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Tallest Indian skyscraper gets its act together
The Rs1,200 crore project, India’s most expensive residential address, has been bogged down by legal issues over the dangers its construction posed to the stability of Cumballa hill, on which it was being built Eight years after construction began at the Imperial twin towers project in Mumbai, its developers have finally received the mandatory occupancy certificate [...]
Continue reading...Builders cash in on proposed infra projects to hardsell flats
11. March 2010
Ananya Shekdar, a software professional, during her daily hunt for a flat was surprised when she came across a developer in Wadala who showed her the map of his residential building scheme, boasting of the site’s proximity to upcoming projects like the trans-harbour link, the Metro rail and the Monorail. In Navi Mumbai too, proposed projects [...]
Continue reading...‘Set up panel to check SRA fraud’
11. March 2010
Taking a serious note of the large-scale resale of flats allotted under slum rehabilitation schemes, the Bombay high court on Wednesday recommended to the Maharashtra government to set up an “independent authority’’ to monitor and take action against such offenders. The advice followed a report submitted before a division bench of Justice F I Rebello and [...]
Continue reading...Soon, a single flat owner can apply for conveyance
8. March 2010
The much-awaited deemed conveyance rules will allow even a single flat owner to apply for conveyance even if other members of the society and the builder gang up against him/her. Various secretaries and chairmen of housing societies had gathered at a hall in Thakur Complex, Kandivli (E) to discuss salient features of the deemed conveyance on [...]
Continue reading...No takers for BKC plot
4. March 2010
COSTLY AFFAIR Developers stay away from posh real estate address, say Rs 435-cr reserve price too high That was the minimum reserve price set by the Mumbai Metropolitan Region Development Authority for a 3,162-sq-mtr plot it want- ed to auction. It didn’t get a sin- gle bid. “We haven’t got a single bid for this plot. This [...]
Continue reading...Builder cartel jacks up prices in Mumbai
3. March 2010
Half a dozen developers control 70 per cent of Transferable Development Rights in the city. A cartelisation of Mumbai’s real estate, one of the costliest in the world, in the matter of transferable development rights (TDR) has put upward pressure on prices and has also caused concern in policy circles. In a recent development, just six-odd builders [...]
Continue reading...PUNE : Realtor accuses CM of land scam
3. March 2010
PROPERTY MATTERS Pune resident alleges Chavan ordered land transfer to favour developer I had passed the order as a quasi judicial authority. If a party did not find it fair, they should have challenged it as per the procedure. ASHOK CHAVAN , chief minister A little more than 100 days after he assumed office, Chief Minister Ashok [...]
Continue reading...REALTY FIRM WANTS LUXURY HOMES ON MILL LAND, NOT MALL
1. March 2010
India’s biggest real estate developer, DLF, has scrapped plans to construct a mall on the mill land it had purchased in Lower Parel. Instead, it will construct high- end luxury apartments — which cost between Rs 25,000 and Rs 30,000 a square foot — on the 17-acre plot that was owned by the National Textile Corporation. “We [...]
Continue reading...DLF converts Mumbai mall project into residential one
26. February 2010
DLF, the country’s largest realtor by market value, is planning to build a premium residential apartment complex at Worli in Mumbai instead of a high-end mall project, as demand for retail spaces has come down sharply, according to a company executive. “We felt residential will do well here, and we will fix the price depending on [...]
Continue reading...Wadia sells Four-Storey Commercial Building at Worli to Axis for Rs 640 crore
25. February 2010
A new four-storey commercial building at Worli is being sold for Rs 640 crore, pitching it as one of the costliest in the country. The Nusli Wadia-led Wadia Group has finalised the mega deal with Axis Bank, which is planning to shift its headquarters to the building. The deal generated a lot of interest in Mumbai’s [...]
Continue reading...Nariman Point is fifth most expensive office location
24. February 2010
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Mumbai’s Nariman Point area is the fifth most expensive office location in the world with an average annual rental of $107 per sq ft, according to a survey conducted by realty services firm Cushman & Wakefield. Mumbai’s central business district edged past Russian capital Moscow in the latest survey and is preceded by Tokyo, London West End, [...]
Continue reading...14-acre GTC plot sold for Rs 591 cr
24. February 2010
Mumbai: In a city where open plots have all but disappeared, the last of the vast chunks of land are worth their weight in gold. In yet another big-ticket deal—considered to be the largest in over two years—Mumbai based company Sheth Developers is learnt to have bought the GTC (Golden Tobacco Company) property in Vile [...]
Continue reading...MHADA PLANS 15,000 new affordable houses
24. February 2010
MHADA PLANS Move aimed at reducing realty prices in city with creation of low cost housing over the next two years In a city where realty prices have skyrocketed, we are the only ones to provide low cost houses and we will stick to our agenda AMARJEET SING HMANHAS chairman, MHADA, Mumbai The Maharashtra Housing and Area [...]
Continue reading...City to get 14 new stamp duty offices
24. February 2010
By the middle of this year, registering your newly bought flat or leave and licence agreement for the house you have rented could become a less tedious experience. The Revenue Department has planned to open 29 new stamps duty and registration offices including 14 in Mumbai. These `citizen friendly’ offices will be fully computerised and will remain [...]
Continue reading...11 Mhada buildings razed for crucial road corridor
23. February 2010
Mumbai: Almost after a year, the work on the much awaited Santa Cruz-Chembur Link Road (SCLR) has received a major push. A total of 11 out of 13 Mhada buildings at Lokmanya Tilak Nagar near Kurla terminus, which were coming in the way, have been razed, paving the way for the new 2.5-km link. This combination [...]
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- Metro Rail take four years to go Greater Noida
- Tallest Indian skyscraper gets its act together
- Shapoorji, Ethiopia ink 50,000ha land deal
- Why collect tax if building illegal? SCB asked to clarify
- Builders cash in on proposed infra projects to hardsell flats
- ‘Set up panel to check SRA fraud’
- Industrial plots not for houses
- Khaitan IAS man to Head Delhi Real Estate Practice
- Realty major BPTP plans Rs 1,500 cr IPO in early FY11
- UP MLA held for cheating Noida builder
11. March 2010
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