14th March 2019: Listings & News Update | Movers & Shakers in Real Estate
Last Updated : 14th March 2019
Black & White Aventura: Listings & News Update
#1.Regulatory Alert: Deemed Conveyance for 10,000 Co-operative Housing Societies (CHS) in Mumbai
#2. Property Tax Alert: Zero Property Tax upto 500 SqFt in Mumbai, wef 01st Jan 2019 (carpet area of 46.45 sq. meter or 500 sq. feet or less.) Download Official Doc: Zero Property Tax upto 500 SqFt in Mumbai, wef 01st Jan 2019
#3. REITs: Bengaluru-based property developer Embassy and private equity firm Blackstone is expected to launch the country’s much-awaited first real estate investment trust (REIT), 33 million square feet of office and hospitality assets under its proposed REIT comprising of seven business parks and four city-centric buildings spread across Mumbai, Bengaluru, Pune and Noida on March 12, 2019 to raise around Rs 5,000 crore
#4. New Project Launch Alert: Worli (Behind St.Regis) by Chandak-Neumec Group 2BHK – 575-600 sqft ca. Completion Dec RERA 2023, Expected OC Date: Dec 2022. Single Tower 0.5 Acre Land Parcel(SRA) 39 Storey Tower. Two Payment Plans: 5:95 (Bank Subvention) & 10:30:30:30 (Developer Subvention) @ 3.4Cr (all-in) – Box Pricing [10 Floors Wise.] Works out to 56,700 Rs per square foot on Carpet. This project is near Parinee Elegance (commercial offices) and Runwal Reserve (residential homes), Published in last week Newsletter dated: 7th March 2019
Update as on 14th March 2019: Book before 22nd March 2019, get EOI-Expression of Interest Form Submission Exclusive Pre-Launch Benefit of 11 Lacs on the Agreement Value, No Questions Asked Refund Policy of 1 month on the Launch Day 22nd March 2019. All EOI Customers shall have Box Price and Inventory Choice Preference Treatment as against regular non-EOI Booked Customers.
#5. Lobbying Alert: The consumer forum is battling an age old Achilles Heel between the buyers and developers to challenge scenarios of property tax liability before and after the CHS is formed once the developer does handover of the project. The consumer court recently ruled that the Developer is liable for expenses such as water charges and municipal taxes(includes property tax) until all property is transferred to society.