SAHAKARSUTRA

The contiguous land parcel in Thane’s Kalwa locality, according to property market experts, is estimated to fetch over Rs 1,000 crore. The Official Liquidator of the  Bombay High Court  is looking to sell around 120 acre land parcel of  Mafatlal Engineering  Industries to repay dues of its lenders and more than 3,000 workers. The contiguous land parcel in Thane’s Kalwa locality, according to property market experts, is estimated to fetch over Rs 1,000 crore. The company that had shut down in May 1989 counts  ICICI Bank  and Asset Reconstruction Company (India) Ltd. (ARCIL) among its key lenders. The factory land was spread over total 197 acres and some part of it has been encroached upon. Of the total land, the official liquidator has already sold nearly 2.7 acre land parcel to the Thane Municipal Corporation for around Rs 40 crore, while  Railway Vikas Corporation  has acquired little over 1 acre around two months ago. The Bombay High Court ha...

Geomapping, or surveying of land and sub surface using GPS, presents a detailed view of a site and the surrounding area including roads, buildings, mountains, rivers, estuaries and pipelines. Voicing concern over illegal constructions, the  Supreme Court  has directed all the cities in  Maharashtra  with population of 50 lakh or more to get  geomapping  done of the municipal areas in the city. Geomapping, or surveying of land and sub surface using GPS, presents a detailed view of a site and the surrounding area including roads, buildings, mountains, rivers, estuaries and pipelines. The top court held that Geomapping can be done by satellite, drones or vehicles and once it is done it would be easy to control illegal constructions. A bench of Justices  Deepak Gupta  and  Aniruddha Bose  further directed the Maharashtra government to ensure that sufficient funds are made available to the municipal corporations concerned and the exer...

 A housing society which terminated its redevelopment agreement with a builder over delay and then took over redevelopment through court orders, cannot be liable as a 'promoter' under  RERA  to buyers who had booked free sale flats, Bombay high court has said. It held that the society and its members' right of rehabilitation assumes priority over free-sale flat buyers. Justice S C Gupte quashed a city court order to pave way for completion of a 17-storey building to rehouse them, after they vacated their homes in a  Goregaon  building for its redevelopment. The members, noted Justice S C Gupte, have been waiting for 12 years, caught in a legal battle over delay, disagreements and disputes. "Real Estate (Regulation and Development) Act, 2016, had been introduced to establish a  regulatory  authority for regulation and promotion of the real estate sector, to ensure sales efficiently and in a transparent manner, and to protect consumers,'' said Justice G...

A  Trump Tower  developer in  Mumbai , India’s financial hub, is shifting focus to cheaper apartments and office space as a credit squeeze crimps demand for posh properties. Macrotech Developers , earlier known as  Lodha Developers , will cut the share of premium housing from its portfolio to about 17% from 30%, said Managing Director  Abhishek Lodha . It’s also looking to increase contributions from so-called affordable housing to about 50% of revenue over the next three to four years from 40%. “All our new investment is going in affordable and office,” Lodha said in an interview at the company’s premium World Towers residential project in Mumbai on Thursday. “We are managing our liquidity very, very carefully. It is something which we need to watch more carefully now than we would even 18 months ago.” India’s real estate market has been battered over the past three years by a series of policies from Prime Minister Narendra Modi’s government and more recently ...

The Maharashtra government has issued a government resolution (GR) to amend Maharashtra Cooperative Societies Act of 1960. One of the main amendments in the GR allows small cooperative housing societies (CHS) to conduct internal election for managing committee.    "In section 73CB of the MCS Act, 1960 to sub-section (11), after the existing proviso, the following proviso shall be inserted, namely :— 'Provided further that, in case of housing society having less than or up to 200 Members, the elections of the Committee shall be conducted by the said housing society in the manner as may be prescribed,” the amendment says.   Among all cooperative societies in Maharashtra, cooperative housing societies are largest in number or constitute about 50% of the total societies. While affairs of the co-operative housing societies are distinct and peculiar, they were regulated in the same manner as per the general provisions of the said Act, as applicable for all other co-op...

प्रश्न : ULC कायदा नेमका काय आहे? उत्तर : नागरी जमीन कमाल धारणा कायदा हा १९७६ चा आहे. आणीबाणीच्या शेवटच्या टप्प्यात तो आला होता. या कायद्यानुसार मुंबई शहरातील ५०० स्क्वे. मीटरपेक्षा जास्त, मुंबई उपनगरांतील १००० स्क्वे. मीटरपेक्षा जास्त आणि ठाणे-नवी मुंबईसह संपूर्ण महाराष्ट्रातील १५०० स्क्वे. मीटरपेक्षा जास्त असणाऱ्या जमिनी सरकार जमा झाल्या. त्याची मालकी सरकारची झाली. मालकी जरी असली तरी त्या जमिनी विकण्याचा किंवा खासगी विकासकांना देण्याचा अधिकार सरकारला नव्हता, आजही नाही. सरकार जमा झालेल्या म्हणजे सरकारी जमिनीचा सरकारने नागरिकांच्या मुलभूत घटनात्मक हक्कांसाठी वापर करावयाचा आहे. (उदा. : निवारा, रोजगार, आरोग्य, शिक्षण). प्रश्न : कायदा रद्द का झाला? उत्तर :  ज्यांच्याकडे हजारो एकर जमीन आहे अशांना नागरी जमीन कमाल धारणा कायदा हा आपल्या अधिकारावर गदा आणणारा वाटू लागला. त्यामुळे सदर कायद्याला मोठ्या प्रमाणात विरोध झाला. -------- या लोकांनी न्यायालयात धाव घेतली आणि कायदा रद्द करण्याची मागणी केली. १९७६ ला आलेला कायदा १९९१ ला अटलबिहारी वाजपेयी यांचे सरकार असताना रद्द करण्यात आला...

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