Latest Realty News

Cumulative impact of increase in ready reckoner rates in Maharashtra
Jan 30, 2014
MUMBAI: The Maharashtra state government hiked the Ready Reckoner valuations of immovable properties in Mumbai, substantially for 2014, though property prices have not grown as much. How does this affect the common house purchaser or house seller?
Worli society gets construction area 9 times the plot size
Nov 26, 2013
MUMBAI: The state Coastal Zone Management Authority has cleared floor space index (FSI) of 2.5 for the redevelopment of Worli’s Shivshahi housing society, part of a Mhada layout.
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.
Mumbai govt to help acquire land for cluster redevelopment
Nov 25, 2013
MUMBAI: Occupants of unauthorized flats and shops will be legally rehabilitated as part of the state government new cluster redevelopment policy. Critics said this sop is a virtual indictment of the government, which has failed to curb illegal constructions.
Is Mumbai a buyer’s market?
Nov 25, 2013
MUMBAI: Mumbai’s real estate segment has historically been red hot, something that is the aspiration of millions. The island city with less supply and more demand and the ever increasing migration, only meant that even if the market deviated from the conventional wisdom of economics in demand and supply dynamics, it still would be a sellers’ market. The price index, demand-supply gap, inventory and all other indicators collectively lent credence to this school of thought. Moreover, the island ci
BMC website with approved building plans
Nov 22, 2013
MUMBAI: The BMC is going ahead with its plan to put all building permissions on its website, a move that would have rendered meaningless the State Information Commission’s earlier order restricting access to the plans.
Campa Cola razing to go ahead despite rains
Nov 21, 2013
MUMBAI: The civic body has resolved to commence the demolition of the illegal flats in Campa Cola compound after May 31 irrespective of the monsoon. Still, the society residents are clutching at straws, hoping to exhaust all legal options before that day arrives.
Proper notice must to hike property tax
Oct 10, 2013
MUMBAI: The Brihanmumbai Municipal Corporation cannot hike property tax without serving proper notice on the property’s owner or occupier, the Bombay high court has said. Eleven years after the BMC asked some Girgaum residents to pay extra tax, Justice S S Shinde came to their aid and said the pasting of notice on the property “cannot be accepted”.
Now, BMC to form buildings safety panel
Oct 09, 2013
MUMBAI: In the wake of the building collapse in Mazagaon, the BMC will form a standard technical advisory committee (STAC) to monitor building safety in a scientific manner. This committee will function on the lines of the civic body’s STAC for roads and will play a crucial role in deciding the nature of dangerous categories for dilapidated buildings in the city.
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
Now, apply online for deemed conveyance in Mumbai
Oct 03, 2013
MUMBAI: Cooperative housing societies will be able to file online applications for deemed conveyance of their properties from October 10, said a Member of Parliament.
Building terrace must be open to all residents: Bombay High Court
Sep 30, 2013
MUMBAI: No resident can be allowed to obstruct the BMC’s move to ensure access to the building’s terrace to all residents and for emergencies, the Bombay high court has ruled.A division bench of Justices S C Dharmadhikari and Gautam Patel dismissed a petition filed by a resident of a building in Grant Road who had challenged the notices issued by the municipal corporation.
Social infrastructure for quality life
Sep 27, 2013
MUMBAI: Buying a suitable house that fits in their budget is no doubt very important for home buyers. However, equally vital are the educational, health, transport, security, cultural and recreational facilities for quality living, which range from grocery stores and markets to banks, schools, hospitals, theatres, restaurants, clubs, religious places, etc. “Buyers have always had a holistic approach and they prefer to have schools, hospitals, shopping complexes, entertainment centres, etc., in c
35 illegal floors of Campa Cola may be razed on Oct 3
Sep 27, 2013
MUMBAI: The last vestiges of hope for embattled residents of the upscale Campa Cola society in Worli appears to be lost. The BMC’s building proposal department has “on legal grounds” rejected their proposal to regularize those sections of the society that fall within the permissible floor space index (FSI) limit. The BMC plans to raze 35 illegal floors across seven buildings on October 3, instead of the earlier plan of October 2 owing to Gandhi Jayanti.
Experts say pay VAT only if sale deed mentions it
Sep 27, 2013
MUMBAI: The SC was hearing 26 appeals against VAT on sale of flats, of which 12 were from Maharashtra and the rest from Karnataka while upholding the states’ right to impose VAT. The verdict means flats sold since July 1, 2006 will be liable for payment of the tax, unless the building was issued an Occupancy Certificate before the sale agreement.
Strong fundamentals behind more launches in Mumbai
Sep 20, 2013
MUMBAI: At a time when the economic slowdown has severely affected new launches in many property markets across India, Mumbai has seen the maximum launches in the first half of 2013. This shows without a doubt that the fundamentals of the city are still strong, making it a very resiliant property market. Even the NRIs prefer to bet on a matured market like Mumbai, compared to any other emerging market, due to the fact that the island city is the financial capital of the country. The overall real
BMC property tax collection system down as deadline nears
Sep 18, 2013
MUMBAI: The property tax payment deadline is just 15 days away, but the BMC’s collection system has been on the blink since a week, hugely inconveniencing Mumbaikars. It may take a few more days to be up again.
Does Vasai-Virar have the potential to become an independent city?
Sep 16, 2013
MUMBAI: With a corporation area of roughly 383 sq km and another 500 sq km of Taluka area, the Vasai-Virar region is being touted to become a city in itself. However, does having a large area alone suffice to convert a region into a self-sufficient city? It takes proper social and physical infrastructure along with well-developed connectivity to render a locality self-sufficient. With the inception of the Vasai-Virar Municipal Corporation (VVMC) in 2012, the Vasai-Virar region holds huge potenti
Mumbai’s realty sees no big price cuts soon
Sep 12, 2013
MUMBAI: In early 2013, a central Mumbai realtor’s son was set to join his father’s business. Then, the slowdown set in. The family patriarch asked the youngster to go abroad for higher studies. “For 8 years, real estate provided stability and growth. Now, it’s struggling.
Moving to suburban Thane for a quality life
Sep 09, 2013
MUMBAI: A city apartment blocked by high-rises and smoke screen from the constant construction frenzy and congested streets, or a spacious suburban layout staring into a lush green cover with a slice of cosmopolitan urban lifestyle.
Mumbai’s long wait to replicate Manhattan, gets longer
Sep 07, 2013
MUMBAI: Perhaps no other ambitious urban infrastructure project that has been touted as a game changer, has waited for more than 30 years, yet has had no takers, with a future that is delayed, if not denied. The Mumbai Trans Harbour Link (MTHL) project has been under consideration for the last 30 years to develop the island city the way Manhattan in the US has been developed, reduce traffic congestion and grow the area surrounding Navi Mumbai.
Mumbai property rates may remain subdued in near future
Sep 06, 2013
MUMBAI: Real estate developers in Mumbai are finding it difficult to increase property prices because of rising inventory levels, subdued demand and uncertain macroeconomic environment, says credit rating agency Icra.
New land bill may hit infra projects in Maharashtra
Sep 03, 2013
MUMBAI:Many infrastructure projects and development may come to a standstill in the state with the Lok Sabha clearing the Land Acquisition, Rehabilitation and Resettlement Bill, 2011.

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