Recent Real Estate Regulatory News

• Mar-08 Industrial Parks exempt from restrictions on FDI in real estate [Press Note 2(2005)] provided 66% of area is allocated for industrial activity and no single unit occupies more than 50% of the area
• Apr-08 SEBI (Security & Exchange Board of India) permits mutual funds to launch REMFs
• Apr-08 Tax benefits for Software Technology Parks has been extended by 12 months to March 31 2010
• May-08 MMRDA (Mumbai Metropolitan Region Urban Development Authority) has increased FSI (Floor Space Index) to 4 from 2 in G Block of BKC (Bandra Kurla Complex) subject to payment of premium
• Jun-08 Maharashtra government has increased FSI (Floor Space Index) for slum rehabilitation to 3 for low density slums and 4 for high density slums
• Aug-08 Cap on space for Financial Institutions in IT Parks in Mumbai Metropolitan Region increased to 80% from 30%
• Aug-08 Delhi government plans to rope in private players for slum redevelopment (Read more)
• Aug-08 Developers will have to provide double parking space in all upcoming residential and commercial buildings in Mumbai