Mumbai
According to a research report by Crisil Research, large builders like DLF, Unitech, Parsvnath, Omaxe, Ansals and Emaar MGF have already diversified into smaller cities of the country. The cities like Bhopal, Bhubaneswar, Coimbatore, Indore, Jaipur, Lucknow, Nagpur, Surat, Vadodara and Visakhapatnam are expected to add 354 million sq ft of residential development in the [...] Continue Reading »
Mahindra Partners, a private equity arm of the Mahindra group, has conceptualized a $293.7 or Rs 13,217 house (not including land cost) that could be explored for global commercial application. A team from Mahindra Partners had submitted an entry and has now been invited to the US for a prototype workshop. With Nano home in [...] Continue Reading »
Market regulator SEBI on June 23 had directed two Sahara group companies — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) — to refund the money raised from investors through optionally fully convertible debentures (OFCDs) with an annual interest of 15 per cent from the date of receipt of money. Sahara [...] Continue Reading »
The Reserve Bank of India (RBI) decision to raise key policy rates by 25 basis points can dent sales of homes in the country. Over the last six months, builders have been witnessing a decline in registrations for homes and the latest round of hike is seen adding to their worries. Over the last 15 [...] Continue Reading »
Mumbai builders take Mhada for a 228 crore ride. Under Mhada rules, builders have to surrender part of the built-up area of redeveloped properties. For the past 20 years, builders have not given up surplus area. Source said that some Mhada officials are believed to be part of this nexus with the builders. On Thursday, [...] Continue Reading »
The Thane civic body has launched an online portal to clear building proposals. Director or other equivalent officer will scrutinise the proposal online and approve it. As Thane is small city and no major developments like Mumbai, online approval will work effectively for Thane. It will also help to streamline the realty sector and bring [...] Continue Reading »
Property dealers and research firms say investors are not keen to buy assets now, while those who do, are looking for suitable exits. “Unofficially, the prices have already corrected. Some investors and developers have already exited at lower prices,” said an industry source. Research heads from a couple of real estate research firms said the [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) as many as half-a-dozen of errant builders have been served stop-work notices over the past week as a part of BMC’s anti-malaria drive. The notices were issued by the building proposal department of the BMC. The department officials said the developers could have to cough up a penalty of up [...] Continue Reading »
Mumbai Tenants’ associations say that if the government wants to increase the supply, it should do so by levying a ‘vacancy tax‘ on vacant and unsold flats in Greater Mumbai. The associations’ call follows a recent proposal mooted by the Centre-draft Model Residential Tenancy Act 2011-to do away with antiquated rent control legislation and bring [...] Continue Reading »
The Mumbai Tenant associations decried proposed Model Residential Tenancy Act 2011 and claim that the move does not allow for Mumbai’s unique rental system and might leave lakhs of Mumbaikars homeless. Tenant associations claim that the new law would spell disaster for Mumbai, where thousands of old properties are still rented out under the long-standing [...] Continue Reading »
