Real Estate Mumbai

Mumbai A BMC proposal seeks to completely overhaul the transfer of development rights (TDR) policy to make it more equitable, in a move that is expected to have far-reaching repercussions on the city’s development plan. In his plan which is to be submitted to the state government soon, BMC chief Subodh Kumar has proposed that TDR be allowed anywhere in the city, not be restricted to the...

Mumbai The BMC is set to miss another deadline for implementation of the capital value-based property tax regime. In March 2010, the legislature had approved a switchover from the rateable value system of computing property tax to the capital value-based system. The civic body was initially expected to introduce the system from April 1, 2010. However, with the BMC unable to frame business ru...

Mumbai The state may use a new model for redevelopment of old and dilapidated buildings in the island city. To encourage composite or cluster-wise redevelopment of 16,000-odd cessed buildings, the state plans to prepare a master plan, which will be incorporated in the new development plan of Mumbai. So far, private developers are allowed to redevelop cessed buildings according to their own pl...

Mumbai With paucity of land and increasing land prices impacting the supply of affordable houses, the state has decided to explore the option of providing subsidy on the cost of land. According to sources, the state housing department has plans to bear up to 25% of the cost of land acquired for creating affordable houses. Besides government and semi-government agencies like Mhada, BMC, Cidco...

Mumbai Mumbai Pune Expressway is emerging as an upcoming real estate growth corridor. It is India’s first six-lane concrete, high-speed expressway covering over 93 kms of area connecting Mumbai with Pune. The expressway starts at Kalamboli (near Panvel) and ends at Dehu Road (near Pune) reducing the travelling time between the two cities to approximately two hours. Presence of scenic be...

Mumbai In a city prized for its real estate, it may be of interest to many that over 4.6 lakh of the city’s nearly 42 lakh Census houses are lying vacant, reveals districtl evel data from Census 2011. Also, 10.5% of houses in the island city are lying vacant compared to 8.5% a decade ago. About 1.5% of houses were locked at the time of the Census count, which could be because all family ...

Mumbai Maharashtra Housing and Area Development Authority (Mhada) will soon invite proposals for joint ventures (JVs) from private players to generate affordable housing in the city. As per a new policy, land owners/developers in lieu of transferring the ownership to Mhada will be given a higher share of the floor space index (FSI) of 2.5 permitted on Mhada lands. Developers will now get 1.75...

AHMEDABAD: Gujarat Pradesh Congress Committee has alleged that land acquired for the Narmada project has been transferred to the relatives of BJP ministers. Manish Doshi, GPCC spokerperson said in Amarda village, the state government acquired land for construction of the Narmada canal. Payments were also made to the farmers in 1997. Due to a technical issue, the canal was constructed f...

Online market V/s Offline Market As we are living in the 21st century, we need to have everything planned, organized and easy to work on. There are lots of people from all over the world prefer purchasing stuffs from their nearby places/ markets but there are almost 21% of the population prefer online market rather than that of their local markets.  The continuous demand and popularity of...