Mumbai
Though the real estate market in India saw a good rate of sales of apartments in 2011, the property market in Mumbai witnessed a downfall in property sale. The major reasons of less number of sale of apartments in Mumbai are the high price of apartments. On the other hand the demand for new apartments [...] Continue Reading »
Everyday people have to travel more in crowded local trains in Mumbai, still they are looking for residential properties in suburban Mumbai and extended part of it. People are expanding their home buying options in Kalyan, Dombivli, Boisar, Vasai, Virar, Titwala, Shahad, Vasind, Ambarnath, Karjat, Pen and Khopoli. As the cost of properties in Mumbai [...] Continue Reading »
The Comptroller and Auditor General (CAG) has revealed the scenario of the real estate sector in Mumbai. In a report (yet to be tabled in the Maharashtra assembly), CAG demonstrate how the MLAs submits fraudulent affidavits and income certificate to prove that they are from lower income group, and manage to acquire properties with very [...] Continue Reading »
In Spite of repeated application and order by the Mumbai High Court, the residents of apartments in Grant Road, Worli, Khar(W) are getting contaminated water which cannot be used for washing hands. Death of two women in Worli was reported who consumed the contaminated water. An outbreak of waterborne diseases occurred in the society of [...] Continue Reading »
A common meeting was held in Bandra with the Municipal Chief and the builders, architects, consultants and the real estate agents to ‘clear the air’ regarding the amended Development Control Rules (DCRs). The meeting was ended with a hint of strike by the builders . In the meeting the commissioner asked the builders to submit [...] Continue Reading »
The government of Mumbai has introduced the new development control regulations for the properties in Mumbai. According to the new Floor Space Index (FSI) calculation, the balcony, flower beds, ducts, car decks, etc. will not be included in the salable floor area. However according to builders association this decision will increase the cost of the [...] Continue Reading »
The real estate-focused private equity (PE) firm ASK Property Investment Advisors Pvt. Ltd has planned to invest Rs 100 crore in the redevelopment project in Mumbai By the Godrej Properties. The ASK group has taken 49% stake of the project. the redevelopment projects are considered as a difficult way of construction. The other PE transaction [...] Continue Reading »
The new property tax system have been stalled for the third time by the civic body in Mumbai. BMC has stalled the offer to implement the new capital value property tax system. However, the only ease is that there will be a provision for rebate for the owners who pay the tax on or before [...] Continue Reading »
The Confederation of Real Estate Developers’ Associations of India (CREDAI) has decided to seek details of various approved projects and the amount of revenue earned by the state government. By this way the builders association want to show the government how much loss they are incurring due to different clearance policies. According to the builders [...] Continue Reading »
A recent study has revealed the investment scenario of Mumbai. It is being recorded that since 2005 only Rs 15305 crore has been invested for basic civic projects. The report also states that Mumbai require additional investment of Rs 27500 crore to finish all the civic projects. All the major investments made on land and [...] Continue Reading »
