MCHI-Credai
The rating system would entail the real estate developers to disclose many things. They would have to reveal the exact source of funding for all their projects and also the completion rate of the project every year. Builders turn ferocious against such grading system. This act came into power in the beginning of this year, [...] 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 »
With the new ready reckoner (RR) in place by the state government, the black market in real estate sector is going to get dull. The use of black money in real estate transactions will be minimal. As per experts, the revised RR rates are equal to market rates at most of the localities in Mumbai. [...] Continue Reading »
Most part of the previous year witnessed slump in real estate market. However, December 2012 saw a substantial recovery in home sales registrations. But according to the market experts, the rise in property registrations was only due to marketing gimmick and not a sign of revival. As per data from the Director General of Registrations, [...] Continue Reading »
Maharashtra Government has recently decided to raise ready reckoner (RR) rates in Mumbai by 30%. This is an excess hike compared to last year’s average increase of 12%. The increase in ready reckoner rates is going to affect properties in areas like Prabhadevi, Cuffe Parade and Worli. This increase has been levied from January 1, [...] Continue Reading »
Integrated township has been witnessing a strong demand. The new home buyers are giving more preference for community living that offers a mix of amenities at the doorstep. The state government has implemented some reforms in the township policy to make townships more reasonable. The new policy has been approved by the Chief Minister and [...] Continue Reading »
Realty experts say that Mumbai should focus on sustainable development. According to sources, the sustainable rate in the country is hardly 2.8% when compared to the global standards of about 25%. Since the real estate plays a major role in the development of economy, it is important that sustainable development be adopted on a faster [...] Continue Reading »
