Navi Mumbai
The commercial real estate scenario at Navi Mumbai is robust. Companies have gravitated to Navi Mumbai owing to reasonably priced real estate and well laid out city. Most software companies in Maharashtra have their offices at Navi Mumbai. IT/ ITeS and IT SEZ companies such as Wipro, Capgemini, WNS, CTS, iGate (Patni), etc have their [...] Continue Reading »
With a little over one lakh residential flats lying unsold in Mumbai, an inventory, according to experts, which will take more than three years to clear as not much of it is available for immediate possession, the Mumbai real estate horizon looks grim. According to data from property research firm Knight Frank, sale of Mumbai [...] Continue Reading »
In a case involving residents caught between the civic body and the builder, the residents of Green Heritage society at Kharghar in Navi Mumbai were in shock as portion of their society has been ordered to be demolished by the civic authorities. The authorities have issued notice to vacate the premises to facilitate the demolition [...] Continue Reading »
The Bombay High Court has directed the Navi Mumbai Municipal Corporation (NMMC) to take appropriate steps to implement recommendations of National Environmental Engineering Research Institute (NEERI) regarding the removal of health hazards caused by garbage dumping at a ground in Turbhe in Navi Mumbai. NEERI was appointed by the court to visit the site and [...] Continue Reading »
The slowdown in sales of properties in Mumbai has largely hit the luxury segment. According to the real estate consulting firm Knight Frank an estimated 80,000 unsold houses under construction are in the Mumbai Metropolitan Region (MMR). The study reveals that South and Central Mumbai are the worst hit. While there are takers for units [...] Continue Reading »
Knight Frank’s latest report focuses on uncovering the relationship between the developer and the suppliers of factor inputs such as Land and Construction costs. Land is the most significant input for property development. Analysis of land allotment policy of some of the major land aggregators provides interesting insights: City and Industrial Development Corporation (CIDCO) follows [...] Continue Reading »
Knight Frank Research, a property consultancy firm, analyzed residential market comprising projects with a sales potential of above Rs 30 crore in Mumbai Metropolitan Region. Their analysis shows that Mumbai real estate market for high-end homes has stagnated during financial year 2012. Absorption numbers for high-end homes in 2011-12 are estimated to have dropped by [...] Continue Reading »
According to a recent report by property consultants PropEquity, the property sales across the Mumbai Metropolitan Region (MMR) have witnessed a fall of more than 50 per cent. In the first quarter of 2012, absorption of residential property has fallen to 11,473 units compared to 27,676 units in Q1 of 2011. The total residential supply [...] Continue Reading »
The number of unsold homes in Mumbai and Delhi is increasing and these homes do require minimum of three to four years to be sold. A recent study by Liases Foras, a real estate rating and research consultant firm says that it takes at least three years to clear 1.13 lakh units or 120 million [...] Continue Reading »
Well! Taking about the recent tremors of earthquake felt in Indian cities, Pune is nowhere spared. Several localities in Pune said to have experienced the worse hit of earthquake. Even though earthquake lasted for few seconds, tremors were felt badly at Koyna dam at Satara district in Pune. Meanwhile, Indian cities like Navi Mumbai, Mumbai, [...] Continue Reading »
