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Nariman point

D-Mart Owner Damani buys 5 floors at Nariman Point

D-Mart Owner Damani buys 5 floors at Nariman Point
Owner of retail chain D-Mart, Mr. Radhakishan Damani has bought an area of 37000 sq. ft. that covers 5 floors of a building for Rs.134.25 crore at the rate of Rs.36000 per sq. ft., the current market rate for office spaces in Nariman Point. Nariman Point is one of India’s premiere business buildings being ranked [...] Continue Reading »

Mumbai: Blackstone-Panchshil JV buys majority stake in Express Towers

Mumbai: Blackstone-Panchshil JV buys majority stake in Express Towers
The joint-venture company of US-based private equity (PE) company Blackstone and Pune-based property developer Panchshil Realty has recently acquired a major stake in Express Towers – located in Nariman Point in Mumbai – for approximately Rs 870 crore. The deal was finalized recently, after months of negotiations. Express Towers is an iconic building which is owned by The Indian [...] Continue Reading »

Ceejay House in Mumbai affordable now

Ceejay House in Mumbai affordable now
Ceejay House in Mumbai, which once demanded the highest rents, is far more affordable today. Rents per month have plunged to between R300 and R350 per sq ft and while to the rest of the market these may be at a premium, they’re way lower than the average seen six years ago of R400 to [...] Continue Reading »

In Jan-March 2014, office space demand decreases

In Jan-March 2014, office space demand decreases
As per a report, the demand of office space has reduced in the first quarter of 2014 with nearly6.3 million square feet of office space getting absorbed across the major cities of the country as against 6.6 million square feet in January-March 2014 period; showing a decrease of 5 percent. Report also concluded that the [...] Continue Reading »

Mumbai May Witness the Most Expensive Real Estate Deal By Mid June

Mumbai May Witness the Most Expensive Real Estate Deal By Mid June
The financial capital of India is still witnessing property transactions under astronomical price tag despite the fact that the country is struggling with high property prices. Lately, there have been reports of the iconic Bhabha bungalow on sale, which can prove to be the costliest affair in the market with the buyers. The property, located [...] Continue Reading »

Bhabha Bungalow is costliest property deal in Mumbai

Bhabha Bungalow is costliest property deal in Mumbai
The National Centre for Performing Arts (NCPA) which is the organization started by JRD Tata and Jamshed Bhabha has put the prestigious Bhabha bungalow in south Mumbai on the block. A property consultant says that at a fixed cost of Rs 257 crore, the property with area of 17,143 sq ft and a minimum floor space index [...] Continue Reading »

Ready reckoner painful for real estate buyers

Ready reckoner painful for real estate buyers
Ready reckoner (RR) rates, which are used to calculate market value of properties for payment of stamp duty and registration charges, must be reviewed by the state government to most recent. Undoubtedly, stamp duty collection is one of the biggest money spinners for the Maharashtra government. But for the people who want to buy or sell flats [...] Continue Reading »

Parking in South Mumbai to get costlier

Parking in South Mumbai to get costlier
Brihanmumbai Municipal Corporation (BMC) which had kept buy and park options in some areas in South Mumbai is thinking of introducing variable parking rates in the city. The civic body is planning on a new policy to revise parking rates and that will be area specific. As of now, the rates will be higher in [...] Continue Reading »

Flat sold for Rs 28 crores in Mumbai

Flat sold for Rs 28 crores in Mumbai
Citibank, the leading foreign bank had put a flat for sale in 2008 in Malabar Hill‘s IL Palazzo building and Vinod Khanna, bollywood actor was the highest bidder with a record bid of Rs 1.20 lakh a sq ft for the 2,550 sq ft flat. But the actor did not go through the flat at that time. [...] Continue Reading »

Residents unhappy about proposed elevated rail corridor project

Residents unhappy about proposed elevated rail corridor project
Mumbai- The project of elevated rail corridor from Virar to Oval Maidan, has been opposed by the residents of South Mumbai, since they are worried if it would bring down the sanctity of Oval Maidan and would risk the surrounding projects. Requesting the authorities to conduct an Environmental Impact Assessment (EIA) of the area before [...] Continue Reading »



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