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Delayed For Years, MIG Redevelopment Colony To Be BaStarted in 2006, the redevelopment work is far from completion but might get on track as the Bombay High Court has cleared the deck for the construction work to start. The project was in litigation due to a rule imposed by the Brihanmumbai Municipal Corporation that the developer must execute a permanent agreement with the old homeowners to get the construction commencement certificate. As the Bombay HC has set aside this condition, the work might begin soon.
SBI Colluded With Builder To Sham Mortgage Facility,In 2009, 300 buyers booked shops at Kamala Industrial Park at Kandivali. The builder, Metallica Industries, promised to give possession of the commercial units by 2013. In total, buyers had paid Rs 65 crore to the builder while Rs 12 crore remained to be paid. As it would later turn out, it was found that the builder forged commencement certificate (CC) to build seven floors while it was granted permission to build four floors only.
Bombay High Court Allows State To Charge Share In LeWhen the state government made an insertion and created an amendment in the Maharashtra Land Revenue Code, 1966, in August 2016, real estate developers were among the parties that were terrified. The state added Section 37A in the Code, giving itself the right to charge and recover from lessees the unearned income—the money they earned by transferring lease-holding rights to another person or entity. Under the changed norms, lease-holders could not transfer their lease-holding rights to another party without a prior permission of the state. On May 3, the Bombay High Court allowed the aggrieved realtors great relief while upholding the validity of the amendment.
Cheating Cases Against Builders Criminal, Not Civil:Complaints filed by public, where they allege of being cheated by a developer cannot be termed as "civil disputes" and the police have to probe such cases diligently, the Bombay High Court has said. While passing the order, the HC also said that the police should not shirk away from their responsibility by terming such complaints as civil disputes.
Over 900 Projects For Sale In Neral; New DevelopmentIf you are looking for ready-to-move properties in Neral, there are over 250 projects up for grabs within Rs 4 crore. If you are comfortable heading for a new construction or an under-construction project, there are close to 400 projects awaiting you.