Notably, after coming to power in November 2019, the then MVA government scrapped certain policy decisions of its predecessor BJP-Shiv Sena government led by Fadnavis.
The power failure comes at a time when the state is reeling under power deficit.
With 56,794 COVID-19 cases and 1,742 deaths so far, the Mumbai Metropolitan Region, which includes Mumbai city, Mumbai suburban, Thane, Palghar and part of Raigad district, is the worst affected by COVID-19 in the state.
Housing sales across seven major cities are estimated to fall 47 per cent year-on-year to 1.38 lakh units this year on lower demand because of the COVID-19 pandemic, according to property consultant Anarock. New housing supply, too, is likely to fall 46 per cent to 1.28 lakh units in 2020 in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
A 5% increase is expected due to additional interest on approval costs.
'Dharavi will be completely slum free by 2040'
Housing sales are likely to rise by 30 per cent across seven major cities to nearly 1.8 lakh units in 2021, but demand will still be lower than the pre-COVID levels, according to property consultant Anarock. According to Anarock research, housing sales are expected to increase 30 per cent year-on-year (y-o-y) to 1,79,527 units across seven cities in 2021 from 1,38,344 units last year. In 2019, housing sales stood at 2,61,358 units across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
The government also stated that the people working in essential sectors must be fully vaccinated and should have completed the 14 days post-inoculation before they can be allowed to board local trains.
A recent report by Citi had pegged the total amount stuck in stalled projects across seven major Indian cities (Bengaluru, Mumbai Metropolitan region, National Capital Region, Ahmedabad, Hyderabad, Kolkata and Pune) at Rs 80,000 crore.
Encouraged by a steady recovery seen in the first two weeks of February, hospitality firms expect the business hotels in metros including Mumbai, Bengaluru, Chennai, Kolkata and Hyderabad that have been lagging the leisure hotels in terms of revenue per available room (RevPar) to catch up in the coming months. Huge pent-up demand for MICE (meetings, incentives, conference and exhibitions) as companies slowly return to hosting physical events coupled with easing of the recently announced restrictions on international travel, will also help in getting closer to pre-Covid levels of revenue, they said. The Omicron wave that peaked in January had derailed the strong month-on-month recovery seen by the hotels since August.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
Highlighting that mutation in a virus is a natural phenomenon, the civic body said citizens should do not panic and appealed to them to follow COVID-19-appropriate behaviour.
A separate standard operating procedure will be issued by the tourism department for precautions to be taken while operating these establishments, an official release said.
Thackeray was speaking virtually after the inauguration of a water taxi service, linking Navi Mumbai to south Mumbai, and the Belapur jetty in the neighbouring township.
'It is a well-thought-out decision. I feel it is difficult for him now to step back.'
Mumbai Metropolitan Region recorded housing sales of nearly 9,200 units in Q3 of calender 2020, against 3,620 units in the preceding quarter, registering a 1.5 times growth which is the highest growth seen any city except Chennai.
The 102-acre government land at Kanjurmarg was handed over to the MMRDA on October 6.
Uddhav said the protesters were citizens standing up for future of the planet.
Three major cities in south India -- Bengaluru, Hyderabad and Chennai -- dominate India's office market with the contribution of 66 per cent of the total demand for office space during the last financial year 2020-21, according to Anarock report. The consultant noted that the main southern office market has overtaken other regions in terms of new supply, net absorption, and even rental growth. Among the top-seven cities, Bengaluru, Hyderabad and Chennai saw their share of total office leasing increase to 66 per cent in the 2020-21 fiscal year as against 47 per cent in FY18.
This will facilitate availability of at least 2,400 more beds for patients in the city, the BMC said.
About 7 per cent was priced between Rs 3 crore and Rs 5 crore, 22 per cent priced between Rs 5 crore and Rs 8 crore, and 15 per cent above Rs 8 crore.
The entire Mumbai Metropolitan Region has reported 21,925 cases and 718 deaths.
The red alert was issued for the second consecutive day. Rains have been lashing Mumbai and adjoining districts since Tuesday night.
Maharashtra energy minister said the power breakdown in the metropolis was "not a small issue".
Average apartment size in residential projects launched in 2020 increased by 10 per cent to 1,150 sq ft, as builders expected demand for bigger flats to rise after the COVID-19 pandemic, according to property consultant Anarock. Average apartment sizes in seven major cities have risen by 10 per cent on a yearly basis to 1,150 sq ft in 2020 from 1,050 sq ft in 2019, it said in a report. The consultant said the average apartment sizes were reducing year-on-year since 2016 but the trend has reversed last year.
'Uddhav has told the cops to crack down hard on the MNS agitation if MNS activists try to vitiate the communal harmony in the state.'
MahaRERA, the authority under Real Estate (Regulation and Development) Act, 2016, in Maharashtra, has blacklisted 644 housing projects in the state for not meeting project deadlines. The authority has prohibited them from being sold, advertised or marketed in the state. These projects were supposed to be completed and handed over to homebuyers in 2017 and 2018. Even though most of the projects are being developed by local developers, one big name on the list is Lavasa Corporation promoted by HCC whose registration expired in 2017.
In a base case, the consultant said that sales could drop 25 per cent to 1.96 lakh units this year from 2.61 lakh units in 2019 across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.
Twenty-six coronavirus patients died during the day, taking the death toll to 485, a state health department statement said.
The COVID-19 tally in Maharashtra till Wednesday night stood at 25,922 and the number of fatalities at 975, with Mumbai alone accounting for 15,747 cases and 596 deaths.
The COVID-19 hospital has a 190-bed ICU, 1,536 beds with oxygen facility, an ICU for children, a 20-bed dialysis unit, a 40-bed triage and a 384-bed isolation room with a total of 2,170 beds, the MMRDA said in a release.
Union officials said with increasing possibility of further extension of the coronavirus-induced lockdown, several auto and taxi drivers are going to their native places in their black and yellow coloured auto rickshaws and taxis.
Maharashtra so far has 52 coronavirus positive cases, while one Covid-19 patients died in Mumbai this week.
Local trains have been off bounds for the general public since March last year due to the coronavirus pandemic.
Worli and Mahalaxmi in Mumbai Metropolitan Region are placed at second and third positions with average housing prices of Rs 41,500 and Rs 40,000 per sq ft, respectively.
Maharashtra is exploring the option to develop a mass-rapid transit system in the regions to improve transport system.
Housing sales across seven major cities in the country fell 35 per cent year-on-year to 50,983 units during the July-September period even as the demand recovered post lockdown, according to data analytics firm PropEquity. Sales stood at 78,472 units in the year-ago period in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Over the weekend, many companies stepped in to ease the bottleneck in supply and transportation of oxygen, as demand ran high with the surge in cases.
In Mumbai city alone 1,008 patients have been detected as per the state health department, of which 64 died.
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