Mumbai
The Brihanmumbai Municipal Corporation (BMC) plans to spend Rs 980 crore on concretization and upgrading of asphalt roads. The civic body will float the tenders soon and the work will most likely begin in October. Seeking to redress the pitiful condition of roads in the city, BMC plans to introduce measures to ensure quality work [...] Continue Reading »
In the wake of rising urbanistaion, the state revenue department is planning a policy to regulate urbanization and create special squads to keep illegal construction under control. When asked question related to illegal constructions, revenue minister Balasaheb Thorat told that a comprehensive policy will be announced in the next three months. He said the proposal [...] Continue Reading »
A lot of buyers find themselves in a fix before buying a flat because the developer does not hand over the project to the tenants despite its completion. Many factors can be behind this – there might not be a registered housing society, developer may not have received the occupancy certificate (OC) from the civic [...] Continue Reading »
The leading UK-based industrialist The Hinduja Group has announced its entry into the real estate industry of India. The group with a global presence in core sectors like oil and gas, automotive, power, IT, banking and finance announced an investment of up to $ 15 billion in Indian realty. The group has already acquired a [...] Continue Reading »
While big realty players like DLF and Unitech seem likely to sell their non-core assets like hotels smaller developers realize an advantage in developing hotels as it increases project valuations. According to industry analysts, real estate players can extract the best valuation by doing mixed land development where they build hotels along with residential and [...] Continue Reading »
Fitch Ratings has upgraded Ansal Housing and Construction Ltd’s long-term rating and declared it stable. The rating comes as a good sign to the real estate industry as Ansal has been one of the major and reliable players with over two-decade experience in the domestic real estate business. The rating reflects regular servicing of term [...] Continue Reading »
According to a recent report from Prabhudas Lilladher, property sales registrations in Mumbai in the first quarter of the current fiscal were up six per cent on a sequential basis. The report stated that March-May period saw registrations crossing the 5,000-mark. NRI-led demand due to significant weakening of the rupee may have played its part [...] Continue Reading »
Bandra-Kurla Complex (BKC), that houses many corporate offices may gradually change intoa high-end residential enclave as the state government declared plans to increase the amount of residential space at this suburban commercial hub by altering a few plot reservations from commercial to residential. The transformation of BKC into a well-off residential-cum-commercial pocket-borough would mean it [...] Continue Reading »
In a case involving residents caught between the civic body and the builder, the residents of Green Heritage society at Kharghar in Navi Mumbai were in shock as portion of their society has been ordered to be demolished by the civic authorities. The authorities have issued notice to vacate the premises to facilitate the demolition [...] Continue Reading »
Maharashtra state would bring a policy to re-develop dangerous and illegal constructions in the state said Chief Minister Prithviraj Chavan in a debate in the Legislative Assembly. There were 1,106 dangerous and 57 severely dangerous buildings in Thane and majority of these buildings are illegal structures, said Chavan. As per the Maharashtra Regional Town Planning [...] Continue Reading »
