Mumbai
Two laborers were killed and two seriously injured after a portion of a four-storey building at Rashbehari Avenue in south Kolkata collapsed. The Kolkata Municipality has informed that the portion that collapsed was constructed illegally. The Municipality also said that the owner of that property in Kolkata has extended the original single-storey building into a [...] Continue Reading »
In a recent study made by a real estate research firm it is revealed that the cost of properties in Delhi-NCR have increased by an average of 25 percent. Properties in Noida record the highest property inflation rate in the region, with a 48 percent increase in prices. The research was made over 40,302 residential [...] Continue Reading »
Ajay Piramal-backed Indiareit Fund Advisors Pvt. Ltd has raised a Rs 250 crore fund that will be invested solely in redevelopment projects of slums, old housing societies and ceased buildings in Mumbai. The real estate fund has planned to raise another Rs 200-250 crore before closing the fund in a couple of months. According to [...] Continue Reading »
Two accused in Adarsh Society scam were granted bail by the CBI special court. Those two accused had been in custody since their arrest on April 3, had filed their bail applications on Monday. In the bail application the lawyer has said that all the offenses are punishable for less than 10 years and therefore [...] Continue Reading »
MHADA has sold 11267 flat in Mumbai through lottery in last three years. It is found that still 5505 flat owners are waiting for getting the possession of the flats. MHADA had announced the results of another lottery, though; none of the winners of the 2011 lottery have managed to get the keys to their [...] Continue Reading »
Slum redevelopment schemes as well as redevelopment of old ceased-buildings are playing a key role in real estate development projects in Mumbai. The redevelopment projects will be taken on high priority as the availability of unoccupied land is very less in Mumbai. DB Realty, Tata Housing, HDIL, Unitech, Godrej Properties, Kalpataru group, Omkar Realtors, Hiranandanis, [...] Continue Reading »
The home buyers who have applied for the next year’s draw of lots by the Maharashtra Housing and Area Development Authority (MHADA) may have to wait for two years to get possession of the homes. In the course of its annual lottery, senior MHADA officials announced that they would be releasing a total of 4,272 [...] Continue Reading »
In order to abide by the new development control rules, developers have had to change plans and resubmit them to the BMC. This process will raise the construction cost of the properties in Mumbai. According to different real estate builders of Mumbai, this decision will increase the cost of construction of properties in a range [...] Continue Reading »
In a report by the CRISIL Research, it is reported that there is no scope of reduction of prices for the properties in Mumbai. Though the sale of properties has reduced by 40 percent, a sharp rise in construction and funding costs, in addition to amendments to the Development Control Regulations (DCR), will increase costs [...] Continue Reading »
It is analyzed by a real estate consultant firm that Mumbai has a deeply ingrained work culture. The people of Mumbai always prefer to stay in a place which is closer to their work place. As many companies are expanding their process in the suburbs, new commercial and residential projects are coming up rapidly in [...] Continue Reading »
