Category: Mumbai

Welspun India MD buys penthouse in Prabhadevi for Rs 150 crore

October 27, 2018

Mumbai In one of the largest residential apartment transactions, textile major Welspun India’s co-promoter and managing director Rajesh Mandawewala has bought a triplex luxury sea-view penthouse in an under-construction project, 25 South, in Mumbai’s Prabhadevi locality for Rs 150 crore, said two persons with direct knowledge of the development. The apartment is spread over 18,000 […]

Welspun India MD buys penthouse in Prabhadevi for Rs 150 croremore

New DCPR rules make slum schemes unviable in Mumbai: SRA chief

October 25, 2018

Mumbai In a blow to the Slum Rehabilitation Authority (SRA), the new Development Control and Promotion Rules (DCPR 2034) have made SRA schemes unviable. If these rules are not rectified, slum rehabilitation projects will fail to take off and no builder will be able to execute slum projects. This will further sink the failing realty […]

New DCPR rules make slum schemes unviable in Mumbai: SRA chiefmore

Vasai-Virar builders use YouTube to sell illegal chawl rooms for Rs 4 lakh

Mumbai Unauthorized constructions and land grabs are not new to the city and suburbs, but in Vasai-Virar, the illegality has turned so brazen that builders have taken to social media to openly advertise projects built on encroached government and reserved plots. Recently, the Vasai-Virar Municipal Corporation (VVMC) was stunned to see a video on YouTube […]

Vasai-Virar builders use YouTube to sell illegal chawl rooms for Rs 4 lakhmore

Real estate sector to chart new growth story, will grow 35% annually in next 5 years: Niranjan Hiranandani

October 23, 2018

Though the is under stress for the last few years, this could be the beginning of a new growth story, said Niranjan Hiranandani, president (national), National Real Estate Development Council (NAREDCO) and chief managing director of Hiranandani Communities. The survival trick for developers and investors is to adapt to the changing environment and government policies. […]

Real estate sector to chart new growth story, will grow 35% annually in next 5 years: Niranjan Hiranandanimore

Residential real estate sales at 22.2 mn sq ft this year, new launches decline

October 22, 2018

Launches in July 2018 were significantly lower than the monthly average of 14.5 mn sq ft in the past 12 months. Consequently, inventory across India dropped 10 percent to around 1 bn sq ft from 1.1 bn sq ft in July 2017. Prices saw a slight increase in July 2018 averaging around Rs 6,100 per […]

Residential real estate sales at 22.2 mn sq ft this year, new launches declinemore

Reasons to not give up on Indian real estate

Real estate may be down in the dumps right now. But even so, compared with most other big businesses, At its core, real estate is the coolest even in failure. You build an airline on leased planes and if it fails all that the lenders are left with is a brand with which they can […]

Reasons to not give up on Indian real estatemore

Piramal Enterprises denies loan defaults by real estate developers

October 21, 2018

Piramal Enterprises Ltd has denied any loan default by real estate developers, including Lodha, Omkar, Vatika, Embassy, Radius, Nahar, Aristo and Supertech. “Piramal Enterprises would categorically like to state that we have an extremely robust loan processing and recovery process, including risk management and asset monitoring system. Developers like Lodha, Omkar, Vatika and Embassy referred […]

Piramal Enterprises denies loan defaults by real estate developersmore

The government gives go-ahead to AIGP Developers (Pune) to set up IT/ITES special economic zone in Maharashtra

October 20, 2018

On September 12, the government approved the proposal of AIGP Developers (Pune) to set up IT/ITES special economic zone (SEZ) in Maharashtra. The total area allotted for the SEZ is more than 6.69 hectares. An official present at the meeting confirmed the news and said, “After deliberations, the board, chaired by the commerce secretary, approved […]

The government gives go-ahead to AIGP Developers (Pune) to set up IT/ITES special economic zone in Maharashtramore

Court’s demolishing order to Lodha New Cuffe Parade is based on new norms of height restrictions by Airports Authority of India

A few years ago, based on the no-objection certificate granted by Airports Authority of India (AAI) on height clearance, the MMRDA (Mumbai Metropolitan Region Development Authority) had granted permission to construct to around 139 meters to the builders of Lodha New Cuffe Parade in Wadala. However, new height restrictions were imposed by the AAI thereafter […]

Court’s demolishing order to Lodha New Cuffe Parade is based on new norms of height restrictions by Airports Authority of Indiamore

grant homes to people under the Pradhan Mantri Awas Yojana (PMAY) only if they produce their Aadhaar card as ID proof

October 19, 2018

Pune: Those seeking to own a home under the PMAY in Pune will now have to show Aadhaar cards as an ID proof. Failing to do so will make them ineligible for the scheme. This latest development has been confirmed by PMRDA (Pune Metropolitan Region Development Authority) officials. They also stated that they are working on a […]

grant homes to people under the Pradhan Mantri Awas Yojana (PMAY) only if they produce their Aadhaar card as ID proofmore

Category: Mumbai

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