MahaRERA urges Navi Mumbai civic body to clarify green clearance delay
March 19, 2018

Maharashtra Real Estate Regulatory Authority (MahaRERA) beckoned Navi Mumbai Municipal Corporation (NMMC) to provide evidence for taking a call on cases of delayed possession pertaining to Green World project on Thane-Belapur Road (Airoli). Navi Mumbai civic body’s Town Planning officials were called to confirm whether the delay in obtaining environment clearances occurred at their office. On January 5, they admitted to the authority that the delay took place at their level, revealed a direction by MahaRERA Member - Vijay Satbir Singh. Omitting the time span between January 1, 2016 and mid-2017, Singh then directed the builders to pay interest to…

Press Release

Paradigm Realty collaborates with Ram Developers for Thane-based affordable project
March 19, 2018

Paradigm Realty collaborates with Ram Developers for Thane-based affordable project19th March 2018 Paradigm Realty has joined hands with Ram Developers for constructing an affordable project, 'Zenith' at Pushpanjali Residency in Thane. The project will comprise G+30 storey flats, with 1BHK and 2BHK configurations, with 498 sq ft and 660 sq ft of carpet area, respectively. The price range starts from Rs 52 lakh. 

Press Release

Capacit’e Infraprojects bags contract worth Rs 256.58 crore from Alamelu Charitable Foundation
March 19, 2018

Capacit'e Infraprojects bags contract worth Rs 256.58 crore from Alamelu Charitable Foundation19th March 2018 Gurgaon-headquartered Capacit'e Infraprojects Limited, a reputed construction company, bagged a deal worth Rs 256.58 crore from Alamelu Charitable Foundation. The contract mentions civil, electro- mechanical and interior works at the Mahamana Pandit Madan Mohan Malaviya Cancer Centre Project, located in Sundarbagiya, Banaras Hindu University, Varanasi. Speaking on adding a marquee customer to its clientele, MD Rahul Katyal, commented, “This is our first project with Tata Trusts.”

MahaRERA tightens noose around errant developers
March 18, 2018

Maharashtra Real Estate Regulatory Authority (MahaRERA) Chairperson, Gautam Chatterjee recently announced that a directive to all 15,000 RERA-registered projects will be issued, asking them to conclude agreements with homebuyers in case they have accepted over 10 percent of the total apartment cost. This decision will benefit home buyers as well as produce valuable income for the government. The announcement was made at an event organised by consumer rights body, Mumbai Grahak Panchayat (MGP) to celebrate World Consumer Rights Day at Prabhodhankar Thackeray auditorium in Borivali. Incidentally, March 15 also marks the day when Lok Sabha cleared the Real Estate (Regulation…

Press Release

Oberoi Realty’s premium residential project in Goregaon now ready for possession
March 16, 2018

Oberoi Realty’s premium residential project in Goregaon now ready for possession16th March 2018 Mumbai-based developer Oberoi Realty is ready to hand over its premium luxury residential project, Esquire at Goregaon, Mumbai. The project will have 3 high-rises, featuring 3BHK and 4BHK apartments. The builder promises state-of-the-art amenities - pool, multipurpose hall, gymnasium, skating rink, jogging track, squash, tennis, futsal, and other multipurpose courts. Although situated in proximity to the highway, the lush green landscape surrounding the project is expected to keep noise and traffic pollution at bay.

MahaRERA fines 8 developers for flouting RERA norms
March 14, 2018

MahaRera has slapped penalties ranging from Rs 2-10 lakh on eight prominent builders for violating the Real Estate (Regulation and Development) Act on complaints made by the Mumbai Grahak Panchayat (MGP). While most of the developers were fined for not mentioning MahaRERA's website's address in their advertisements, one builder was penalized for advertising an unregistered project. According to Advocate Shirish Deshpande, Chairman, Mumbai Grahak Panchayat while these developers mentioned their project registration number, most of them did not give the website address of MahaRERA where homebuyers can verify other details of the project before investing. The act makes it mandatory…

MMRDA expands infra projects across Thane, Navi Mumbai areas
March 13, 2018

The Mumbai Metropolitan Region Development Authority (MMRDA) has specific plans to develop cities of Thane, Navi Mumbai, Kalyan-Dombivali and Virar zones under Extended Mumbai Urban Infrastructure Project. This work entails road construction and flyover development in these locations to reduce traffic congestion. The authority is executing the Mumbai Urban Infrastructure Project (MUIP) in the dominion of Municipal Corporation of Greater Mumbai. An MMRDA official states that a significant number of people travel to the city and in order to make infrastructure facilities ready for them, it is essential to expand the Mumbai Urban Infrastructure Project (MUIP) to the Metropolitan Region.…

Press Release

Dosti Realty launches flagship project in Thane
March 8, 2018

Dosti Realty launches flagship project in Thane08th March 2018 On the auspicious occasion of Gudi Padwa, Mumbai-based developer, Dosti Realty launched its latest project Dosti West County in Balkum, Thane (W). The project aims to offer world-class amenities and unique features that support the contemporary and urban lifestyle. The developer has launched two towers: Dosti West County - Dosti Oak (Phase-1) and Dosti West County - Dosti Cedar (Phase-2).

Thane accounts 18 pc of overall housing supply in MMR
March 8, 2018

According to a recent report by Anarock, Thane has witnessed about 18 percent of the total new launches in Mumbai Metropolitan Region (MMR) in 2017. A total of 8,800 new homes have been launched in Thane last year. Majiwada and Ghodbunder road witnessed the maximum launches, touching 67 percent. The report adds that nearly 70,000 flats have been launched in Thane during the past six years. Of all launched residential units, about 53 percent flats have been absorbed. In 2017, overall absorption of new homes accounted 26 percent, on the back of structural changes and policy reforms. It has been…

Mumbai ranks 16th among world’s costliest property markets: Report
March 7, 2018

According to Knight Frank’s annual wealth report, one of India’s hottest property market, Mumbai is ranked 16th among the top 20 costliest cities in the world. With a budget of $1 million, one can purchase little less than 1,000 sq ft in some desirable localities of the country’s commercial capital while Hong Kong, which ranks second in the list offers 237 sq ft space in similar budget. Mumbai was ranked 15th in this list last year with $1 million fetching 1,065 sq ft space. The rise in Mumbai’s ranking is supported by the rapid wealth creation in the country. India…

Maharashtra to allow internal walls in carpet area calculations
March 1, 2018

The Maharashtra government has decided to include areas covered by internal walls within the residential unit as a part of the carpet area of the house. With this decision, the state government will soon tweak the definition of carpet area in Mumbai’s development control (DC) regulations. The carpet area of the home is net usable floor area on which a ‘carpet’ can be spread. Till now, the areas covered by internal partition walls were not counted in carpet area calculations. The decision was made to bring uniformity in the DC regulations and RERA provisions. Officials have shared that the tweaked…

Mumbai-Goa highway to become operational by March 2019
March 1, 2018

The Central Government has announced that the widening of the Mumbai-Goa highway is expected to be completed by March 2019. Nitin Gadkari, Road Transport & Highways Minister, has shared that the preliminary works related to the widening of the road are already underway. The four-lane expansion project has been delayed for long due to several reasons, including lack of permission to cut trees. Over 10,000 trees have been identified for cutting on the Panvel-Indapur stretch, of which 5,462 have already been razed. Once the stretch is completed, the travel distance from Goa to Mumbai will be reduced to just six…

Maharashtra government to publish land records online
February 27, 2018

As a part of Digital India initiative, the Maharashtra government will soon publish over 34 crore land records online to allow people to access any land record across the state at a click of a button. With this digital move, consumers can easily access all land records, the name of the owner, area, and pending dues on the land. It would bring transparency in sale and purchase of land across the state. Governor, C Vidyasagar Rao, has shared that cadastral maps showcasing the extent, value, and ownership of land, including taxation of six districts of Raigad, Aurangabad, Pune, Amravati, Nashik,…

Press Release

Haware Meadows announces new township project in Neral, Mumbai
February 26, 2018

Haware Meadows announces new township project in Neral, Mumbai26th February 2018 Mumbai-based developer, Haware Builders launched a township project - Haware Meadows - in Neral. This project will be known for its construction quality, world-class design and eco-friendly features. Haware Meadows is a Rs 200 crore project and features 1,000 units, starting for around Rs 13.56 lakh. The builder promises to give luxury amenities such as community centre, yoga room, basketball, squash courts, swimming pools, mini cricket ground, and state-of-art gymnasium, at a low price range.

MMRDA to begin eight-lane Virar-Alibaug corridor soon
February 22, 2018

The Mumbai Metropolitan Region Development Authority (MMRDA) will soon finalise the Detailed Project Report (DPR) for the eight-lane Virar-Alibaug Multi-Modal corridor. The corridor would be constructed in two phases. The phase-I of the proposed road project will run between Navghar situated in Vasai to Chirner near Jawaharlal Nehru Port Trust (JNPT) and the second phase would be constructed between Chirner to Alibaug. The plan has also been included in the draft regional plan 2016-2036 of the Mumbai Metropolitan Region (MMR). Officials have stated that the 126 km-long Multi-Modal corridor is expected to reduce travel time between Virar and Alibaug by…

Press Release

Sai Estate Consultants wins Rs 300 crore worth inventory for Lotus Projects
February 21, 2018

Sai Estate Consultants wins Rs 300 crore worth inventory for Lotus Projects21st February 2018 Mumbai-based brokerage firm, Sai Estate Consultants Chembur Private Limited (SECCPL) acquired the sales mandate for Rs 300 crore-worth inventory for its upcoming Lotus projects in Oshiwara and Versova. With this project, SECCPL forayed into the luxury affordable segment, which will offer a high class lifestyle to homebuyers at reasonable rates. The project is RERA compliant (RERA ID P51800006403) and possession is expected by September, 2020.

Centre to offer pocket-friendly air flights by 2022
February 20, 2018

The Prime Minister, Narendra Modi, has laid the foundation stone of the new international airport, Navi Mumbai International Airport, which has been stalled for the last 20 years. The Navi Mumbai airport will become operational at a humongous cost of over Rs 16,700 crore. Apart from this, the country's largest container terminal at Jawaharlal Nehru Port Trust (JNPT) has been inaugurated. The development of the terminal has incurred Rs 4,719 crore. The aviation sector will perform great in the coming years. The Government is committed to transform the aviation sector by making air travel affordable by 2022, adds Modi. In…

Maharashtra housing board to redevelop 165 dilapidated buildings
February 19, 2018

The Maharashtra government is all set to redevelop over 165 buildings in Mumbai. The State housing board has identified only those buildings where redevelopment projects have not completed or remained unfinished for the last 10 years or more. There are over 22,000 cessed properties in the city located in Colaba, Nariman Point, Mahim, and Sion. Of these, around 2,000 have been redeveloped by MHADA and 4,000 by private developers. The State government had announced the redevelopment policy for authorised tenanted buildings in Mumbai and suburbs. The decision was made when a building collapsed and caused 50 deaths. The Brihanmumbai Municipal…

Page 1 of 98