Latest Realty News

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.
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.
Thane: The hub of 1-bhk apartments
Nov 18, 2013
MUMBAI: Ghodbunder Road, Badlapur, Kalyan west and Dombivli east offer almost 37 per cent of the total supply of 1-BHK units in Thane. Affordability and well-built connectivity to Mumbai make these areas sought-after residential locations for mid-income buyers.
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.
Demolition in Mumbai will weaken legal floors, residents fear
Nov 13, 2013
MUMBAI: Campa Cola residents whose flats have been declared illegal are understandably under pressure, but legal residents whose homes are not up for demolition are enveloped by insecurity as well. Two reports by structural engineers indicate that the remaining structure will not be fit for habitation once the illegal portions are demolished. The legal residents also wonder how the BMC will continue to provide water and electricity while cutting off utilities for the illegal flats. After all, fl
Builders continue to violate norms in Mumbai
Nov 12, 2013
MUMBAI: At a time the BMC is preparing to demolish unauthorized flats in Worli’s Campa Cola society, experts say the authorities continue to turn a blind eye to other building violations in the city.
90% of buildings inspected in Mumbai suburbs flouted fire norms
Nov 11, 2013
MUMBAI: Suburban buildings are face a greater risk from fire, according to data from a fire brigade audit of residential and commercial buildings in the city this year.
Govt clamps down on fraud by impersonation in property deals
Nov 11, 2013
MUMBAI: The stamp duty and registration department has introduced rules to curb an alarming rise in fraud by impersonation in property transactions.
Fall in recovery of stolen property
Nov 11, 2013
MUMBAI: A National Crime Records Bureau (NCRB) report has shown a decrease in recovery of property stolen in the country, with 19.5% in 2012, against 28.5% in 2011. It has shown a sharp fall in recovery in Maharashtra with 1.6% in 2012 against 12.1% in 2011.
Noose to tighten on misuse of POA for land deals
Nov 11, 2013
MUMBAI: The central government will tighten the noose on individuals using the power of attorney (POA) for fraudulent land deals. The POA authorizes a person to carry out transactions or act legally on behalf of another.
Flat sale in the VAT net
Nov 06, 2013
MUMBAI: Recently, in the case of Larsen & Toubro, the Larger Bench ruled that Value Added Tax (VAT) would apply on “under-construction property”, and upheld two earlier decisions from the Supreme Court and the Bombay High Court.
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.
Realty firms gear up for first asset-backed property bonds
Oct 28, 2013
MUMBAI: Property firms, including DLF Ltd, are gearing up to sell the country’s first bonds backed by rental income from their office buildings and shopping malls.
Kanjurmarg competes with Mulund and Ghatkopar
Oct 28, 2013
MUMBAI: Kanjurmarg, one of the suburbs located on the east-central side of Mumbai, is known for its affordable housing projects, as compared to other suburbs such as Mulund and Ghatkopar. Considering its proximity to several other real estate destinations, the area today, has carved a path for itself. Here are some of the major reasons why it has become a vibrant real estate destination.
Infrastructure problems, title disputes plague affordable homes
Oct 18, 2013
MUMBAI: The affordable homes market, thriving on the outer fringes of Mumbai, is beset with problems like lack of infrastructure, poor transport connectivity, issues of land titles and delayed clearances.
The evolution of Kandivali as a residential hotspot in Mumbai
Oct 08, 2013
MUMBAI: Kandivali has seen a drastic transformation in recent times. Homebuyers prefer this location due to its proximity to important commercial centres, like BKC and Andheri. With projects focused on modern lifestyles and amenities coming up in the area, buyers have another reason to rejoice. There are a number of exceptional facilities, like schools and colleges, restaurants, theatres and gardens in Kandivali; the area has undergone a complete makeover.
Right time to invest in the Goregaon-Borivali growth corridor
Oct 08, 2013
MUMBAI: For people looking for well-designed living spaces with beautiful landscapes, the glitziest malls and commercial outlets – all within a walking distance, Goregaon west is the ideal location. Off the western express highway, Goregaon west has emerged as an upscale commercial and residential destination in the western corridor of Mumbai.
Andheri East is an attractive proposition for Mumbai homebuyers
Oct 08, 2013
MUMBAI: Andheri east has gained prominence in both, residential and commercial segments lately. It is an industrial area and also a MIDC-SEEPZ zone. The Chhatrapati Shivaji International Airport is an important landmark here. The upcoming Mumbai metro and its close proximity to the western express highway ensure that any project here will see increasing valuations over the years. Ramesh Nair, managing director west, Jones Lang LaSalle India, says, “The area has now become a hot property destinat
‘Reserve 20% area for low-income housing’
Oct 07, 2013
MUMBAI: A year after the state stalled its draft notification following objections from developers, it is set to issue a the final notification making it mandatory for developers to reserve 20% of areas of more than over 2,000 sqm for affordable housing.
Commercial setups, connectivity, boost residential demand in Andheri East
Jul 24, 2013
MUMBAI: Situated in the western suburbs of Mumbai, the eastern part of Andheri, known for its commercial setups, is fast becoming a promising residential destination to watch out for. The planned commercial development here includes the Maharashtra Industrial Development Corporation (MIDC), the Santa Cruz Electronic Export Processing Zone (SEEPZ) and the Solitaire Corporate Park. All of these projects are boosting the residential market in the locality. The area is well-placed and connected to m

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