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Premium for public parking lots is now 60%
Q: The premium for public parking lots developed by private developers has been increased from 40% to 60% based on the ready reckoner rate of the locality.

bmc
ppl
public parking lots
Latest Answer: Hi everybody, Yes, the notification states that for all PPLs for which letter of intent has been issued, builders will pay premium at the rate of 50% of what they would have been required to pay as per the amended provision.
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Maha govt has directed norms for redevelopment of dilapidated bldgs
Q: Maharashtra government has directed all municipal corporations in the state to conduct a survey of all old and shabby buildings before the beginning of monsoon and disconnect water and electricity supply in case residents therein refuse to vacate them.

bmc
maharashtra government
brihan mumbai municipal corporation
urban development department
new norms for redevelopment of dilapidated bldgs
civic bodies
bmc act
Latest Answer: Hi folks, And the concerned authority will be responsible for repairs. They also required to calculate the FSI of each tenant and give certificate of the same to the tenant and the building owner.
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Odisha State Govt will soon form a subsidiary to execute Smart City projects
Q: The state government of Odisha will soon form a special purpose vehicle (SPV) for effective implementation of different projects under the Smart City scheme.

bmc
bda
bhubaneswar development authority
bhubaneswar municipal corporation
special purpose vehicle
svp
smart city projects
Latest Answer: Hi all, I hear that the plot for the BTCD has been identified and faces Janpath Road on the east, Udyan Marg on the south, railway tracks on the west, and Maharishi College Road on the north. It houses key landmarks such as Ashoka Market, Master Canteen Chowk, Bhubaneswar Railway Station, Ram Mandir and Rajmahal Chowk.
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Oberoi Realty has received approval for project on Glaxo plot in Worli
Q: Mumbai-based real estate developer Oberoi Realty has received required approvals to go ahead with its project in Worli.

bmc
real estate developers
commencement certificate
oberoi realty
galxosmithkline
dr. annie besant road in worli
Latest Answer: It is also come to know that the joint venture had proposed development of 44 duplex apartments in two 65-storeys towers on the Glaxo plot. The company could not immediately go ahead as the Brihanmumbai Municipal Corporation had demanded a fee from Glaxo worth up to 50% of the value of the land sale, which was Rs 108 crore. But the Supreme Court later set aside the BMC's decision, making the way for the project to go ahead.
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Slums dwellers will have to pay property tax, but not based on land values
Q: According to the civic body's plan, slum dwellers will have to pay between Rs 2400 and Rs 18000 as property tax annually, depending on the size and types of huts.

property tax
bmc
slum dwellers have to pay property tax in mumbai
property tax on slums
Latest Answer: Yes, they will tax all protected and unprotected slum properties. there are approximately 15 lakh slum structures in Mumbai. Under the Jawaharlal Nehru National Urban Renewal Mission, it was mandatory to levy property tax on every structure in the city.
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AAI permission is must for slum rehabilitate on Juhu land
Q: Bombat High Court said that slum rehabilitation scheme cannot be implemented on a large plot of land near the Juhu aerodrome without the Airports Authority of India's permission.

bmc
airport authority of india
slum rehabilitation authority
aai
slum rehabilitation scheme
Latest Answer: But in earlier hearing Jagtap's advocate, Sushil Upadhyay told the court that the builder had entered into individual agreement with with residents for implementing the redevelopment scheme. But Cosmos' advocate, Cherag balsara questioned Jagtap's honesty, saying in his reply Jagtap had mentioned that other builders were not given a chance.
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Half-way meet for BMC and builders
Q: The Brihanmumbai Municipal Corporation has a New Year gift for builders and real-estate developers.

real estate
bmc
real estate developers
building permission system
brihanmumbai municipal corporation
devendra fadnavis
Latest Answer: Hi everybody, It means that the number of days required to get these permissions will also reduce from a year to two months.
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Maharashtra Govt. cut in number of approvals needed for realty sector
Q: The government of Maharashtra has asked municipal corporations in the state to work on cutting the number of approvals needed for a project in the realty sector to about 70, from the present level of 200.

bmc
maharashtra government
development charges
legal approvals needed for residential project
legal approval
decrease in number of approvals
premium charges
Latest Answer: But now Maharashtra Govt. has decided to reduce the number of approvals from 200 to 70. It had earlier decided to reduce the number of clearances for an industrial unit to 37, from 76. This is on similar lines.
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Mumbai builders can now check their proposals online
Q: The BMC has told builders to purchase the software and check their proposals.

no objection certificate
bmc
builders
noc
brihanmumbai municipal corporation
building proposal office
corruption in real estate
online building approval
Latest Answer: It's big relief for the builder as well as for the flat owners who always stuck with their heavy amount in a project. Builders will now have to submit files online, a copy of which will go to departments concerned, and they have to issue NOCs within 7 days. Builders will be informed about it through an SMS or email.
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Transfer of a completed immovable property's title is free from service tax
Q: If you are buying an under-construction property from a developer, in such a case, the developer is considered to be the provider of construction services to the home buyer.

occupancy certificate
bmc
completion certificate
brihanmumbai municipal corporation
transfer of a completed immovable property
transfer under construction property
ministry of finance
Latest Answer: Thanks Sunil, I heard that as service tax is charged only on the construction cost, the effective rate of service tax on the entire value of a property below Rs.1 crore is 3.50% (14% on 25% of property value) and 4.2% (14% on 30% of property value) for the a property valued above Rs.1 crore. Is it true?
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