BUSINESS
Bollywood actor John Abraham purchases bungalow in Mumbai for Rs 70.83 crore
Mumbai real estate: John Abraham has paid a stamp duty of Rs 4.24 crore for the bungalow located in Khar's Linking Road, which is one of the biggest retail high streets of the city.
BUSINESS
Year Ender 2023: Mumbai real estate market clocks 1.27 lakh property registrations, 4% higher than 2022
Mumbai real estate market update: The revenue from property registrations in 2023 crossed the Rs 10,000 crore-mark, and is 22 percent higher as compared to the preceding year.
BUSINESS
Mumbai real estate: Amitabh Bachchan rents out commercial space for annual rental of Rs 2.07 cr
Mumbai office market: The annual rental the four units commercial spread around 10,000 sqft will increase to Rs 2.38 crore yearly from the fourth year of the rental agreement
BUSINESS
Mumbai redevelopment news: MICL to take up Bollywood actor Aamir Khan's Pali Hill building
In a December 29 statement, MICL announced plans to construct 50,000 sqft for sale, targeting a Rs 500 crore topline. The company anticipates developing luxury 4 and 5 BHK apartments.
BUSINESS
Year Ender 2023: Luxury property sales rise in Mumbai, Rs 3-7 crore sweet spot for homebuyers
Mumbai real estate: It is expected that Mumbai’s total revenue collections from property sales will grow by 22 to 25 percent in 2023. Sales in 2024 are expected to remain on a similar trajectory, albeit the growth may be moderated.
BUSINESS
Nagpur’s MIHAN-SEZ asks DLF to return allotted 140 acres over failure to begin work 15 years on
Nagpur real estate news: MIHAN-SEZ authorities said they are still open to facilitating the project provided DLF furnishes solid plans for project development.
BUSINESS
Welspun One to build Rs 700-crore industrial, logistics hub at JNPA
This is the second deployment from Welspun Ones’ latest Fund 2, a Rs 2,000 crore Alternative Investment Fund, the company has said
BUSINESS
Pune real estate: Prestige Group to enter residential market in 2024
Prestige Group plans to launch 1 million square feet of homes in Pune over the next 12 months with an expected topline of Rs 750 crore to Rs 1,000 crore.
BUSINESS
Thane redevelopment news: Dosti Realty announces project, targets Rs 430 crore revenue
Thane real estate: The redevelopment project, near the Eastern Express Highway, is spread over a 1 lakh sq ft land parcel and has a cumulative estimated development potential of 3.10 lakh sqft.
BUSINESS
CG Power inks pact with K Raheja to redevelop headquarter building in Mumbai's tony Worli area
The company and the developer will be entitled to 50% share of the leasehold right and the developed building.
BUSINESS
Suraj Developers IPO: 16 upcoming projects with 7.46 lakh sqft to come up over 5-6 years
Mumbai redevelopment news: The company wants to explore projects in the old building and society redevelopment segment in the Mumbai Metropolitan Region (MMR). It has no plans to bid for slum rehabilitation projects or other segments such as warehousing and logistics.
BUSINESS
Can homebuyers claim compensation for delayed projects after taking possession?
Delayed possession: MahaRERA has said that a complaint for delayed handing over by the developer can attract provisions of Section 18 of the RERA Act (compensation) only if the delay is ongoing at the time of filing the complaint.
BUSINESS
HCC sells land parcel for Rs 95 crore near Mumbai
India real estate: According to the documents shared by CRE Matrix, HCC board on November 9 passed a resolution to sell the land as part of asset monetisation of debt resolution
BUSINESS
Dharavi redevelopment: Developers’ body seeks relaxations in buying TDRs from Adani Group project
CREDAI-MCHI has sought higher FSI and relaxation in premiums to be paid to the government for meeting the purchase of TDR from the Dharavi Development Project
BUSINESS
MC Explains: What MahaRERA’s plan to regulate quality of construction means for homebuyers
The Maharashtra real estate regulator has floated a consultation for regulation of the quality of construction of apartments that will involve audits by third parties.
BUSINESS
Maharashtra real estate: 5 things you should know about the upcoming housing policy
BUSINESS
MahaRERA consultation paper on quality of construction makes 3rd party audit optional
Quality of construction: However, projects that choose to adopt this will be prominently featured on the MahaRERA website, ensuring that prospective homebuyers are informed during their decision-making process. Going ahead, it is envisioned that the framework will be made mandatory.
BUSINESS
Birla Estates has a project pipeline with a gross development value of Rs 45,000 crore: CEO
Mumbai real estate update: Birla Estates plans to launch the second phase of Birla Niyaara project in Worli, having 8.5 lakh to 9 lakh sq ft of saleable area, in the upcoming quarter
BUSINESS
Mumbai real estate: Property registrations increase over 3% year-on- year in November 2023
Mumbai real estate update: With the festivals of Navratri and Diwali, October too saw registrations rise in the city, jumping 21 percent over the previous year.
BUSINESS
Hiranandani Group ventures into real estate consultancy services
Eleva, the company’s new division, will also focus on stalled or stuck real estate projects and provide development, construction, design, marketing, and sales-oriented solutions to real estate companies.
BUSINESS
Flexi workspace: Hong Kong’s The Executive Centre to expand in India, UAE; eyes Saudi Arabia opportunities
The company, which has a widespread presence in India, is set to open 10,000 sq ft of flexi space in Abu Dhabi by January 2024.
BUSINESS
SEBI norms for fractional ownership platforms: Future prospects of existing investors, qualifying norms for players major worries
Currently, these platforms are unregulated entities that are mainly web-based and operate by aggregating funds from investors to buy stakes in pre-leased commercial real estate, typically with a minimum ticket size of Rs 25 lakh.
BUSINESS
Mumbai real estate update: BDR Pharma promoter purchases 2 apartments worth Rs 80 crore in Worli
The deal is for two apartments in Raheja Artesia, where Ipsita Dasgupta, the former Apple executive, had purchased flat for Rs 22.52 crore.
BUSINESS
Raj Kapoor bungalow: Godrej Properties to launch residential project worth Rs 500 crore in Mumbai
Mumbai real estate update: Godrej Properties acquired the site in February 2023. The project will develop 2 lakh sqft with a sales potential of Rs 500 crore. The company is also setting its eyes on the Hyderabad market in addition to its existing projects.
