Mumbai
As real estate is going through a crisis specially in cities like Mumbai, builders are struggling through the bureaucratic hurdles involved in getting a project cleared. The builders are forced to go through a tangled clearance procedure as they have to approach a host of state and central departments that take their own time clearing [...] Continue Reading »
The private equity arm of Housing Development Finance Corporation (HDFC), HDFC Property Fund, plans to raise a $500-million real estate off shore fund by the end of 2012. The company is planning to raise the capital in a single close deal and is in talks with sovereign funds, including Government of Singapore Investment Corporation (GIC) [...] Continue Reading »
Old and decaying underground utilities have worsened the road conditions in Mumbai as many of them have been suffered cave-ins recently. Pedder Road, Dr E Moses Road and Dr Annie Besant Road are among those roads who have witnessed cave-ins and portions of the roads have collapsed. The Brihanmumbai Municipal Corporation (BMC) do not have [...] Continue Reading »
Representatives of banks have expressed that they want the Reserve Bank of India (RBI) to relax the norms on asset classification in the real estate sector to facilitate credit flow. The revelation came in the wake of the finance ministry asking banks to increase lending to residential housing projects, so as to revive the cash [...] Continue Reading »
Mumbai’s current water stock is at its highest in four years. However, the civic body will still not be able to supply the extra water needed to reduce the city’s water deficit from the Middle Vaitarna project this year. Two components of the project – a tunnel and a water treatment plant, which are being [...] Continue Reading »
The newly constructed buildings in Mumbai lack rainwater harvesting system. The fact has been brought into notice by social activists. Brihanmumbai Municipal Corporation (BMC) made it mandatory for the new buildings to have rain water harvesting system in 2007. The civil administration has allocated about Rs1 crore to the rain water harvesting cell under the [...] Continue Reading »
Analysts are of the opinion that housing prices are not likely to fall anytime soon. They blame the domestic as well as foreign investors, including NRIs, for this. High property prices are not even helping developers as they are in debt. The cash generated by selling properties turns out to be much less than what [...] Continue Reading »
As the concept of green buildings is gaining ground among developers, the Indian Green Building Council (IGBC) expects nearly 2 billion square feet of sustained building footprint to come up by 2015. At present, there are 1,745 eco-friendly building projects with over 1.21 billion sq ft of green footprint are registered with the IGBC. IGBC [...] Continue Reading »
The State Bank of India (SBI) has recently made an announcement of cutting its base rate by 25 bps to 9.75 per cent. Although it is likely to positively impact the home loan segment, most realtors and analysts feel that it will not prove to be a saviour for a majority of home owners in [...] Continue Reading »
The festive season is unlikely to bring cheer to developers as buyers are shying away from properties due to escalating and unrealistic prices. Although developers have tried various means to boost sales – such as offering freebies and discounts, home sales continue to go through a dismal phase. Analysts feel that until prices are corrected, [...] Continue Reading »
