Mumbai
17-acre plot of DLF in Mumbai’s Lower Parel area might be sold at Rs 2900 crore. India’s biggest real estate firm DLF has planned to sale the land to reduce its debt burden. It is said by a DLF official that the Mumbai-based builder Lodha Group and American private equity fund Vornado Realty Trust had [...] Continue Reading »
The demand for commercial real estate in Mumbai has witnessing a lower trend as the market is oversupplied by available properties. As the demand for apartments in Mumbai has reduced in last year, most of the builders in Mumbai have shifted to construction of commercial properties, which has increased the supply level. Now the developers [...] Continue Reading »
The size of Mumbai is increasing. According to 1991 development plan, the size of the city was 437.71 sq km. While at the latest city plan it is observed that the area of the city has been increased to 457.17 sq km. This increase happened due to the change in definition of the open spaces. [...] Continue Reading »
The capital value-based regime and contending new property tax rule of Mumbai goes to High Court for proper justice. In a petition the applicant has said to the court that the present tax hike for the properties in Mumbai is unequal and is injustice to certain property-owners in the city. Under the new tax regime, [...] Continue Reading »
The builders of Mumbai are witnessing rising demand for the low and mid segment housing projects in Mumbai. Hence the builders are planning to launch a new affordable housing project in and surrounding areas of Mumbai. It is also noticed that the demand for 1 BHK house is increasing than larger apartments. Earlier real estate [...] Continue Reading »
The private equity fund of IIFL has planned to invest in a central Mumbai slum redevelopment project. The PE fund, IIFL Real Estate Fund has committed to invest Rs 80 crore in a housing society-cum-slum-redevelopment project in Mumbai’s Sion Koliwada area. The redevelopment project will construct about 1.2 million sq ft sale able space. The [...] Continue Reading »
The state government has proposed to give 2.5 floor space index (FSI) to dilapidated buildings in the Mumbai Metropolitan Region. With this decision the builders will get the chance to construct more apartments, which will definitely increase the supply of the properties in Mumbai region. The government officials have confirmed that the decision to give [...] Continue Reading »
The residential projects in Mumbai has started getting approval for their constructions. Recently a luxurious residential project in central Mumbai got the approvals needed to start construction. The project was launched by India bulls Real Estate Ltd. The builders and developers in Mumbai are now hopeful that project launches will resume in Mumbai, after a [...] Continue Reading »
The residential property market in Mumbai has shown a negative growth of – 9.1 percent by the year ended in March 2012. According to a realty analyst firm, the performance of the sales market in Mumbai real estate has suffered by the global crisis. Though the cost of properties in Mumbai [...] Continue Reading »
As the state government of Maharashtra has proposed a hike in the stamp duty of the property transaction, the buyers of the residential and non-residential properties in Mumbai will have to pay a five per cent stamp duty on the market value of the property. Earlier, the stamp duty in Mumbai was charged at Rs [...] Continue Reading »
