Mumbai
The RBI is concerned about transparency in the system. If good projects come up, banks will fund them. Lending to the sector will not decline but what would really impact the sector is the time-consuming process of obtaining approvals from various regulators and inflation. The Reserve Bank of India has laid out strict due diligence [...] Continue Reading »
The Mumbai suburb too is becoming increasingly unaffordable. Recently, a 950-sqft, 2-BHK flat in Vashi’s sector 17, is now selling for a record sum of Rs 1.21 crore. Another apartment in the same locale, that a broker sold for Rs 82 lakh even six months ago, is now on sale at an asking price of [...] Continue Reading »
National Housing Bank (NHB) has taken 2007 realty as a benchmark of the Residex pegged at 100. The figures show how Ahmedabad along with five others cities – Mumbai , Delhi, Chennai, Lucknow and Pune – have bucked the trend of falling prices. Residex (residential index) figures for city areas reveal that the road expansion [...] Continue Reading »
The Juhu Citizens’ Welfare Group (JCWG), an umbrella body of 18 advanced locality management groups , has supervised garbage collection patterns in the area. On Thursday, a group of locals gave a PowerPoint presentation in front of civic solid waste management officials on how to keep Juhu clean. Following the presentation , officials from the [...] Continue Reading »
The Maharashtra State Road Development Corporation (MSRDC) on Tuesday announced plans to appoint a consultant for preparing a project report on the Mumbai-Pune expressway tunnel plan between Khopoli and Lonavla. The decision to construct a 11-km-long tunnel, between Khopoli and Lonavla, on the Mumbai-Pune expressway has sparked resentment across the Konkan region. The construction of [...] Continue Reading »
In a Worldwide Cost of Living Survey, India’s financial capital Mumbai has been ranked third cheapest place to live, while national capital New Delhi is fifth. In this year’s ranking of costliest cities of the world, Mumbai has been placed at 131st position, up a place from 132nd a year ago, while New Delhi has [...] Continue Reading »
Bombay HC questioned the State’s power to cancel the proposal after the issuance of Letter of intent
Bombay high court set aside an order passed by the Brihanmumbai Municipal Corporation (BMC) cancelling a sanctioned proposal for the construction of a multi-storeyed public parking lot at Kalachowkie in central Mumbai. A division bench of Justice D K Deshmukh and Justice R G Ketkar was hearing a petition filed by Byramjee Jeejeebhoy Pvt Ltd [...] Continue Reading »
Builders are tapping domestic PEs and NBFC to raise cash as banks turn wary of financing construction projects. Under a receivable financing deal, which is generally for 12-18 months, money generated through installments paid by home buyers is put in an escrow account by the builder and used only for repayment to the lender and [...] Continue Reading »
Property prices in seven cities across India dropped by 2.63 per cent to 17.6 per cent during the January to March quarter, according to the latest data released by the National Housing Bank (NHB). As demand came back with gradual economic recovery in India, realtors, some of whom were facing severe debt problems, started raising [...] Continue Reading »
Floor Space Index (FSI) is the ratio of buildable area to the total area of the plot. In a bid to keep prices in check, the Mumbai state government to hike the base floor space index (FSI) in the suburbs. At present, an FSI of 1 is permitted on suburban plots. Besides this, developers are [...] Continue Reading »
