Browsing Tag

Self-Redevelopment

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In a key ruling, ITAT Mumbai allowed Valencia Co-Operative Housing Society in Powai to claim tax deduction on interest earned from co-operative bank deposits, clarifying when housing societies can legally avoid tax on such income.

No NOC Required For Redevelopment From Registrars

Major Relief for Cooperative Societies In a pivotal development for Maharashtra’s urban…
The Bihar RERA has fined a developer ₹1 lakh for displaying "Coming Soon" posters and online ads for an unregistered project, holding that even minimal promotions violate Section 3 of the RERA Act and defeat buyer protection goals.

Not Just Developers! Tribunal Says Society is Also a Promoter Under RERA

In a major ruling, the Maharashtra Real Estate Appellate Tribunal held that a society redeveloping its own property after terminating the builder is also a “promoter” under RERA — making it liable to compensate flat buyers and requiring it to deposit funds before appealing.

Gokuldham Residents May Opt for Self-Redevelopment

Residents of Gokuldham mill workers’ colony in Goregaon East are showing strong interest in self-redevelopment of their aging buildings, seeking more control and transparency compared to traditional builder-led models. An awareness session led by architect Chandrashekhar Prabhu highlighted the benefits and process of self-redevelopment, emphasizing community empowerment and efficient urban renewal.
Mumbai Metropolitan Region topped India's land deals in 2025 with 32 transactions for over 500 acres, driving national total to 3,772+ acres amid strong demand for residential, mixed-use, industrial and data centre projects – per ANAROCK Research.

Govt to Allow Conversion of Leasehold Land to Freehold at 25% Above Ready Reckoner Rate

The Maharashtra government has issued a final notification allowing leasehold and Occupancy Class II lands to be converted to freehold upon payment of a premium of up to 25% of the Ready Reckoner rate. The revised premium rates, applicable until December 31, 2025, aim to grant full ownership rights to individuals, housing societies, and industries.