Latest Realty News

Illegal buildings – A sad reality in Mumbai
Nov 21, 2013
MUMBAI: The problem of illegal buildings in Mumbai – and their impact on the existence of Mumbai’s citizens and organizations, as well as its real estate market – is not a recent phenomenon. In fact, it is as old as the BMC itself. Whether they were the result of corruption and collusion or lack of vigilance of, the issue has always persisted in what is India’s financial capital, which is also the country’s most space-challenged city.
Mumbai residential property market needs a balance
Nov 21, 2013
MUMBAI: Mumbai has a high residential inventory of 67,000 units, equal to sales of 34 months. While the underlying demand is strong, it is not being converted into transactions due to the high property prices. From a developer’s point of view, low absorption is a source of worry; however, due to high costs of land acquisition, raw material, labour, finance and new costs such as fungible FSI, lowering prices beyond a point seems difficult. Is there a way to end this stalemate?
Campa ruling will help BMC with other such court cases
Nov 21, 2013
MUMBAI: Civic officials and activists feel the Supreme Court judgment in the Campa Cola society case will affect several cases related to illegal constructions that are already in the courts.
Campa Cola razing to go ahead despite rains
Nov 21, 2013
MUMBAI: The civic body has resolved to commence the demolition of the illegal flats in Campa Cola compound after May 31 irrespective of the monsoon. Still, the society residents are clutching at straws, hoping to exhaust all legal options before that day arrives.
Diamond merchant Dilipkumar Lakhi buys Cadbury House for Rs 350 crore
Nov 20, 2013
MUMBAI: A Mumbai-based diamond merchant has bought Cadbury House, a popular South Mumbai landmark for around Rs 350 crore, said three persons familiar with the development.
FDI funding in real estate market is need of the hour
Nov 20, 2013
MUMBAI: Real estate is one of the fastest growing sectors in India and plays a momentous role in its overall progress and development. Having significant linkages with other sectors and associated industries, real estate has the capacity to generate income with a multiplier effect.
Fresh policy set to boost cluster redevelopment in Mumbai
Nov 20, 2013
MUMBAI: Cluster redevelopment is set to get a boost with a new policy offering more benefits to both developers and residents and making projects more attractive than standalone redevelopment.
Blackstone to buy Mumbai's iconic Express Towers with Panchshil Realty for Rs 900 crore
Nov 19, 2013
MUMBAI: Express Towers, an iconic commercial building in South Mumbai's Nariman Point, is all set to get a new owner.
80,000 affordable housing units in 5 years: Report
Nov 19, 2013
MUMBAI: At least 80,000affodable housing units in the Rs 3-10 lakh range were constructed in the last five years across India, said a Monitor Inclusive Markets report.
Small formats sell quicker in affordable housing segment
Nov 19, 2013
MUMBAI: Small formats like one room-kitchen and small homes (compact 1BHKs/2BHKs) increase the affordability for low-income customers, states a Monitor Inclusive Markets report.
MMRDA to put on sale 2,500 affordable flats
Nov 19, 2013
MUMBAI: For those waiting to buy affordable small flats, around 2,500 tenements are almost ready in Thane and Vasai-Virar.
Maharashtra CM, officials discuss surplus FSI, ‘illegal’ plot
Nov 19, 2013
MUMBAI: In a high-level meeting, headed by the chief minister on November 15, senior bureaucrats discussed utilizing surplus floor space index (FSI) available under the new development control rules for rehabilitating residents of the illegal flats in Worli’s Campa Cola society and whether or not they would be able to afford a plot in the compound if it is taken back from a real estate developer who currently has third-party rights over it.
Affordable housing destination
Nov 19, 2013
MUMBAI: Badlapur is a small town on the periphery of the Mumbai Metropolitan Region (MMR). Badlapur city is virtually divided into two areas, East and West, by the Central Railway track. Badlapur East is mostly built on the hills and so are some parts of Badlapur West. The Ulhas river flows between Kulgaon and Badlapur.
Luxury housing in Lower Parel thrives due to accessibility to commercial hubs
Nov 19, 2013
MUMBAI: The proximity to the Bandra-Worli Sea Link, Dr Annie Besant Road, Dr E Moses Road and Senapati Bapat Road, is attracting end-users to buy luxury homes in Lower Parel. These roads connect the area with several prime commercial as well as residential destinations within the city of Mumbai.
Top realty firms like DLF, Oberoi Realty see sales fall 40-70% in Sept quarter
Nov 18, 2013
DELHI/MUMBAI: India's top listed real estate firms have reported a sharp drop in sales in the quarter to September as high prices and continued economic uncertainty kept home buyers away.
India's real estate sector to need $ 257 bn by 2015: Report
Nov 16, 2013
MUMBAI: The real estate sector in the country would need an investment of $ 257 billion by 2015, including Economic Weaker Section (EWS) housing, of which residential real estate alone would require $ 29 billion, according to an EY-FICCI real estate report released today.
Indian rental returns among lowest globally
Nov 16, 2013
DELHI: The return on investment on residential properties through rentals in tier 1 cities in India is among the lowest in the world. The rental yields in Delhi are the lowest at around 2% while Mumbai fares better at 3.5%.
Increase Of TDR Catches Mumbai Real Estate Off-Guard
Nov 16, 2013
MUMBAI: The sudden rise in the TDR price has taken the market unawares, despite the fact that such a rise was likely because not much of TDR generation was taking place. Effectively, TDR prices have now doubled, and such a steep rise was not expected. The current price of TDR is now around INR 4000 per sq ft.
BMC, Mhada must act responsibly, says Court
Nov 16, 2013
MUMBAI: Voicing concern over increasing number of building collapse incidents in the city during the last one year, the Bombay High Court observed that authorities like the municipal corporation and Mhada must act in a more responsible manner rather than shifting blame on each other.
New airport: Plan B ready, says Chavan
Nov 16, 2013
MUMBAI: Even as the Prime Minister has given the go ahead for the Navi Mumbai airport in the face of opposition from certain villages, the Maharashtra Government is already working on an alternative plan for a new airport in the city to be built over reclaimed land.
Buying your dream house? Here's a checklist to bear in mind
Nov 15, 2013
MUMBAI: The ongoing Campa Cola compound stand-off in Mumbai has clearly unnerved many prospective home buyers.
Mumbai Residential Property – Striking A Balance
Nov 15, 2013
MUMBAI: Mumbai has a high residential inventory of 67,000 units, equal to sales of 34 months. While the underlying demand is strong, it is not being converted into transactions due to the high property prices. From a developer’s point of view, low absorption is a source of worry; however, due to high costs of land acquisition, raw material, labour, finance and new costs such as fungible FSI, lowering prices beyond a point seems difficult. Is there a way to end this stalemate?
BMC weighs options to rehabilitate Campa Cola residents
Nov 15, 2013
MUMBAI: The Brihanmumbai Municipal Corporation (BMC) is examining the option of taking back a part of the plot in the Campa Cola compound from a builder, who had acquired third-party rights without the civic body’s permission, for the FSI required to accommodate the occupants of the illegal flats. BMC commissioner Sitaram Kunte will present the option to the chief minister on November 15.
Mumbai builders must keep 20% area for affordable housing
Nov 15, 2013
MUMBAI: Builders developing a housing project on a 4,000 sq m (acre) plot must reserve 20% of the area for affordable housing, according to a state government notification issued last week. It will not be applicable to schemes where commencement certificates were issued on or before November 8, 2013.
Do the homework on real estate funds
Nov 15, 2013
MUMBAI: If you have more than a few lakhs waiting to be parked somewhere, investing in real estate must have crossed your horizon. Real estate investments, a high-end one and typically meant for wealthy individuals, have been delivering internal rates of returns of around 18-25 per cent per annum in the past few years.

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