Kandivali
In Mumbai, on Saturday, Christians are going to march to Azad Maidan to protest for land acquisition notices issued to various churches and church-run schools. The protest is being conducted under the banner of Save Our Land (SOUL). Activists say, since December they have been approaching various authorities including the municipal commissioner to withdraw the [...] Continue Reading »
In the Jan-Mar 2013 quarter, Mumbai has witnessed a slow down in the property launches. If sources are to be believed, then it was less than the Oct-Dec 2012 quarter launches which may be due to festivals like Diwali. As per research firm Liases Foras, in the Oct-Dec 2012 quarter, all over India including Mumbai [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) has recently spent public funds to fill up a pond which is supposed to be a heritage property. BMC has invested Rs 5.25 crore to fill a 100 year old pond located at Kandivali West with debris. The pond belongs to the collector and not the civic body, still BMC [...] Continue Reading »
A builder in Mumbai has been penalized for terminating a sale agreement of a flat on the grounds of alleged late payment which brings in relief to the buyer. Maharashtra State Consumer Disputes Redressal Commission has directed the builder to pay Rs 2.25 lakh as compensation to the buyer in Kandivali. The Redressal Forum observed [...] Continue Reading »
A recent survey by broking house Karvy shows that old apartments in Mumbai have more resale value and provide better investment opportunities as compared to new properties. The survey included inspection of 65 Mumbai and suburban properties. The higher resale value attributes to redevelopment prospects of the old properties. Also the fact that new projects [...] Continue Reading »
Commercial rent trends in the first quarter of 2012 have been idle with rates almost constant, except in some places in major cities of India where there has been a growth. Commercial rents in Lajpat Nagar and Greater Kailash in Delhi have been hopeful as they are preferred choices for commercial renting due to connectivity [...] Continue Reading »
BMC Chief tightens screws on builders seeking concessions and contended that many builders later misuse concessions and sell space not included in the building’s floor space index (FSI). Civic chief Subodh Kumar has rattled the construction industry by routinely rejecting or drastically reducing concessions sought by builders. The BMC has refused to clear the project [...] Continue Reading »
