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...
  Expanding its global footprints further, Indiabulls Real Estate, a company that stands for excellence and luxury in residential and commercial property development, has teamed up with the...
  India’s leading software services company Tata Consultancy Services has taken on lease around 2.50 lakh sqft of commercial space at Godrej & Boyce's factory premise in Mumbai's...
  The promoter of cash-strapped MBL Infrastructure is qualified to bid for its assets, the Kolkata bench of the National Company Law Board has ruled. The ruling clears the air around the position...
  Sebi, the regulator of the securities market in India, has disqualified BNP Real Estate and Allied Ltd and its 14 former and present directors from the securities market for at least four years...
  In a rare occurrence, the director of a construction company has been sentenced to two years’ simple imprisonment because he failed to give the conveyance of a Ghatkopar building even 21...
  CoWrks, one of the leading players in the segment of shared office spaces, has taken on lease over 2.25 lakh sqft of commercial space across three deals in Mumbai and Gurugram. With this, the...
  If a building surrenders a portion of its plot for road widening reservation and then decides to go for redevelopment, the builder will need to pay just 25% of the premium levied by the BMC for...
  In a landmark order, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has asked a Pune-based developer to pay a compensation of Rs 50,000 along with interest to each of the 15 home...
  The real estate sector in 2018 is again expected to be driven largely by the affordable housing segment as several developers and institutional funds are eyeing opportunities in this space due...
  Dismissing a complaint by some home buyers who had booked flats in a project by Bhagtanis in Powai, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has ruled that in the absence of...
  The joint investment platform of Housing Development Finance Corporation and Abu Dhabi Investment Authority is firming up plan to commit more than $500 million (Rs 3,175 cr) by March to...
  The mega real estate deals that hogged the limelight in 2017 are expected to witness an upward movement in 2018, both in Asia Pacific and India. The volume of transactions in the Asia Pacific...
  Ownership of the Equinox Business Park is about to change hands soon. The party buying this commercial property is the Canadian institutional investor Brookfield Asset Management that will be...
  Lending credence to the fact that celebrities are not above law, the BMC on Monday demolished several illegal structures inside the eight-storey residential building of senior BJP MP and former...
  Housing sales in the top eight property markets for the quarter ended December have increased by 28% compared to the figures in the year ago period, with 51,701 apartments being sold in the...
  As per a new report by the property consultancy Knight Frank, prices in the Indian residential market have, for the first time in many years, fallen in the second half of 2017 by a weighted...
  The affordable mortgage lending business has a new kid on the block in the form of the billionaire Gautam Adani who does not want to be left behind in the matter of the development of...
  In order to get property brokers on board, the Maharashtra Real Estate Regulatory Authority (MahaRERA) is planning to issue a notification, asking over 1lakh property brokers across the state...
  According to a CBRE South Asia report, annual uptake of office space in India surpassed 42 mln sqft in 2017, indicating continued growth of this segment. And, over 50% of annual leasing...
  As per MahaRERA, housing society members who have issues with their builder over redevelopment work cannot seek relief under the Real Estate(Regulation and Development) Act...
  Maharashtra state government is making the move to increase the compensation rate for land acquisition. Land acquired for public infrastructure projects in rural areas will now get an increased...
  In order to shore up civic finances at a time when Pune Municipal Corporation’s income sources are dwindling, municipal commissioner Kunal Kumar has proposed a 15% increase in property tax in...
  Private equity firms can be seen gravitating towards affordable housing and their interest is expected to increase further in the backdrop of the government’s push for this segment and the...
  Actor Shah Rukh Khan’s farmhouse located in Thal village of Alibaug has been provisionally attached by the IT dept under the benami property law and a report has been filed before an...
  Godrej Properties has entered into pacts with three different developers to develop three new residential projects across Bengaluru and Noida. Two of these residential projects are going to be...
  Reeling under the impact of demonetisation and a number of regulatory reforms in the last year, the real estate sector was expecting the Finance Minister to drive its blues away with suitable...
  Holding it accountable for deficiency in service and failure to execute a conveyance deed, and also failure to provide the necessary water connection and other facilities as promised, the...
  Realty arm of the Godrej Group Godrej Properties has been able to sell 2 lakh sqft area in its commercial building at Bandra- Kurla complex in Mumbai for nearly Rs 700 cr so far this fiscal...
  As per an estimate by JLL India, the cumulative net absorption of office space is likely to cross 100 mln sqft by end of 2020 in the top eight Indian cities as the uptake is expected to grow...
  There is some respite for pre-April 2016 borrowers whose home loans rates have not been revised by banks in line with market rates. The Reserve Bank of India has asked lending banks to link...
  The cost of a new residential house includes not just the cost incurred in its construction but also the purchase price of furniture items provided they form an integral part of the property...
  The Maharashtra state government on Wednesday announced a number of incentives intended to attract private players to acquire and develop small parcels of land under the integrated industrial...
  Piramal Finance, a subsidiary of Piramal Enterprises, has formed a separate vertical with the purpose of making investments in affordable and mid-income residential projects in the top metros...
  Singapore sovereign wealth fund GIC and realty major DLF do not want to limit their engagement to just the commercial leasing business, the two are also looking to develop a high-rise...
  International Finance Corporation (IFC), an international financial institution offering investment, advisory, and asset-management services for the growth of private sector in developing...
  Real estate veteran Sanjay Dutt looks set to join the Tata Group’s real estate arm Tata Housing Development Company as its managing director and chief executive. He will be replacing the...
  About 182 persons who had won the Maharashtra Housing and Area Development Authority’s (MHADA) housing lottery in 2015 will need to pay an extra Rs 2 lakh for MHADA’s laxity.   In...
  Blackstone Group, the New York based world’s largest private equity firm looks set to acquire a 49% stake in the office rental business of Indiabulls Real Estate in a $600-650 million deal,...
  The return of end users in certain micro markets of residential real estate and the disappearance of speculators is making the markets in top 7 cities healthier despite the fall in...
  The Maha state government has ordered the BMC commissioner, the Mumbai suburban district collector, and a “competent authority” under Urban Land Ceiling (ULC) Act to initiate action against...
  Wall Street powerhouse Goldman Sachs has come on board the UC-RNT Fund, an investment vehicle sponsored by Tata Sons chairman emeritus Ratan Tata and the University of California, in a $51...
  In three separate orders, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has cracked its whips on three builders because of their failure to provide possession of housing projects...
  As per a survey by the property consultant JLL India, about 4.4 lakh housing units remained unsold in seven major cities at the end of 2017 with Delhi-NCR contributing maximum at over 1.5 lakh...
  The income tax (I-T) department has found that some 447 companies, many of them builders, diverted employees’ tax deducted at source (TDS) for business rather than depositing it with the...
  The Shanghai-headquartered international conglomerate and investment company Fosun Group is looking to acquire a strategic minority stake in realty developer Ahuja Constructions for around Rs...
  The Indian wing of New York-headquartered collaborative work-space major WeWork has acquired nearly 1.25 lakh sqft of office space on lease in Oberoi Realty’s commercial complex Commerz II in...
  The Maharashtra state government is favourably disposed towards the popular demand for waiving property tax for houses with a carpet area of 750 sqt in Mumbai, Chief Minister Devendra Fadnavis...
  The Municipal Corporation of Greater Mumbai, also known as Brihanmumbai Municipal Corporation (BMC), has served a notice to Yash Raj Films for carrying out unauthorised constructions in its...
  The vast unused industrial land available with the insolvent companies can considerably help meet the country’s low-cost housing targets provided the state governments agree, experts said....
  In an unprecedented move, MahaRERA summoned officials from Navi Mumbai Municipal Corporation (NMMC) in January to depose and submit evidence to settle complaints of delayed possession in...
  As per data from Liases Foras Real Estate Rating & Research, the top 8 property markets in tier I cities witnessed an increase in residential sales by 32% from the year ago period to 66,879...
  The Maharashtra State Consumer Disputes Redressal Commission recently ordered Royal Developers to pay Rs 1.1 cr compensation to a Navi Mumbai-based housing society for hardships caused to 35...
  Non-banking finance companies and mortgage lenders that account for the major share of developer loans, are using all the tricks in the marketing and finance trade books to help realtors still...
  The National Company Law Tribunal(NCLT) on Monday passed an order in favour of Mhada, allowing it to take back physical possession of a large tract of land in Goregaon, where rights for a...
  In a major setback for builder HDIL and its subsidiary Guruashish Constructions, Maharashtra Housing and Area Development Authority (Mhada) on Thursday took back part of its 10-acre plot in...
  The Enforcement Directorate made the declaration today that the agency has attached 33 flats of city-based builder Ms Pyramid Developers , worth Rs 462 cr in connection with its money...
  India’s largest housing finance company, HDFC, has increased home loan rates by up to 20 basis points (100bps = 1 percentage point). The reason for upward revision lies in the fact that funds...
  Data from ANAROCK Property Consultants reveal that residential sales across top seven cities during the quarter ended March have risen 10% from a year ago to 49,200 units. This is a clear...
  According to a recent report by the real estate consulting firm CBRE South Asia, office leasing activity across India’s top eight markets increased by 25% in Q1 2018. Approximately 11 mln...
  Close to 25 lakh people living in the state of Maharashtra have registered online for affordable houses under the Prime Minister Awas Yojana (PMAY).   Additional chief secretary...
  India’s office property segment continues to remain the favorite amongst the private equity investors who pumped in of $1.7 billion into this segment in the quarter ended March through ten...
  With the interest for Indian commercial properties on the ascendant amongst the private equity, global sovereign and pension funds, the valuation of office and retail assets is witnessing a...
  Subsequent to establishing  a commercial properties platform with Indiabulls Real Estate, US-based private equity major Blackstone Group has acquired the realty developer’s Chennai...
  Data indicates that homebuyers are returning to the market and the pent-up demand for housing is now getting converted into actual sales. It has been buyers’ market for quite some time, but...
  Bank of India has decided to offer preferential pricing rates to borrowers with good credit scores for home loans of Rs 30 lakh and above, the state-run lender said.   Customers with...
  The state government on Thursday made public its Mumbai Development Plan 2034, when the same was published.  Municipal Commissioner Ajoy Mehta said, “We are taking the last steps to bring...
  It is for the first time that the Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued recovery warrants against 12 real estate developers. The authority issued the warrants...
  Following complaints from real estate developers on the matter of the proposed premium to be levied in exchange for the extra FSI, the BrihanMumbai Municipal Corporation (BMC) has agreed to...
  Owners of properties being acquired to make way for the Metro 3 corridor seem to have hit jackpot. The Mumbai Metro Rail Corporation (MMRC) is offering them eye-popping amounts under the...
  Occupiers from upcoming sectors like e-commerce and co-working can now be seen registering incremental growth in leasing office space. While IT/ITeS, the largest office leasing sector for five...
    For its subsidiary Arihant Abode, the realty developer Arihant Superstructures has obtained construction finance worth Rs 250 cr from Housing Development Finance Corporation. The company...
    The demand for co-working spaces or shared offices is on the rise across the country and as per an estimate about 13 million people, equivalent to current population of India’s Silicon...
  The BMC recently uploaded its new policy on dilapidated buildings on its website, which civic officials say will give a boost to the redevelopment process. Disputes between tenants and owners...
  Increasing the loan limits for priority sector lending (PSL) by the Reserve Bank of India is good news for first-time homebuyers as they would be able to avail higher amount of loans on better...
  Private equity fund Carlyle is looking to sell its entire stake in PNB Housing Finance in a deal that is expected to give a return that’s many more times the money it invested three years...
  The Bombay high court on Monday asked the state government to explain the regulatory mechanism the state has put in place to address complaints from buyers who have bought properties in...
  In what could be one of the most expensive residential apartment transactions to happen in the country, RPG Group chairman Harsh Goenka has bought a 5-bedroom luxury sea-view apartment in...
  BMC informed the Bombay high court on Friday that 45% of the flats inspected in the posh Ashok Towers in Parel show flouting of the building norms.  “The BMC will have to take action in...
  Maharashtra's realty sector regulator MahaRera has questioned the logic behind government decision to treat homebuyers as financial creditors by empowering them to drag their builders to...
  With the Reserve Bank of India (RBI) raising key interest rates in its monetary policy, it was quite expected that other banks will follow suit. On Monday, Axis Bank raised its one-year...
  The Reserve Bank of India’s decision to increase annual family income limit for priority sector lending is expected to enable more beneficiaries to avail such loans for housing.   Late...
  Housing Development Finance Corp (HDFC) and Kotak Mahindra Bank are vying with each other for a controlling stake in PNB Housing Finance as both are looking to gain wider coverage in a mortgage...
  National Investment and Infrastructure Fund (NIIF), a fund created by the Government of India for enhancing infrastructure financing in the country, is in talks with HDFC Capital to invest in a...
  Today is the last day for the property owners in Pune to pay property tax for the first half on current fiscal to avoid 2% penalty that would be charged from July 1 for non-payment of tax on...
Prospective home buyers are coming up with innovative ways to circumvent paying the 12% GST levied on under-construction flats. According to builders, GST on under-construction projects is one of...
  The BMC has issued a notice to the famous Bollywood actress Priyanka Chopra, owner of a commercial premise at Oshiwara in Andheri (West), for illegal construction in the space that she has...
  The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued letters to 85 local authorities, including collectors and municipal commissioners, in the state, asking them to survey...
  The state forest department has issued a notice to Salman Khan and his family for carrying out illegal construction at his farmhouse in Panvel. All family members of the Bollywood star are...
  Piramal Realty, the city-based real estate development arm of Piramal Group, has launched a 70-storey tower called Piramal Mahalaxmi in the tony South Mumbai area. The tower will have luxurious...
  Even though global institutional investors’ interest in Indian real estate continues to show an upward trend, the latest June quarter has shown a decline in their investment due to delay in...
  Government of Singapore’s sovereign wealth fund GIC is in final stages of talks to acquire up to 50% in Provenance Land that owns India’s first Four Seasons hotel and an under-construction...
  Chief Minister Devendra Fadnavis said that the coastal zone management plan(CZMP) of Mumbai and Navi Mumbai is expected to get the final approval from the Centre in 15 days' time. The...
  Temasek-owned real estate asset manager Mapletree Investments, GIC of Singapore, Blackstone and Brookfield Asset Management are competing to acquire SP Infocity, a 2.7 mln sqft office park in...
  According to a recent ruling by the Maharashtra Real Estate RegulatoryAuthority (MahaRERA), homebuyers seeking interest on delay by the real estate developer in granting possession need to have...
  According to a recent report published by Colliers Research-RICS South Asia, Indian real estate has attracted investment transactions worth $2.4 billion in the first half of 2018. The...
  The state housing authority (Mhada) is getting ready to approve two proposals of Shatabdi society at Kannamwar Nagar, Vikhroli, and Orion society in Charkop to redevelop their properties...
  Colliers International reports that Indian commercial real estate market registered a robust growth with total space uptake of 12.6 mln sqft in the second quarter of 2018.    Bengaluru...
  With the Maha state cabinet on Tuesday approving the addition of a new chapter to the Maharashtra Cooperatives Act, 1960 to deal exclusively with issues related to co-operative housing...
  According to data from Cushman & Wakefield, real estate brought in private equity investments worth more than Rs 10,080 cr during the latest quarter ended June, driven by institutional...
  The state government of Maharashtra today granted its approval to a proposal for roping in private landowners to collaborate with state-run housing agency MHADA to implement the Pradhan Mantri...
  Dawood Ibrahim’s three-storeyed Masulla building in Mumbai’s Pakmodia Street went under the hammer recently, and was ultimately bought by the Saifee Burhani Upliftment Trust (SBUT) for Rs...
  City high court recently upheld the state government’s directives to prohibit construction on hilltops and hill slopes and expected everyone concerned to conform to a 100 feet no-development...
  With the developer community making efforts to fit their projects into the "affordable housing" category, the average sizes of apartments promoted by the them have shrunk in all major cities in...
  India’s dedicated bankruptcy court would like the legal impediments to liquidation or loan-recovery proceedings banished by setting aside property attachment claims of state-run utilities or...
  An owner of a flat is not entitled to recover the cost of repairs to his flat from the society, the Bombay high court has said. Justice Ramesh Dhanuka struck down a 16-year-old order passed by...
  The Toronto headquartered financial services major, Brookfield Asset Management Inc, with a robust commercial real estate portfolio in India, is now betting big on the residential development...
  The state government on Tuesday issued a notification that gives local self-government bodies the right to decide the fee they would charge for regularizing unauthorized constructions in civic...
  Lavasa Corporation Ltd, a subsidiary of the HCC Real Estate Ltd, will face insolvency proceedings with the NCLT on Thursady admitting plea of lenders of the debt-ridden realty firm. The company...
  The much-awaited Development Plan-2034 will take effect from Saturday, though only partially.  This new blueprint was supposed to have come out five years back and was originally meant to be...
  The Maha state government has come out with a notification that gives municipal corporations a free hand in deciding fees for compounding illegal structurers as current fee structure is too...
  It took HDIL all of a month to come round to Slum Rehabilitation Authority’s (SRA) terms and conditions with respect to its 11 lakh sqft commercial office project in BKC, worth Rs 2,600 cr....
  The apex court on Wednesday lifted its August 31 stay on construction in Maharashtra. The stay was imposed because the state government had failed to inform the apex court that it had put in...
  As per builders and architects, there exists a lot of confusion over implementation of the new development control regulations (DCR 2034) that has led to construction approvals coming to a...
  The BMC is deliberating over issuing stop work notices to some 40 builders found to be not following the debris dumping conditions. In the last six months, the BMC has inspected 134 building...
  At its 14th annual general meeting (AGM), Reliance Communications (RCom) chairman Anil Ambani said goodbye to its telecom business, owing to intense cut-throat competition in the sector....
  Today we might witness India’s first real estate investment trust (REIT) coming to life almost four years after the rules were notified and the government has been making efforts over the...
  The Maharashtra Real Estate Regulatory Authority (MahaRERA) has ordered promoters Bhoomi & Arcade Associates to return the money to five homebuyers who booked flats in their project Acropolis...
  The Maharashtra state government has decided to let go its claim over a portion of GlaxoSmithKline Pharmaceuticals' prime 60-acre industrial plot in Thane that it wanted to use for...
  The Maharashtra government informed the Bombay High Court Thursday that it is employing the satellite mapping technology to help find out illegal constructions in major...
  Internet of Things (IoT) and Artificial Intelligence (AI) are finding possible use in the real estate world too with the builders increasingly deploying these in addition to home automation in...
  Data from the property consultant CBRE South Asia show commercial leasing activity crossing 32 mln sqft, up 7% from the year ago period, across India’s top 8 property markets in the first...
  Residential property sales in the second quarter appreciated 15% year-on-year across India’s top seven markets, driven primarily by the demand for affordable homes. Inquiries regularly ending...
  After the apex court earlier this month made it obligatory for the real estate firms to display approved building plans on project sites, MahaRera on Monday issued a circular in this regard...