Mumbai
Mumbai could face serious water crisis as the Brihanmumbai Municipal Corporation (BMC) informed the city that its stock of water will last for only 124 days. At present, there is 10 per cent water cut in the city. The current usable water content available is only 62 per cent of what was available last year. [...] Continue Reading »
Taking an initiative; the Bombay Municipal Corporation (BMC) gained the right to levy a premium on transfer of its leasehold plots. The state legislative assembly approved a bill to modify the Mumbai Municipal Corporation (MMC) Act. The step is considered important that will impact redevelopment of over 41,000 properties in Mumbai. The bill provides levy [...] Continue Reading »
Refuting claims made by Praja Foundation, a voluntary organization that focuses on urban and civic issues, that cases of malaria and other sensitive diseases are on the rise in the city, the Brihanmumbai Municipal Corporation (BMC) has stated that malaria cases in the city have dropped drastically. The BMC has disclosed that the numbers of [...] Continue Reading »
The real estate scenario in Mumbai remains grim with fewer buyers showing interest in purchasing property, the number of unsold units in the Mumbai metropolitan region has shot up. As per records, unsold units touched 121.97 million sq ft by June 2012. Of the total unsold stock, about 25% is located in the western suburbs [...] Continue Reading »
The MSEDCL has proposed an average 15% increase in electricity charges for domestic consumers.Strong objection were raised by various organization against the proposed tariff hike by the Maharashtra State Electricity Distribution Company Limited. The complaints demanded the MSEDCL to focus more on recovering dues, reducing power losses and improving efficiency, and follow standard operating procedures. [...] Continue Reading »
As real estate sector in India faces a dip, domestic lenders with major retail loan are keeping an intense look at the situation. While the hub of realty sector, Mumbai, is going through a slump, the lenders are concentrating on the new emerging markets – Pune, Bhopal, Indore, Surat, Nagpur and Ahmedabad. LIC Housing Finance, [...] Continue Reading »
According to a report prepared by Praja Foundation, the city’s state of health is in a bad shape. Along with physical infrastructure, the city’s social infrastructure too is precarious. The report is based on a survey of 15,000 households across various wards in the city. It shows that sensitive diseases have almost doubled in the [...] Continue Reading »
Analysts have expressed their fear that DLF and Indiabulls Real may see further downside. Sudarshan Sukhani, a trade analyst, states that further breakdown is possible in case of both real estate majors. As told to CNBC-TV18, Sukhani suggested that both the companies are on the verge of possible downfall depending on where the Nifty stops. [...] Continue Reading »
As for the quarter ended June 30, 2012, Mahindra Lifespace Developers Ltd (MLDL) has posted a 72 per cent rise in net profit. The strong position of the company is reflected in its operating expansion as it has launched the second phase of its project at Nagpur. Also, during the quarter, it has acquired two [...] Continue Reading »
The escalated price of properties in Mumbai has been much speculated upon and as noticed by the analysts, real estate prices in Mumbai are unlikely to fall due to limited supply. According to the chairman of Oberoi Realty, a major realty player, the present scenario is due to the fact that input costs and raw [...] Continue Reading »
