Greater Mumbai
A source says that the Indian Railways has introduced tenders and the land parcel given to the successful bidders on a 45-year lease is expected to collect Rs 2,500-3,000 crore. This land is given for commercial development of 4.3 hectares of a prime land parcel in Bandra (east). The Railway Land Development Authority (RLDA) is [...] Continue Reading »
Thane has developed into the fastest growing region of Greater Mumbai with prominent developers like Lodha Group, Rustomjee, Puranik Builders, Kalpataru and Hiranandani pronouncing their presence in the region. Thane residential market turnover in 2011-12 stands at around Rs 5000 crores. The premium segment has seen the highest supply in the last two years. Thane [...] Continue Reading »
Home registrations in Mumbai, in H1 of 2012, have seen a marginal fall of 3.4% compared to the same period last year, whereas in H1 of 2011, home registrations had seen a steep fall of 22% against H1 of 2010. This data shows some signs of progress in the Mumbai residential property market on a [...] Continue Reading »
Mumbai Tenants’ associations say that if the government wants to increase the supply, it should do so by levying a ‘vacancy tax‘ on vacant and unsold flats in Greater Mumbai. The associations’ call follows a recent proposal mooted by the Centre-draft Model Residential Tenancy Act 2011-to do away with antiquated rent control legislation and bring [...] Continue Reading »
Mumbai realty experts feels Mumbai property prices likely to drop. Though not all realty experts may agree on that, the general sense is that prices will correct by at least 15 per cent in the next six months. With 93,000 under-construction properties and ready-for-possession homes still unsold, the ‘weighted average’ cost of a flat in [...] Continue Reading »
