Maan Properties

The Brihanmumbai Municipal Corporation (BMC) would be launching a software that would help homeowners know their property tax. As it stands today, it is only after the bills start arriving that flat owners in India's financial capital become aware of their property tax liability. Earlier, the BMC also decided to send individual property tax bills to flat owners.

Here is what the recent sealing drives across India's major cities tell us about the country's urban expansion.

The GDA is likely to move a proposal later this month to allow defaulters pay dues in installments. However, there is a catch. Not all developers will benefit from this move since it is not a policy decision and benefits will be offered to builders after studying their capability and intent to pay.

Branded residence as an asset class in India is in the evolving stage at present. Many industry experts believe that India's wealthy population has significantly grown and thus this niche market will continue to find takers in the coming years. Branded developments have an edge over other uber-luxury projects owing to their exquisiteness and luxe appeal - with inclusion of customised furniture and furnishing accessories, exclusive fabrics and the status value which comes along. In the latest news, Italian fashion company, Versace has tied up with Unity Group to launch a luxury project in Delhi after its stint in Mumbai.

In 2009, registration of independent floors was made legal given that defaulting developers paid a penalty and only then could they get a floor-wise completion certificate. However, there were defaulters yet again. Fast forward 2018, the scenario hasn’t changed for the better. Owners of independent floors in plots that measure less than 180 sq yd cannot be the formal owners nor can they sell it.