over in a day or two. Initially, many people try to do it on their own but they realized very soon that it was not possible for them to spare so much time and energy. So they get their broker to pay the stamp duty on their behalf and hire a lawyer to take the registering process further. Filing of s...

A Cosmos Realty Corporation - Mumbai, India: FARM HOUSE PLOTS : "The property is located in dhakane-mangaon taluka (Maharashtra), the major cities close to the property are Mangaon, Indapur, Kolad. The ent..."