Mumbai
The Brihanmumbai Municipal Corporation (BMC) has decided to revoke the 10 per cent water cut from September 15. It comes as a welcome gift to Mumbaikars just before the Ganesha festival. The BMC officials state that they have enough water stock required to supply water to the city residents till next year. With the Ganesha [...] Continue Reading »
Real estate consulting firm Knight Frank in their latest report entitled ‘Economy & Realty @ Glance’ for August 2012, has stated that banking institutions have cut down on their lending to the Indian real estate sector. The report says that the waning interest of the banking sector towards commercial real estate lending has been reflected [...] Continue Reading »
Motilal Oswal Private Equity Advisors Pvt. Ltd plans to raise around Rs.500-600 crore to invest in residential projects in large cities. This new fund will be Motilal Oswal’s second in the real estate space. It had earlier raised Rs.200 crore under the India Realty Excellence Fund (IREF) in 2009. This time around, Motilal Oswal wants [...] Continue Reading »
ASK Property Investment Advisors, the property fund arm of ASK Group, plans to launch a $200 million (Rs 1,100 crore) international realty fund next month. When it launches the fund, ASK will join the league of HDFC, IDFC, IL&FS, Indiareit, Kotak and Tata Realty & Infrastucture, which are planning to launch foreign realty funds. ASK [...] Continue Reading »
International property consultant Jones Lang LaSalle has stated that India and China are leading the list of top 20 destinations with the strongest retail real estate momentum. The shopping centre stocks in these countries are projected to grow by around 15 per cent per year until 2020. However, the firm states that India falls short [...] Continue Reading »
In the ongoing tussle, the Bombay high court has settled a long-pending property tax row in favour of the Brihanmumbai Municipal Corporation (BMC). The court ruled that the civic body can fix property tax on the building based on the actual rent charged. The verdict is the latest in the saga of tax tussle between [...] Continue Reading »
Real estate player Prozone CSC, earlier a subsidiary of Provogue India Ltd, will be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on September 12 as an independent entity. Prozone CSC Ltd has gone through the demerger process duly approved by the Mumbai High Court and is scheduled to be listed as [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) has decided to disallow fixed glass sheets on facades. The decision has come on the wake of last week’s blaze at a commercial building in the Bandra-Kurla Complex (BKC), where the firemen found it difficult to access the affected portion from outside in case of buildings with fixed glass facades. [...] Continue Reading »
Global property consultancy services firm Knight Frank states that Indian property market is expected to remain stable in the near future. As compared to falling realty market in European countries, Indian market has been predicted to have a smooth ride. Even as prices in some of the international markets may fall 10-20 per cent in [...] Continue Reading »
Vasai located in western suburbs of Mumbai is an emerging real estate centre with demand and supply of both residential and commercial sectors are on a rise in the vicinity. The suburb’s connectivity to Mumbai central business districts (CBD) and availability of affordable capital value apartments drive the demand in the area. There has been [...] Continue Reading »
