Mumbai
Malad East in Mumbai has witnessed a surge in commercial realty market being backed by growing residential demand. The increased residential demand has boosted the commercial scene as there is a huge demand for neighbourhood retail shops to cater to the daily need of the growing residential population.With the increase in number of shops, the [...] Continue Reading »
The mid-sized developers are banking upon the 20:80 scheme in the upcoming festival season. It has been considered a popular marketing tool to attract buyers amidst a slowdown in the real estate business. Under the scheme, which is known as the ‘subvention scheme’, a buyer has to pay only 20 per cent upfront, while the [...] Continue Reading »
Real estate consultants Cushman & Wakefield, in its report entitled ‘Indian Hospitality Story 2012 & Beyond’ has mentioned that the top six cities of the country will witness around 50,000 hotel rooms added over the next five years. The report evaluates the hospitality sector situation in the metros of Mumbai, Delhi, Kolkata, Bangalore, Chennai, and [...] Continue Reading »
Brihanmumbai Municipal Corporation(BMC) has challenged a Bombay High Court (HC) verdict asking it to pay an amount of Rs 50 crore as collective bonus to 40,000 employees. The BMC has been arguing that it has no responsibility to pay bonus as employees had struck work last year. The BMC employees had gone to strike last [...] Continue Reading »
Investors are gradually taking more interest in property developments in Navi Mumbai and Thane. Property consultant CBRE states that the investor’s interest is high in these areas as proposed projects of international airport and other infrastructural developments are coming up. The ever escalating prices in Mumbai and its suburbs is another reason behind the growing [...] Continue Reading »
While the home loan and auto loan market get saturated among the creamy layer of metros, banks seem to concentrate on Tier II and Tier III cities. Whether it be country’s largest mortgage lender, HDFC or other big players like BNP Paribas Home Finance or Kotak Mahindra Bank, everybody is looking at growing small cities. [...] Continue Reading »
Faced with criticism that the Maharashtra government has been stifling the growth of real estate in the state, chief minister Prithviraj Chavan assured the Maharashtra Chamber of Housing Industry (MCHI) that its concerns would be addressed within 45 days. MCHI had raised several issues during a presentation. It claimed that these issues are hampering real [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) will float tenders by this month-end for construction of over 200 new road in 2012-13. The civil body has made a budgetary allocation of Rs 950 crore for roads, including pending work from last fiscal. According to officials, construction work of 129 of 171 major roads have been completed in [...] Continue Reading »
The revenue-share model had been introduced by malls during 2008 downturn to lure in retailers. However, the model seems to become a noose as retailers have been suffered from fewer footfalls and tight consumer spending. Phoenix Marketcity in Kurla, the biggest mall in Mumbai, reportedly has still not been able to earn a single rupee [...] Continue Reading »
CREDAI, the apex body of realtors, welcomed the RBI’s decision to cut cash reserve ratio (CRR) by 0.25 per cent. However, they also felt that reduction in repo rate was needed to boost the real estate sector. The Indian real estate industry has expressed hope that a part of Rs 17,000-crore worth liquidity infused by [...] Continue Reading »
