Twenty-six coronavirus patients died during the day, taking the death toll to 485, a state health department statement said.
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.
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.
Speaking to reporters in Thane, Pawar accused the Narendra Modi government of failing to fulfil any of the promises made by it since 2014 including bringing 'acche din, connecting villages through the internet, and providing toilets, water, and power to every household'.
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.
Mumbai has reported total of 83,237 cases and 4,830 deaths to date.
The NCR and the MMR together account for 77 per cent of 10 big housing projects stuck because of developers' bankruptcy or litigation.
A 5% increase is expected due to additional interest on approval costs.
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.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
Taking a cue from neighbouring Gujarat and its successful Vibrant Gujarat summit, Maharashtra has organised a conclave -Transforming MMR into a Global Financial, Commercial and Entertainment Hub - on February 6.
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.
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.
The MRSAM is an advanced path-breaking air and missile defence system that provides ultimate protection against a variety of aerial platforms. Defence experts say that it can shoot down enemy aircraft at a range of 50-70 km.
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.
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.
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.
Mumbai's property markets, where prices earlier crossed Rs 1 lakh per sq. ft in South Mumbai, are seeing a 20-25 per cent markdown from last year's levels.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
Local trains have been off bounds for the general public since March last year due to the coronavirus pandemic.
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.
A day after reporting 4,092 COVID-19 cases, highest single-day tally in more than a month, Maharashtra saw the daily count fall on Monday but it remained above 3,000 for the sixth straight day as the state government termed the situation as 'alarming' and warned of 'harsh decisions' after the recent spike.
The death toll rose to 3,717 with 127 new deaths being recorded on Friday.
As per the fifth round of the NFHS, there are 1,020 women for every 1,000 men.
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.
Property sizes are shrinking in Mumbai.
The weather department on Wednesday issued a rain 'red alert' warning for Mumbai and adjoining areas and asked the authorities to be prepared to handle any situation.
The cyclone is likely to bring heavy rainfall in its wake in parts of Maharashtra, Gujarat and Goa. The light showers/drizzle in parts of Mumbai city, its suburbs and neighbouring districts of Thane and Palghar on Monday morning brought some respite to people from the sweltering heat and humidity.
The maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
Thackeray held a meeting on the issue and instructed authorities concerned to ensure there is no recurrence of the episode, an official statement said.
Most of these projects were launched between 2008 and 2010
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
In the latest guidelines, the BMC clarified that no garden or play area equipment, swings and bars will be allowed to operate during the lockdown period, till June 30.
The five southern states source 10-15 per cent of their revenue from excise duty on liquor but account for nearly half of the total consumption, says a report. The financial position of these states is precarious as the coronavirus lockdown completely dried up this crucial liquidity tap for them in April.
The sector's performance in delivery also saw a decline -- only 23.5 per cent of the committed units were delivered during the first six months of this year, show data from research firm PropEquity.
Home sales in the top 10 cities - Ahmedabad, Bengaluru, Chandigarh, Chennai, Hyderabad, Kochi, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - have declined at a compound annual growth rate of 8% since 2011.
As per the latest Sample Registration Survey data, Infant Mortality Ratio (IMR) has reduced to 47 in 2010 from 58 in 2005 and maternal mortality ratio (MMR) had declined from 254 in 2004-06 to 212 in 2007-09.
Locations such as Chembur, Ghatkopar, Navi Mumbai and Andheri will be the future growth centres.
Frontline healthcare staff, people over the age of 80 and care home workers will be among the first to get the vaccine as part of Phase 1 of the programme from Tuesday, which was approved for rollout by the UK's independent regulator earlier this week.
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