Crooked Mumbai builders have left 1.25 lakh families in lurch

Mumbai According to an estimate, about 5,800 redevelopment projects in the city are at a standstill and hapless citizens have been left in the lurch by fly-by-night builders who abandoned the projects after promising new homes in place of what were residences for generations. Over 1.25 lakh families are believed to be affected because builders stopped paying rent and there […]

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PM kicks off Rs 33,000 crore metro, low-cost housing projects in Mumbai region

Mumbai Minister Narendra Modi on December 18 laid foundation stones for two metro lines and affordable housing projects entailing investment of over Rs 33,000 crore in the megapolis. At an event held here months ahead of the crucial general elections in 2019, Modi kick started work on the ambitious Thane-Bhiwandi-Kalyan (Metro 5) and the Dahisar-Mira Bhayander (Metro 9) in this Mumbai suburb, which will […]

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HC upholds validity of Maharashtra’s notification for TDR policy

Mumbai The Bombay High Court on December 18 upheld as legal and valid a 2016 notification of the Maharashtra government that amended the Transferable Development Rights (TDR) policy for the Greater Mumbai region. A bench of Justices A S Oka and R I Chagla upheld the notification dated November 16, 2016 that grants additional construction rights and Floor Space Index […]

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Mumbai: Decline in slum TDR sharpest in 20 years

Mumbai Slum TDR or transfer of development rights generated from slum rehabilitation projects in Mumbai has seen its sharpest ever decline this year, the lowest in 20 years. In Mumbai’s real estate industry, slum TDR is one of the most important construction incentives offered to developers who build homes free of cost for eligible slum dwellers under the Slum Rehabilitation Scheme. Instead […]

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Destination next: Dronagiri

Mumbai After the inauguration of the Belapur to Kharkopar railway line, Dronagiri has emerged as one of the most sought-after destinations for those looking to make a sound investment in affordable housing. Ulwe is the most developed node closest to the proposed Navi Mumbai International Airport (N M IA) and real estate prices there have already hit the saturation mark, […]

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Mhada’s software sees one winner bag two of its costliest flats ever

Mumbai The recurring phenomenon of repeat winners in the state housing board lottery has persisted over the past eight years. On December 16, a Shiv Sena leader reportedly from central Mumbai, Vinod Shirke, won two cream of the crop apartments in the Mhada lottery, one costing Rs 4.99 crore, the other the most expensive flat in Mhada’s history at Rs 5.8 crore. He […]

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Air India calls bids to sell Nariman Point building

Mumbai Debt-ridden national carrier Air India has called for bids to sell the iconic 23-storey — Air India Building — located at Nariman Point in Mumbai. According to a tender document on the airline’s website dated December 7, bids have been invited by December 31, 2018 from state-run companies for the sale of the building and for the land on […]

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Realty among top three focus areas for Tata Group

Mumbai The Tata Group has identified property development business as one of its top three focus areas as it looks to become a major player in the country’s burgeoning real estate sector, the top executive said. “We are scaling up the business as we want to be a complete real estate solutions company with presence is all the segments — […]

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Ownership of Mhada lottery’s costliest flats in legal dispute

State Housing Board- Mhada’s December 16 lottery for 1,384 flats has been marred with a legal dispute involving its three costliest apartments averaging Rs 5 crore each. The Managing Committee of Dhavalgiri building in Grant Road, where these flats are located, has disputed Mhada’s ownership in a law suit filed in The Bombay High Court. Coupled with that are claims […]

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Poised perfectly

Pune Several homebuyers prefer Pune owing to its perfect sized apartments in prime areas. It’s no secret that Pune is a favourite destination for prospective homebuyers. Well, what makes it a preferred choice? Several homebuyers prefer Pune owing to its perfect sized apartments in prime areas. This is a key factor that draws people to the Peshwa City. In the […]

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