India Real Estate Latest Trends | Overview | Growth | Investments

April 18, 2021
Mumbai realtors will now have to reveal the number of allotted flats: Maha. Govt.

The Maharashtra Government has asked the real estate developers of Mumbai to disclose the allocation details containing the number of apartments/flats sold or allotted to the home seekers and/or investors. This process has been initiated to avoid the selling off of the same flat to several buyers at different interval of time.

The Govt. has also mandated to disclose the size of the allotted flat/s as per the carpet area. It has also clearly been mentioned in the government orders, that the flats sold earlier by the builders based on other defining parameters like super built-up area, super area, etc., will also have to reveal the size as per the amended factors.

These crucial amendments have been now added in the Maharashtra Real Estate (Regulation & Development) (Registration of Real Estate Agents, Registration of Real Estate Projects, Disclosures on websites and Rates of Interest) Rules, 2017. The execution of the same will be soon seen in the new purchases and allotments done in Maharashtra.

After the circulation of these mandatory regulations, top realtors in Maharashtra will also get a chance to showcase their transparency and authenticity in every property or flats/apartments they sell. This will not only improve the buyer-seller relationship but will also keep things crystal clear.

CREDAI Maha Requests for Realty Registration Extension & Fine Waiver

In a bid to acquire an extension for realty registration and fine waiver from the state government the apex of the Realty Developers’ body, CREDAI Maharashtra, has recently sought four months documents executed in December, 2020. The realty developers’ has addressed the IG of the Registration and Stamps department regarding the aforesaid. Also, the CREDAI has requested the state government to be lenient towards realty buyers/ developers and provide relaxation from the levy of fine given the

Housing Loan Interest Rate Contracts- SBI

State Bank of India (SBI), the largest public sector lender in a row on rate cuts on Saturday announced that it has contracted its housing loan rate of interest further. Housing loan will now be disbursed at a rate of interests starting from 6.7% onwards, effective from 1st of May, this FY 2021. Earlier this April also, the lender in a bid to infuse liquidity in the realty sector, SBI had levied cuts on housing loan interest rates i.e. 6.95% onwards based on slabs, effective 1st of April.

Sigh of Relief for COVID-19 Patients as M3M Group & IAF Ventures to Develop a Zero-cost COVID-19 Special Facility

In a bid to provide a free of cost and uninterrupted support of food and medical aid, including oxygen, for COVID-19 patients in Gurugram, Haryana M3M Foundation, a welfare wing of M3M Group, ventured with Indian Air Force to act upon this humanitarian cause in this need of the hour. Also, a mobile medical unit is set up for commuting any patient from the COVID-care centre to the COVID-19 special medical facility. Attending an online media event, Dr Payal Kanodia, Trustee, M3M Foundation here