Mumbai
Sahara Group negotiated the Rs 70 crore a year Rent deal for commercial property at Bandra-Kurla Complex. The deal, touted as the highest ever for a commercial property in terms of annual rent. According to real estate sources, the UP-based Sahara Group negotiated the deal for a lease amount of Rs 225 a sq ft [...] Continue Reading »
The revenue department has proposed an amendment to the Indian Stamp Act, 1899 to capture the huge change in the Indian economy over the past century. The draft law will be taken up by the cabinet soon. The new stamp duty law worked out by the government says the benefit will lapse one year after [...] Continue Reading »
In January, the I-T department had raided about 20 premises of Lodha Group in Mumbai and Hyderabad on alleged misreporting of income. While examining the documents found at these premises, I-T officials came across details of bank lockers in the name of some of the company’s employees. When these lockers, in all 26, were raided, [...] Continue Reading »
The western naval command wants no new buildings at least 500m around defence installations in Mumbai’s Colaba. It wrote to the ministry of defence, asking it to invoke the Works of Defence Act (WOD), 1903, to restrict construction of buildings for a particular distance, and thereafter, there must be height restrictions. If the recommendation is [...] Continue Reading »
Even big corporate entities finding it increasingly difficult to afford space in Mumbai. Cheaper property price in Mumbai suburbs driving MNCs and other corporate groups to the suburbs. The recent report by a real estate research firm shows that even big corporate entities are finding it increasingly difficult to rent or buy space in the [...] Continue Reading »
Tanker Free Mumbai awareness about the availability and distribution of drinking water and to keep the tankers off the city streets. The actress Sonam Kapoor is set to join the campaign. The campaign “Tanker Free Mumbai”, intends to spread awareness about the amount of water which is adequately available for the city’s needs as per [...] Continue Reading »
Mumbai realty experts feels Mumbai property prices likely to drop. Though not all realty experts may agree on that, the general sense is that prices will correct by at least 15 per cent in the next six months. With 93,000 under-construction properties and ready-for-possession homes still unsold, the ‘weighted average’ cost of a flat in [...] Continue Reading »
New Delhi-based research firm PE Analytics has drawn up plans to launch a real estate price index. These indices will be based on the actual transaction and registration values prevailing in various micro-markets for the residential and commercial asset classes. The indices will be the barometer for measurement of real estate sector performance and will [...] Continue Reading »
The Mumbai based real estate developer, Godrej Properties Ltd, signs a development agreement and plans its second residential project in Chembur Mumbai strengthening their presence in Mumbai Real Estate. Godrej Properties Ltd announced that it has finalized a development agreement with Capsulation Services Private Ltd. The company will develop a residential project in Chembur Mumbai [...] Continue Reading »
Piramal Realty Limited to launch five residential projects in Mumbai at an estimated investment of about Rs 1500 crore. The company will develop about 30 million sq. ft through land acquisitions funded from its own sources, without any borrowing, managing director Khushru Jijina said. The developer is evaluating 20 projects across Mumbai, Pune and Nashik. [...] Continue Reading »
