Mumbai
The Maharashtra government, plans to implement the recommendations of the Asthana Committee in the rental housing project. The project involves construction of 5 lakh flats in Mumbai Metropolitan Region (covering some areas in nearby districts) and giving them out on rent. The rent for these flats is expected to be Rs.800 – Rs.1,500. The rental [...] Continue Reading »
Maharashtra Housing and Area Development Authority (MHADA) had conducted MHADA lottery in 2010 to sell its flats, but the lottery winners haven’t got their flats yet. It was the third time MHADA conducted the lottery scheme in order to allot flats in Mankhurd-Mandale belt. Since then, around 3000 lottery winners are still waiting to shift [...] Continue Reading »
The cost of new real estate projects in Mumbai are increasing sharply. But the cost of properties for resale have not increased since 2010. According to a real estate research firm, the developers are artificially raising the cost of the new launched properties. According to a report by the registration department in Mumbai, there has [...] Continue Reading »
Maharashtra Housing and Area Development Authority (MHADA) has planned for a joint venture with private developers to construct residential apartments in Mumbai. MHADA took this decision, as the cost of the properties are rising beyond the reach of the common man and there is a huge difference between demand and supply of residential apartments in [...] Continue Reading »
The Maharashtra Housing and Area Development Authority (MHADA) has started its online lottery system, which failed to work on the very first day. The website itself was not working leading the applicants to panic. MHADA planned to conduct a lottery system to distribute 2593 flats, among which 172 flats belong to high-income category whereas the [...] Continue Reading »
The market is expecting a price correction for the larger township projects in Mumbai, as large inventory involvement in those projects may exert a downward pressure on prices. However, in a recent report by a real estate consulting firm, it is reported that the cost of residential property in Mumbai will start rising in coming [...] Continue Reading »
The developers associations in Mumbai are not expecting any price cut for the properties in Mumbai. Due to the slow approval process, high input cost and the higher lending rate of funds, it is not possible for the developers to reduce the cost of properties in Mumbai. The association of builders (CREDAI and MHCI) are [...] Continue Reading »
A luxurious apartment will be constructed in the place of a famous Studio in Mahalaxmi. One of the oldest studios in the city was bought by Piramal realty. In the joint development agreement with the owner of the studio, Piramal realty will construct a luxurious residential apartment in Mumbai. The total cost of the project [...] Continue Reading »
The real estate builders in Mumbai have called off for strike and it is scheduled for May 3, 2012. The Builders Association of India along with the Maharashtra Chamber of Housing Industry and the Confederation of Real Estate Developers Association of India had called for strike protesting the delay in realty project approvals. According to [...] Continue Reading »
MHADA started repairing the cessed Laxmi apartment in Byculla. A part of the under repairing building has collapsed and two labourers were killed in the incident. According to the fire brigade department, the Laxmi apartment on N M Joshi Road is more than 50 years old. It is a four storey building which was being [...] Continue Reading »
