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Maharashtra Chamber of Housing Industry (MCHI)

Maharashtra CM assures realtors to address concerns within 45 days

Maharashtra CM assures realtors to address concerns within 45 days
Faced with criticism that the Maharashtra government has been stifling the growth of real estate in the state, chief minister Prithviraj Chavan assured the Maharashtra Chamber of Housing Industry (MCHI) that its concerns would be addressed within 45 days. MCHI had raised several issues during a presentation. It claimed that these issues are hampering real [...] Continue Reading »

Refund of additional VAT promised by Maharashtra sales tax department

Refund of additional VAT promised by Maharashtra sales tax department
The state sales tax department of Maharashtra has insisted that the payable value added tax (VAT) is much less than three per cent. This has put buyers who purchased flats between 2006 and 2010 and had paid money, in a fix as to how to recover the additional amount paid. Till now, there has been [...] Continue Reading »

Developers seek out DCR on a prospective basis

Developers seek out DCR on a prospective basis
Mumbai property market is experiencing hard times from past one year and adding to it the Mumbai Development Control Regulations or DCR guidelines, doled out five months back. Developers and consumers are furious against the enactment of the new guidelines. The Maharashtra government had amended the DCR regulations in February this year to bring more [...] Continue Reading »

Affordable housing still a distant dream!

Affordable housing still a distant dream!
The Maharashtra Chamber of Housing Industry (MCHI) has blamed state government for not keeping track of affordable housing stock in Mumbai. Also, MCHI in collaboration with Confederation of Real Estate Developers Association of India (Credai) had signed a deal to construct 5 lakh homes by April, 2010. Mumbai being the costliest city in India offers [...] Continue Reading »

Mumbai Buyers are not looking for apartments for sale

Mumbai Buyers are not looking for apartments for sale
Mumbai Developers are facing very hard time in selling their properties. The market is so worst in Mumbai that three consecutive property exhibitions have been canceled. According to Maharashtra Chamber of Housing Industry (MCHI) the situation arise due to some government policy. Actual home buyers are not looking for a flat as the cost of [...] Continue Reading »

Cidco fails to fetch a good land deal!

Cidco fails to fetch a good land deal!
The plots at Ghansoli Mumbai recently was sold for reasonable rates wherein, City and Industrial Development Corporation (Cidco) failed to fetch these lands a good deal! However, Cidco officials say that corporation had opened bids for Ghansoli plots wherein six plots earned around Rs112 crore. The continuous slow down in realty market resulted in these [...] Continue Reading »

Delay in green clearance

Delay in green clearance
State expert appraisal committee (SEAC) has been delaying green clearances and this has brought a down feel in the Maharashtra Chamber of Housing Industry (MCHI), Mumbai. Therefore MCHI has put up the issue in front of the Union environment minister Jayanti Natrajan to get the case solved. The discussion of same issue happened at the [...] Continue Reading »

Urban Land Ceiling Act getting more tough

Urban Land Ceiling Act getting more tough
Maharashtra Chamber of Housing Industry (MCHI) has disagreed seeking no-objection certificates from the state government. MCHI- a body of real estate developers are hoping to seek relief from Urban Land Ceiling Act restrictions. Now that the act has been repealed, the state government has sought legal opinion as per developers request to seek exemptions from [...] Continue Reading »



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