Thane
Maharashtra state would bring a policy to re-develop dangerous and illegal constructions in the state said Chief Minister Prithviraj Chavan in a debate in the Legislative Assembly. There were 1,106 dangerous and 57 severely dangerous buildings in Thane and majority of these buildings are illegal structures, said Chavan. As per the Maharashtra Regional Town Planning [...] 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 »
Thane District Consumer Forum has ruled that builders must stand by the conditions laid down by civic authority while granting the occupation certificate (OC), even though if such conditions are not a part of the sale agreement with flat buyers. Recently, a complaint was filed by Sarvottam Co-operative Housing Society against city-based Radhakrishna Developers. According [...] 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 »
The proposal to assess property tax based on capital value of the structures in Thane has been contested in the Bombay high court by citizens organization here. Municipal commissioner RA Rajeev has proposed that all residential, commercial or industrial property would be assessed on the basis of its capital value or market value as listed in [...] 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 »
Commercial rent trends in the first quarter of 2012 have been idle with rates almost constant, except in some places in major cities of India where there has been a growth. Commercial rents in Lajpat Nagar and Greater Kailash in Delhi have been hopeful as they are preferred choices for commercial renting due to connectivity [...] Continue Reading »
Due to the increasing value of dollar, more and more NRI’s are considering to invest in Indian real estate market. Since Mumbaihas been considered the business hub of real estate in India, NRI investors are looking forward to invest in Mumbai. NRI’s consider Mumbai is the best and safe to invest as many investors have [...] Continue Reading »
The traffic jams at Kapurbawdi, Majiwada, Teen Hath Naka and Manpada at Thane, Maharashtra are traced to be most dangerous traffic zones. The best example to explain the worse and deadly traffic situation at these junctions is when an ambulance is held in a prolonged traffic jam. The worse traffic conditions seem to be defeating [...] 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 »
