Prez nods to bill for ease of reconstruction of dilapidated bldgs in Mumbai

By Accommodation Times News Service NEW DELHI In a move to provide relief to a reconstruction of the dilapidated building in Mumbai, the President of India Ram Nath Kovind has given his nod to three important bills, a source said. The bill includes The Maharashtra Apartment Ownership (Amendment) Bill, the Gujarat Agricultural Lands Ceiling

Assets Reconstruction Companies hand in glove with Banks manipulating NPA

By Accommodation Times Bureau Assets reconstruction companies are established under RBI's license to reconstruct and repurchase NPAs from Banks and NBFC. These companies are allowed to purchase Non performing Assets (NPA) from financial institutions. They can acquire such assets by just paying a margin money of 15% of the book value

Canara Bank sell 900crore bad loans to asset reconstruction companies

              By Accommodation Times News Service State-run Canara Bank is planning to sell Rs 900crore of sticky loans to asset reconstruction companies this quarter in an effort to clean balance sheet. This would be the third asset sale by the lender in as many quarters as it aims to bring down non-performing assets

Redevelopment and reconstruction of old, dilapidated, and unsafe buildings in the CRZ-II area shall be allowed

By Accommodation Times News Services Special Consideration under CRZ The 1991 Notification provided for the uniform regulation of the coastal areas in the entire country irrespective of the environmental diversity, socio-economic conditions, developmental pressures etc. In the 2011 Notification special provisions have been inserted, keeping in view the diverse problems faced

Govt. in consent with SPPB arrangement with foreign Bank for Reconstruction and Development

By Accommodation Times News Service The Union Cabinet gave its approval for entering into Special Private Placement Bonds (SPPBs) arrangement with International Bank for Reconstruction and Development (IBRD) (part of World Bank Group) for enabling India to have additional borrowing space of US $ 4.3 billion above the Single Borrower Limit

Development Rights taxable In Case Of Housing Societies

By Accommodation Times Bureau Commissioner of Income Tax-18 Vs. Sambhaji Nagar Co-op. Hsg. Society Ltd., Income Tax Appeal No. 1356 of 2012   Introduction: In Mumbai, hundreds of Co-operative Housing Societies are functioning whose buildings have become old and dilapidated due to age. The societies lack finance and technical expertise to repair their buildings. The societies, therefore, seek the