Latest Realty News

Ready reckoner painful for Mumbai real estate buyers
Feb 24, 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.
Bandra-Kurla Complex second-most pricey office space
Feb 23, 2014
MUMBAI: The commercial business district of the Bandra-Kurla Complex (BKC) has emerged as the second most expensive office location in India and eighth in the Asia Pacific region.
Redevelopment is the future of Mumbai’s realty skyline
Feb 19, 2014
MUMBAI: Five years ago, the redevelopment of Mumbai was on the priority list of government policies. After all, cities remain vibrant if people inhabiting them are enthusiastic about living in those cities. You cannot expect people to exude zest when most buildings in the city are crumbling. The other problem the city faces is that there is no fresh land for development. Hence, the state government is now focused on redeveloping the existing old buildings. However, for one reason or the other, t
BMC plan to streamline building proposals dept delayed
Feb 18, 2014
MUMBAI: The civic administration’s best efforts notwithstanding, the construction industry may not get relief from delays and corruption, the two biggest banes of the BMC’s building proposals department, too soon.
Mumbai’s ultra rich have outgrown living in apartments
Feb 17, 2014
MUMBAI: Living in a bungalow has become the ultimate status symbol for the city’s uber rich, who are not swayed by penthouses and sky villas with 360-degree views
RR rates in Mahalaxmi precinct are more than market value
Feb 11, 2014
MUMBAI: An unusually high ready reckoner (RR) fixed by the stamp duty office on over century-old properties within Mumbai’s oldest religious and heritage sites, the landmark Mahalaxmi temple complex, has stumped its residents.
A boost for Mumbai’s real estate market
Feb 11, 2014
MUMBAI: For more than five lakh residents, the Supreme Court’s decision to remove the forest tag from huge tracts of land spread over Mumbai, has brought an end to their sleepless nights. The apex court has quashed all prior notices and orders regarding encroached forest land issues, in the last nine years, about the various areas bordering the Sanjay Gandhi National Park in Mumbai.
Realty sector to witness healthy activity in 2014
Feb 08, 2014
MUMBAI: The housing market is poised to regain momentum in the year 2014 and the turnaround of its fortune, is expected to coincide with the upcoming union budget. Analysts believe that if the residential market has remained stable during the year 2013, despite poor macroeconomic sentiments, it shows there is enough appetite for housing and projects, at the right price point, which are continuing to sell across the country. Moreover, with the reported inventory and expected supply coming in duri
BMC to double fine on illegal additions in flats
Feb 07, 2014
MUMBAI: The Brihanmumbai Municipal Corporation will soon start collecting penalty for unauthorized constructions or extensions at twice the property tax levied on the entire illegal area.
Resolve Campa Cola flats row, SC asks residents, civic body
Feb 04, 2014
MUMBAI: The Supreme Court on February 3 asked the Campa Cola Residents Association and the civic body in Mumbai to find out within four weeks a solution to the row over certain illegal and unauthorized flats which face demolition in view of its earlier order.
Mumbai realty registrations recover in Dec after Nov slump
Jan 30, 2014
MUMBAI: After hitting a five-year low level in November, Mumbai's property sales registration numbers rebounded in December 2013, showing a renewed interest in the financial capital's property market from buyers.
Tribunal asks ARCIL to stay auction of Tulip Star hotel
Jan 29, 2014
MUMBAI: In a major relief to Mumbai-based realty firm Nirmal Lifestyle, the Mumbai bench of Debt Recovery Tribunal (DRT) has directed stress asset firm ARCIL not to proceed further on auctioning of the Tulip StarBSE 2.27 % (erstwhile Juhu Centaur) Hotel at prime Juhu Tara Road in Mumbai.
PE for the mid-income housing segment in tier-II and III cities
Jan 29, 2014
MUMBAI: Tier-I cities in India have seen tremendous growth over the past several years and are now close to saturation in terms of their ability to offer sustainably lucrative investment opportunities in various industries. Tier-II and III cities, on the other hand, still boast of relatively untapped demand in various industries, which is only going to get accentuated over time, as these cities witness progressively higher growth enabled by concerted attention from a range of players.
Home away from home near Mumbai
Jan 29, 2014
MUMBAI: Owning a home is considered one of the most important investment decisions for anyone. Purchasing a second home is thus, the second most important decision. Having an asset that provides rental income can mean long-term financial security. In addition, appreciation in capital values can result in a significant corpus via sale of the asset, if and when needed. Many second home buyers from Mumbai also invest in second homes, primarily for the convenience of having a weekend getaway or to a
BMC’s preparatory report for ‘Development Plan’ made public
Jan 29, 2014
MUMBAI: The Municipal Corporation has undertaken the work of revision of the ‘Development Plan’ for Greater Mumbai for the 2014-2034 period (20 years). The work of revision of the ‘Development Plan’ is being carried out by municipal engineers, urban planning consultants and M/s Groupe SCE(I) Ltd. As a part of this exercise, the work of Existing Land Use survey (ELU) was completed in the year 2012 and the same was also thrown open to the public for comments till March 30, 2013. The comments recei
Mira Road-Bhayandar: Rapid transformation
Jan 28, 2014
MUMBAI: Back in 1992, when Basesh Gala, director-marketing and sales, Ravi Group, launched the company’s first project in Mira Road, the suburb was an ignored, passive and a far-flung region of Mumbai. Today, there are several projects which have come up in this area. He explains that “The flats in Mira Road are currently listed in the most wanted residential destinations of Mumbai city.
South Mumbai property owner traced to Malad ashram
Jan 28, 2014
MUMBAI: Nikhil Jhaveri, the owner of the defunct Palm Beach School, Nepean Sea Road, who was missing for more than a month, was traced to a shelter for destitute people in Malad on Sunday. Ironically, the Borivli police enrolled him, but did not communicate the information to the Samta Nagar police, who were looking for him.
Affordable housing to remain in demand in 2014
Jan 27, 2014
MUMBAI: The year 2013 was the period of reforms and surprises for real estate industry. Government landed the sector with policy reforms to restrict land disputes across India, introduced REIT for healthy funding and also relief through various changes in act then at the same time buyers were worrying about rising inflation and interest rates that affected home loan amount.
Bhiwandi is coming up with affordable housing
Jan 25, 2014
MUMBAI: Rohit Sheshadri, working in a software company in Thane had been searching for a flat around Thane area. After doing extensive research, he finalised a flat in Bhiwandi. Sheshadri said, “The rate which I got in Bhiwandi was even lower than my budget. Also, as the project was near the highway I am not facing any commuting problems. Bhiwandi is a town only 20 kilometres away from Thane which is now rapidly growing as a destination for homebuyers looking for budget homes.
Luxury housing finds space in Thane
Jan 23, 2014
MUMBAI: “Luxury projects in Thane? You must be joking. Isn’t the location meant for affordable living of working class?” Well, you may also have had the same reaction in the past if you weren’t tracking the developments in and around Thane’s property market. This region is on a fast forward mode of development and the growth has been both, horizontally and vertical. The fact is that Thane is changing and it is changing fast. Luxury projects which had a stronghold in South Mumbai and Navi Mumbai,
Strategic shift leading to market maturity in 2014
Jan 20, 2014
MUMBAI: What cannot be learnt in the class room or the board room, is better learnt by market dynamics, that too, against the odds. The Indian real estate sector, in search of better finance and clear policies, seems to have learnt it on the job and hence, there seems to be a strategic shift in its operating methodology. This indicates that the market is on its way to maturity in 2014. Realtors have, of late, learnt to innovate. Different business models are now being used. One of the most popul
Maharshtra stays 2014 ready reckoner guidelines
Jan 20, 2014
MUMBAI: The inspector-general of registration on January 17 issued orders staying the ready reckoner (RR) guidelines of 2014. The stamp duty and registration department will seek the opinion of all stakeholders like developers and legislators before preparing fresh guidelines to determine the market value of a property. Till then, the department will consider the market value of properties finalized in 2013.
Lodha Group set to launch 2nd phase of mega city project in Mumbai
Jan 10, 2014
MUMBAI: Leading estate developer Lodha Group today said it will launch the second phase of its mega city project 'Palava' on Saturday.
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.
Slow economy makes time right to buy property
Jan 07, 2014
MUMBAI: The Indian economy has had another tough year. Inflation went as high as 7.52 per cent, job opportunities reduced significantly across industries, the rupee saw steady erosion against the US dollar and market sentiments reached what was possibly their lowest point ever. And yet, things could be worse.

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