Mumbai
The Union bank of India, a Mumbai based public sector lender, has decreased the interest rates on home loans above Rs 30 lakhs by 25 basis points. The bank is now offering home loans up to 75 lakhs at the base rate which is 10.5 percent. Loans above Rs 75 lakh and up to Rs [...] Continue Reading »
Mumbai- In the year 2010- 2011, ten bus routes made profits whereas in 2011-2012, only three routes made profit for the BEST. It was disclosed in the budget discussion by BEST committee member Ravi Raja. Ravi Raja further said that during the same time frame the transport body had incurred around 55% loss on bus [...] Continue Reading »
Mumbai- In south Mumbai, a fire broke out in a residential building at Cuffe Parade. The fire broke out on the 19th floor of the 26-storeyed Jolley Marker building. According to report, 16 residents were rescued after the fire broke out and no one was injured in the incident. The fire was doused by the [...] Continue Reading »
There are around 4,500 fleet taxis in Mumbai city and most of them have recalibrated their e-meters. As per the revised tariff, three rupees have been increased. Earlier it was Rs 24 for first one kilometer and Rs 17 for every subsequent kilometer. The revised fare would be Rs 27 for first one kilometer and Rs 20 [...] Continue Reading »
In 2008, conveyance deed was first introduced in the real estate market to protect the interest of home buyers. But this year, hardly 1,200 housing societies have applied for conveyance certificate out of 88,000 and only 700 of them got the deed. The Chief Minister Prithviraj Chavan in a recent meeting said that a statewide drive will [...] Continue Reading »
Mumbai- Earlier, authorities in Maharastra had declined the amendment in the calculation of education and employment guarantee cess in property tax. The amendment was awaiting approval. Recently the state Cabinet approved the proposal in calculating the cess in property tax. However, two Cabinet Ministers Narayan Rane and Naseem Khan showed their dismay over the impact [...] Continue Reading »
To increase the redevelopment work of the damaged buildings, the BMC has come up with an improved market policy to make it productive for developers. The Brihanmumbai Municipal Corporation (BMC) will certainly levy less quality on the sale component of the project and for fungible FSI the estate department will not charge anything. The development plan department will charge [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) is planning to levy tax on tanker companies which draw water from private wells. The civic body has already sent a proposal regarding rampant drawing of water from wells for commercial purpose to the state government for permission. The BMC does not have the power to take those wells as [...] Continue Reading »
Mumbai- Sandhu Palace, the tallest tower on Pali Hill, which is supposed to be the most expensive controversial residential building of Bandra, is up for sale. In October, Sandhu Developers, has put the property for sale at a price of $147 million, or around Rs 800 crore. More than Rs 60,000 per sq ft, was being [...] Continue Reading »
According to a report submitted by DTZ, a property consultant, by 2020 the higher education sector will create real estate demand of around 900 million sq ft. This is to maintain the current gross pupil enrollment ratio of 12 per cent. However, with the current pace, it is not possible to achieve the target before 2036. Gross [...] Continue Reading »
