Latest Realty News

Reliance building on real estate interests in Kenya
Jun 27, 2013
MUMBAI: Reliance Industries is expanding its presence in the real estate sector in Africa.In its second major foray, the Mukesh Ambani-owned Reliance Industries has acquired 10 prime plots of land in Kenya’s capital, Nairobi, for around Rs 202 crore ($33.9 million).
Mumbai : New system may allow ready reckoner rates to be revised
Jun 27, 2013
MUMBAI: After receiving complaints on discrepancies in the ready reckoner rates in Mumbai and other parts of the state, the government on Wednesday said it would review the system to determine real estate prices, and also introduce an option of revising them after they are published.
‘Housing Regulator Bill ignores ground realities’
Jun 26, 2013
MUMBAI: Even though the Real Estate (Regulation and Development) Bill is expected to bring in transparency, it also brings with it challenges like timely project clearance which need to be addressed first, consultancy firm Jone Lang LaSalle has said.
Exit low building clusters, enter skyscrapers at Girgaum and Parel
Jun 26, 2013
MUMBAI: The skyline is set for a drastic change with the high-power committee for cluster redevelopment giving the go-ahead to two projects at Girgaum and Parel each. All low-rises here would be mowed down to make way for skyscrapers.
Unrestrained speculative buying can kill the market
Jun 25, 2013
MUMBAI: With the Mumbai real estate re-sale market touching hitherto unseen heights, questions about how sustainable the real estate bubble is are being raised more so now than ever.
CHD Developers launches its Headquarters-CHD Sky One
Jun 24, 2013
DELHI: NCR will soon witness its own symbolic building, as CHD Developers Ltd., one of northern India’s most renowned developers are set to launch its headquarters ‘CHD Sky One’ in Dwarka Expressway. Poised to be an iconic building of India, Sky One will change the skyline of Dwarka Expressway with its stunning international design, setting a benchmark like no other.
Slowdown in real estate: Time for home buyers to go bargain hunting but exercise due diligence befor...
Jun 24, 2013
DELHI: A slowdown in the real estate sector can spell opportunity for the prepared. Delhi-based publishers, Umraopati Ray, 30, and his wife PriyankaSaxena, also 30, own an apartment at PaschimVihar. As the slowdown in the National Capital Region (NCR) intensified, the young couple went hunting for good deals. Recently, their efforts were rewarded when they managed to buy a flat at VasantVihar at a price 15% lower than the peak rate witnessed in the area in the past.
Ulwe outperforms in the Uran-Ulwe stretch
Jun 24, 2013
MUMBAI: The long stretch from Uran to Ulwe in Navi Mumbai, covers many areas which have witnessed spurts of real estate development but the one area which has emerged as a clear favourite of developers and investors, is Ulwe.
Condominium concept popular amongst Mumbai middle class
Jun 22, 2013
MUMBAI: Nina and her husband are working professionals with two school going children. Her apartment complex recently signed up a Property Manager, who gets the household chores done, including delivering lunch for the two children and her by 7.45 am.
South Mumbai property rates crash 30% as buyers miss the ‘view point’
Jun 22, 2013
MUMBAI: Marquee apartment buildings in south Mumbai with views to die for (of the sea, the Queen's Necklace, the Race Course) fetched its owners unheard-of prices till a few years ago. But not any more as new apartments which tend to block the views are depressing property values by up to 30%. The art deco Kamal Mahal, which was once the home of the Ambani and Godrej families, on Carmichael Road now has the high rise Imperial Towers by Shapoorji Pallonji on its east side blocking the view reside
CREDAI bats for realty reforms with Girija Vyas
Jun 21, 2013
DELHI: Praising the Union Government’s efforts towards real estate reforms, realtors’ apex body Chairman Lalit Jain expressed the hope that the new Housing and Urban Poverty Alleviation Minister Ms. Girija Vyas will continue with the unfinished task of her predecessor Mr Ajay Maken.
Borivali West not viewed as a suburb anymore
Jun 20, 2013
MUMBAI: Borivali West, classified as one of the suburbs of Mumbai, grew by 22 per cent in the Jan-Mar 2013 quarter. The average price of the area today commands Rs 15,200 per sq ft. Properties in places like RM Bhattad Road, one of the best roads in Borivali West, fetch around Rs 18,500 per sq ft.
Demand for rental homes down as India Inc turns thrifty
Jun 20, 2013
MUMBAI/DELHI/BANGALORE: Demand for rented homes has halved and rents are down by 25% in several popular residential localities in Mumbai, Delhi and Bangalore, as India Inc tightens housing budgets in its battle against economic slowdown.
Opinion divided on housing regulatory bill
Jun 20, 2013
DELHI: The Real Estate (Regulation and Development) Bill, 2013, which seeks to regulate the housing market and protect the interest of homebuyers and developers has been cleared by the Union Cabinet and will be placed in Parliament for its approval.
The Bill will be a boon for homebuyers
Jun 19, 2013
MUMBAI: The Real Estate Regulator Bill which was recently approved by the union cabinet, has been several years in the making now and hasn’t had smooth sailing from the start. Apart from inordinate delays, it faced much resistance from the real estate fraternity at initially who were afraid that this Bill would prove to be yet another regulatory bottleneck, rather than a regulation that would empower the industry and its homebuyers.
Home buyers increasingly turn to Virar
Jun 17, 2013
MUMBAI: When Bollywood actor Govinda made his debut in the Hindi film industry, people made fun of him, labelling him ‘Virar ka chokra’, as the actor hailed from the far-flung Mumbai outskirts. Just like Govinda, Virar has come a long way since then and real estate and infrastructure development have made the area a prime location for those looking for affordable and spacious homes.
5 reasons for investing in Tambaram East
Jun 14, 2013
CHENNAI: Tambaram, once mooted as Chennai’s satellite town, is today seeing high real estate activity. Situated in South Chennai, it has a mix of commercial and residential real estate and is divided into Tambaram East and Tambaram West. Many experts advise on investing in Tambaram East over the West.
Levying TDS complicates the home buying process
Jun 14, 2013
MUMBAI: The Finance Bill 2013 has introduced a new Section 194 IA which provides that with effect from June 1, 2013, the buyer of property will have to deduct tax at source at one per cent from the payment to be made to the seller, if the sale consideration is Rs 50 lakhs or more.
Brokers turn developers as realty business booms
Jun 14, 2013
BANGALORE/ MUMBAI: PrashanthSambargi, partner at Bangalore-based real estate brokerage firm Mars Realty, is these days busy designing residential projects for two land parcels he owns in the IT capital of India. "I am now looking at smaller size projects with 18-40 units with 20 months' turnaround time... big builders do not enter this segment," he says.
Relief to builders, Centre relaxes green norms for high-rises
Jun 11, 2013
MUMBAI: In what will be a big relief to builders in tightly-packed cities such as Mumbai, the environment ministry has done away with green clearances for high-rise buildings based on the width of the roads that they fall by the side of and the distance from fire-stations. It has left it to the state government to makes rules as they deem fit.
Demand high for low-budget rental units
Jun 11, 2013
CHENNAI: Chennai’s rental market witnessed several variations during the Nov 2012-Jan 2013 and Feb-Apr 2013 periods. The rental brackets of Rs 5,000-10,000 and Rs 10,000-15,000 were reported to be the most in demand at 32 and 31 per cent respectively during the Feb-Apr 2013 period.
Multi-storey in high demand in Delhi
Jun 11, 2013
DELHI: Demand for multi-storey buildings in Delhi was recorded as approximately 53 per cent during the Feb-Apr 2013 period, a rise of 2 per cent from the Nov 2012-Jan 2013 period. The growing space crunch in the capital city could be the reason behind the demand for multi-storey units being the most preferred property type across all categories.
Ghodbunder road in Mumbai has good options for realty investment
Jun 11, 2013
MUMBAI: Ghodbunder Road, one of the major roads running through the Thane district, is witnessing a rapid pace of real estate development. This road is several kms long and connects the eastern and the western express highways.
Property deals pick up in TN, register 11% growth
Jun 07, 2013
CHENNAI: After a slump during last fiscal when real estate purchases fell 23.54%, property registration in Tamil Nadu appears to be clawing back with a 11% growth in registrations in April-May 2013.
Mira Road-Bhayandar East witnesses max supply of 2BHK
Jun 06, 2013
MUMBAI: Situated in the Western peripheral area of Mumbai, Mira Road and Bhayandar East are amongst the fastest growing suburbs of the city.

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