BUSINESS
New players have entered Mumbai real estate market and we welcome their presence: Abhishek Lodha
The real estate firm's MD said that Lodha’s market share in Mumbai is at around 10% and the market share of the top five developers in Mumbai is still in the mid-20s
BUSINESS
Mumbai real estate market records 9% rise in property registrations this month
Mumbai real estate update: Most property buyers in April 2024, were millennials or individuals aged 28-43, accounting for 37% of the total share.
BUSINESS
MahaRERA tells developers to declare parking space details to homebuyers
MahaRERA said that it has got several complaints with regards to parking spaces sold and allocated by the developers to homebuyers.
BUSINESS
Delayed possession: Can homebuyers claim interest if date of possession not mentioned in agreement?
Homebuyers are eligible for refund with interest under section 18 of the Real Estate Regulatory Act (RERA) 2016, in case of delayed possession.
BUSINESS
MMR records 60,719 home transactions valued at Rs 54,239 crore in Q1CY24; Thane, Dombivali top choices
In MMR, including Mumbai real estate market, micro-markets like Virar West, Ulwe, Kandivali West, and Badlapur East reported around 5,000 residential transactions valued over Rs 2,400 crore.
BUSINESS
Pune real estate market reports 52% jump of property registrations in March
Pune real estate market: In FY24 overall, 146,924 properties were registered in Pune district and stamp duty collection stood at Rs 5,785 crore.
BUSINESS
Real Estate Developers Inflating Pre-Sales Figures: The story behind the numbers
Pre-sales occur when homebuyers reserve a property unit by paying a token amount to the developer. However, the numbers touted by developers often hide a complex reality.
BUSINESS
MahaRERA directs L&T to deduct only 2% while terminating booking of NRI homebuyer
The state real estate regulator also critcised the would-be buyer for not meeting payment obligations despite repeated reminders.
BUSINESS
Wellknown Polysters Chairman Anil Gupta buys 2 apartments worth Rs 270 crore in South Mumbai
This is one of the biggest residential deal in residential segment of Mumbai real estate market in 2024. In 2023, deal worth Rs 252 crore was reported in the same building.
BUSINESS
K Raheja Corp purchases SoBo Central Mall in South Mumbai for Rs 476 crore
The Sobo Central mall was run by Future Group Promoter Kishore Biyani's firm, and was opened in the late 1990's. Named as Crossroads Mall, it was one of the preferred destination for shopping and socialising at the time
BUSINESS
Finolex Industries sells leasehold rights for Rs 470 crore near Pune
Terravista Developers plan to construct a data centre on the land and the MIDC has given approval for the same.
BUSINESS
MahaRERA orders real estate developer Godrej to refund part of forfeited amount to homebuyer
According to experts, the judgment can lead to more real estate developers facing similar refund situation where the amounts forfeited on cancellations of bookings have exceeded the legally permissible limit.
BUSINESS
RBI repo rate: Developers hope for rate cuts in H2, await revival of sales in affordable segment
A relaxation in key policy rates is expected to boost housing sales in the Mumbai real estate market as well as in other metro cities
BUSINESS
Delayed possession: Homebuyer can take possession and later claim for interest from developer, says Bombay HC
According to the RERA Act, 2016, homebuyers are entitled to a refund/interest if they wish to exit the project where the possession is delayed or where the homebuyer takes possession after delay by the developer
BUSINESS
Mumbai property registrations rise 8% in March; ready reckoner rates unchanged for FY25
Similarly, the stamp duty collections from property registrations in Mumbai real estate market, fell down by 8 percent to 1,126 crore in March 2024 to Rs 1,226 crore in March 2023, according to Maharashtra government data.
BUSINESS
Dosti Realty plans IPO to fund expansion
Dosti Realty Limited, active in the Mumbai real estate market, plans to invest the money raised from the IPO towards business expansion and utilise the money for repaying debt. Its expansion plans include a foray into warehousing.
BUSINESS
Electoral bonds: Top real estate developers donate over Rs 630 crore to parties
Bharatiya Janata Party was the biggest beneficiary with over Rs 314 crore in donations, India National Congress received about Rs 98 crore. BRS got over Rs 90 crore and TMC received Rs 41 crore.
BUSINESS
Rekha Jhunjhunwala purchases Rs 11.76-crore apartment in South Mumbai
Jhunjhunwala paid over Rs 59 lakh for stamp duty and registration charges for the apartment in Walkeshwar area of Mumbai real estate market
BUSINESS
Pune real estate market sees 23% YoY increase in registrations in February 2024
Pune property registrations: In February 2024, registration of residential units priced between Rs 50 lakh and Rs 1 crore was the highest, comprising 32 percent of all housing transactions
BUSINESS
Can South Mumbai commercial real estate market catch up with BKC with infra boost?
Mumbai real estate: South Mumbai, or Sobo, real estate market has over the last five to 10 years lost it prominence owing to dearth of Grade-A office space except for the few at Nariman Point. But will the upcoming infrastructure projects like Mumbai Coastal Road and Mumbai Metro-3 give a boost to the real estate market in Sobo?
BUSINESS
HNIs line up to enquire about Amitabh Bachchan's neighbour's bungalow auction in Mumbai
Deutsche Bank India is auctioning the bungalow next to Amitabh Bachchan's bungalow. Jalsa. the in Juhu area of Mumbai at a reserve price of Rs 25 crore. The auction is scheduled for March 27.
BUSINESS
Motilal Oswal Financial Services MD Ashish Gumashta purchases Rs 36 crore apartment in Mumbai's Bandra
Bandra micromarket is one of the hottest in the Mumbai real estate market, and also has reported several high value deals. The area, also known to house several Bollywood stars, is known for having property value as high as Rs 1.50 lakh per sqft
REAL-ESTATE
Living next door to Amitabh: What it would cost you to be neighbours with the Bachchans
Deutsche Bank has put the bungalow under auction with a reserve price of Rs 25 crore. The carpet area of the bungalow measures 1,164 sqft along with open space of 2,175 sqft.
BUSINESS
Success rate of conciliations between homebuyers & developers is around 50%, says MahaRERA
According to the RERA Act, MahaRERA is required to facilitate amicable conciliation of disputes between developers and homebuyers through dispute settlement forums set up by the consumer or promoter associations.
