Mumbai
The prices of commercial properties continue to rise indefinitely in Mumbai and in spite of this upswing mode, developers find sales and can easily get returns of 15-20% over a certain period of time. Being the financial capital of India, commercial property prices in Mumbai are at an all-time high and also rise with each [...] Continue Reading »
With a Bandra-based builder – Innovative Construction Pvt Ltd – allegedly excavating of a portion of the Worli Hill, residents have expressed the concern that the move will apparently pose a risk to the Brihanmumbai Municipal Corporation’s (BMC) existing 22 million litre capacity reservoir atop the hill. According to the Worli Hill residents, a compound [...] Continue Reading »
With effect from October 2, 2014, the toll tax at all five entry-exit points of Mumbai will be hiked by up to nearly 20 percent. The move will likely harm the Congress and the NCP in the assembly polls. With regard to the imminent increase in toll rates, officials have revealed that the revised toll [...] Continue Reading »
In the run-up to the elections, the Prithviraj Chavan government in Maharashtra has been busily allotting more floor space index (FSI) to real estate projects. The Urban Development Department accounted for the second highest number of files cleared by the Chief Minister’s Office across 49 departments between June and September this year. A total of [...] Continue Reading »
Kalyan-Dombivli, in the outskirts of Mumbai, comes under Kalyan-Dombivli Municipal Corporation (KDMC) and forms a part of Mumbai Metropolitan Region (MMR). The area’s realty market is witnessing boom mainly because of the increasing property values in other suburbs. Another reason quoted for the growth is the increasing demand for affordable housing in Mumbai. According [...] Continue Reading »
A slowing economy, rising interest rates by banks, high inflation and the weak rupee, among others, contributed towards building a negative sentiment among home buyers that resulted in dwindling sales volumes within the residential market. However, the election results, sops for the housing sector in the Union Budget and the reviving economic growth of the [...] Continue Reading »
With the current proposals on slum rehabilitation around the Mumbai airport going nowhere, the civil aviation ministry is proposing a plan to relocate slum dwellers around the airport on the land to be freed, post the removal of slums. According to the civil aviation ministry plan, which has the approval of civil aviation minister Ashok [...] Continue Reading »
The first ‘smart district’ in Mumbai will probably be the Bandra-Kurla Complex (BKC). For the completion of the BKC ‘smart district’ project by the end of this fiscal year, the authorities have called for bids for the project. The MMRDA’s plans with regard to the ‘Smart BKC’ project chiefly include the provision of five services [...] Continue Reading »
Realty developers in Maharashtra could soon face disqualification and cancellation of registrations of their projects. This has created some ripple in the real estate industry and the realtors are trying to take measures to safeguard their companies from this disqualification and cancellation. If a court declares the document (contractual agreement, power of attorney, etc.) giving them the [...] Continue Reading »
A Mazgaon high-rise has become the first in south Mumbai since 2010 to get the BMC approval after height restrictions for high-rises situated close to the Doppler Weather Radar (DWR) were recently lifted by the Bombay High Court. The BMC (Brihanmumbai Municipal Corporation) had earlier issued a policy guideline requiring high-rise projects coming up within [...] Continue Reading »
