Mumbai

Mumbai

The Reserve Bank of India governor Urjit Patel on Wednesday made the case for a separate single window mechanism for clearance of affordable housing projects as a number of them get stuck at state...
Minister of state for home Ranjit Patil has ordered an inquiry by a principal secretary on charges that Larsen & Toubro (L&T) misused land near Paspoli in Powai area of Mumbai, meant...
The deal between the country's largest realty developer DLF and Singapore's sovereign wealth fund GIC for a 40% stake in DLF Cyber City Developers (DCCDL) is in the final stages of...
Marking one of the largest front-office commercial transactions in terms of space in the city so far in this year, Swiss multinational pharmaceutical major Novartis’ India arm has entered into an...
Prompted by the impressive growth of e-commerce transactions and national rollout of GST by July 1, Deutsche Post DHL Group wants to expand its warehouse capacity in India. “We see...
State RERA chairman Gautam Chatterjee on Saturday made it clear to the builders that after August 1, they would be required to cite their registration numbers in advertisements. According to one...
The central government appears to be quite serious about its “Housing for All by 2022” mission, and it has been constantly pushing this agenda by taking steps that will help achieve the...
The Maha state government on Tuesday scrapped the special planning authority status provided to Lavasa Corporation for development of the hill city Lavasa, near Varasgoan dam in Pune and about 220km...
With not much sale of properties taking place, builders are now thinking of strategies to bring the homebuyers back into the market. Right-sizing and right-pricing of the offerings to suit the home...
In order to realize its ‘Housing For All by 2022’ mission, the government is doing all it can to promote more and more projects in the affordable housing segment. Steps like grant of...
Is the much dreaded underworld trying to come back to life in Mumbai? There is evidence to show that this might be true. Recently, a 40-year-old Juhu-based developer approached the city police after...
RERA in its undiluted form is intended to bring in the much needed transparency in real estate sector. The new regime makes it difficult for the builders to fool the gullible homebuyers. Not only the...
With the implementation of Goods & Services Tax (GST) and Real Estate (Regulation & Development) Act, 2016 (RERA) and delays in delivery becoming commonplace, homebuyers are shying away from...
According to a PropTiger.com report, the top nine cities of India witnessed residential sales going down by 4% to 53,352 apartments in the quarter ended June, compared to the year ago period. The...
The environment cell recently set up in the Brihanmumbai Municipal Corporation (BMC) is empowered to grant environment clearance (EC) to all real estate projects measuring 20,000 square metres to...
As per a report released by Liases Foras, a real estate rating and research firm, the Mumbai Metropolitan Region (MMR) witnessed its highest sales of 15,848 apartments in the last seven years during...
Monsoons can be fatal for the Indian roads---more so in MMR (Mumbai Metropolitan Region) administered by the MMRDA (Mumbai Metropolitan Region Development Authority), an urban conglomeration of eight...
The income-tax appellate tribunal (ITAT) has overruled the tax department’s view that a villa in Dubai gifted to Bollywood actor Shah Rukh Khan some ten years ago was a facade to evade income tax....
In the state of Maharashtra, it will now become possible for the real estate developers to get occupation certificate (OC) within eight days, building commencement certificate within 30 days and...
  With not many residential project launches happening subsequent to implementation of the Real Estate Regulatory Authority(RERA) from May 1, brokers are planning to shift their focus on rental...
Ownership of Ruparel House, a Malabar Hill bungalow that often hosted pre-Independence meetings of the Indian National Congress and has seen the post-Partition refugee influx into the...
  An all-India homebuyers' pressure group, Fight For RERA, has knocked on Prime Minister Narendra Modi’s door seeking an amendment to the Insolvency & Bankruptcy Code 2016 to give priority...
As per a recent JLL report, Mumbai figures amongst the top five cities globally that are expected to witness the maximum addition to their office space stock in the next 18 months. Mumbai figures...
  The demand for commercial spaces and the occupier’s interest in them continues unabated as can be seen from the rise in precommitment levels in key office markets across India. The...
CBRE South Asia’s latest Global Prime Office Rents survey shows New Delhi's Connaught Place as the world's 10th most expensive office location, commanding an annual prime rent of $111 per...
  Capacit’e Infraprojects, the company that has bagged the contract to build the Trump Tower in the city, created history of sorts on Friday in the stock market. The company’s Rs 400 cr...
  Maharashtra is on the path to become the first state in India to form a conciliation committee under the new Real Estate (Regulation and Development) Act (RERA) that will have representation...
  Mahindra Lifespace Developers and the World Bank Group member International Finance Corporation (IFC) have come together in a partnership with the purpose of developing strings of industrial...
  More than 80% of the PE capital contributors in 2017 were long-term sovereign and pension funds  Low risk appetite among investors trigger shift in investments’ share from the...
  Indian real estate is attracting new new set of foreign institutional investors even as pension funds and sovereign wealth funds from countries such as Canada, Netherlands, Qatar and Singapore...
  The NY based multinational private equity (PE) firm Blackstone Group is in the process of acquisition of Anand Jain-promoted Urban Infrastructure Opportunities Fund (UIOF) that also counts...
  Motilal Oswal Real Estate (MORE), the real estate wing of Motilal Oswal Private Equity (MOPE), has raised over Rs 1,000 cr for its third real estate fund meant for investment in structured debt...
  Pune’s residential market seems to seems to have seen very little impact of demonetization if the 1H17 sales figures are anything to go by. Although the city’s apartment sales had remained...
  Buyers of residential properties who have received their payments back from the builders because the projects got shelved due to one reason or another, now find that they have to pay tax on the...
  The famous actress from the hills Kangana Ranaut has purchased a new property in the Pali Hill area of the city for a whopping Rs 20 cr approximately.  The property is located on the Nargis...
  Lakeview Developers run by the Hiranandani Group has been asked by the Bombay High Court on Tuesday to develop some 2,398 affordable houses in Powai before June 1, 2021, as per the undertaking...
  UK-based luxury brand designer Martin Kemp, the name behind Ten Trinity Square in London, Hugo Boss and Yves Saint Laurent boutiques, makes its entry into the Indian luxury market with the...
  Acting on a tip, the Thane police arrested a Mumbai businessman who was about to fly away with the money of 500 flat buyers, late on Monday night. Bhupatbhai Ravjibhai Lukhi’s Mercedes was...
  As per CRISIL’s projection, the demand for residential property is unlikely to revive in the next 12-18 months because end-users are not coming forth and the presence of investors in the...
  Reforms and new laws in the real estate secor in the recent past are leading to consolidation in the industry. A number of  smaller realty developers can be seen monetizing their land parcels...
  Indian real estate, especially the commercial segement, continues to hold the interest of global as well as the domestic institutional investors, as can be seen from the investments made so far...
  Taking stand with homebuyers, the Maharashtra Real EstateRegulatory Authority (MahaRERA) has asked the city-based builder Kailash Patil of Trinity Constructions to pay 10.15% interest to three...
  In the last couple of years the private equity (PE) firms didn’t seem much interested in retail real estate, but this year has seen a turnaround in their perception and the PE firms have...
  Responding to the BrihanMumbai Municipal Corporation’s (BMC) notice for allegedly carrying out illegal constructions on his properties, Amitabh Bachchan's lawyer on Friday said that his...
  The Mumbai-based real estate developer Arihant Superstructures is planning to invest about Rs 4,000 cr over the next six years on construction of its 15 ongoing projects in Navi Mumbai and...
  Hearing on a clutch of petitions questioing the constitutional validity of provisions of the new real estate regulatory law began in the Bombay high court on Monday.  The developers have...
  The Government of India enacted the Real Estate (Regulation and Development) Act 2016 on 26th March 2016 and put all its provisions into effect, from May 1, 2017. The law aims to create a more...
  With the central government trying to push affordable housing, this segment of the residential real market is expected to be the next growth driver of Indian realty. An increasing number of...
  The Maharashtra Real EstateRegulatory Authority (MahaRERA) has tuned down complaints filed by six home buyers against Terrain Infrastructure Pvt Ltd on the ground that they did not share the...
  The Mumbai wing of the Mhada housing board conducted a lottery for 819 apartments at Rangsharda Auditorium, 10 AM today. The lottery could be witnessed live on the Mhada’s home site and it...
  Akshay Kumar, known for his fondness for acquiring property, and quite possibly having one of the largest, most varied real-estate portfolios of all the Bollywood’s big names, recently added...
  In its bid to to acquire land and properties for development of affordable housing in future, Mhada’s efforts could be severely crippled by the state government plan. The state law and...
  The Knight Frank Prime Global Cities Index Q3 2017 shows that the declining trend in luxury home prices across key Indian metros earlier this year has further intensified what with the prices...
  Data from various agencies reveal no clear link between demonetisation and movement in real estate prices, dispelling the notion that that realty prices took a hit...
  Through an ordinance on Wednesday, the government has tried to make sure that wilful defaulters and promoters of companies in loan default over an extended period of time are not able to get...
  The Mumbai-based business conglomerate Shapoorji Pallonji Group is looking to invest about Rs 25,000 cr mostly in big-ticket infrastructure projects, creating around one lakh jobs in the next...
  Homebuyers are increasingly going for ready-to-move-in apartments than under-construction homes as instances of delays and defaults by the builders seem to have become the...
  The BMC carried out demolition of unauthorized interior work in the Santacruz area last week, one of which happened to be that of veteran actor Anil Kapoor’s 2,500-square-foot office...
  Data from Liases Foras Real Estate Rating & Research shows new home sales in the country’s top eight property markets increasing 5% on year in the quarter ended September, driven by a 24%...
  Accenture India and digital services firm Atos Origin have taken up two lakh sqft of commercial space each at K Raheja Corp’s IT park Gigaplex in Navi Mumbai, on lease.    According...
  New York-based shared workspace provider WeWork’s India arm has taken up nearly 1.7 lakh sq ft of office space on lease in two separate transactions in...
  Investments in retail real estate in tier II and tier III cities has increased and the momentum gained exceeds that in the metros, according to property consultant firm JLL India. "With...
  A wholly owned subsidiary of Reserve Bank of India (RBI) and regulator of the housing finance companies, the National Housing Bank is pitching with the authorities for bringing down the...
  RERA has undoubtedly made India’s real estate market advance towards enhanced transparency. After the act was declared, Maharashtra was the first off the block to adopt it by launching a...
  Non-banking finance company L&T Finance Holdings has extended a loan of Rs 300 cr to realty developer Satellite Group for its low-cost housing projects in the city. The funding for nearly a...