Mumbai
Real estate consultancy firm Cushman & Wakefield have reported that the total new demand for residential dwellings during 2012–16 will be 11.8 million units across India. Of the total demand, top 8 cities will account for 18 per cent or 2.1 million units across categories. NCR is projected to witness the highest demand of 381,000 [...] Continue Reading »
25% of the one lakh autorickshaws in Mumbai are now fitted with electronic meters. Transport authorities made it mandatory for all autorickshaws that applied for registration or for renewal of the annual driving permit after March to have an electronic meter. By the end of August, e-meters had been installed in 27,435 autorickshaws. April 2013 [...] Continue Reading »
Report by global property consultant Cushman and Wakefield states that there will be an increase in the demand for 12 million housing units across the country in the next five years. It is said that the top eight cities will form about 20 per cent of the additional demand. However, the overall demand generated for [...] Continue Reading »
Oshiwara residents organisation has approached the Bombay high court demanding the allotment of two plots, one of which is the only open space in the area. Both the plots are reserved as one for a playground and a the other, a municipal school. The division bench of chief justice Mohit Shah and Justice Niteen Jamdar [...] Continue Reading »
A controversy has been stirred up due to the inclusion of old residential structures of Mumbai in the heritage list. The BDD chawls with cracked walls, leaky pipelines and dismal interiors have residents living in it since the British Era. Residents living in these chawls have been hoping for a re-development, however, the inclusion of [...] Continue Reading »
Before Ganeshotsav, Brihanmumbai Municipal Corporation (BMC) was under pressure from mandals and politicians to fill the potholes on roads. After the festival is over, the mandals are facing the heat of the municipal body. Ganesh mandals are being criticized for not filling up the pits that had been dug to erect pandals during Ganeshotsav. BMC [...] Continue Reading »
From October 4, the state government will provide a new facility which will allow Mumbai residents to register their property documents virtually from 7 am to 9pm. Currently, the property registration takes place between 10am and 5pm. The two new offices set up at Adarsh Nagar in Worli will be inaugurated by Revenue minister, Balasaheb [...] Continue Reading »
The Maharashtra Housing Department has offered a major relief to flat buyers and society residents. The state government has said that there is no need for a no-objection certificate (NOC) from the developer for sale or transfer of flat (resale) in a fully constructed building. The clarification has come after allegations of developers illegally collecting [...] Continue Reading »
Mumbai-based real estate major Godrej Properties Ltd (GPL) will raise Rs 200 crore by issuing commercial paper. It will allow the firm to raise money from a broad set of investors at attractive rates, largely for working capital requirements. GPL sources state that commercial paper provides for better rates with a wider set of investors [...] Continue Reading »
HDFC Portfolio Management Services (PMS), a division of HDFC Asset Management, has sold its 50 per cent stake in property developer Runwal Group‘s project in Mulund suburb of Mumbai for 250 crore. HDFC PMS‘ exit from this project is one of the largest realty fund exits in terms of returns. With 250-crore exit, HDFC PMS [...] Continue Reading »
