Mumbai
In the April-June quarter of 2011, commercial office space market in the country seen strong demand and witnesses over 33 per cent increase in office space. Delhi NCR, Mumbai, Bangalore and Chennai were the leading cities accounting for almost 80% of the entire space that was absorbed in the country. According to a latest survey, [...] Continue Reading »
Every housing society with more than 50 flats must have their professional housing manager. The number of minimum flats will be finalized after talks with the federation of housing societies. Soon it will become mandatory. There are 70,000 housing societies across Maharashtra and nearly 40,000 in the Mumbai-Thane belt. People who act as managing committee [...] Continue Reading »
As per an order issued by the state cooperative department, the society will have the right to allot parking lots and similar open spaces. The order was issued based on a Supreme Court (SC) verdict, which had come down heavily on the sale of the parking lots by builders, a practice the SC termed ‘illegal’. [...] Continue Reading »
According to a recent report by global property consultant Knight Frank, the sale volumes in Mumbai has plummeted more than 70 per cent since 2007. The drop in transaction volumes has hit the Central Mumbai market the hardest. The quantum of unsold inventory makes up over 40% of the units launched in this micro-market. Total [...] Continue Reading »
Mumbai Residential Complex, Sharada Complex situated near Sahar Road, built 52 years ago and which was under renovation collapsed on Saturday causing damage to cars and two-wheelers, but luckily, there were no casualties. Sharada Complex situated near Sahar Road, Chakala, a three storey residential complex built 52 years ago was occupied by a good number [...] Continue Reading »
According to recent finance ministry data that captures the performance of public sector banks, instances of home loan defaults contributing to gross non-performing assets (NPAs) was the highest in the category of loans up to Rs 2 lakh. The figure stood at six per cent in 2010-11, slightly lower than 6.4 per cent in 2009-10. [...] Continue Reading »
The Brihanmumbai Electric Supply and Transport (BEST), that supplies power to south Mumbai, on Wednesday proposed to gradually increase the average cost of supply from its existing average tariff of Rs 4.22 per unit to Rs 5.60 per unit by 2015-16. Power tariff for around 10 lakh consumers in the island city of Mumbai-—from Colaba [...] Continue Reading »
Residents of forest land in Mulund received a setback this weekend when they were asked by the state forest department to pay “additional” money as net present value (NPV) of their flats. “Why is the forest department asking us to pay extra money? It has already collected the NPV as per Supreme Court directives about [...] Continue Reading »
Today real-estate projects in Gujarat have the highest quantum of super-built-up-area (SBUA) in the country, even more than some of the Tier-I cities like Delhi, Kolkata and Bangalore. Developers in the state employ the maximum SBUA, which stands at 50% of the carpet area (defined as the actual area the buyer uses) of both residential [...] Continue Reading »
The Byculla plot is occupied by 11 dilapidated municipal tenanted buildings constructed after 1940 with 278 tenants of Bombay Municipal Corporation (BMC) as well as 162 slumdwellers. BMC has decided to call for public bids to benefit tenants as well as boost its coffers while developing its property at Saat Rasta, Byculla, the Bombay High [...] Continue Reading »
