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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 ...

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 ...

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 ...

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. ...

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 ...

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 ...

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 ...

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. ...

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, ...

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. ...

 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 ...

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 ...

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," ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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) ...

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 ...

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, ...