Properties in Mumbai
Brihanmumbai Municipal Corporation (BMC) has planned to give health insurance of up to Rs 3 lakh for those citizens who have paid property tax this year. A whopping property tax of Rs 2,156 crore has been collected this year, contributed by about 15 lakh owners of properties in Mumbai. According to BMC these property tax [...] Continue Reading »
As per data with the Brihanmumbai Municipal Corporation (BMC), around 81 % of the properties in Mumbai remain unaffected from the recent hike in property tax. With the new capital value-based property tax system in place, the citizens have been unhappy regarding the same and many plan to contest in High Court. However, 81% of [...] Continue Reading »
Central Mumbai has been witnessing a rise in price trends higher than the national average. Areas like Worli and Prabhadevi are counted as the costliest locations in Central Mumbai now after the recent real estate trend. As per reports, both the areas are showing good demand and supply in the real estate sector. Both commercial [...] Continue Reading »
The Central Government has suggested the state authorities to review the floor space index (FSI) policy again to meet the affordable housing demand in Mumbai. In a city like Mumbai where 50% of the population stays in slums, it becomes very difficult for them to afford houses near workplaces. Due to which, Union housing minister [...] Continue Reading »
BMC has admitted that it did not act upon the illegal activities that were going on in a residential building in Sion. In a recent response to a query under the Right to Information (RTI) Act, it came into light that the civic body has not taken any action against an unlicensed residential building in [...] Continue Reading »
With the new property tax system in place, the Property Owners’ Association (POA) has called for a meeting, in which they asked the BMC to reconsider the new tax system. The new capital value-based property tax system has not gone well with the owners/landlords as it does not offer any cap for buildings that got [...] Continue Reading »
Now, investors are shifting bases from current projects to new positions in real estate sector. This is happening even when a few luxury housing projects were sold off within days of their launch. Over the past three months, stocks of real estate companies have come up to 30-50% thinking that declining interest rates will help [...] Continue Reading »
In today’s time when properties in Mumbai have less demand due to heavy property prices, Lodha Group got an overwhelming response for its upcoming project in the city. The group has received around 1,300 applications from interested buyers for their upcoming project in Mumbai. The number which they have received is more than double the [...] Continue Reading »
Real estate firms have forecasted that in near future, a correction in housing market can be witnessed. This can be due to drop in property sales in past 12 months. In December, rates of properties for sale in Mumbai was bit less while price growth in other Indian cities slowed. According to property research firm, [...] Continue Reading »
A good news for property buyers in Mumbai! Now, is the correct time to invest in properties in Mumbai as there will be a slight depreciation in prices as per the real estate experts. For the first time in 3-4 years, the average price of residential properties in Mumbai and the Mumbai Metropolitan Region (MMR) [...] Continue Reading »
