Mumbai
A new model has been introduced by Pratap Dighavkar, deputy commissioner of police (Zone IX) to have a cohesive group of citizens and assign 8-10 housing societies to one constable in Mumbai. He will liaise with secretaries of the societies and maintain data of security guards. The constable will also get in touch with security [...] Continue Reading »
With the increase in policy rates by the central bank on Tuesday can impact the financial performance of the real estate sector. Increase in policy will have much lower impact on the realtors with strong cash flows. According to a Citibank study, the upward revision in the increase cost will have much lower impact on [...] Continue Reading »
Mumbai state government cleared 100% premium on the additional 25% Floor Space Index (FSI). While the premium charged on residential projects has been fixed at 100%, the premium for industrial areas will be charged at 125% while that for commercial projects will be fixed at 150%. Currently, builders are known to sell flats with added [...] Continue Reading »
BMC Mumbai sinks Rs 64 Lakh in renovation of a half-acre park in Sion Mumbai. The shoddy work has already left much of the facilities unusable. Local corporator Upendra Doshi billed the BMC Rs 9.52 lakh for carpeting H B Shivdasani Udyan, the public park opposite SIES College, Sion (West), with red earth, revealed an [...] Continue Reading »
A ‘cool roof’ is one treated with a coating to reduce the amount of absorbed solar radiation and heat. Research suggests that such roofs are more reflective that the conventional ones. Leading to savings on your AC bill. This, in turn, reduces carbon emissions and helps in promoting a cooler and a greener planet. To [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC), Mumbai, which has budgeted Rs 40 cr this year to fix bad patches and potholes, continues carrying out repair work during the four months of the monsoon. But heavy rain this year has prevented them from doing their job properly. Even flyovers have developed potholes. Due to constant criticism from [...] Continue Reading »
A 1,500-sq-ft flat can grow to 2,500 to 4,000 sq ft and cost Rs 10 crore to Rs 16 crore. The main intention is to amalgamate extra spaces with the original carpet area to create one large flat. Law-abiding citizens who buy such flats become criminals and, therefore, corrupt civic officials can keep returning to [...] Continue Reading »
Mumbai-based RNA Builders (NG) have to pay Rs 1 lakh fine for the failure in handing over the flats to their buyers. The forum National Consumer Disputes Redressal Commission then ordered the builder to return the money along with compensation.The complainants, however, were aggrieved at this ruling as they did not want the money, but [...] Continue Reading »
To be tabled in the monsoon session, which will kick off at the end of July, the authority will act as a quasi-judicial body that will deal with protection of consumers. With the state government all set to form a housing regulatory authority, the disputes between flat owners and developers will see quick redressal. The [...] Continue Reading »
With no visible signs of a meaningful correction in property prices, a growing trend of people preferring to stay on rent in Mumbai. Since December 2010, lease agreements have increased by 20% to touch a new high of 10,191 in June 2011. Sales data from the registration department further speaks for itself. In June 2011, [...] Continue Reading »
