Mumbai
Women from a housing society in Virar destroyed liquor bottles at a bar in their building on Wednesday. For three years, residents of Sai Co-operative Housing Society have been complaining about the bar in their building. Despite opposition from residents, the builder rented out the ground floor flat to the bar owner. The ground floor [...] Continue Reading »
Mumbai Asia’s 4th costliest place for office space in Oct-Dec 2010 Mumbai has become the fourth costliest city in Asia Pacific for renting a office in the last quarter of 2010. the average annual rentals of Mumbai during the quarter has been estimated at USD 705 per sq mt, the same has been found to [...] Continue Reading »
A day after it announced a modest budget, endeavoring to explore fresh sources of revenue, the BMC Mumbai on Saturday issued a circular, raising the penalty on illegal constructions by four times. According to source, unscrupulous builders and tenants carrying out irregularities in their flats and buildings now must get ready to pay a heavy [...] Continue Reading »
Developers are reeling from the after-effects of the Adarsh scam. After-effect of Adarsh Society Scam, BMC and state government departments refusing to clear files seeking approvals for major construction projects. New municipal commissioner Subodh Kumar has also tightened the screws on the manner in which files are being cleared and is believed to be working [...] Continue Reading »
Housing prices could fall by up to 20 per cent in Mumbai and Delhi-NCR sooner than expected if RBI raises key rates in its upcoming monetary policy review, says a report by property consultant Jones Lang LaSalle . It is widely expected that the apex bank would increase the key policy rates by up to [...] Continue Reading »
According to a Supreme Court verdict in 2010, a developer of a housing complex cannot charge members for parking space. The ruling said the developers cannot sell open spaces and stilt areas in their buildings as these are meant for common use and form part of the flats. I-T officials who raided the Lodha Group [...] Continue Reading »
After the Environment Ministry Jairam Ramesh recommended the demolition of the Adarsh Housing Society building in Mumbai for violating coastal regulations, Defence Ministry today said it would take a “balanced view” on the issue before arriving at any decision. He was responding to queries about the future of the building in view of the Environment [...] Continue Reading »
Mumbai, the country’s financial capital, is expected to lead a fall in property prices owing to buyers’ resistance to higher prices, rising interest rates, tightening of credit to developers and excess supply. The cash flow of realtors that is getting affected by this fall in sales volume and a crunch in the supply of credit [...] Continue Reading »
Housing societies feel this is the right time to redevelop their properties and encash on it. More than 15 housing society redevelopment proposals in Mumbai and suburbs have come up in the past three weeks. This is mainly because residents want to take advantage of the current high property prices. Currently, they are in a [...] Continue Reading »
India, particularly Mumbai and New Delhi, are ranked the foremost real estate market destinations as the residential properties have maintain the growth momentum. India has been ranked as the most preferred real estate destination among the Asia Pacific according to ULI-PwC report. The Urban Land Institute (ULI) initiates research that anticipates emerging land use trends [...] Continue Reading »
