Five property developers are placed under judicial custody till July 1 by the court for defrauding a 64-year-old widow of ₹1 crore
A designated court on Friday ordered five “Suchit Developers” partners to judicial custody until July 1 in connection with an alleged Rs. 1 crore fraud against a 64-year-old widow who was defrauded of her Bandra West apartment that she purchased in 2005. The investigation officer (IO) is allegedly working in concert with the accused, Lachman […]
Developers in Maharashtra will not be permitted to deposit buyers’ money into separate accounts as of July 1
As on July 1, developers in Maharashtra will have to keep specific bank accounts open for payments from buyers, citing a directive from the Maharashtra Real Estate Regulatory Authority (MahaRERA). The goals of this policy are to safeguard the investments of homeowners and improve financial discipline and openness. Developers used to be able to request […]
Citizens of Kandivali and Juhu present agendas to candidates for infrastructure projects
Candidate pledges to walk the walk have been sought by citizen groups prior to May 20 city polls. After conducting a poll, a group of Kandivali and Lokhandwala township residents released a “citizen’s manifesto,” while a group of Juhu residents released a charter of demands. The manifesto calls for transparent utilisation of MP funds […]
Residential rentals in western suburbs has driven redevelopment in Mumbai
With barely any land properties left in the western suburbs of Mumbai, residential apartments are being built through redevelopment of older properties. This is being observed in areas like Borivali, Kandivali, Malad, Khar, Bandra and Santacruz. The developer has to issue the property owners under redevelopment, housing another residence, resulting in increased demand for rental […]
Due to delay in possession Rustomjee crown’s promoters to Pay Interest, MahaRERA
Prabhadevi based project Rustomjee crown phase One, delayed possession to the complainant with every month till the actual date of possession of the flat to the complainant, MahaRERA has directed the promoters of the project to pay interest. The developer guaranteed the hand over of the said flat in December 2021. Anil Dattani registered agreement […]