Mumbai Properties
The Brihanmumbai Municipal Corporation (BMC) is all set to send the final property tax bill in September. The BMC claims that it has completed the billing process and is currently working on the refunds. The civic body is in the process of computerizing the property tax collection system and is planning to use it to [...] Continue Reading »
According to reports of BNP Paribas Real Estate, rental values of office space in Mumbai has witnessed a decline. Sequential decline in the range of 3 per cent to 11 per cent is seen during the quarter ended June 30. The report shows that rent came down in central business district Nariman Point by 3 [...] Continue Reading »
Real estate and home finance executives have stated that Pune and New Delhi have overtaken Mumbai with steady home loan demand. India’s financial capital does not offer a rosy picture for the real estate sector as there are not many new projects that sell in big numbers. In the recent past, most sales have been [...] Continue Reading »
As revealed by sources, in Mumbai‘s real estate market, cash transactions are still prevalent during transactions. The system of demanding an illegal cash payment still exists in many pockets of the city, especially Bandra, Khar and Juhu belts in the western suburbs. In the 1970s, builders used to take 80 per cent in cash and [...] Continue Reading »
Any buyer of immovable property may soon be able to electronically check details regarding the property – whether the property concerned is free of encumbrances, i.e. outstanding mortgage or unpaid taxes. CERSAI, a Government company, plans to soon allow individuals to access the information recorded with the central registry. The central registry is a shared [...] Continue Reading »
At a time when the real estate sector is going through a lean phase and the inventory level of Mumbai is going up propelled by a dip in sales, the traditional upmarket residential enclaves of south Mumbai – are skyrocketing. The city’s plush Nepean Sea Road area sold for a boggling Rs 1.20 lakh a [...] Continue Reading »
Godrej Properties, the real estate development arm of the Godrej Group, through its wholly owned subsidiary Godrej Projects Development Private (GPDPL), recently signed an agreement to redevelop a private society owned property in Ghatkopar, Mumbai. The project is located in the heart of the central suburbs, just off LBS Marg and has excellent connectivity to [...] Continue Reading »
The state government of Maharashtra finds itself in the midst of an all new challenge – considering the application of a construction firm to divert its prime property at Mulund from forest to non-forest area. Oberoi Realty Ltd made an application to the conservator of forests, Nagpur, to divert its 18-acre property on LBS Marg, [...] 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 number of unsold flats in Mumbai are increasing day by day. With the increase in the cost of apartments, the rate of sale in reducing. Still the builders are not showing any interest in reducing the cost of the properties. They are hoping for a better price appreciation in future time. It is estimated [...] Continue Reading »
