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By Accommodation Times Bureau Utilization certificate for the 2nd instalment of the funds are submitted by the cities after utilization of a substantive amount of funds from the 1st instalment. While a number of cities have started project implementation on ground their utilization certificates are awaited. Hence, utilization certificate may not be an
Author: Staff Reporter
National Urban Housing Fund created
By Accommodation Times Bureau The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores. This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body registered under the Societies Registration Act, 1860
NAREDCO Signs MoU at Magnetic Maharashtra
By Accommodation Times Bureau MUMBAI, 19 FEBRUARY 2018: In a step towards fulfilling the initiative of ‘Housing for All by 2022’, the Maharashtra State Government and National Real Estate Development Council (NAREDCO) signed a Memorandum of Understanding (MoU) during the ‘Magnetic Maharashtra: Convergence 2018’, which will provide 3 lakh Affordable houses in the
Supertech Ltd to develop jam projects of other builders
By Accommodation Times Bureau NEW DELHI A Noida-based realty firm Supertech is looking to expand its business and has decided to take up stuck projects of other builders. To develop a housing project in Gurgaon it has tied up with Gurgaon based developer Gold Souk. Mohit Arora, Managing Director of Supertech said, "There are
Tamil Nadu’s registration dept returns to offline registration of land
By Accommodation Times Bureau CHENNAI The Tamil Nadu's registration department has returned to the manual process for registration of property documents. The authority two days after launching the online process it switched to manual registration. On Wednesday people complained that they faced difficulties in the online process. Authority officials said a server had slowed
Rs 12 Lakh fined on Mumbai’s Kabra and Associates for advertising unregistered projects
By Accommodation Times Bureau MUMBAI Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Kabra and Associates to pay penalty of Rs 12 Lakh for advertising unregistered projects. After the complaint filed by Mumbai Grahak Panchayat (MGP), The authority came into action and fined Rs 12 lakh on the firm for violating sections 11
NDA issues notice for repayment of Rs 70 Cr to Agra authority
By Accommodation Times Bureau AGRA The Noida Development Authority (NDA) has recently sent a notice to Agra Development Authority (ADA) to repay an outstanding loan of over Rs 70 crore and has asked ADA authorities that if it fails to repay money the authority will mortgage land. ADA had previously borrowed a loan
Recommendations made by the GST Council for the Housing Sector to promote Affordable Housing
By Accommodation Times Bureau In its 25th Meeting held on 18th January, 2018, the GST Council had made several important recommendations for the Housing Sector which have come into force with effect from 25th January, 2018. The recommendations are expected to promote affordable housing for the masses in the country. One of the important recommendations made
Fit out Possession –Gimmick by builders to delay project & avoid penalties?
By Stuti Galiya, Solicitor & Advocate It has been common for builders to allow purchasers to occupy flats without obtaining occupation certificate (“OC”), which is mandatorily required for occupying flats. In such cases, to protect themselves from any liabilities, builders offer possession for fit outs. The flat owners who have already waited long
State Govt may reduce rent for Mumbai housing societies on govt land
By Accommodation Times Bureau MUMBAI The state government is considering reducing the lease rent charges to housing societies built on government land, said Chandrakant Patil, Revenue Minister, on Saturday. At present, the state government charges a rent of 2 % of the ready reckoner rates. “The demand for concession is right and