Mumbai
In Eastern Mumbai District (EMD) properties rates are expected to double by 2017. This is predicted by Brick Eagle, a financial services platform for affordable housing development in India. Brick Eagle says, “Property investment here remains a good, safe, low-risk investment with average rates of Rs 3000 per square foot and an upward trend incomparable [...] Continue Reading »
In the BMC’s (Bombay Municipal Corporation) standing committee, meeting proposals of worth Rs 3000 crore, or 10 percent of its annual budget were passed by the authority in the last 4 days. This is close to 40 percent of the 110 tenders approved on the agenda. According to BMC, cost of 75 percent proposals are [...] Continue Reading »
The 3,000 sq ft apartment in Maker Towers B was put up for auction following insolvency proceedings against a city businessman who owned the flat that sold for Rs 1.01 lakh per sq ft. The prominent businessman outbid others at a public auction in the Bombay high court on Tuesday with his offer of Rs [...] Continue Reading »
Last week, in the presence of chief minister Prithviraj Chauhan and minister of state for industries Sachin Ahir, the state industries department had signed 32 Memoranda of Understanding (MoUs) for Greenfield projects with various firms involving total investment of Rs 23,850 crore, but ministers are raising doubts over whether or not the projects will take [...] Continue Reading »
The toll on Mumbai-Pune expressway and the national highway (NH4) between Mumbai and Pune will be levied even beyond 2019. While toll payment was expected to wind up five years from now but the Maharashtra State Road Development Corporation (MSRDC) has initiated the process to select a private entrepreneur to carry out operation and maintenance [...] Continue Reading »
Maharashtra, Congress-NCP government has already gone into the election mode. On Friday the traditional vote bank, the government will bring in bill, in a serious bid to despair slum dwellers with a proposal to regularize nearly 400,000 illegal slums in Mumbai and rest of Maharashtra. The government proposes to extend the earlier cut off date [...] Continue Reading »
Just days before the Election Commission’s code of conduct come into effect, the state government has gone all out with the programme to attract votes. It plans to implement infrastructure projects that are bound to improve the transportation network in Mumbai. The various projects being floated include: Mumbai Metropolitan Region Development Authority’s (MMRDA) tenders for an elevated [...] Continue Reading »
As per “Real Estate 2020: Building the future”, a new report from PwC Mumbai, the rapid urbanization and demographic changes, especially within emerging markets, will lead to substantial growth in the real estate investment industry over the next six years. It also said that with the growth of industry’s opportunities, the assets invested into the sector will also [...] Continue Reading »
The state government has asked for a legal opinion whether a review petition against the recent Supreme Court order of removing the “private forest” tag attached to huge swathes of land across the state, should be filed. The ruling has brought relief to at least five lakh residents and builders linked to hundreds of acres [...] Continue Reading »
Indian Railways has come up with a new plan to generate revenues. Next financial year, the agency employing the largest number of people in Asia, plans to generate about Rs 5,000 crore by monetizing its land reserves. This Rail Land Development Authority (RLDA) led initiative involves five projects across the country. So far, in this financial year, RLDA [...] Continue Reading »
