Mumbai Metropolitan Region
The real estate scenario in Mumbai remains grim with fewer buyers showing interest in purchasing property, the number of unsold units in the Mumbai metropolitan region has shot up. As per records, unsold units touched 121.97 million sq ft by June 2012. Of the total unsold stock, about 25% is located in the western suburbs [...] Continue Reading »
The escalated price of properties in Mumbai has been much speculated upon and as noticed by the analysts, real estate prices in Mumbai are unlikely to fall due to limited supply. According to the chairman of Oberoi Realty, a major realty player, the present scenario is due to the fact that input costs and raw [...] Continue Reading »
The slowdown in sales of properties in Mumbai has largely hit the luxury segment. According to the real estate consulting firm Knight Frank an estimated 80,000 unsold houses under construction are in the Mumbai Metropolitan Region (MMR). The study reveals that South and Central Mumbai are the worst hit. While there are takers for units [...] Continue Reading »
Knight Frank Research, a property consultancy firm, analyzed residential market comprising projects with a sales potential of above Rs 30 crore in Mumbai Metropolitan Region. Their analysis shows that Mumbai real estate market for high-end homes has stagnated during financial year 2012. Absorption numbers for high-end homes in 2011-12 are estimated to have dropped by [...] Continue Reading »
The Mumbai home sales market has stagnated in June due to high prices and most buyers stop purchasing and expect the prices to come down. The Mumbai real estate market piles up with unsold inventory amounting to 80,000 units which forms 37 per cent of the total residential supply under construction. However, rising inventory with [...] Continue Reading »
The Mumbai apartments sale in the financial year 2012 dropped by more than 60% from its peak in 2007 and 35% from 2011. The city’s real estate market has stagnated with only 45,000 apartments sold in the Mumbai metropolitan region (MMR) during 2011-12, well below the market average of 80,000 units annually. A report released by Knight Frank research [...] Continue Reading »
Due to an increase in property prices and poor salary increments, home sales witnessed a slump in New Delhi. Manas Tripathi, an executive at a Delhi-based car company, said since property prices have gone up and only 5 per cent of increment in salary, he is not able to take a huge housing loan. He [...] Continue Reading »
The Maharashtra government, plans to implement the recommendations of the Asthana Committee in the rental housing project. The project involves construction of 5 lakh flats in Mumbai Metropolitan Region (covering some areas in nearby districts) and giving them out on rent. The rent for these flats is expected to be Rs.800 – Rs.1,500. The rental [...] Continue Reading »
The developers associations in Mumbai are not expecting any price cut for the properties in Mumbai. Due to the slow approval process, high input cost and the higher lending rate of funds, it is not possible for the developers to reduce the cost of properties in Mumbai. The association of builders (CREDAI and MHCI) are [...] Continue Reading »
The civic officials in Mumbai have found to be running loss to effectively follow up the waste disposal system, nearly 6,000 odd tones of waste that can be re-cycled and also the non-degradable that are dumped frequently. The sites where the dumping is encouraged is traced out to be illegal. The dearth waste being dumped [...] Continue Reading »
