Cidco proposes floor space index of 3 for building redevelopment
Feb 08, 2014
Source : The Times of India


NAVI MUMBAI: In a key development this election year, Cidco has mapped out the need for granting floor space index (FSI) of 3 for redevelopment of old and dilapidated buildings it has developed in its own and the Navi Mumbai Municipal Corporation area.

It has also proposed that it would not charge any lease premium for redevelopment projects as the increased FSI would enable it to apportion its own share from the developed properties. The current proposal includes buildings that are more than 30 years old.

The issue will be discussed at Cidco's board meeting on Tuesday.

A source said, "The proposal was under discussion with principal secretary, urban development, NMMC, and other nodal government bodies for the last two months. If the board passes the resolution, then it will be forwarded to the state government as it would require change in the development control rules."

Sources said, "The grant of enhanced FSI had earlier been proposed only for Cidco areas from Kharghar onwards where it is the planning and development authority. But, it now wants to include old structures it had developed in the NMMC area also."

Latest Realty News

BMC sends attachment notice to netas' societies
Feb 08, 2014
MUMBAI: The BMC has issued a property attachment notice to the Sukhada and Shubhada housing societies for non-payment of property tax.
No change in property tax
Feb 08, 2014
NAVI MUMBAI: The general body approved NMMC's proposal of not hiking property tax for 2014-15. The proposal for retaining last year's rates was the sole agenda discussed in the Friday meeting, as the Nerul cylinder blast dominated the discussion. The remaining proposals were set aside for the next time.
Expat Indians drive demand in Pune’s real estate market
Feb 08, 2014
PUNE: IT driven locations, across the country, have been witness to the migration of large educated workforce, be it Bengaluru, Gurgaon or Pune. This upwardly mobile, well-earning and lifestyle-driven class, hence, becomes a key demand driver for property in the given city. In Pune, the expat Indians have thus, emerged as the key demand drivers for property. The rise and growth of Pune, in terms of its overall economics, also suggests that the large workforce will have a major share in creating
Realty sector to witness healthy activity in 2014
Feb 08, 2014
MUMBAI: The housing market is poised to regain momentum in the year 2014 and the turnaround of its fortune, is expected to coincide with the upcoming union budget. Analysts believe that if the residential market has remained stable during the year 2013, despite poor macroeconomic sentiments, it shows there is enough appetite for housing and projects, at the right price point, which are continuing to sell across the country. Moreover, with the reported inventory and expected supply coming in duri
RCap net zooms up on higher margins
Feb 08, 2014
MUMBAI: Reliance Capital (RCap), the non-banking finance company of the Anil Ambani-led Reliance Group, has reported a 65 per cent increase in its net profit on a consolidated basis to Rs 166 crore for the quarter ended December, mainly due to strong performances of the housing finance and mutual fund segment.
High cost deterring developers from going for green projects
Feb 08, 2014
MUMBAI: Developers are reluctant to implement the green norms on account of cost issues, which is impacting growth of green real estate sector, a survey said.
Housing Start Up Index launched for 27 cities
Feb 08, 2014
DELHI: There is a declining trend in the construction of housing activities in big cities such as Kolkata and Chennai whereas growth is apparent in small cities like Bhopal and Hubli in the housing sector, according to the Housing Start Up Index.
The problem of savings
Feb 08, 2014
MUMBAI: The Central Statistics Office’s (CSO) detailed estimates of national income for 2012-13 reveal the extent of deterioration that has taken place in domestic savings, both quantitatively and qualitatively. Since 2007-08, India’s gross savings rate has dropped from 36.8 to just 30.1 per cent of its GDP. The current fiscal could well see this go below 30 per cent, the first time after 2003-04. The decline in the overall savings rate is, however, only one part. Of equal concern is the composi
In defence of private participation
Feb 08, 2014
MUMBAI: After India’s independence, defence production was restricted to the public sector. Poor industrial infrastructure prompted the government to create defence public sector units as system integrators along with ordnance factories, which were meant to produce defence hardware.
FDI in retail sector will boost mall growth
Feb 08, 2014
MUMBAI: Malls have come to stay in India. With the emergence of new urban centres, ballooning of urban middle-class aspirations, rising incomes and expanding consumer spends, the mall culture is taking roots. Susil Dungarwal, Chief Mall Mechanic and founder of Beyond Squarefeet, a mall advisory firm, helps the trend grow by hand-holding developers to make better malls and do better business.

Latest Realty News Of State

Realty Talk's