Cities
Ceejay House in Mumbai, which once demanded the highest rents, is far more affordable today. Rents per month have plunged to between R300 and R350 per sq ft and while to the rest of the market these may be at a premium, they’re way lower than the average seen six years ago of R400 to [...] Continue Reading »
The Union Cabinet has deferred its decision on transfer of land for the construction of a world-class exhibition centre and air cargo complex near IGI airport here, thereby delaying the project. The issue was discussed on April 25 at the Cabinet meeting. “On the matter the Cabinet has deferred a decision in its meeting. The [...] Continue Reading »
A 63 per cent fall is reported in consolidated net profit of Mumbai-based Mahindra Lifespaces for the fourth quarter ended March 31 at Rs 30.3 crore against Rs 81.74 crore in the year ago period. From Rs 141 crore in the previous fiscal, in 2013-14 fiscal, the company’s consolidated net profit slid by 29 per [...] Continue Reading »
Passing relief to property owners in Lutyens’ Delhi, NDMC has revised land rates. The civic agency has decided to go with Delhi Development Authority’s land rates instead of the Delhi government’s circle rates, which it had adopted in 2008. This means there will be a massive drop in prices: what cost Rs 19.35 lakh per [...] Continue Reading »
Commercial offices are moving up north and Nariman Point is seeing lesser takers. In fact, old Mumbai’s central business district (CBD) is losing its glory. A report by JLL, titled Mumbai Offices 2020, explains that the transition is due to lack of quality office stock and the complicated ownership structure that was evident throughout South [...] Continue Reading »
Maharashtra Chief Minister Prithviraj Chauhan has said he would look into concerns of the buyers and promised a “pro-buyer” regulator when it comes into existence. The state has implemented Maharashtra Housing Regulation and Development Act 2012, which will set up a first-of-its-kind state regulator for the real estate sector. The act is based on the [...] Continue Reading »
Santacruz-Chembur Link Road (SCLR) is India’s first double decker flyover. The work for the project was undertaken under the Mumbai Urban Transport Project of MMRDA. Starting from Vakola Junction on the Western Express Highway and extending up to Amar Mahal Junction near the Eastern Express Highway, it provides the much-needed east-west connectivity in Mumbai. Short [...] Continue Reading »
In April 2013, a fire destroyed a slum cluster in Bawana. Recently, over 1,200 families – at least 4,000 people – lost their homes in a fire in Masoodpur Village. The houses in the slums are built of highly inflammable discarded stuff, including wood, plastics and frayed tent material. Most of the times, the authorities [...] Continue Reading »
The property tax department of the Pune Municipal Corporation (PMC) has started its own website to resolve property tax issues of the citizens. Through the website, the agency will address concerns like faulty tax bills and cases of incorrect imposition of tax. PMC’s tax department head Hemant Nikam explains that the property tax department’s information [...] Continue Reading »
Bruhat Bangalore Mahanagara Palike (BBMP) will start accepting property tax through for 2014-15 through cheque, demand draft and pay order. A few citizens’ groups and senior citizens appealed to the BBMP officials to provide the option of payment through cheques. In case of payment by cheque, temporary acknowledgement will be given at first. After the [...] Continue Reading »
