Mumbai
With major infrastructure developments such as the Metro and Monorail coming up in Mumbai, property prices have shot up in areas where infrastructure development initiatives have come up. Proposed transport systems have pushed the real estate values in Wadala-Chembur area where the first phase of Monorail is coming up. The Mumbai Metropolitan Region Development Authority [...] Continue Reading »
The National Housing Bank data shows a peculiar trend that despite economic slowdown in the country, house prices have not suffered. Apparently, house prices have managed to beat the economic slowdown. Rates displayed a rising trend in the April-June quarter as shown in the survey. National Housing Bank showed Pune posted the highest gains in [...] Continue Reading »
Statistics show that Mumbai-based real estate firm Housing Development and Infrastructure Ltd’s (HDIL) gross debt has come down by 5 per cent in the first six months of the current calendar year and stood at Rs 4,040 crore as on June 30. However, HDIL reported 44 per cent fall in net profit. Profit stands at [...] Continue Reading »
The sub standard rainfall this monsoon has compelled Brihanmumbai Municipal Corporation (BMC) to divert excess water from overflowing Modak Sagar to the Vihar lake to up its stock level. Of the six reservoirs that supply water to Mumbai, two reservoirs, Tulsi and Vihar, are located in the city, while the rest are situated in the [...] Continue Reading »
The much-debated Maharashtra Housing (Regulation and Development) Bill has inched towards implementation as it received a verbal consent to the contents of the bill from governor K Sankarnarayanan. Approved by the state legislature in the monsoon session of the assembly, the bill had been sent to the governor’s office for consideration. Based on a representation [...] Continue Reading »
Developers in Maharashtra seem to be apprehensive of the regulatory measures proposed by the state and central government. As the developers already have disclosed their presentiment about the state government’s housing regulatory bill, the presentiment deepens as the centre is now set to introduce its own regulatory authority for the real estate sector. Maharashtra Chamber [...] Continue Reading »
Confederation of Real Estate Developers’ Association India(CREDAI) has endeavoured to raise the real estate appreciation bar. The developers’ apex body has recently felicitated the Archaeological Survey of India (ASI) with the ‘Best Maintained National Monument’ award for their maintenance of the historic Fatehpur Sikri. CREDAI also honoured Shantilal Muttha, Chairman and Managing Director of Muttha [...] Continue Reading »
Drop in sales seem to have no impact on prices of property in Mumbai. Stamp duty and registration data of flat sales clearly indicate a downward trend but developers and investors seem to be holding on to hiking prices in the financial capital. According to Groffr, a group buying portal, Mumbai’s real estate have taken [...] Continue Reading »
According to reports of BNP Paribas Real Estate, rental values of office space in Mumbai has witnessed a decline. Sequential decline in the range of 3 per cent to 11 per cent is seen during the quarter ended June 30. The report shows that rent came down in central business district Nariman Point by 3 [...] Continue Reading »
Brokerage firm Kim Eng Securities in their recent report have stated that despite a slowdown in the real estate market, property prices continue to rise. Residential property prices have risen 33 per cent in Greater Noida, 30 per cent each in Noida, Gurgaon and Mumbai and 35 per cent in Chennai over a period of [...] Continue Reading »
