Latest Realty News

Tapering growth lowers luxury home sales
Jul 11, 2013
MUMBAI: The richer middle class too is feeling the impact of the slowdown and isn’t buying homes like before, badly impacting sales of luxury homes.
Only 903 housing societies in Mumbai apply for land transfer
Jul 11, 2013
MUMBAI: The deemed conveyance campaign, from last December to June 30, has received a very poor response.
Real estate booms in the Kalyan-Dombivli stretch
Jul 08, 2013
MUMBAI: The Kalyan-Dombivli stretch in the western part of Maharashtra, is the new stretch of real estate growth in the state. Kalyan and Dombivli come under the municipal corporation of Kalyan-Dombivli Municipal Corporation (KDMC). It falls in what is now called the greater Mumbai built-up area.
DLF-Aman Resorts deal delayed due to funding issue
Jul 04, 2013
MUMBAI: DLF's cup of woes continues to overflow. The real estate giant is desperate to cut debt from its balance sheet, but the state of the market is so weak that previous agreements are coming apart.
BMC will refund Rs 895 crore to citizens for extra property tax paid
Jul 03, 2013
MUMBAI: The Brihanmumbai Municipal Corporation (BMC) has to refund Rs 895 crore to citizens who have paid extra property tax based on provisional bills sent to them since 2010, before the final ones based on the capital value system were sent early this year.
No tax cuts, FSI sops for eco-friendly buildings in Maharashtra
Jul 03, 2013
MUMBAI: After dangling a carrot in front of developers and citizens to promote environment-friendly buildings, the state government seems to have yanked it away for now.
How to buy a flat and not lose sleep in Mumbai
Jul 03, 2013
MUMBAI: the city where the dream of owning a cherished home can turn into a dreadful experience for the flat buyer. Mumbaikars have spent sleepless nights after authorities have ordered the demolition of their buildings for violations the residents were unaware of. The beleaguered residents of Worli’s Campa Cola compound, and those who later found that their buildings stood on forest land, are only two such examples.
Ghatkopar-Vikhrolibhandup-Mulund ideal for mid-segment buyers
Jul 02, 2013
MUMBAI: It is a known fact that the Mumbai property market is the most expensive in the country. However,despite the exorbitant prices and premium localities, the city has, on a consistent basis, managed to nurture areas that can still be labelled as relatively affordable.
Bengaluru most affordable, Mumbai most unaffordable
Jul 02, 2013
MUMBAI: Mumbai remains the most unaffordable market with 29% of the city’s total under construction units surpassing the Rs 10 million mark as compared to 11% and 5% for the NCR and Bengaluru markets respectively, said a Knight Frank research report released on July 1. Bengaluru remains the most affordable residential market with more than 77% of its total under construction units falling below the ticket size of Rs 5 million. This is followed by Chennai at 75%.
BMC extends property tax payment date
Jul 02, 2013
MUMBAI: The due date for the payment of property tax bills is extended upto September 30 in respect of properties having final property tax bills higher than provisional property tax bills issued for the period 2010-11, 2011-12 and 2012-13 due to increase in taxes.
No property papers? What sellers & buyers should do
Jul 01, 2013
MUMBAI: A couple of years ago, when Vaibhav Chapke, a 38-year old IT professional, was looking to buy a house, he zeroed in on one at Kandivli, Mumbai. "The property agent had shown me a few houses, but I liked this one because it was in an ideal location, was well-maintained and, more importantly, fit my budget." However, Chapke became suspicious and reluctant when the owner said he preferred the entire sale proceeds in cash, at one go. He decided to research and roped in a lawyer to help him o
Residential options galore in Ghatkopar, Mulund, Bhandup, Vikhroli
Jul 01, 2013
MUMBAI: Ghatkopar, Vikhroli, Bhandup and Mulund are situated along the central line in Mumbai. These localities have emerged as attractive destinations for buyers looking for areas that are close to the nerve centres of the metropolis.
Two-Day Road Show of DAMAC Properties in Delhi and Mumbai
Jun 27, 2013
MUMBAI: DAMAC Properties, the largest private developer of luxury real estate in the Middle East, is beginning a two-day road show in Delhi and Mumbai to showcase the latest luxury living in Dubai.
Reliance building on real estate interests in Kenya
Jun 27, 2013
MUMBAI: Reliance Industries is expanding its presence in the real estate sector in Africa.In its second major foray, the Mukesh Ambani-owned Reliance Industries has acquired 10 prime plots of land in Kenya’s capital, Nairobi, for around Rs 202 crore ($33.9 million).
‘Housing Regulator Bill ignores ground realities’
Jun 27, 2013
MUMBAI: Even though the Real Estate (Regulation and Development) Bill is expected to bring in transparency, it also brings with it challenges like timely project clearance which need to be addressed first, consultancy firm Jone Lang LaSalle has said.
Mumbai : New system may allow ready reckoner rates to be revised
Jun 27, 2013
MUMBAI: After receiving complaints on discrepancies in the ready reckoner rates in Mumbai and other parts of the state, the government on Wednesday said it would review the system to determine real estate prices, and also introduce an option of revising them after they are published.
CBDs-SBDs in Mumbai suburbs paving way for ‘walk-to-work’ culture
Jun 27, 2013
MUMBAI: Mumbai has a deeply ingrained work culture, of a magnitude that other mega-cities like Manhattan and Tokyo have. Its citizens tend to attribute ultimate location values to homes that are within reasonable commuting distance from their work places. In this island city, a home close to the CBD or SBD is a premium offering in the residential real Estate market. In fact, the prices get more out of reach as one closes in on the central areas of the city. It doesn’t necessarily have anything t
‘Housing Regulator Bill ignores ground realities’
Jun 26, 2013
MUMBAI: Even though the Real Estate (Regulation and Development) Bill is expected to bring in transparency, it also brings with it challenges like timely project clearance which need to be addressed first, consultancy firm Jone Lang LaSalle has said.
Exit low building clusters, enter skyscrapers at Girgaum and Parel
Jun 26, 2013
MUMBAI: The skyline is set for a drastic change with the high-power committee for cluster redevelopment giving the go-ahead to two projects at Girgaum and Parel each. All low-rises here would be mowed down to make way for skyscrapers.
Unrestrained speculative buying can kill the market
Jun 25, 2013
MUMBAI: With the Mumbai real estate re-sale market touching hitherto unseen heights, questions about how sustainable the real estate bubble is are being raised more so now than ever.
Premium for open space deficit hits redevelopment projects in Mumbai
Jun 25, 2013
MUMBAI: Redevelopment of housing societies across the city could slow down after the civic administration recently decided to charge a 100% premium to developers who want norms for compulsory open spaces around their buildings relaxed. These concessions are generally sought in case of smaller plots where developers are hard-pressed to leave sufficient open spaces around the built-up area.
Thane, Navi Mumbai among realty hotspots: Report
Jun 25, 2013
MUMBAI: Thane and Navi Mumbai have been listed as “emerging investment hotspots” among eight locations across seven top Indian cities, according to a report released on June 21 by the Confederation of Indian Industry and Jones Lang LaSalle India.
Ulwe outperforms in the Uran-Ulwe stretch
Jun 24, 2013
MUMBAI: The long stretch from Uran to Ulwe in Navi Mumbai, covers many areas which have witnessed spurts of real estate development but the one area which has emerged as a clear favourite of developers and investors, is Ulwe.
South Mumbai property rates crash 30% as buyers miss the ‘view point’
Jun 22, 2013
MUMBAI: Marquee apartment buildings in south Mumbai with views to die for (of the sea, the Queen's Necklace, the Race Course) fetched its owners unheard-of prices till a few years ago. But not any more as new apartments which tend to block the views are depressing property values by up to 30%. The art deco Kamal Mahal, which was once the home of the Ambani and Godrej families, on Carmichael Road now has the high rise Imperial Towers by Shapoorji Pallonji on its east side blocking the view reside
Borivali West not viewed as a suburb anymore
Jun 20, 2013
MUMBAI: Borivali West, classified as one of the suburbs of Mumbai, grew by 22 per cent in the Jan-Mar 2013 quarter. The average price of the area today commands Rs 15,200 per sq ft. Properties in places like RM Bhattad Road, one of the best roads in Borivali West, fetch around Rs 18,500 per sq ft.

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