Mumbai
Reserve Bank of India (RBI) is set to cut the CRR as well as repo rates and bank lending rates to increase liquidity in the system. With this initiative, developers in Mumbai are hoping that with the coming Union Budget 2013, it will improve investment volumes and general growth across real estate sector in Mumbai. Some of [...] Continue Reading »
India’s longest passenger waterway is soon going to be launched in Mumbai. The waterway, also known as ‘water metro’ has been initiated as a passenger water transport system which could ease traffic in south Mumbai. The ministry’s Expert Appraisal Committee (EAC) has given the final nod for the waterways which will be a passenger water transport system [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has decided to buy sewage cleaning and processing machines to do away with manual cleaning. The sewer cleaning machines and high capacity suction units will be used to avoid manual contact with garbage. This initiative has been taken by the civic body witnessing several conservancy workers who have to clean the sewer lines manually, due to [...] Continue Reading »
IL&FS Milestone realty Advisors, one of the property funds is in talks with Blackstone, Morgan Stanley and GIC to seel its entire stakes in a commercial project in Mumbai. The project is worth Rs 1,000 crore revenue and has 1.2 million sq ft of leasable space in three 14-storey towers which is fully occupied. Siemens, Future Group, DHL [...] Continue Reading »
The 40% of government leases of the plots in Mumbai have expired long back, some as far back as the 1950s. Of the 1,282 plots leased, the lease of 532 plots had expired and the government has not bothered to renew it. 51.66 lakh sq mt of leased land situated in South Mumbai is fetching [...] Continue Reading »
Maharashtra Government has recently given green signal to the Churchgate-Virar rail project. The elevated corridor project is meant to ease the city’s suburban rail traffic. The announcement of the approval was pending for quiet a few days. The Rs 21,000 crore budget project will be implemented by the railways and the state government would help in land [...] Continue Reading »
Lodha Group is all set to achieve a new feat which has not been achieved by any other builder. The group is set to get new sales of over 70% this fiscal year to cross the Rs 10,000 crore mark. The MD of the company has claimed that they have been in the Rs 5,000-6,000 [...] Continue Reading »
With the increasing protests from the citizens of Maharashtra against new property tax system, a demand for a stay on the regime has now been made to the state government. Recently, Brihanmumbai Municipal Corporation (BMC) had introduced the new property tax system in the state, following which many protests were witnessed. A MP from North [...] Continue Reading »
Mumbai- The governor of Maharashtra signed the long awaited 97th constitutional amendment which is expected to give the housing society committees autonomy. Although there have been various mixed responses from the activists and property lawyers, the powers of Deputy Registrars will be minimized with societies being granted the independence they have been craving for. The amendment article was introduced as [...] Continue Reading »
Mumbai- With rising number of oppositions to the new property tax system introduced by the Brihanmumbai Municipal Corporation (BMC), the Maharashtra chief minister has been requested to issue stay on the regime. One of the member of parliament has asked CM Prithviraj Chavan to order a stay against the new system because under the new [...] Continue Reading »
