Real estate in Mumbai
The members of Maharashtra Chamber of Housing Industry (MCHI) and Confederation of Real Estate Developers’ Association of India (Credai), have decided to go on a token strike and on May 3. This decision is taken to protest the lack of continuity in policies and inordinate delays in getting clearances for various projects. According to the [...] Continue Reading »
Omkar Realtors has taken the slum redevelopment projects as their major business model. In 2003, the Omkar Realtors entered the redevelopment projects for the Mumbai slums. As of date the builder has already redeveloped 2.5 million sq ft of slums and targeting to reconstruct more than 20 million sq ft of slums by 2016. Redevelopment [...] Continue Reading »
The real estate market in Mumbai has been affected badly during the slowdown. But in the first three months the sale of apartments has gained momentum in Mumbai real estate market. The registration department has recorded a 37% increase in the sale of residential apartments in the month of March. The rental properties also see [...] Continue Reading »
The President has given her assent to the amendment of the Municipal Councils and Maharashtra Regional and Town Planning Act. According to the amendment, any official allowing unauthorized constructions have to pay a fine of Rs 25,000 or will be punished by imprisonment for a month. The amendment will also allow to appoint an officer [...] Continue Reading »
The Maharashtra legislative assembly has introduced the new proposal for the real estate regulatory bill. The builders association in Maharashtra think that the bill will not help any of the builders or the buyers of properties in Mumbai. According to several assembly members, the bill needs more discussion before passing it for an act. The [...] Continue Reading »
The real estate-focused private equity (PE) firm ASK Property Investment Advisors Pvt. Ltd has planned to invest Rs 100 crore in the redevelopment project in Mumbai By the Godrej Properties. The ASK group has taken 49% stake of the project. the redevelopment projects are considered as a difficult way of construction. The other PE transaction [...] Continue Reading »
A recent study has revealed the investment scenario of Mumbai. It is being recorded that since 2005 only Rs 15305 crore has been invested for basic civic projects. The report also states that Mumbai require additional investment of Rs 27500 crore to finish all the civic projects. All the major investments made on land and [...] Continue Reading »
As the proportion of sale of real estate properties in Mumbai reduce drastically, the builders are facing a huge crunch for cash inflow. To overcome the situation and to generate momentum in sales, the builders are coming up with different deal options for their unsold properties. Some builders in Mumbai region introduced a new scheme [...] Continue Reading »
The real estate industry is already under tremendous pressure due to high interest rate, increasing input cost and overall low sale ratio. The new concern for the builders in metro cities are the acute shortage of labour. The real estate in Mumbai, Hyderabad, Chennai, Bangalore are hit hard by the shortage of labour. Analysts says [...] Continue Reading »
The price of apartments in Mumbai are in the increasing side while the builders are not ready to reduce the price. Though the number of unsold flats are high in Mumbai, builders and developers refuse to lower the cost of apartments in Mumbai. The sales ratio did not improved as the buyers are not confident [...] Continue Reading »
