BUSINESS
Mumbai’s May property registrations down 3 percent on year, 9 percent on month: Maharashtra data
While overall registrations dipped in May, the strength in daily sales with over 308 units registered per day and rising revenue clearly reaffirmed the robustness of Mumbai property market.
BUSINESS
MHADA Lottery 2023: More than 16,000 applications for 4,083 Mumbai homes in a week
The apartments are priced between Rs 24 lakh and Rs 7.57 crore, ranging from 200 sq ft to 1,500 sq ft. The last date for submission of application is June 26. The results of the lottery will be announced on July 18, 2023.
BUSINESS
Mumbai cluster development policy: Maharashtra govt announces 50% premium waiver for 1 year
This will boost redevelopment of old and dilapidated buildings in Mumbai city, Chief Minister Eknath Shinde said
BUSINESS
Maharashtra does away with free housing for slum dwellers, to charge Rs 2.5 lakh
The decision to charge Rs 2.5 lakh as construction cost will not burden slum dwellers as they will now receive assistance from the Pradhan Mantri Awas Yojana scheme. It is expected to benefit over 1 million families residing in slums, say officials. The move comes ahead of the civic, Lok Sabha and state elections next year.
BUSINESS
Oberoi Realty's second mall in Mumbai expected to open in mid-2024
According to a Motilal Oswal report, it has the potential to generate annual rents of Rs 250 crore
BUSINESS
MC Explainer: Why MHADA lottery 2023 in Mumbai has few options for families with annual income above Rs 9 lakh
The Authority has been focusing on providing affordable housing to those belonging to the low-income group and economically weaker sections.
BUSINESS
MC Exclusive | Plans to bring debt down by 90% in 3 years, open to explore stressed projects: Dhaval Ajmera
The company is looking to invest Rs 100 crore-Rs 300 crore in redevelopment, slum rehabilitation and stressed real-estate projects, Dhaval Ajmera, Director, Ajmera Realty and Infra, said.
BUSINESS
MHADA lottery 2023: 4,083 apartments on sale in first lottery in 4 years for Mumbai starting at Rs 24 lakh
At Rs 7.52 crore, the costliest apartment available is located in Tardeo area of South Mumbai with a carpet area of 1,500 sq. ft.
BUSINESS
Homebuyers at Shapoorji Pallonji project hit Twitter over delay in construction
Started by Nirmal Lifestyle in 2009, the project stalled, and was sold off to Ricardo Constructions of Shapoorji Pallnji in 2019. The latter promised possession by 2021, but failed to do so.
BUSINESS
Mumbai developers seek relaxation on govt charges for over 100 delayed projects approved in 2021
Developers say they had paid the premiums upfront during the 50 percent waiver on charges announced by the state government in 2021; projects were delayed due to various reasons that were not in the hands of the developers.
BUSINESS
Mumbai-based Dosti Realty forays into Pune market, to construct over 1 million sq ft
The builder is eyeing a topline of Rs 1,100 crore with its Dosti Greenspaces project in Hadaspsar; in talks to commit to more projects.
BUSINESS
MC Exclusive: CapitaLand to deploy Rs 4,500 cr over next 6-7 yrs, foray into Indian tier-2 cities
The company also plans to look at Cognizant’s proposed sale of assets when it comes up
BUSINESS
CapitaLand receives 80% leasing commitments for tech park in Pune
Overall, CapitaLand has planned the development of 3 million sq ft construction in the International Tech Park in Pune. Of this, 1.5 million sq ft is ready to move. The 16.5-acre IT campus is being developed for S $311 million, the company said
BUSINESS
MC Explainer: Can homebuyers in Mumbai legally convert two apartments into jodi apartments or duplex?
Yes, they can, provided proper permission is taken from the BMC by submitting revised plans during construction.
BUSINESS
Maharashtra plans deemed conveyance for homebuyers awaiting land ownership
In cases where the developer has not transferred ownership of the land and buildings to the housing society, the government is considering issuing deemed conveyance.
BUSINESS
Six years of MahaRERA: 41 lakh houses under construction in Maharashtra, says chairman
The MahaRERA chief said there are 1.6 crore citizens waiting for possession of these houses, which are being built with an investment of Rs 14 lakh crore.
BUSINESS
Maharashtra govt to frame policy on stalled real estate projects, gives push to self-redevelopment
Single window will be created in Mumbai for self-redevelopment, and applications will be processed within three months. Meanwhile, NAREDCO Maharashtra has welcomed the move by the govt.
BUSINESS
MC Exclusive: MahaRERA may suspend registration of over 500 projects for non-compliance
According to the Maharashtra Real Estate Regulatory Authority, more than 500 projects registered in January 2023 have not uploaded quarterly progress reports
BUSINESS
MC weekend guide: Are New York-style loft apartments the future of Mumbai real estate market?
In the last couple of years, at least three buildings have come up in the Mumbai Metropolitan Region with the option of a loft apartment.
BUSINESS
MC Exclusive| Avighna Group to invest Rs 1,000 crore for two luxury home projects in Mumbai, foray into UK market
The company plans to focus on the residential luxury segment in prime locations of Mumbai and is open to the redevelopment of old buildings in Mumbai.
BUSINESS
MC Exclusive | Aim to invest Rs 2,500 cr in FY24; focus on Mumbai, Pune & Bengaluru: Lodha Group MD
Macrotech Developers believes in diversifying across the affordable, mid and luxury housing segments, and believes that India will see a housing boom over the next 15 years, said Abhishek Lodha
BUSINESS
MC Explainer: Why has Mumbai Police arrested prominent real estate developers Dharmesh and Rajiv Jain of Nirmal Lifestyle
Both directors have been held on complaints of 34 homebuyers who have not got possession of homes they booked in the projects of Nirmal Lifestyle.
BUSINESS
Mumbai's April property registrations down 16% on year, 25% on month: Govt data
However, the state government collected Rs 840 crore revenue from registrations, the highest in the last 10 years.
REAL-ESTATE
Nirmal Lifestyle’s Dharmesh and Rajiv Jain held for refusing ‘possession to homebuyers’
According to Mumbai Police officials, the arrests have been made basis complaint from 34 homebuyers
