Mumbai
The Mumbai civic body, Brihanmumbai Municipal Corporation (BMC), plans to restructure its water supply system to ensure equitable supply to all areas in the city. The BMC has decided that each person in the city should get at least 135 litres of water per day. Earlier, in 2009, it had set 90 litres per capita [...] Continue Reading »
Mahindra Lifespaces, part of the Mahindra Group, has purchased a three-acre plot in Andheri owned by Nycomed Pharma Pvt Ltd. Mahindra purchased the property for around Rs 205 crore, or Rs 65 crore an acre. The 12,000-sq m plot currently houses a bungalow, two guest houses, a research and development facility and an electric sub-station. [...] Continue Reading »
Experts expect that the new supply in Mumbai realty market could lessen by 20-30% than the prevailing rates as the market has been ravaged with high prices. Around 200 new projects are coming up in June – September and it is estimated that it will launch in cheaper rates. According to a real estate analyst, [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has decided to simulate online tracking system that is used for the first time for all civic issues. The system helped BMC to ensure the officials and contractors of the road department to meet deadlines and it is expecting to extend this system to other departments as well. The system will [...] Continue Reading »
A new realty project will be launched in Mumbai in the partnership of four property developers, Hubtown, Marathon Realty, Terraform Realty and Rajesh Lifespaces. A consortium has been formed called Rare Townships to develop a township titled ‘Rising City’ off eastern Express Highway in Ghatkopar area of Mumbai . The project will have two, two [...] Continue Reading »
The Confederation of Real Estate Developers Association of India (CREDAI) said that the state government’s policies will end up being its gift for Gujarat’s Gift City as the developers body witnesses Mumbai and Maharashtra turning increasingly ‘investor unfriendly‘. Lalit Kumar Jain, president of CREDAI, has criticised the policies regarding the proposal to hike the lease [...] Continue Reading »
In order to tackle slow response to fire emergencies, the Brihanmumbai Municipal Corporation (BMC) is looking at new project from firms to modernise fire brigade communication network. The fire department is suffering from the outdated system alert about fire and when people dial 101, the fire brigade has no way to check if an alert [...] Continue Reading »
After a slowdown in the first two quarters of 2012, India is witnessing a rise in demand for commercial rental spaces. Major cities such as Mumbai, Delhi-NCR, Bangalore, Chennai, Hyderabad, Pune, and Kolkata saw a total of 7.6 million sq ft office space absorption in the July to September as compared to 5.9 million in [...] Continue Reading »
In order to crackdown sloppy work, a policy has been issued by Brihanmumbai Municipal Corporation (BMC) which states that maximum period of redevelopment of property should be four years and levying penalties on developers who cross deadlines. Already over Rs 90 penalties are issued on sub-engineers of road department for not filling up the pot [...] Continue Reading »
Through real estate fund that focuses commercial property is suppose to raise up to Rs 500 crore in the top seven cities of India by Azure Capital. India reality fund II, will be launched by Azure Capital, that will totally focus on commercial properties across the seven cities of India. The investors will focus on [...] Continue Reading »
