raghav estates

The commissioning of Line-I of the Mumbai Metro Project not only eliminated travel woes for Mumbaikars but gave a boost to the property prices in several micro-markets of the city. The elevated corridor connects the locality of Versova in the west to Ghatkopar in the east with a total of 12 stations covering 11.4 kilometre. Here is all you need to know about the Line.

Pune’s property market is one of the most coveted in India, attracting the interest of not only locals but non-resident Indians as well. To cater to this growing demand, housing supply has to grow. To make that happen, 11 villages have been added in the city’s fold recently. But, it is not as easy for a city to expand as it might seem.

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has fined the developer of the Bhagtani Serenity project at Powai in Mumbai, JVPD Properties Private Limited, for failing to deliver the project on time. It penalised the developer with a sum of Rs 7.10 crore along with an interest of 15 per cent to be paid to 21 homebuyers. The buyers, who the developer referred to as only investors, had booked apartments under the project during 2013 and 2015 but only received a letter from the developer citing approval related delays as a reason.

In a move that would set a precedent for other states to follow, the Uttar Pradesh Real Estate Regulatory Authority has asked the Noida Administration to slap recovery certificates (RC) on two developers and recoup Rs 1.23 crore from them over their failure to comply with the body’s previous order. The regulatory body, which was set up in May last year, had earlier directed the two developers—IVR Prime IT Pvt Ltd and Amrapali Group – to refund buyers who decided to opt out of their projects.

Those living in high-rises of Noida have a reason to cheer. Soon, property owners in high-rises will get individual electricity connections. Currently, power connections are provided to the developer of a project by Paschimanchal Vidyut Vitran Nigam Limited (PVVNL). In case the builder fails to pay the power bill within the set timelines, flat owners end up paying a penalty, or losing supply, in the worst case scenario.