Mumbai Property News

The Municipal Corporation of Greater Mumbai (MCGM) has opted not to issue a stop work notice for Godrej Properties' residential project in Kandivali, despite concerns raised by the defence ministry's Central Ordnance Depot (COD) regarding the project's proximity to their complex. This decision al

A recent ruling by the Bombay High Court has clarified the ownership of common plots in the upscale Juhu Vile Parle Development (JVPD) area of Mumbai. The court determined that these plots, which include utilities and amenities, are owned by 14 housing societies rather than the Maharashtra Housin

The Maharashtra Real Estate Regulatory Authority (MahaRERA) is taking significant steps to enhance the grievance redressal mechanism within the real estate sector. Despite a directive mandating realty developers to set up complaint redressal cells for their projects, compliance has been low, with

The Maharashtra state government has recently formed a new 10-member committee to review and propose amendments to the Maharashtra Apartment Ownership Act, 1970. This development follows the submission of recommendations by a previous 15-member panel just eight months ago, which has raised concer

In South Mumbai, the practice of charging transfer fees by housing societies has come under scrutiny, particularly as these fees often exceed the legal cap of Rs 25,000. Despite this regulation, reports indicate that societies are demanding significantly higher amounts, ranging from Rs 10 to 30 l

Understanding capital gains after selling a property is crucial for homeowners and investors in Mumbai. The implications of capital gains tax can significantly affect the financial outcome of a property sale, and the rules governing these taxes can vary based on location and individual circumstan

The Reserve Bank of India (RBI) has introduced new guidelines aimed at ensuring that banks and lending institutions promptly return property documents to borrowers after they have fully repaid their loans. This directive is significant for homebuyers and borrowers, as it establishes clear timelin

As Mumbai continues to see a surge in new residential developments, the formation of co-operative housing societies is becoming increasingly relevant for homebuyers. These societies provide a structured way for residents to manage their living environment collectively, ensuring that their interes

In Mumbai, the Leave and License Agreement serves as a fundamental legal document for property rentals. This agreement establishes a binding contract between the property owner, known as the licensor, and the individual renting the property, referred to as the licensee. Understanding the key comp

In Mumbai, selling a flat or transferring ownership rights involves a crucial step: obtaining a No Objection Certificate (NOC) from the Co-operative Housing Society (CHS). This requirement, established by the Maharashtra Co-operative Societies Act, 1960, is essential for ensuring that the transac

The recent mandate regarding Tax Deducted at Source (TDS) on rent payments in Mumbai has significant implications for both tenants and property owners. Under the leave and license agreement, tenants are required to deduct TDS from their rental payments, a requirement that has led to confusion and

When selling a property in Mumbai, understanding capital gains is crucial for determining your tax liabilities. Capital gains refer to the profits made from selling a property for more than its purchase price. In India, these gains are taxed under the Income Tax Act, 1961, and the applicable tax