'Developers have started offering 70% to 100% extra area and beyond.' 'If the market cycle shifts -- as many are already predicting with signs of price saturation and reduction -- most recent redevelopment projects will unravel.'
Gaikwad, who was Dharavi MLA before being elected to the Lok Sabha in the 2024 general polls, also alleged the redevelopment project was real estate's biggest scam.
Such gaming zones and recreational facilities have come up without the necessary approvals from competent authorities, the bench of Justices Biren Vaishnav and Devan Desai observed.
India does not have the facilities needed for developing advanced aerospace products. There is only one wind tunnel in the country, the almost six decade old one in the National Aeronautics Laboratory.
The Supreme Court on Monday dismissed a plea challenging the Bombay high court verdict that directed the Mumbai civic body to demolish the unauthorised construction at Union minister Narayan Rane's bungalow in the Juhu area, noting that there was a violation of the Floor Space Index and Coastal Regulation Zone rules.
The Bombay high court on Tuesday directed the Mumbai civic body to demolish the unauthorised construction at Union minister Narayan Rane's bungalow in Juhu area in Mumbai, noting that it violated the Floor Space Index (FSI) and Coastal Regulation Zone (CRZ) rules.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
New development rules trigger rush of festive-season launches, firms also offer goodies to woo buyers.
A sharp rise in construction and funding costs will increase costs for builders and prevent a reduction in home prices.
To compensate for the loss of free-of-FSI areas, fungible FSI to the extent of 35 per cent for residential development and 20 per cent for industrial and commercial developments has been allowed with premium.
Fresh rules to trigger a number of project launches in the metro, say analysts.
The Maharashtra government has scrapped its policy to grant additional floor space index (FSI) for public parking in Mumbai city under its Development Control Regulations 33 (24). The government had notified the extra FSI for parking one-and-a-half years earlier following a rise in vehicle population and the need for parking in the city.
It is under the blessings of politicians that builders and the criminal-builder nexus is thriving.
Under these regulations, it will be mandatory for new buildings to use green technologies for recycling dry waste and drainage water, vermiculture for treatment of wet waste, solar energy and above all rainwater harvesting.
Top Satyam executives accelerated sales of their shares in the company in close to three months before the company's aborted December 16 bid to buy two developers controlled by Ramalinga Raju's family.
Darryl D'Monte, editor of MARG's latest title 'Mills For Sale: The Way Ahead', on why everybody should be concerned about the controversial mill land redevelopment issue
The students gathered in front of the campus as part of a call for 'Chalo HCU' given by Joint Action Committee for Social Justice of HCU to intensify their ongoing agitation demanding removal and arrest of vice chancellor Appa Rao Podile (who resumed as VC on March 22).
In a significant development, the Bombay High court on Monday set aside the sale of 600 acre of surplus textile mill land by National Textile Corporation in prime locations.
There are over 16,000 cessed buildings in the city that are in need of urgent redevelopment.
While Mumbai is home to India's costliest real estate, Thane is the fastest growing housing market in the country
The government has received flak for allegedly shielding the corrupt ministers and slow pace of investigation in irrigation scam.
Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them
Gurgaon and Mumbai, the richest cities in Haryana and Maharashtra, respectively, have always been the preferred markets for investors. Most parts of these cities are beyond the reach for those looking for affordable homes.
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Quoting the FIR registered on the basis of a complaint, the Economic Offences Wing of Mumbai said accused Nailesh Mehta of Dev Developers in Andheri pretended himself as the partner of Zoomi Construction Company by preparing fake documents and acquired the latter's rightful TDR from the Slum Rehabilitation Authority.
Call it an expectation of revival in the real estate market or improving liquidity, bulge bracket property deals have made a comeback in the country's commercial capital.
If your child is spending too much time online, an Internet de-addiction clinic can help him or her use technology in a healthy manner, reports Indulekha Aravind.
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Chairman Anand Mahindra spoke to Business Standard on affordable housing.
Recent statistics show that the situation is no different across the country with several hospitals lacking the infrastructure to manage a breakout of a blaze.
Experts trace the reasons for the 26/11 attacks to the Pakistan's military interest in three key areas: Kashmir, Afghanistan and nuclear armaments.
'The Chennai floods in particular clearly show there is a nexus between corruption, disaster, destruction and death.' 'Urban development in India is the source of all corruption.'
Defence Secretary R K Mathur should take to Prime Minister Narendra Modi just five simple measures that would create or catalyse dramatic improvements across the wider defence arena, says Ajai Shukla.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
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