BUSINESS
Axis Bank leases 81,309 square feet office space in Mumbai’s Vile Parle
The Axis bank has leased the space in the erstwhile factory compound from biscuit maker Parle group
BUSINESS
MahaRERA issues draft guidelines for developers of senior citizen housing projects
The MahaRERA has said that the draft on “regulation of retirement homes” is available on MahaRERA’s website for which the regulator has called in for suggestions. These suggestions can be mailed on suggestions.maharera@gmail.com by February 29th.
BUSINESS
Mumbai real estate: DLF's first project may have apartments in Rs 5.5 crore to Rs 7.5 crore range
DLF is developing 1 million square feet in the first phase of a Slum Rehabilitation Authority project in a joint venture with the Trident Group.
BUSINESS
Macrotech Developers to evaluate expansion in 4th city: MD Abhishek Lodha
Apart from Mumbai, Pune and Bengaluru in India, Lodha has also done project in the UK. However, the company wants to focus on its growth in India.
BUSINESS
Zomato CEO Deepinder Goyal purchases 2 land parcels for Rs 79 crore in Delhi
The two plots are located in the village Dera Mandi of Chhatarpur area and the registration for both transactions took place at Hauz Khas.
BUSINESS
Smart Cities in India: Budget allocation goes down by 21% to Rs 10,400 crore
Union Budget 2024: The budget estimates for AMRUT and Smart Cities Mission in 2023-24 was even higher at Rs 16,000 crore. However, the same has now come down significantly to Rs 10,400 crore.
BUSINESS
Budget hikes fund allocation for PMAY to Rs 80,671 cr, govt to roll out housing scheme for middle-class
Budget speech 2024: During her speech, Finance Minister Nirmala Sitharaman said the government will launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses.
BUSINESS
Mumbai real estate sees 21% YoY spike in registrations; 500-1,000 sq ft properties dominate
In terms of revenue from stamp duty, Rs 746 crore was collected in January 2024, eight percent more than Rs 692 crore in January 2023
BUSINESS
Mumbai real estate: Barclays rents 64,995 sqft space in Worli, at Rs 2.07 cr monthly rent
Mumbai real estate update: The office units come with 51 parking lots and the monthly rent per sqft comes out to Rs 320. The building named Raheja Altimius is a commercial building constructed across land area of 3.10 acres and has a total leasable area of 1.12 million sqft.
BUSINESS
REITs to gain traction on likely turn in rate cycle, diversification moves
With interest rates at peak and most likely to head lower from here, REITs are expected to do better. Experts say the quality and diversification of assets, the profile of the rental occupiers and the developer portfolio are key points to watch out for before investing in Indian REITs.
BUSINESS
Ayodhya Ram Mandir | Average property rates up 179% in 3 months, surge in online home search: Magicbricks
Ayodhya Ram Mandir: Land rates, which ranged from Rs 1,000 to 2,000 per sqft in 2019, are now at Rs 4,000 to 6,000 per sqft, according to a real estate consultancy.
BUSINESS
Ayodhya Ram Mandir: Amitabh Bachchan has invested in land, should you too?
Ayodhya Ram Mandir: Though brokerages and developers give various figures about the surge in real-estate prices, the real-estate market in the town is now well organised and Ayodhya has got an irresistible lure. The making of a Rs 2,200 cr, 1200-acre township, with an international airport, is just one example
BUSINESS
Kolte-Patil secures 2 society redevelopment projects in Mumbai with a combined potential of Rs 545 crore
Mumbai real estate: The two projects are in Dahisar and Versova area of Mumbai and have potential of 3.06 lakh sqft for sale, according to the company statement.
BUSINESS
Mumbai real estate: 27% less units launched in CY23 compared to CY22, 1 BHK ratio goes up
Mumbai real estate update: Though launch of 1 BHK units went up in CY23, the number of units launched in the 3.5 and 4 BHK category has been the highest at 1,509 in CY23 compared to the last three years.
BUSINESS
Mumbai redevelopment: Rustomjee Group to redevelop 2 housing societies having Rs 1,200 crore GDV
The project in Malad area of Mumbai will include component of rehousing 342 existing members of both the societies, and this redevelopment will lead to sale potential of 3.42 lakh sq ft of RERA carpet area, according to company statement
BUSINESS
Mumbai real estate: Halan Family seals Rs 103.98 cr deal for luxury apartments
The deal as per the documents was done on December 8, the seller is K Raheja Corp for its Raheja Modern Vivarea project and the transaction comes with 16 parking lots.
BUSINESS
Arihant Superstructures plans to enter hospitality business; focus on MTHL, Navi Mumbai Airport
Navi Mumbai real estate: The real estate company intends developing a 221-key hotel on 9 acres, and a sports club and gymkhana on 10.5 acres. The company plans to have 15 to 20 percent of revenue from annuity business in the next three to five years.
BUSINESS
Mumbai real estate: Ajmera Realty & Rustomjee Group partner for Bandra redevelopment project, aim Rs 760 crore GDV
Mumbai redevelopment news: Both companies will hold a 50 percent stake in the project and the project is aimed at delivery of premium luxury residential apartments with an estimated carpet area of approximately 130,000 sqft for sale, according to the statement issued by Ajmera Realty.
BUSINESS
MahaRERA mandates one project registration number for one stand-alone project
MahaRERA said the decision was taken to prevent cheating of homebuyers by developers.
BUSINESS
Rs 1 crore budget? Should you buy a 3 BHK in Panvel or 1 BHK in Mumbai?
Panvel real estate: With Prime Minister Narendra Modi to open Mumbai Trans Harbour Link (MTHL) on January 12, and later in the coming months a number of infrastructure projects coming up, developers from Panvel and surrounding areas expect property rates to match those in several suburban micro-markets in Mumbai.
BUSINESS
Mumbai residential buildings reported 33% of city fire incidents in 2023
Mumbai Fire Incidents: According to the Mumbai Fire Brigade, 70 to 80 percent of the fires in Mumbai were due to electrical short-circuits. In several such incidents in high-rises, the damage caused was more extensive when the firefighting equipment was not functional due to poor maintenance.
BUSINESS
MahaRERA dismisses complaint against Lodha for New Cuffe Parade project in Mumbai
Changes and alterations by builder beyond registered demarcated area not under our purview, says MahaRERA in case pertaining to Mumbai real estate market.
BUSINESS
Meet architect Hafeez Contractor who has partnered with Adani Group for Dharavi redevelopment project
Dharavi redevelopment: Hafeez Contractor has designed several projects including The Imperial Towers in Mumbai; 23 Marina, Dubai, which is one of the world’s tallest residential buildings, two busiest airports of Mumbai and New Delhi, and DY Patil Cricket Stadium, Navi Mumbai.
BUSINESS
On Location: Bollywood’s star-studded property deals of 2023
The glittering Mumbai real estate market has always enjoyed its share of glamour, with Bollywood stars buying and selling properties. Here we list some of the bigger deals.
