Real estate in Mumbai
With major infrastructure developments such as the Metro and Monorail coming up in Mumbai, property prices have shot up in areas where infrastructure development initiatives have come up. Proposed transport systems have pushed the real estate values in Wadala-Chembur area where the first phase of Monorail is coming up. The Mumbai Metropolitan Region Development Authority [...] Continue Reading »
According to reports of BNP Paribas Real Estate, rental values of office space in Mumbai has witnessed a decline. Sequential decline in the range of 3 per cent to 11 per cent is seen during the quarter ended June 30. The report shows that rent came down in central business district Nariman Point by 3 [...] Continue Reading »
Godrej Properties is all set to redevelop a residential property of a private society in Ghatkopar, Mumbai. Mumbai based Godrej Properties, the real estate development arm of Godrej group, will be adding another redevelopment project to its portfolio with this one. The project spread over 2.5 acres will offer around 185,000 sq ft of free [...] 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 »
Mumbai has fallen in the mortgage market rankings as record real estate prices keep customers away, say realty and home finance executives. Pune and New Delhi have overtaken India’s financial capital with steady demand, while Mumbai has fallen to third or fourth position for housing finance. Mumbai used to be number one in the real estate market, but not many new projects [...] Continue Reading »
The country’s largest real estate developers, DLF has sold its 17.5-acre plot at Lower Parel in Mumbai to Lodha Developers for Rs 2,750 crore, making a profit of over Rs 2,000 crore over seven years. In June 2005, DLF had bought the land in Mumbai in an auction from National Textile Corporation for Rs 702.2 crore. [...] Continue Reading »
According to ranking prepared by real estate data firm Qubrex, Noida has replaced Mumbai as the second-best realty destination of India this year. Gurgaon-Manesar retained the top slot. The rankings are based on parameters like – supply and demand, likely price appreciation in three years, emerging connectivity, potential growth in economic activity, nationally reputed builders, [...] Continue Reading »
As revealed by sources, in Mumbai‘s real estate market, cash transactions are still prevalent during transactions. The system of demanding an illegal cash payment still exists in many pockets of the city, especially Bandra, Khar and Juhu belts in the western suburbs. In the 1970s, builders used to take 80 per cent in cash and [...] Continue Reading »
At a time when the real estate sector is going through a lean phase and the inventory level of Mumbai is going up propelled by a dip in sales, the traditional upmarket residential enclaves of south Mumbai – are skyrocketing. The city’s plush Nepean Sea Road area sold for a boggling Rs 1.20 lakh a [...] Continue Reading »
According to real estate research firm Liasis Foras, the period between Q4 2010-11 and Q4 2011-12 was characterised by low volumes and high prices. In the period, the demand for real estate in six major markets of India – Mumbai, Delhi, Kolkata, Chennai, Pune and Bangalore – fell by around 40 per cent on an [...] Continue Reading »
