Topics related to real estate, parking top GB clearance list
Feb 24, 2014
Source : The Times of India


THANE: The city planners have approved a sweeping set of parking-use and construction rules that could change the face of Thane. The civic general body on Thursday passed without an iota of discussion sweeping changes to underground parking rules, guidelines governing permissions for temporary construction, offering of transferable development rights (TDR) for green zone, removing cap on loading of TDR, and finally removing restriction on internal changes allowed in a flat.

The general body (GB) of Thane Municipal Corporation (TMC) also passed state government's notification on additional .33 floor space index (FSI), which a builder could buy after paying a premium. The GB also cleared the final route for a High Capacity Mass Transit Route (HCMTR) pending for a long time.

The TMC has proposed that multi-level podium parking, stack parking and ramps be permitted underneath buildings, recreational ground and play grounds across city. The stack parking facility will be permitted for any plot having an area of less than 2,000 sq m, for plots over that size multi-level podium be permitted with height not more than 4.2 mm along with adequate ramps. The TMC also altered rules for temporary construction on a site, which was so far allowed only for six months. Now, this could be for an unlimited period and permissions can be obtained from senior officers apart from municipal commissioner. Officials hope this will facilitate repair and renovation of old buildings.

The TMC also amended the crucial Appendix W of development control rules (DCR) to remove the existing cap of 0.8 on TDR currently allowed on a plot in new Thane and 0.4 on land in old Thane.This simply means a developer or holder of TDR certificate will be able to use floor space index (FSI) credit on a receiving plot without worrying about any restrictions on the maximum available development potential of his plot. It will also now allow TDR in the green zone. An estimated 3,400 hectares of land, an area equivalent of 4,000 standard-sized football fields, currently is locked in green zone around Thane creek and the coastal regulation zone (CRZ) rules. This is roughly 15% of the total Thane land.

Latest Realty News

Ready reckoner painful for Mumbai real estate buyers
Feb 24, 2014
MUMBAI: The state government must review its latest ready reckoner (RR) rates, which is used to calculate market value of properties for payment of stamp duty and registration charges.
Rs 403-crore property tax still due
Feb 24, 2014
PUNE: Civic body-appointed brass bands will need to play louder next fiscal. The Pune Municipal Corporation has not been able to recover Rs 403 crore pending property tax despite its many efforts. At the general body meeting, the administration in a written reply to the elected members stated that property tax worth Rs 403 crore has to be recovered from the defaulters in 2014-15.
Corporators slam department for poor tax collection
Feb 24, 2014
KOLHAPUR: Corporators of the Kolhapur Municipal Corporation (KMC) on Thursday came down heavily on the property tax department, which has managed to collect just 50% of its target, just 50 days before the start of the next financial year.
Aurangabad Municipal Corporation to focus on wards A, C for tax collection
Feb 24, 2014
AURANGABAD: In a bid to improve its tax collection figures, the Aurangabad Municipal Corporation (AMC) is focusing on wards A and C where the collection has been low as compared to other wards. The civic body is also planning to deploy additional staff in these two wards.
Uproar over property tax hike plan
Feb 24, 2014
AURANGABAD: The civic body's proposal to hike property tax by 21.5% might run into rough weather with many corporators gearing up to oppose the plan at Monday's standing committee meeting.
Property tax offices to remain open on Sat, Sun in March
Feb 24, 2014
THANE: Property tax offices under the North Delhi Municipal Corporation will remain open on all Saturdays and Sundays in March to facilitate tax payment transactions, the municipal body said today.
Thane Municipal Corporation budget proposes 2% surcharge on Property Tax
Feb 24, 2014
THANE: Thane Municipal Corporation in its Rs 2166 crore Budget (2014-15) today has proposed a 2 per cent surcharge on property tax to finance 'Shelter Fund' which is aimed at constructing tenements for residents of dilapidated buildings.
‘Govt should protect early flat buyers from unfair developers’
Feb 24, 2014
MUMBAI: Rogue developers around the city are making a killing while victimizing people who book their flats early. In Bandra (West), a developer recently refunded money to buyers who booked flats three years ago. The building, located in a bylane, had already reached up to the eighth floor. Market sources said the developer may sell the project to another builder, while purchasers are left in the lurch.
Navi Mumbai residential market: New nodes in the making
Feb 24, 2014
NAVI MUMBAI: DENNY SIMON as the older nodes of Navi Mumbai get saturated, residential development has moved towards extended locations such as New Panvel, Kamothe, Kalamboli, Ulwe, Uran and Khandeshwar. The growing demand for residential units has seen a steady price rise in most of these locations, the major reason being the planned infrastructure development in the city. Further, due to the successful execution of infrastructure projects, prospective buyers have more confidence in the executio
Private equity funds returning to realty space again
Feb 24, 2014
MUMBAI: Optimistic about the revival of economy after Lok Sabha elections, foreign and domestic private equity players are now returning to Indian real estate sector, but with caution and will focus on top six-seven cities, say industry experts.

Latest Realty News Of State

Realty Talk's