Mumbai
Before Ganeshotsav, Brihanmumbai Municipal Corporation (BMC) was under pressure from mandals and politicians to fill the potholes on roads. After the festival is over, the mandals are facing the heat of the municipal body. Ganesh mandals are being criticized for not filling up the pits that had been dug to erect pandals during Ganeshotsav. BMC [...] Continue Reading »
From October 4, the state government will provide a new facility which will allow Mumbai residents to register their property documents virtually from 7 am to 9pm. Currently, the property registration takes place between 10am and 5pm. The two new offices set up at Adarsh Nagar in Worli will be inaugurated by Revenue minister, Balasaheb [...] Continue Reading »
The State Bank of India (SBI) is planning to showcase ‘lower equated monthly installment savings investment proposition’ to their existing customers as well as prospective customers including home loan customers of other banks and housing finance companies. The bank has lowered the equated monthly installments (EMIs) on home loans by about Rs. 15-19 across the [...] Continue Reading »
Since the property registration process went online in July, people visiting the sub-registrar office at Chembur (East) are facing delays to get their documents registered. An average of 50 registrations used to take place at the office before the process went online. Lately, the number of registrations that take place is 30 or it is [...] Continue Reading »
The Maharashtra Housing Department has offered a major relief to flat buyers and society residents. The state government has said that there is no need for a no-objection certificate (NOC) from the developer for sale or transfer of flat (resale) in a fully constructed building. The clarification has come after allegations of developers illegally collecting [...] Continue Reading »
Prices of mid-segment properties have risen as investors are beginning to shun luxury segment due to poor returns and are now seeking to invest in lower-priced properties. Real estate agents, on their part, are now pitching mid-income homes which are priced at Rs 40-70 lakh to the investors who were earlier investing in luxury homes. [...] Continue Reading »
Mumbai-based real estate major Godrej Properties Ltd (GPL) will raise Rs 200 crore by issuing commercial paper. It will allow the firm to raise money from a broad set of investors at attractive rates, largely for working capital requirements. GPL sources state that commercial paper provides for better rates with a wider set of investors [...] Continue Reading »
HDFC Portfolio Management Services (PMS), a division of HDFC Asset Management, has sold its 50 per cent stake in property developer Runwal Group‘s project in Mulund suburb of Mumbai for 250 crore. HDFC PMS‘ exit from this project is one of the largest realty fund exits in terms of returns. With 250-crore exit, HDFC PMS [...] Continue Reading »
US-based American Real Estate plans to open three multi- specialty hospitals and small clinics in Maharashtra, Gujarat and Madhya Pradesh. The real estate firm is looking to set up 500 bed hospitals each in Gujarat, Maharashtra and Madhya Pradesh. The firm has already identified land near Surat in Gujarat and Indore in Madhya Pradesh for [...] Continue Reading »
National President of the Confederation of Real Estate Developers Association of India (CREDAI) – Lalit Kumar Jain has asserted that reforms are necessary to boost the struggling realty sector. He says that there is a shortage of 31 million houses in India of which 26 million are in the economically weak and low income group [...] Continue Reading »
