Latest Realty News

Tata Housing launches Rs 2,000-crore luxury project in Mumbai
Jan 10, 2014
MUMBAI: Tata Group real estate arm Tata Housing Development today launched a luxury residential project in the northeastern suburb of Mulund.
Chairman in Pune, thief in Mumbai
Jan 10, 2014
MUMBAI: Nilesh Dattatray Chougle (33) is a well known businessman and a chairman of a huge housing society in Pune but in Mumbai he is a habitual house breaker who has around 110 criminal cases on him.
PE Blackstone, Panchshil Realty bid Rs 186 cr for Citi’s BKC property
Jan 10, 2014
MUMBAI: Pune-based Panchshil Realty and US-based private equity giant Blackstone have emerged front-runners for buying Citibank’s old headquarters at the Bandra-Kurla Complex, Mumbai’s prime business district. They have jointly bid Rs 186 crore.
Keep room for sea level rise in city planning of Mumbai
Jan 10, 2014
MUMBAI: All new development projects must factor in the impact of climate change and sea level rise, said environmentalists on January 9.
Tata Housing launches Rs 2,000-crore luxury project in Mumbai
Jan 09, 2014
MUMBAI: Tata Group real estate arm Tata Housing Development today launched a luxury residential project in the northeastern suburb of Mulund.
Indiareit raises Rs 1000 crore for domestic property fund
Jan 09, 2014
MUMBAI: Indiareit Fund Advisors, the real estate private equity arm of India's Piramal Enterprises, has raised Rs 1000 crore ($160.5 million) from investors within the country, the company said.
PE exits in real estate rose by 33% in 2013
Jan 09, 2014
CHENNAI: Private equity (PE) firms focused on the real estate sector made 24 exits during 2013 compared to a total of 18 exits announced during 2012. Ten of these exits with disclosed values harvested $421 million for the investors.
Sebi disposes case against Real estate firm Hubtown after settlement
Jan 09, 2014
MUMBAI: Real estate firm Hubtown Ltd, formerly known as Ackruti City, has paid Rs 2 lakh to settle a Sebi probe into alleged irregularities with regard to correct disclosure of promoter shareholing in the company.
Commit to savings through real estate
Jan 09, 2014
MUMBAI: Is real estate a good investment? Or is real estate good for you? The former focuses on returns from real estate, while the latter focuses on what real estate ownership can do to your emotional state of being. After observing the almost-compulsive urge among individuals to own a house, we realized that real estate ownership can do more good to your mental well-being than it can do to your portfolio.
Kanakia Group to invest Rs 500 crore in residential, hotel properties
Jan 09, 2014
MUMBAI: Diversified conglomerate Kanakia Group plans to invest more than Rs 500 crore over the next two years for developing residential and hotel properties, a top company official said.
City property owners get relief from new tax regime, for now
Jan 07, 2014
MUMBAI: Property owners in Mumbai have received interim relief from a new capital value-based property tax regime that may increase taxes by up to 300 per cent, with the Bombay High Court intervening in the matter.
12% drop in new residential project launches in 2013 as over last year
Jan 07, 2014
MUMBAI: There has been a drop of 12% in new residential project launches in 2013 as over last year, a latest report from international property consultants Cushman & Wakefield says. The total estimated unit launches were recorded at 172,500 units across major eight cities of India with Bengaluru recording the largest number of units launched recording a rise 15%. Chennai on the other hand saw the sharpest decline in launches of new residential units which represented a drop of 39% over last year
Operation township
Jan 07, 2014
MUMBAI: Till recently, buying a property called for some painful compromises. Budget restrictions meant you could only buy in specific residential areas, regardless of whether there were educational institutions, playgrounds, hospitals, shopping centres, connectivity to your place of work, or entertainment hubs in the vicinity, apart from availability and reliability of utilities like power and water. Real estate players were quick to recognise this and come up with a creative solution—townships
Mumbai office realty: Western suburbs new growth centre
Jan 07, 2014
MUMBAI: Looking back on 2013, the prevailing attitude among businesses toward the economy was “wait and see. The decision to take up more real estate office space was mostly put on hold; or companies aggressively looked to bring down their costs. Corporates put their investment decisions on hold, waiting to see how the economic scenario unfolds especially in light of the forth-coming national elections.
New RR rates hike cost of old flats in Mumbai too
Jan 06, 2014
MUMBAI: If you choose to buy a flat in an old building today, you won’t be able to avail of the full 30% depreciation in the property‘s value. The up to 20% hike in ready reckoner (RR) rates for properties this year has lowered the depreciation benefit for flats in 20-year-old buildings to merely 2% to 11%. As a result, stamp duty to be paid on new and old flats will no longer vary substantially.
2014 expected to get big ticket funding
Jan 04, 2014
MUMBAI: Funding, or rather the lack of it, has been one of the key concerns of the real estate developers throughout 2013. However, if we look at some of the key policy decisions that have been taken in the year, it seems 2014 is all set to get big ticket funding. The money is poised to be invested in the sector and if not as private equity, the biggies will put in money through Real Estate Investment Trust (REIT). The reports suggest that private equity funds such as Kotak Realty Fund, Tata Rea
RCom repays Rs 3,100-cr overseas debt
Jan 04, 2014
MUMBAI: Reliance Communications has fully repaid a syndicated external commercial borrowing (ECB) loan of $500 million or Rs 3,100 crore.
Factors expected to drive Mumbai’s realty in 2014
Jan 03, 2014
MUMBAI: While 2013 was a year of stagnancy for the real estate market in Mumbai, 2014 is expected to perform better. However, there are certain factors that would impact growth and a substantial improvement is expected only if the conditions favour the market. A few things one hopes will happen in the year 2014 are
Bangalore likely to top country’s office space demand this year: Cushman & Wakefield
Jan 02, 2014
MUMBAI: India is likely to witness the second highest demand for office space in 2014 among the top 30 cities in the Asia-Pacific region, according to a report by property consultancy Cushman & Wakefield, which says Bangalore is expected to be the biggest market in the country due to the expansion of IT, ITeS and multinational companies.
20% rate hike in ready reckoner for posh areas in Maharashtra
Jan 02, 2014
MUMBAI: The state government has increased the ready reckoner (RR) rates for residential and commercial properties by up to 20% in municipal corporation areas of Pune, Thane, Navi Mumbai and Mumbai from the new year.
Now, higher stamp duty on luxury flats in Mumbai
Jan 02, 2014
MUMBAI: Buyers of Super luxury flats with ceilings higher than nine feet, amenities like in-house swimming pools and helipads will have to pay up to 50% higher stamp duty than regular flats. Buyers of flats in luxury properties that exceed 4,000 square metre, or one acre of plot with a common gymnasium, club house and swimming pool, would have to shell out an additional 15%. This figure is over and above the up to 20% increase in the ready reckoner (RR) rates with effect from January 2014.
Mumbai office space grew up in 2013
Jan 02, 2014
MUMBAI: Despite the uncertain economic conditions, absorption of office spaces in Mumbai rose by 4.4% y/y to 7 million square feet in 2013, as against the 6.7 million square feet in 2012. As a result, vacancy fell to 22.9% in 2013 from 24% in 2012. Nearly 7.5 million square feet of new supply was added to Mumbai’s office stock in 2013 – an increase of 8.8% y/y compared to the 18% growth in stock in 2012. The total current office stock in Mumbai stands at 91 million square feet.
Small, mid size developers overshadowing big names
Jan 02, 2014
MUMBAI: Buying a home is a dream for many as it consumes a major chunk of the savings. But due to delay in possession, despite investing hard-earned money, denizens are not able to live their dream. Timely possession has always been a big question for buyers bearing home loan interest, rent and daily expenses in times of high inflation.
Second half of 2014 to fuel growth in real estate
Jan 02, 2014
MUMBAI: Real estate professionals are unanimous in one prediction: Things will start looking up for the sector only in the second half of 2014, after the general elections, when clarity on the new government will emerge and businesses start investing.
Office space vacancies in Mumbai fall for first time since 2007
Jan 01, 2014
MUMBAI: Vacant commercial spaces in Mumbai have fallen in 2013 for the first time since 2007. Lease rentals and capital values for offices across the financial capital's commercial districts, barring Nariman Point have also seen an uptick for the first time after dropping for five consecutive years.

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