You can apply for a Mhada home in Mumbai from April 15

People wanting to buy Maharashtra Housing and Area Development Authority (Mhada) homes can fill in applications from April 15. A formal announcement about this year's lottery draw will be made in newspapers on March 1. A total of 2,635 houses will be put up for sale by the state housing authority through this lottery draw.

From Mumbai, there will be just 878 units whereas, there will be 1,708 VIrar tenements that are under construction. Similarly this time the plan is to include 111 homes in Vengurla in Sindhudurg district. To read more please visit - dnaindia.com

Hi-tech survey of airport lands,soon

CBD: The City and Industrial Development Corporation (Cidco) will spend around Rs 60 crore to conduct a topographic survey for the land under Navi Mumbai Airport Influenced Notified Area (Naina) plan and Khopta notified areas. They will use Laser Imaging Detection and Ranging (Lidar) method to mark areas for developing townships within 25-km radius of the proposed airport.
The survey will be undertaken in 270 villages in Pen, Panvel, Uran, Khalapur and Thane talukas, which have been earmarked for the Naina townships and also in six villages near Karnala that come under the Khopta project. The main objective of the two townships is to rehabilitate the project affected persons (PAPs), whose lands are being acquired for the airport. The survey has already started a month ago in 10 villages in Panvel, which need to be developed at the earliest for the basic infrastructure of the airport. To read more please visit - indiarealtynews.com

Supreme Court nixes private forest tag: Mumbai opened up for development, Godrej is big gainer

MUMBAI: The Supreme Court on Thursday removed the “private forest” tag attached to huge swathes of land across the state by the government and upheld by the Bombay high court, freeing lakhs of acres for development.
In Mumbai, the ruling brings relief to at least five lakh residents and builders linked to hundreds of acres in Thane, Mulund, Bhandup, Nahur, Mahul, Borivli, Kandivli, Virar, Badlapur and Ambernath, who will also get back crores paid as fine to the state. The biggest gainer is Godrej, which can now build on 133 acres in Vikhroli.
Striking down the 2008 HC order, the apex court also quashed all notices issued by the state under the Indian Forest Act of 1927 decades ago. It affects owners of almost 6.4 lakh acres in the state.
It criticized the state for “leading citizens up a garden path for several decades” and for its “active consent in permitting construction through the years” and said now, residents alone cannot be asked to bear the brunt. The state cannot be allowed to demolish the “massive constructions made on it (the land) over the last half century”, the court added. To read more please visit - indianrealestatenews.com

Two Nerul plots sold for record Rs 2.81L/sqm

A new record was set in Navi Mumbai with Cidco selling two plots in Nerul through tender bids for Rs 2.81 lakh per square metre on Tuesday.
Cidco spokesperson Mohan Ninawe said: “Two plots, measuring 1,481.48 sq m and 1,502.04 sq m, were given to the highest bidder, Aniruddha Developers, for Rs 2,81,251 per sq m. A third plot, measuring 1,601.78 sq m, was sold to one B Chaudhary at Rs 2.40 lakh per sq m.”
Ninawe said the land was sold at a record price through Cidco’s tendering process in Navi Mumbai. However, local property consultants said the record sale in Navi Mumbai was set six years ago when the Bombay Merchantile Bank plot in Vashi’s Sector 17 fetched Rs 5 lakh a sq m (Rs 84 crore) from the Shah Group.To read more please visit - indianrealtynews.com

Mumbai real estate market sees 16% rise in registrations

Despite a slowdown in the economy, the Mumbai real estate market saw a 16% increase in property registrations in the first half of calendar year 2013 over the same period last year, data sourced from Director General of Registrations, Mumbai, showed.

There were 34,588 registrations between January and June 2013 against 29,773 done last year, signalling an uptick in property sales. Supply coming back into the market, quicker approvals for projects and developers offering discounts and freebies on bookings seem to be factors having a positive effect on the property absorptions in the metropolis, albeit at a very slow pace.

Sales in the Mumbai market have been sluggish for the last 12-18 months as a change in the development control rules, coupled with increasing liquidity pressures being faced by developers had hit the market.

To read more please visit - indianexpress.com