Mumbai
Now, real estate brokers and agents may be allowed to apply for bank licenses. In a recent proposal, the Reserve Bank of India (RBI) may set aside reservations on real estate firms and brokerages and allow them to obtain license. The proposal will be formalised in the central bank’s final guidelines but there is no certainty yet [...] Continue Reading »
Central Mumbai has been witnessing a rise in price trends higher than the national average. Areas like Worli and Prabhadevi are counted as the costliest locations in Central Mumbai now after the recent real estate trend. As per reports, both the areas are showing good demand and supply in the real estate sector. Both commercial [...] Continue Reading »
The Central Government has suggested the state authorities to review the floor space index (FSI) policy again to meet the affordable housing demand in Mumbai. In a city like Mumbai where 50% of the population stays in slums, it becomes very difficult for them to afford houses near workplaces. Due to which, Union housing minister [...] Continue Reading »
BMC has claimed that no new taxes and charges will be included in the BMC budget to be announced for 2013-14 financial year. Also, the civic body is unlikely to announce any new projects or schemes in the next fiscal year. BMC is all set to recover Rs 29,000 crore to Rs 30,000 crore budget [...] Continue Reading »
BMC has admitted that it did not act upon the illegal activities that were going on in a residential building in Sion. In a recent response to a query under the Right to Information (RTI) Act, it came into light that the civic body has not taken any action against an unlicensed residential building in [...] Continue Reading »
With the new property tax system in place, the Property Owners’ Association (POA) has called for a meeting, in which they asked the BMC to reconsider the new tax system. The new capital value-based property tax system has not gone well with the owners/landlords as it does not offer any cap for buildings that got [...] Continue Reading »
With the new property tax bills arriving, residents from Mumbai suburbs have joined hands against it. With this, the rest of the city also is not behind and has melded into chorus. The residents claim that the new system is ‘draconian’ and has slapped exorbitant arrears which have to be paid within March 15. As [...] Continue Reading »
One of the India’s largest real estate companies maintained privately by Hiranandani brothers is eyeing on new opportunities in the real estate segment for growth. The younger brother, Surendra Hiranandani is now set to launch his first redevelopment project in Mumbai.With this project, it will be an initiation of departure from his company House of [...] Continue Reading »
Now, investors are shifting bases from current projects to new positions in real estate sector. This is happening even when a few luxury housing projects were sold off within days of their launch. Over the past three months, stocks of real estate companies have come up to 30-50% thinking that declining interest rates will help [...] Continue Reading »
A disputed property has recently got investment by Kotak Realty Fund (KRF), a division of Kotak Investment Advisors Ltd. The realty fund has made an investment of around Rs 125 crore on a 36 acres of residential development near Yeor Hills in Thane. The Ravechi property developer, Tulsidas Bhimjyani, got the investment after he paid [...] Continue Reading »
