Mumbai
According to property consultancy firm Jones Lang LaSalle India (JLL), consolidated absorption of office space in the past six quarters has caused appreciation of rental growth across the country. Majority of gross rental appreciation during the period from Q4, 2010 to Q1, 2012 was witnessed in tier-I cities including Bangalore, Mumbai, Delhi and Gurgaon. Chennai, [...] Continue Reading »
According to Cushman & Wakefield (C&W), residential property launches across major cities in India fell by nearly 44% to 17,500 units in the second quarter of 2012. C&W cites the prime reasons behind the fall being delay in approvals, significant inventory in certain places and postponement of project to accord new launches with the festival [...] Continue Reading »
Notwithstanding the prevailing negative sentiment, commercial real estate services firm CBRE says retail real estate market in India seems to be promising. In its survey titled ‘India Retail Market view’, CBRE states that leading brands and retailers are pursuing expansion plans aggressively across India. The survey mentions that leading brands are increasing their presence across [...] Continue Reading »
The sales tax department of Mumbai raided offices of 15 builders including Marathon, Ajmera, Keystone, Bhoomi realty, Naman and Acme, for evading payment of value added tax (VAT) and recovered Rs 20 crores. The Bombay high court had upheld the 1% VAT imposed on the sale of properties by the state in April. The builders had [...] Continue Reading »
According to a Reuters poll, house prices in India have no signs of coming down in the current financial year. House prices have almost doubled in the past five years and the scenario continues to look gloomy for the buyers. However, as per the poll prediction, prices in Mumbai have a fair chance to fall [...] Continue Reading »
Real estate firms and property consultants today expressed disappointment over RBI’s decision to keep rates unchanged. There were no change in the rates in previous policy announcement and the real estate sector was expecting a rate cut this time around. Experts maintain that the sector urgently needs cut in interest rates to boost housing demand. [...] Continue Reading »
Civic corporators in Mumbai have unanimously passed a resolution at the civic general body meeting on Tuesday calling for a 150% hike in their monthly remuneration, from Rs10,000 to Rs. 25,000. If it receives legal sanction, the hike will be paid by taxpayers’ money. According to the corporators, the current remuneration is a measley sum [...] Continue Reading »
At a time when Mumbaikars are suffering from water cuts due to deficient rainfall, cloud seeding is the means the Brihanmumbai Municipal Corporation (BMC) is looking forward to. The BMC has decided to rope in Israel’s national water company, Mekorot for this purpose. The plan is to carry out cloud seeding operations in the areas [...] Continue Reading »
The Brihanmumbai municipal corporation (BMC) on Tuesday held a programme to spread awareness as part of its anti-plastic initiative in parts of Kandivali, Borivali and Dahisar. The initiative was taken in association with city NGO Helping Hands Charitable Trust. During the programme, deputy municipal commissioners Rajendra Bhosle and Bharat Marathe appealed to the attendees to [...] Continue Reading »
Retired lieutenant general Tejinder Singh,a member of the Adarsh housing society, has said the inquiry commission that the Adarsh building was not a security threat to any army installations. He said he did not paid any attention to the security concerns of the defence department as he felt the building did not pose any threat [...] Continue Reading »
