Showing posts from April, 2022

Difference Between Studio and Rk Apartments

  Nowadays, people travel to different cities in search of their job. Settling into a job which showcases your skills is very important. What about your accommodation? In search of rental homes, it can become quite tiring and stressful. To solve this concern, we bring to you an idea of a studio apartment. What is a Studio Apartment? These are newly constructed living spaces known as studio apartments because of their current English attractiveness. It's basically an apartment with a single room. In the last two decades, studio flats have been increasingly popular in India, particularly in areas like Mumbai, where space constraints prevent massive residential complexes. We examine what studio flats are and how they can help the country in resolving its housing issues. A studio apartment is defined as a space with a living area, a bed area, a kitchen, and a bathroom. To create a separation, studio apartments can feature partial walls. If there is a wall between you and the guests, fo

26,000 house registrations recorded in Jan-Mar quarter

  News | 23th April 2022 Navi Mumbai: More than 26,000 house registrations have been recorded in the last quarter of the financial year 2021-2022 (January 2022 to March 2022). City developers have called the numbers good for the real estate market. As per the Maharashtra Chamber of Housing Industry (MCHI-Navi Mumbai), total 26,484 house sales were recorded in the registration offices in Panvel, Vashi, and CBD-Belapur, with a majority of 2,184 registrations from the five registration offices of Panvel. “With the declining Covid-19 cases and lifting of lockdown, the real estate business is picking up. We expect more sales in the next two fiscal quarters as the citizens are showing interest in Navi Mumbai properties, especially in the growing Panvel areas, including Ulwe,” senior vice president, MCHI-Navi Mumbai, Manohar Shroff, said. He, said the carpet rate for residential houses in Ulwe is currently in the range of Rs 6,500 to Rs 8,000 per square foot, while that in Vashi, being the ol

Mumbai: Fire safety scrutiny fee for buildings jumps up to seven-fold

  News | 18th April 2022 Mumbai The BMC has increased fire safety scrunity fee by up to seven times for issuing no-objection certificates to developers for highrises, both residential and commercial. The revised charges are applicable to new buildings and existing ones if there is any revision in the plan, amalgamation of units, change of user and activity, said a circular recently issued by the BMC. In absolute terms, for most projects it could go up to Rs 50,000 to a few lakhs. According to the circular, the fire safety scrutiny fee for buildings having a height of up to 32m tall (between seven to 10 storeys) has been increased from Rs 43/sq m to Rs 100/sq m for residential structures and Rs 200/sq m for commercial ones. Residential and commercial buildings having a height of 32m-70m will now have to pay Rs 200/sq m and Rs 300/sq m, respectively instead of Rs 65/sq m. Similarly, for residential and commercial structures 70m-120m tall, the charge has been increased to Rs 300/sq m and

Maharashtra forest department begins demolition of structures inside mangroves

  News | 18th April 2022 Mumbai While ‘Mission Begin Again' applies to all walks of life post the lockdown phase, the state forest department has also enthusiastically vouched for it by recently starting a special demolition drive of illegal structures within the areas notified for mangroves in and around the Mumbai Metropolitan Region (MMR). Just last week, several concrete structures inside the notified mangrove area were demolished by the mangrove cell officials at Kopri in Thane. More demolitions are expected here and also around coastal areas, such as Juhu, Versova, and parts of Navi Mumbai, where there are notified mangrove forests. Additional principal chief conservator of forests (mangrove cell) Virendra Tiwari, said, “It was surprising to see pucca concrete houses built illegally inside the notified mangroves at Kopri. Our officials are undertaking field inspections at all notified reserved forests to check for such illegal shanties and houses so that demolitions can be ca

CHS's NOC not needed to sell, rent flats, says Maharashtra housing minister

  News | 13th April 2022 Mumbai A flat owner does not require a no-objection certificate from the housing society to either sell or rent a flat, reminded State Housing Minister Jitendra Awhad, speaking up against increasing prejudices in society. "Housing societies will not issue you an NOC if you want to sell your flat to someone from the minority community, a Dalit or from a backward community. There are unwritten rules that flats in a particular society can be sold or rented to only a person who is a vegetarian, Jain or some others. This is illegal. The cooperatives department has clarified that no NOC is required and residents can complain to the deputy registrar," he said. ‘Even banks insist on hsg soc NOC for loans’ State Housing Minister Jitendra Awhad, who is the NCP MLA from Mumbra, said all that a flat owner needs from a housing society at the time of selling a flat is a no dues pending certificate. "Over a period of time, this has led to all kinds of condition

Buying a house then make sure you do a documents checklist

  Buying a house is no easy task. First time homebuyers always think about what documents are needed to buy a house or what paperwork do you need to buy a house. Even if you are well prepared, there are always last-minute things that you need to take care of. Some of these include getting an NOC, getting a pre-approval letter from the bank, and checking the property for any potential problems. A person devotes a considerable portion of their life to the purchase of their dream home. In truth, the home-buying process may be more challenging, particularly for first-time purchasers; nevertheless, with the appropriate knowledge of necessary paperwork, and the assistance of a reputable real estate broker, home-buying may not appear to be strenuous job.Depending on the sort of property you want to buy, you'll need different kinds of documentation. A documents checklist is an easy way to make sure that you don't forget any important document that will help with the purchase process. A

Five Things You Must Do Before Buying a House

  Every human fantasies of owning a house. A place where they can call home; their safe haven. It is not just four walls and bricks, it's an emotion and a lot of hard work goes into making a house a home . A lot of us spend our whole life savings on buying a house. Often people try to bite more than they can chew by taking a loan far bigger than they can afford and hence there are a few things you should do to ensure you don’t make the same mistake. There are a myriad of things to consider before taking this huge decision and a few of those are jotted down below. Here are listed below 5 things to consider while buying a house. Set up a Budget: Families devote their whole life savings to buying a house. That is how individuals are socially conditioned. People often take loans sometimes, more than they can afford. One should always keep track of their spendings. First-time home buyers often forget the extra cost that comes with buying a new house. Check the legal documents: Check to

Stamp duty and registration charges in Maharashtra in 2022: All you need to know

  Mentioned is all about stamp duty and registration charges in Maharashtra that you should know. We look at the stamp duty in Mumbai and the other important cities in Maharashtra, gift deed in stamp duty and how to pay the stamp duty in Mumbai. What is stamp duty and registration charges on property? Whenever any movable or immovable asset changes hands, the buyer has to pay a certain amount of tax to the state government, to get it stamped and registered in legal records, which is known as stamp duty and registration charges. The Maharashtra Stamp Act specifies such assets and instruments on which the stamp duty has to be paid to the state government. The Act also details the amount of duty to be paid to the government. Stamp duty on sale, mortgage and gift deed details in Mumbai, Thane, Navi Mumbai, Pune, Nagpur and Nashik will attract a 1% metro cess from April 1, 2022. These are places in Maharashtra with the metro projects operational or work under progress. Home buyers who will

Key legal checklist for buying a property

  Property investments are highly capital intensive and any mistake made during the process, can cause a great deal of trouble for the buyer. This makes it imperative for a buyer to exercise due caution while examining the property documents. Interestingly, land might be a physical asset but who it belongs to, cannot be merely proven by a claim of ownership – the same must be validated by several documents that prove the ownership status of the property. With proper legal advice, scrutiny of documents and verification of relevant information pertaining to the property, the buyer can ensure that the investment brings peace of mind and a sense of security. In this article, we talk at length about things to consider before buying a land in India, documents a buyer has to seek and examine before he is ready to sign a deal. 1. Flat purchase checklist It is a settled legal principle that a person cannot convey a better title, than what he himself has. As a first step, the buyer should undert