Latest Realty News

Cost of houses pretty high, scope for reduction: RBI's S S Mundra
Aug 21, 2014
Residential property prices in India have a lot of scope for reduction as supplies are sufficient, a top RBI official said
BMC to issue certificates before razing shaky buildings
Mar 21, 2014
MUMBAI: In a bid to persuade the residents of private societies to vacate their dilapidated buildings, ward offices will issue them a certificate of occupancy before razing such structures.
Is it a good time for end users to buy their home?
Jan 30, 2014
PUNE: The real estate market is gradually maturing in India and therefore, it elegantly overcomes all the challenges. After the economic slowdown and a series of setbacks, the realty market has been bifurcated into two parts i.e. the realty market from the perspective of investors, and from the standpoint of end-users. Experts believe that the current realty market of Mumbai and Pune, are to remain subdued from the investors’ point of view but if you are an end-user, then this can be a good chan
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.
Factors that impacted Mumbai’s real estate in 2013
Dec 28, 2013
MUMBAI: Though Mumbai is the financial capital of India, the real estate market of the city has not been very encouraging in 2013 as the over-all performance graph was stagnant. The reasons for stagnancy could be justified due to various factors that impacted the market. A few of them have been discussed here:
Mumbai real estate market – an overview for 2014
Dec 24, 2013
MUMBAI: The year 2013 was an eventful year for the Indian Real Estate sector with the introduction of the Real Estate Regulatory Bill and the Land Acquisition Bill in the parliament. With such developments happening, there is high optimism about the coming year – 2014. There is hope that 2014 will see a positive shift from the earlier years and will bring in the much required stability and transparency in the property market. Mumbai’s real estate market too, expects to see stability and healthy
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
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
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.
Prices of residential property in Mumbai drop nearly 10% over the past three quarters
Nov 27, 2013
MUMBAI: The residential property market in Mumbai is turning in favour of buyers with inventory levels rising and prices weakening. Residential property prices in some south and central Mumbai locations such as Parel, Lower Parel and Mahalaxmi have declined nearly 10% over the previous three quarters with the increase in the number of unsold homes and prospective buyers reluctant to exceed budgets amid a slump, said property consultancy Knight Frank India.
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.
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

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