Mumbai
After establishing strong hold in high–end residential and commercial space, Sunteck Realty is looking to entering the retail commercial segment. A new mini-mall is coming up in Goregaon in northern suburbs of Mumbai is being put up by the firm. The mall will have a mixed development of high-end luxury residential and commercial and retails [...] Continue Reading »
State Bank of India (SBI) are looking forward to raise its home loan portfolio by Rs 2 lakh by March 31, 2015 . The home loan portfolio has recorded a growth of 73.86 per cent against Rs 62,338 crore as on September 30, 2009. The bank will target Tier II and Tier II cities for [...] Continue Reading »
In order to crackdown sloppy work, a policy has been issued by Brihanmumbai Municipal Corporation (BMC) which states that maximum period of redevelopment of property should be four years and levying penalties on developers who cross deadlines. Already over Rs 90 penalties are issued on sub-engineers of road department for not filling up the pot [...] Continue Reading »
Mumbai-based real estate developer, Neev Group has launched a premium residential housing project in Andheri West. The project, Neev Amberwood, would be a redevelopment housing project, which will replace the existing Navnit Cooperative Housing Society Ltd. The project, spread over 2 lakh sq ft area, is located in the heart of the suburb, with four [...] Continue Reading »
Affordable housing has been an issue of concern for government and policymakers. There is a serious scarcity of homes for people who have an income of under Rs 10,000 per month or even less. 12th Plan working group on financing urban infrastructure estimates the housing shortage in the country at nearly 29 million units and [...] Continue Reading »
Shriram Properties, the Bangalore-based realty arm of Shriram Group, is reportedly close to settle a Rs 600 crore debt raised from Germany-based Hypo Real Estate Group during late 2007. Shriram Properties will settle the debt through sale of its IT SEZ in Chennai for Rs 500 crore to Singapore-based Ascendas. Hypo Real Estate Holding AG [...] Continue Reading »
Developers’ body Confederation of Real Estate Developers’ Associations of India (CREDAI) has expressed hopes that housing sales are expected to improve by about 20 percent in major cities during the festival season. The main propellant has been identified as the marginal fall in interest rate on home loans. Buyers waiting for last two years to buy [...] Continue Reading »
While Powai, the Mumbai suburb along the Central Line, has attained a premium tag with respect to real estate, few localities along the same line are still offering residential properties at affordable prices. Bhandup, Ghatkopar, Vikhroli and Mulund are some of those areas. In Powai, the average price is over Rs 11,000 per sq ft. [...] Continue Reading »
Some Juhu citizens have been fighting to save their area from being flooded. The crisis came up after the civic storm water drains (SWD) department allowed a developer to cover and build a recreation ground on top of a section of Irla and Koldongri nullahs. NGOs have joined hands with the residents in their protests [...] Continue Reading »
Pantaloon Retail India Ltd, the country’s largest retailer, has decided to consolidate its business in the top 16 cities and a surrounding network of secondary cities. The decision implies that the retailer would be exiting from smaller towns that don’t fit into this network. Analysts say that the consolidation would help Pantaloon Retail improve profitability [...] Continue Reading »
