Mumbai
The real estate firms are revisiting strategies for development in India’s smaller cities. Various firms have been pursuing varied strategies on the backdrop of a realty slowdown. Some large developers are sticking to bigger cities while discontinuing project plans in smaller towns. Some firms are switching from premium to affordable homes to generate sales and [...] Continue Reading »
Mumbai’s economy has been hurt by an unregulated, hyper inflated and speculative real estate, which in turn would have its effect on the country’s economy. The astronomical property prices are driving new businesses and expansion of existing ones away to other cities. The cost of acquisition of a facility to run business is very high [...] Continue Reading »
A public interest litigation (PIL) filed last month by a social activist has grabbed attention in Mumbai. The Mumbai resident moved the Bombay high court over 4,400 leases executed by the BMC, through which nearly 6.48 crore square feet of the city was leased to private entities. The PIL states that most of the land [...] Continue Reading »
Brihanmumbai Municipal Corporation (BMC) has been strictly monitoring the reinstatement of roads ahead of Ganpati festival. BMC has been regularly cracking the whip on contractors in charge of pothole-filling work and has collected fines total of Rs 1.22 crore so far. Contractors under the civic body’s road department, its ward level and other related departments [...] Continue Reading »
In spite of developers struggling with their debts in Mumbai, rentals have been soaring. Increase in rents across the city over the past few years has contributed to a record rise. Rentals in Mumbai are now at par with the highest rental rates in the world. In Andheri (East), the rent for a 3BHK apartment [...] Continue Reading »
The residential real estate index prepared by the National Housing Bank (NHB), the housing prices in 16 cities including Delhi, Mumbai, Chennai, Bangalore, Pune, and Kolkata improved in the quarter ending June 2012, compared to the previous quarter ending March 2012. The prices of residential properties in 16 cities have shown an increasing trend in [...] Continue Reading »
In an arbitration petition filed by Tata Capital against Deccan Chronicle Holdings Ltd (DCHL) for recovery of a Rs 101 crore loan, the Bombay High Court has restrained DCHL from selling or disposing of its building in Lower Parel area of Central Mumbai. The High Court also ordered attachment of six accounts of DCHL in [...] Continue Reading »
Despite a demand contraction of about 15 per cent in the commercial real estate sector, there is little chance that rents of commercial sector will go down. Property consultant Jones Lang La Salle states that Indian real estate prices are unlikely to be corrected. The Indian residential property market has witnessed a definite slowdown in [...] Continue Reading »
Real estate companies in Maharashtra are facing a stern directive from Supreme Court to clear value added tax dues by the end of October. As a result, most of them are almost turning into collection agents, as they have to rush to comply with the Supreme Court directive. Any body who bought a home in [...] Continue Reading »
Housing demand in Khargar, Navi Mumbai, is largely being driven by the 1BHK and smaller sized 2BHK segment. More and more customers are demanding smaller units in the range of approximately Rs 30-35 lakh. City based developers have established a strong foothold in Khargar, by offering affordable flats. These developers are catering to the high [...] Continue Reading »
