Mumbai
Brihanmumbai Municipal Corporation(BMC) has challenged a Bombay High Court (HC) verdict asking it to pay an amount of Rs 50 crore as collective bonus to 40,000 employees. The BMC has been arguing that it has no responsibility to pay bonus as employees had struck work last year. The BMC employees had gone to strike last [...] Continue Reading »
Investors are gradually taking more interest in property developments in Navi Mumbai and Thane. Property consultant CBRE states that the investor’s interest is high in these areas as proposed projects of international airport and other infrastructural developments are coming up. The ever escalating prices in Mumbai and its suburbs is another reason behind the growing [...] Continue Reading »
Faced with criticism that the Maharashtra government has been stifling the growth of real estate in the state, chief minister Prithviraj Chavan assured the Maharashtra Chamber of Housing Industry (MCHI) that its concerns would be addressed within 45 days. MCHI had raised several issues during a presentation. It claimed that these issues are hampering real [...] Continue Reading »
The Brihanmumbai Municipal Corporation (BMC) will float tenders by this month-end for construction of over 200 new road in 2012-13. The civil body has made a budgetary allocation of Rs 950 crore for roads, including pending work from last fiscal. According to officials, construction work of 129 of 171 major roads have been completed in [...] Continue Reading »
The revenue-share model had been introduced by malls during 2008 downturn to lure in retailers. However, the model seems to become a noose as retailers have been suffered from fewer footfalls and tight consumer spending. Phoenix Marketcity in Kurla, the biggest mall in Mumbai, reportedly has still not been able to earn a single rupee [...] Continue Reading »
Many localities within Navi Mumbai have become major residential locations over the past few years. Localities such as Vashi, Belapr, Nerul, Khargar etc have all been besought for residential purposes by buyers. Ulwe is the one such locality to witness a surge in residential demand. Infrastructural developments, enhanced connectivity and affordable residential rates are the [...] Continue Reading »
Real estate firm Vatika Group plans to invest around Rs 250 crore in the next five years to expand its business centre venture. Vatika Business Centre, a subsidiary of Vatika Group, currently has eight business centres in Gurgaon, Bangalore, Hyderabad, Pune and Mumbai. It covers more than two lakh square feet of office space with [...] Continue Reading »
While question marks have been put as to number of new project launches, Gee Cee Ventures has announced that it plans to launch a real estate project in Navi Mumbai. The project would be a residential cum commercial real estate project. It will be developed on a land bought for Rs. 101 crores at Navi [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) authorities are planning to construct a new underground passage for commuters on the eastern side of the Chhatrapati Shivaji Terminus. The decision comes nearly a decade after the first subway was constructed. Railway and BMC authorities are jointly planning another underground passage to minimise the chaos created by commuters outside CST [...] Continue Reading »
As per a recent civic study, Mumbai has grown in size – by 20 sq km of land. A survey to map the city’s existing land use (ELU) shows that Mumbai has grown from 438 sq km (as per the 1991 development plan) to 457.17 sq km. However, the new finding is contrary to marked [...] Continue Reading »
