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  • Severe Decline in Demand for Luxury Real Estate

    A survey by global real estate consultancy Cushman and Wakefield (C&W) has revealed that average capital values of luxury properties in posh localities across major metros have fallen by 10%-20% during the last three months. Residential rental values for the same segment have also been affected, with some locations witnessing a drop as high as ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 13, 2009
  • MMRDA Plans Alternative Biz Hubs

    As two main business districts of the city have reached a saturation point, the Mumbai Metropolitan Regional Development Authority (MMRDA) is planning to acquire 1.84 crore sq mt of land to set up alternative business hubs to build new rental housing projects and other facilities. The acquisition of 11 plots across the Mumbai Metropolitan Region ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 13, 2009
  • 88,222 Forms Sold by MHADA

    The first day of the housing projects introduced across Mumbai by the Maharashtra Housing and Area Development Authority (MHADA) received an overwhelming response. It reflected that slump or no slump, there is still a huge demand for houses if the price is right. MHADA sold in a day 88,222 forms, over 20 times the 3,863 flats available. The flats ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 13, 2009
  • Akruti To Focus On Affordable Home Projects

    Mumbai-based developer, Akruti City, which was mainly into development of hospitality, retail and township projects, has decided to shift its focus to affordable homes. Under the brand name, 'Just Perfect Homes', the developer will develop homes priced at Rs 22-32 lakh. These affordable residential projects will be completed in 2-3 years. ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 5, 2009
  • Housing For All, A Dream That Might Come True Soon

    Housing for all has remained an elusive goal in a country which is seeking to become a global economic power. The current economic crisis offers an opportunity to turn this dream into reality. The slump in realty, created by the global economic slump, has already driven many developers to increasingly look to build affordable houses for the lower ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on February 5, 2009
  • Property Taxes In South Mumbai Get Real

    Many people residing in South Mumbai pay 0.32 paise as property tax a sq ft a month. Even a resident of a MHADA transit camp in a suburb pays a property tax of Rs 1.65 per sq ft a month. This will get real from now on as there will be a greater parity in the property tax assessment in the city and suburbs. The state assembly has passed an ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on January 25, 2009
  • Mhada Invites Buyers For Low-Cost Houses

    For those looking for affordable homes in Mumbai, Maharashtra Housing and Area Development Authority (MHADA) has announced a sale of 3, 863 flats built by it. Ranging from 225 sq ft to 870 sq ft, the prices of these flats vary from Rs 3.5 lakh to Rs 45 lakh depending on the size and location. The homes will be allotted depending on the income of ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on January 25, 2009
  • NHB Launches Housing Price Index in 5 Indian Cities

    In a move that is expected to bring transparency to the real estate market, finance minister P Chidambaram launched the official Housing Price Index, developed by India's home loans regulator, the National Housing Bank. Named as NHB Residex, the index has been introduced as a pilot for five cities-Bangalore, Bhopal, Delhi, Kolkata and Mumbai. ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 18, 2008
  • DLF to Invest Rs.1000 Crores in Multiplex Business

    Real estate giant DLF is likely to invest about Rs 1,250 crore on expanding its multiplex business, DT Cinema, by adding about 500 screens in the next four to five years. Currently, DLF is at a pre-operative stage with about seven screens. In another four to five years time, the target is to have 500 screens across India. By September this year, ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on September 18, 2008
  • Mumbai Flat Auctioned at a Record Price- Rs.1.25 Lacs for a Sq.ft!

    India Shining!, remember the Slogan used by BJP during its past government?, here is a BJP  person who has Proved this Literally. Cinestar and BJP MP Vinod Khanna has bought a residential apartment at Malabar Hill, in the tony South Mumbai area, from Citibank for Rs 1.25 lakh a sq ft. Khanna has paid Rs 31.25 crore for the 2,500 sq ft flat. ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on May 22, 2008
  • ETA Star to Invest Rs.1,500 crores in Mumbai

     Chennai-based real estate developer ETA Star Property Developers, a part of $4 billion ETA Ascon group based in the UAE, will build a Rs 1,500 crore mall in Mumbai's Juhu area. The construction work will begin in January 2008. ETA has formed a 50:50 joint venture with Supra Estates, to develop the 10 acre plot (450,000 sq ft) into a ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on December 13, 2007
  • Top bids worth Rs 2,790 crore for BKC plot in Mumbai

    Mukesh Ambani promoted Reliance Industries Limited, Wadhwa Builders, TCG Infrastructure and Hiranandani Constructions have emerged as the leading bidders for the three Bandra-Kurla Complex (BKC) plots in Mumbai measuring 75,350 square metres. The total value of the top bids is Rs 2,790 crore. Milind Mhaiskar, joint metropolitan commissioner and ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on November 29, 2007
  • Navi Mumbai SEZ to include Co-Developers

    The Government has cleared seven co-developers in Mukesh Ambani-promoted Navi Mumbai SEZs, thus endorsing fresh investment through private equity players by a key partner of the RIL Chairman. "The Board of Approval gave a green signal to the Navi Mumbai SEZ proposal subject to their producing data on net assets of the co-developers," ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • IMP Powers Bagged Rs65 Crore Order from Maharashtra State Electricity Board

    Makers of electricity meters and transformers IMP Powers has bagged an order worth Rs 65 crore from a renowned EPS Contractor for supply to Maharashtra State Electricity Board. Under the contract IMP Power will supply EHV Transformers of 132 and 220 kv class, the company informed the BSE today. The company plans to execute the order in the next ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on October 23, 2007
  • One Of The Largest Investments Made By JP Morgan

    Realty focused private equity funds are committing big money, when it comes to project financing. And so far JP Morgan's USD 360 has made its largest investment so far in an IT park in Navi Mumbai. The fund will invest Rs 100 crore or over USD 25 million in the development. It is said that JP Morgan's property fund will buy 40% in the 4.5 ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on October 19, 2007
  • DLF debuts on BSE at premium to issue price

    Mumbai, India, July 05, 2007 - Indian Real estate major DLF Ltd saw its stock close at a 8.6% premium to the IPO price of Rs.525 on the first day of trading on the BSE. The stock saw a low of Rs.505.60 and a high of Rs.714.25 on opening day. DLF is already amongst the top 10 companies traded on Indian exchanges based on its ...
    Posted to India Real Estate News Weblog (Weblog) by 248075 on July 13, 2007
  • Luxury Retail Malls to Debut in India

    This year will see international luxury brands like Gucci, Armani, Versace, Dolce & Gabbana etc. set shop in India, inside malls that will be exclusively catering to upscale, premium lifestyle brands. With 4-5 luxury malls coming up in India, a deluge of international lifestyle brands is set to descend upon the country this year. According to ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on April 16, 2007
  • Bombay Dyeing in Talks with Starwood Hotels for 2 hotels in Mumbai

    Bombay Dyeing is foraying into hospitality with two hotels at Worli and Dadar in Mumbai. The company is in talks with Starwood Hotels & Resorts, for its brands like Sheraton, W Hotels and St Regis. Bombay Dyeing is also talking to Peninsula Hotels, which runs seven luxury hotels in the world. The Peninsula Hong Kong is considered the ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on April 10, 2007
  • Reliance Industries is in hurry on its Special Economic Zone (SEZ) projects

    Reliance Industries is in too much of a hurry on its Special Economic Zone (SEZ) projects, if the Maharashtra government officials are to be believed. Land acquisition is always a touchy issue and the company could have tried to demonstrate what it could do through an SEZ, they said. Senior state government officials said that the company could ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on April 10, 2007
  • Omaxe to Set Up Wedding Malls

    New Delhi April 2 Find a soul mate, walk into a mall and get out married. Welcome to the new age of speciality malls. With the objective of differentiating themselves from the intense competition, mall developers are setting up malls that offer products and services catering to specific needs. Wedding malls Omaxe Ltd is setting up `Wedding ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on April 10, 2007
  • Power Costs More for Malls in Mumbai

    Power supply to plush shopping malls, stadium floodlights and city hoardings, has become dearer as the Maharashtra Electricity regulatory Commission (MERC) has proposed a steep tariff hike. MERC in its order on the annual revenue requirement (ARR) and tariff revision proposal, filed by the Brihanmumbai Electric Supply & Transport (BEST) ...
    Posted to India Real Estate News Weblog (Weblog) by 233134 on April 10, 2007
  • Limitless set for foray into India property sector

    DUBAI — Limitless L.L.C., the global integrated real estate development arm of Dubai World, yesterday said it was poised for foray into the booming Indian property market. Amid reports circulating in India about a $10-12 billion joint venture between a Dubai-based company and India's property major DLF, a Limitless spokesman yesterday ...
    Posted to India Real Estate News Weblog (Weblog) by 475368 on March 23, 2007
  • Land banks come under SEBI scanner, 7 crore land Evaluated for 44 Crores!

    MUMBAI: In the surreal world of property valuations, this one perhaps takes the cake. A real estate company wanting to buy a piece of property roped in a reputed international consultant to do the valuation. The consultant, eager to oblige, submitted a document valuing the property at Rs 4 crore. The company trumpeted the number to an investor, ...
    Posted to India Real Estate News Weblog (Weblog) by 475368 on March 23, 2007