Latest Realty News

Campa residents see hope in SC’s remark
Jul 10, 2014
MUMBAI: The residents of Worli’s Campa Cola Compound believe that the Supreme Court’s latest observations have offered them a ray of hope. But legal experts are cautious in their opinion on whether this paves the way for regularization of the unauthorized floors of the compound’s buildings.
Mumbai: Residential demand increases in eastern suburb
Jul 07, 2014
MUMBAI: The hitherto low-profile eastern suburb of Mumbai, starting from Kurla to Thane on the Lal Bahadur Shastri Marg, is fast becoming the next commercial hub of the city with tiny office complexes and new-age retail destinations, giving tough competition to its southern and western counterparts such as Nariman Point, Worli-Lower Parel and Bandra-Kurla Complex, among others.
Not a single Campa Compound resident returns keys
Jun 15, 2014
MUMBAI: The deadline for vacating illegal flats in Worli’s Campa Cola compound lapsed at 5pm, June 12, but not a single resident submitted keys to their ward office, as asked by the BMC. The civic body now plans to enter the premises on June 17 to cut electricity, water and gas connections, following which it will start demolishing the internal walls of the flats to make them uninhabitable.
Campa residents divided as deadline gets over
Jun 15, 2014
MUMBAI: June 12 marks the final deadline for residents of the illegal flats at Worli’s Campa Cola compound to vacate their apartments and hand over the keys to the local G South ward office. The BMC on June 13 is likely to serve notices, saying they will enter their premises and take action to evacuate the occupants.
Is Mumbai and Pune market going to see a major change on gudi padwa?
Apr 01, 2014
MUMBAI: “Buyers are back in the housing market!” exclaimed one of the city builders with a sigh of relief and they have enough reasons to be relieved. There is a considerable rise in the sale numbers, compared to January and February. City builders are only hoping that this trend will continue in the coming months as well. Madhurima Basu, director – residential services, Cushman & Wakefield, says, “Increase in demand is expected, due to developers offering discounts and subvention schemes to att
Land prices in Mumbai touch new high
Mar 26, 2014
MUMBAI: Acute land shortage in Mumbai has led to a ridiculous situation where plots fetch astronomical rates. On March 24, a 25-acre sprawl belonging to Tata Steel in the suburban Mumbai invited the highest bid of Rs 1,155 crore. Over the past decade, as the housing shortage became more severe, the city recorded phenomenal property transactions. Fours years ago, a land parcel sold for over Rs 4,000 crore, a national record of sorts.
Resale property
Mar 21, 2014
MUMBAI: If one has personal cash resources at one’s disposal and is not reliant on a home loan, it is best to buy a home in a strategic, high-demand location that has no new supply of housing, feel experts. This could result in very high return on investment (ROI) because it would mean that the project would come up for redevelopment, ensuring a tidy profit to the owner. However, it is important to note that home loans on a very old property cannot be taken for granted.
City planning: The Mumbaikars’ way
Mar 19, 2014
MUMBAI: “When I see the city from my window, I don’t feel how small I am but I feel that if a war came to threaten this, I would throw myself into space, over the city, and protect these buildings with my body.” This Ayn Rand quote would possibly cross our mind, when we look at the skyline of Mumbai. If we dig deep into the history of this metropolis, we will be amazed to know how two distinctly different cities, co-exist here. One Mumbai exists which is rhetoric, expressive, tangible and can be
Mumbai builders flout rules, sell flats in projects sans clearances
Mar 18, 2014
MUMBAI: Without any construction permissions in place and sometimes even when land titles are not clear, builders in the city have been enticing clients to book flats early at discounted rates although it is illegal under the law. In fact, by luring investors to book flats by paying just 10% to 20% before the first brick is laid, developers manage to sell 200 to 300 flats even before the project is publicly announced in some cases.
IT searches Hiranandani group in Mumbai, other places
Mar 12, 2014
MUMBAI: The Income Tax department today conducted searches at 20 locations of real estate major Hiranandani group in Mumbai and other cities in connection with alleged tax evasion.
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.
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.
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,
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.
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.
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.
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.
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.
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.

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