Latest Realty News

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.
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.
Realty segment hoping for turnaround in 2014
Dec 31, 2013
MUMBAI: While the Indian real estate sector has been on a growth mode in the last three years, though not much support has been extended by the market or the policy makers, there is a strong optimism within the built environment that 2014, would be a turnaround year. Though, nothing much has changed in terms of issues and concerns of the sector as another year comes to an end, some of the policy decisions in the last six months, indicate that the sector is finally on the road to recovery. To add
Renting real estate can be a worthwhile option
Dec 30, 2013
MUMBAI: Possibly the biggest buying decision of your lifetime - purchasing your own house - has become a lot more difficult than before, with prices rising in the big cities of Mumbai and Delhi and several other parts. In certain prime locations, the affordability index has gone through the roof, posing big questions before property aspirants: To buy or to rent? Will property price correct in 2014?
Campa Cola residents hope new SC bench will resolve issue
Dec 23, 2013
MUMBAI: Members of the beleaguered Campa Cola compound in Worli have expressed relief after the chief minister on December 20 assured them of help. Privately, however, they are relying more on their review petition that comes up for hearing before the Supreme Court on January 6.
Now, e-payment of stamp duty a must in Mumbai
Dec 22, 2013
MUMBAI: From December 23 and it will be mandatory for citizens to pay property stamp duty and registration fees through electronic secured bank treasury receipt (eSBTR)-an online payment service available round-the-clock.
Where to look for affordable homes around Mumbai
Dec 21, 2013
MUMBAI: Mumbai, India’s commercial capital and one of the most thriving city, pulls in hundreds of people from all over the world with education and professional opportunities. Everyone comes here with a dream of owning a small space and feel one with the surroundings. But the reality is that owning a home in Mumbai is a distant dream for many looking for property within Rs 20-35 lakh, thanks to the skyrocketing property values.
Developers’ goodwill connects well in redevelopment of Mumbai
Dec 21, 2013
MUMBAI: A look at the changing face of the redevelopment segment in Mumbai suggests that it is the developers’ goodwill that connects better in this segment rather than any clout whatsoever. Analysts maintain that redevelopment is an inevitable reality in the city’s development and its perception is definitely seeing considerable improvement. People have also started realising that it is the only efficient method to transform the city’s graph. Planned redevelopment enables the maintenance of ass
Before you invest in property
Dec 20, 2013
MUMBAI: In recent times, a number of high net worth individuals have received calls or mailers from builders or websites to encourage them to invest in property. The deals sound lucrative, with annual returns of 12 per cent and other benefits.
Only 7% unsafe buildings conducted audit: Maharashtra CM
Dec 11, 2013
MUMBAI: Chief minister Prithviraj Chavan said on December 10 in the house that out of the six thousand buildings identified for structural audits in Mumbai only 415 had complied with the order. The megacity of Mumbai seems to sitting on hundreds of ‘building bombs’ which may kill residents upon their collapse anytime in future.
Inflation, rupee, sliding growth hit commercial property market
Dec 11, 2013
MUMBAI: Sentiment in the Indian occupier and investment real estate markets has been hit on account of deteriorating levels of growth in the economy, continuous fall in the rupee value, high retail inflation and subsequent rise in key policy rates, according to the RICS India Commercial Property Survey Q3 2013.
Metro and monorail: A boon for Mumbai suburbs
Dec 06, 2013
MUMBAI: P Nagarajan, a resident of Andheri, is upbeat about both, the monorail and the metro project, even though the projects have been delayed. For many like him residing in the suburbs, these projects are going to make life much easier. According to property analysts, these projects are being envisaged as game-changers in terms of connectivity and will reduce both, traffic congestion and commuting time.
Home away from home near Mumbai
Dec 06, 2013
MUMBAI: Driving out of the city on a weekend to the beautiful landscape in the western ghats within a 200-kms distance from Mumbai is now seen more than a weekend getaway. Given the plethora of options in housing available in the scenic spots nestled in the hills, people increasingly prefer the option of driving to their second homes and relaxing over the weekend. With the Konkan coastline with its verdant landscape and lush greenery on one side and the Arabian Sea on the other, a second home in
Focus on delivery makes Mumbai realty realistic
Dec 05, 2013
MUMBAI: A perception is gaining ground in Mumbai that the city’s property market has reached a saturation point, with critics citing the standing inventory of 48 months as evidence. However, a closer look at the market suggests that even though it is facing the effects of an overall slowdown, like any other part of the country, the high inventory level is not necessarily a sign of stress at the project level or with developers’ balance sheets.
Conditions on RTI access to building plans lifted in Maharashtra
Dec 05, 2013
MUMBAI: State information commissioner on December 4 withdrew an order issued last month that imposed certain qualifications on obtaining building plans approved by the BMC under the Right to Information (RTI) Act.
Hike in TDR prices takes the Mumbai market by surprize
Dec 04, 2013
MUMBAI: The real estate market in Mumbai has been going through ups and downs since the past five years. However, the segment received a major jolt due to the recent spike in transfer of development right (TDR), a move which has been received by the suburban developers with great caution and even disappointment. TDR plays an important role, at least in the suburbs of Mumbai. Ram Raheja, director and head-design and architecture, S Raheja, says, “TDR is an important component for builders redevel
How to find the best commercial real estate location
Dec 03, 2013
MUMBAI: Despite the availability of more rationally priced options, investing in commercial real estate is most definitely not child’s play. It requires forethought, research and planning:
Bhandup West sees 46 per cent capital appreciation
Dec 02, 2013
MUMBAI: Located close to affluent areas such as Mulund and Powai, Bhandup west has been becoming popular as a prime residential address on the central line in Mumbai. A 1,000 sq ft apartment, which was available for Rs 1 crore in 2012, is now selling at Rs 1.16 crores.
Building plan order in Mumbai hides more than it reveals
Dec 01, 2013
MUMBAI:Architects are strongly opposed to the new directive issued by state information commissioner Ratnakar Gaikwad terming them as dubious.
BMC wants evidence to register complaints about illegal buildings
Nov 28, 2013
MUMBAI: If you want to complain to the BMC about illegal constructions, you’ll now have to submit evidence too.
2-BHK homes in Panvel or Kamothe?
Nov 26, 2013
MUMBAI: The price at which you get a 1-BHK apartment in Andheri or Ghatkopar, can get you a 2-BHK in localities like Panvel and Kamothe. These suburbs of Navi Mumbai have been witnessing a steady demand for 1 and 2-BHK apartments, owing to their competitive pricing. “A 1-BHK apartment in Panvel and Kamothe, sized between 500 and 700 sq ft, is available for Rs 35-40 lakhs and a 2-BHK apartment of 750-1000 sq ft area, costs anywhere between Rs 80-85 lakhs,” informs Paritosh Bhasulm of PropTiger.
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.
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.
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.

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