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As Mumbai water stock dips, housing societies shut pools
Publish on : 2019-04-30 11:36:32
MUMBAI: Several housing societies in Mumbai have kept their swimming pools shut now to prevent any peak summer crisis, after BMC imposed 10% water cuts since November due to low stocks in the lakes that cater to Mumbai. For instance, Sion’s Vasanti Apartments has shut its pool for a month while S...
There is a mass revolt by builders: Chief Justice
Publish on : 2019-04-26 12:48:55
MUMBAI: Two weeks after Chief Justice Pradeep Nandrajog arrived in Mumbai to take over the top job in the Bombay high court, the judge on Thursday said he sees a "lawless city".  The chief justice, who is sitting on a division bench with Justice Nitin Jamdar, has been hearing PILs and petitions r...
K Raheja, Mafatlal Group company call off 2016 land deal
Publish on : 2019-04-23 12:25:27
Realty developer K Raheja Corp and Mafatlal Group company Standard Industries have called off the deal for 62.25 acre of land parcel in  Navi Mumbai ’s Ghansoli locality. In September 2016, K Raheja Corp had entered into a Memorandum of Understanding (MoU) to acquire this plot for Rs 355 crore. A...
Mumbai realty most affordable among similar realty hot spots 
Publish on : 2019-04-15 10:35:10
NEW DELHI: Mumbai, home to some 24 million people, is among India's most expensive real estate markets. Yet, owning a piece of realty in this property hotbed is becoming more affordable vis-à-vis similar realty hot spots.  Knight Frank’s latest report on ‘Urban Futures’ names Mumbai as one of...
Realty sector likely to see 200 m sq ft addition in 2019 
Publish on : 2019-04-11 11:21:53
BENGALURU: Indian real estate is expected to witness addition of nearly 200 million sq ft of space in 2019 across categories including office, retail, residential and logistics to reach 3.7 trillion sq ft. Of this, nearly 40 million sq ft development will be new office space to be released over th...
Tata Group, GIC and SSG to buy 44% in GMR Airports
Publish on : 2019-04-06 11:55:39
MUMBAI: GMR Infrastructure said a consortium comprising the Tata Group, an affiliate of Singapore sovereign wealth fund GIC and Hong Kong-based SSG Capital Management would invest Rs 8,000 crore ($1.16 billion) in its airports unit. GMR will use the entire fund to bring down its debt to Rs 12,00...
Mumbai 16th most expensive global prime residential market: Report
Publish on : 2019-03-26 11:37:20
MUMBAI: Mumbai, the country’s commercial capital, has emerged as the 16th most expensive prime residential property market in the world. In terms of price rise, Indian luxury home markets remained low on growth chart with Delhi gaining 1.4%, Bangalore 1.1% and Mumbai 0.3%, showed Knight Frank’s Pr...
Developers told to pay service tax on redeveloped housing projects
Publish on : 2019-03-22 11:04:33
When a real estate developer redevelops a society and delivers apartments to the original residents free of cost, is it taxable? The tax department thinks it is.  In what is set to create problems for real estate developers, especially those that have undertaken redevelopment projects, the indire...
Buying a house on a subvention scheme? Tread with caution 
Publish on : 2019-03-15 10:49:36
With prospects of under-construction properties looking up following the cut in Goods and Services Tax (GST), interest subvention schemes offered by builders through tie-ups with banks are likely to come into focus. Along with discounts and freebies, such schemes could be promoted heavily to attra...
Realty hot spot series: Proximity to commercial areas is the main draw of this Pune locality
Publish on : 2019-03-13 11:41:03
This week’s realty hot spot is Pashan-Sus Road, Pune. The main draws of this well-developed area are its good connectivity to commercial areas and presence of good infrastructure. It is well-connected through the Pashan-Sus Road, Baner Road, Mumbai Highway (NH-48) and Shivaji Nagar Railway Station....

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