Mumbai Metropolitan Region (MMR)
Around 400 projects across the Mumbai Metropolitan Region (MMR) are awaiting appraisal for environment clearances since July since the regulatory body has remained non-functional for two months. These projects not only pertain to real estate development, but also to information technology parks, commercial hubs, college expansion and hospital revamp plans. They are pending appraisal by [...] Continue Reading »
Reliance Infrastructure sings the song of hope as it waits for the nod to set up the Mumbai Metro line in the next ten days, says a source. The company now waits eagerly for the Indian Railway Board to give it’s final approval, and then the project is scheduled to begin with its commercial operations [...] Continue Reading »
Bangalore has surpassed bigger property markets such as Mumbai, Delhi and Chennai. Real estate research firm PropEquity says that the Southern city recorded a 140% growth in the quarter till June over the year-ago period. As sales in most other cities stagnated or decreased, Bangalore witnessed sale of 15.58 million sq ft of residential space [...] Continue Reading »
An RTI query has revealed that the maximum number of complaints received by consumer forums in the Mumbai Metropolitan Region (MMR) belongs to housing matters. Of 24,278 complaints received by MMR’s six forums in last 15 years, housing comes at the top with 7,499. The obvious reasons seem to be skyrocketing house prices added with [...] Continue Reading »
The anxiety among home buyers in the Mumbai Metropolitan Region (MMR) seem to be soaring with Mumbai, Navi Mumbai and extended suburbs of central and western Mumbai seem to have been infested with more and more projects getting delayed. As per data more than 50 per cent of residential developments in the city are under-construction. [...] Continue Reading »
With a little over one lakh residential flats lying unsold in Mumbai, an inventory, according to experts, which will take more than three years to clear as not much of it is available for immediate possession, the Mumbai real estate horizon looks grim. According to data from property research firm Knight Frank, sale of Mumbai [...] Continue Reading »
Indian realty market witnessed nosedive in the April-June quarter of 2012. Sales volume and absorption rates were low in the residential sector. High inventory and slow execution of projects, were the major concerns. The commercial real estate market experienced low office space absorption and a slight drop in rentals in the metros. Experts feel that [...] Continue Reading »
Mumbai Metropolitan region (MMR), which normally has an annual flat sales average of 80,000 units, declines with only 45,000 apartments sold in the year 2011-12. According to the Knight Frank research report released on Thursday the market has an unsold inventory of 80,000 flats valued at Rs 1.05 lakh crore. Sales in the financial year 2012 [...] Continue Reading »
According to a recent report by property consultants PropEquity, the property sales across the Mumbai Metropolitan Region (MMR) have witnessed a fall of more than 50 per cent. In the first quarter of 2012, absorption of residential property has fallen to 11,473 units compared to 27,676 units in Q1 of 2011. The total residential supply [...] Continue Reading »
Real estate market experts feel that property prices may come down, but however, it depends on the holding power of the builders. The real estate sales volume has dropped down in six of the major cities in India. Mumbai Metropolitan Region (MMR) witnessed 50 per cent drop, Gurgaon 45 per cent, Hyderabad 34 per cent, [...] Continue Reading »
