Latest Realty News

Nothing is for Free; think twice before you accept rent on home buy
Mar 19, 2014
MUMBAI: Two Mumbai-based builders — wo Mumbai-based builders — Nirmal Lifestyle and Rustomjee — are promoting some of their under-construction residential properties with the promise of paying rent. Nirmal Lifestyle promises to pay the rent if the construction of its project is delayed beyond December 2017, while Rustomjee will pay the rent during the construction period.
Four weeks to study Campa Cola documents
Mar 11, 2014
MUMBAI: Attorney general Goolam Vahanvati appearing for the BMC sought four weeks from the SC to study the land title and conveyance documents submitted by Campa Cola residents who have filed a review against their eviction order.
Ready reckoner painful for real estate buyers
Feb 22, 2014
MUMBAI: The state government must review its latest ready reckoner (RR) rates, which is used to calculate market value of properties for payment of stamp duty and registration charges.
Real estate prices still high despite weak demand: India Ratings & Research
Jan 22, 2014
MUMBAI: India Ratings & Research has maintained a negative to stable outlook on the real estate sector for 2014-15 on the back of continued weak end-user demand and adverse consumer sentiments.
Indian real estate worth Rs 7,700cr up for sale by lenders: Report
Jan 16, 2014
MUMBAI: India's dismal economic figures have expectedly hit the Realty sector hard - an estimated Rs7,700 crore worth of commercial and residential properties across the country are up for sale by lenders, according to an industry study.
Biggies to buy into Shriram realty projects
Jan 14, 2014
BANGALORE: Textile major Arvind Ltd CMD Sanjay Lalbhai and a real estate fund of Aditya Birla are buying stakes in separate development projects of Shriram Properties, the unlisted real estate arm of the $10 billion Shriram Group, as marquee India Inc investors are tapping credible corporate names in the property market.
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.
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
Maharashtra mulls 10-25% rise in ready-reckoner rates from Jan 1
Dec 16, 2013
MUMBAI: The Maharashtra government is mulling a 10 to 25 per cent increase in the ready-reckoner (RR) rates for residential and commercial properties in Mumbai and the rest of Maharashtra from January 1, 2014. The revenue department has convened a meeting on Monday to explore various options in this regard.
Siemens puts 12 Mumbai properties on sale for Rs 40 cr
Dec 15, 2013
MUMBAi: Siemens has put its12 residential apartment properties in Mumbai on sale with a combined base price valuation of about Rs 40 crore.
Godrej Properties buys out PE firm in Kolkata project
Dec 05, 2013
MUMBAI: Godrej Properties Ltd has bought out private equity (PE) firm Red Fort Capital’s 49 per cent stake in its subsidiary Godrej Developers Pvt Ltd (GDPL) for an undisclosed amount.
Part I: Should you buy a new or a resale flat?
Nov 22, 2013
MUMBAI: Should you buy a new flat or a resale? There appears to be no easy answer to this question. People buy resale flats instead of new ones for various reasons. Sometimes, a certain location just does not offer suitable options in the primary market.
Part II: Should you buy a new or a resale flat?
Nov 22, 2013
MUMBAI: Assuming that a buyer learns of both new and resale options in the location of choice, it is important to understand the benefits of opting for the former:
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?
Uncertainty over Navi Mumbai airport impacts Ulwe’s real estate
Oct 30, 2013
MUMBAI: The state of uncertainty over the proposed Navi Mumbai International Airport has put the real estate market at Ulwe node, in shambles. It is mainly on the back of this project, home buyers have been showing interest in the area but now that there have been talks to scrap the project, there is a reason for property buyers to get jittery.
NSEL accused face attachment of property
Oct 23, 2013
MUMBAI: National Spot Exchange Ltd’s promoters, directors and defaulters now face attachment of movable and immovable properties from the economic offences wing (EOW) of the police here, in connection with the Rs 5,600-crore payment disputes case.
Mumbai Real Estate: Is a Leasehold Property Better Than Freehold?
Oct 18, 2013
MUMBAI: A leasehold property defines the status of the land on which the property is built. Leasehold land on which construction takes place is ordinarily on long-term lease of 99 years onward. Specific to residential property on leasehold land, one may use the example of the MMRDA’s Wadala development plan, wherein the land is given on long-term lease to various developers who can sell the units constructed on an outright basis. The developer ordinarily pays a substantial value for the long-ter
Bank premises charged four times more property tax than bars
Oct 15, 2013
MUMBAI: Owners leasing out properties to banks will have to cough up more than four times the property tax paid by bars under the BMC’s new capital value-based system. The new tax is almost twice of what is applicable to a five-star hotel and nearly 20 times more than that for a residence.
Selling a 17-acre project in South Mumbai, Lodha style
Oct 08, 2013
MUMBAI: From outside, the metal and glass facade of Lodha’s new residential project, The Park in Pandurang Budhkar Marg in Mumbai’s office hub Worli, looks like a corporate headquarter. The 10,000-sq-ft sales office inside, with quotes by renowned poets on glass walls, is equally striking.
Strong fundamentals behind more launches in Mumbai
Sep 20, 2013
MUMBAI: At a time when the economic slowdown has severely affected new launches in many property markets across India, Mumbai has seen the maximum launches in the first half of 2013. This shows without a doubt that the fundamentals of the city are still strong, making it a very resiliant property market. Even the NRIs prefer to bet on a matured market like Mumbai, compared to any other emerging market, due to the fact that the island city is the financial capital of the country. The overall real

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