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 maximum inventories are in 1 and 2 BHK configurations totaling 587,500 units.
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.
Housing sales have jumped over two-fold during July-September period at 62,800 units across seven major cities on better demand driven by low mortgage rates and hiring in IT/ITeS sector, according to property consultant Anarock. Sales of residential properties stood at 29,520 units in the year-ago period and 24,560 units in the previous quarter. The seven cities tracked by Anarock are Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Red signal for Mumbai Metro Phase II.
PropEquity, the real estate data analytics and research firm, attributed the fall in absorption in these markets to lack of demand from investors.
During this summer, Indian travel buffs are opting for destinations that provide an escape from the ominous heat, along with coastal regions within the country and countries offering visa-free travel.
Hazare, who reached Mumbai on Monday night from his village Ralegan Siddhi, paid respects at Mahatma Gandhi's statue in Juhu before proceeding to the fast venue, MMRDA ground, in suburban Bandra in a rally.
Bollywood veteran actor Anupam Kher visited Mumbai Metropolitan Region Development Authority to express his support to Team Anna and passage of Jan Lokpal Bill. Toral Varia Deshpande speaks to Anupam Kher.
Town planning authority MMRDA on Tuesday said that nearly 150 patients at its COVID facility in Bandra Kurla Complex (BKC) have been shifted to another location as a precaution in the wake of the Nisarga Cyclone which is expected to make a landfall close to the city on Wednesday.
Housing sales rose 36 per cent year-on-year to a record 120,280 units across seven major cities during the July-September period on robust demand amid stable mortgage rate, according to Anarock. Housing sales stood at 88,230 units in the year-ago period across the seven major cities. Releasing the data, real estate consultant Anarock said average housing prices across the seven cities grew 11 per cent annually in the July-September period this year.
Property sizes are shrinking in Mumbai.
Many government departments, including Mumbai Metropolitan Region Development Authority, Revenue and Forest, Brihanmumbai Municipal Commission, Home, Environment Ministry, Public Works Department and Uran Land department, were issued summons directing them to produce before the commission, all documents pertaining to the scam-hit Adarsh Society on Monday. However, except BMC, all the departments sought one week's time to submit all the files along with an index.
The security at the ground of Mumbai Metropolitan Regional Development Authority in suburban Bandra-Kurla Complex will comprise 2,000 constables, 200 sub-inspectors of police, six platoons of state reserve police force, three teams of Quick Response Team and two Bomb Detection and Disposal Squads.
The United States has approved the extradition of Tahawwur Rana, accused of involvement in the 2008 Mumbai terror attacks, to India. The decision was announced by President Donald Trump during a joint press conference with Prime Minister Narendra Modi in the White House. India is currently working on the logistics of Rana's surrender and extradition, with several final steps to be completed before he is sent back to India. The joint statement issued by India and the US during Prime Minister Modi's visit reaffirmed their commitment to fighting terrorism and eliminating terrorist safe havens. The leaders also called on Pakistan to bring to justice the perpetrators of the 26/11 Mumbai and Pathankot attacks. Rana, a Canadian national of Pakistani origin, is currently lodged at a metropolitan detention center in Los Angeles. He is associated with Pakistani-American terrorist David Coleman Headley, one of the main conspirators of the 26/11 attacks.
Housing sales in seven major cities rose 5 per cent annually to about 1.2 lakh units during the April-June period, while demand fell 8 per cent from the preceding quarter on surge in prices, according to Anarock. Real estate consultant Anarock, which is one of the leading housing brokerage firm, on Thursday released the data of housing market for the current April-June quarter. In April-June 2024, housing sales across seven major cities are estimated at 120,340 units, up 5 per cent from 115,090 units in the year-ago period.
The Mumbai Metropolitan Region Development Authority (MMRDA) on Friday said it has initiated an enquiry into Thursday night's mishap where two girders of an under-construction bridge on Eastern Freeway collapsed leading to the death of one person and injuring eight others.
The Mumbai town planning agency has said it can't spare land in the commercial BKC area for a terminal due to demand from private firms
While Mumbai is home to India's costliest real estate, Thane is the fastest growing housing market in the country
The housing inventory overhang in the top seven cities in India stood at a five-year low of 20 months at the end of the January-March quarter, data from real estate consultancy Anarock showed on Monday. It was the highest at 55 months in the quarter ending December 2020. The inventory overhang is the amount of time it would take to sell the current housing listings in an area. A lower overhang denotes higher demand in a particular area.
The death toll rose to 3,717 with 127 new deaths being recorded on Friday.
The real estate sector wants "high-impact" measures, like special schemes and tax breaks for developers, to revive the fortunes of the affordable housing segment in the country, multiple executives told Business Standard. This segment has been struggling since the Covid-19 outbreak, in contrast to larger and costlier homes which have been selling like hot cakes. The demand comes at a time when the government is taking suggestions from industry players before tabling the General Budget in the Parliament next month.
The power failure comes at a time when the state is reeling under power deficit.
'Netflix, Amazon Prime Video, Crunchyroll, and Disney+ Hotstar are continuously expanding their Anime libraries.'
Members of the controversial Adarsh Housing Society on Monday approached the Bombay high court, challenging the cancellation of the Occupation Certificate and the cut in electricity and water supply. The Society's occupation certificate was cancelled by the Mumbai Metropolitan Region Development Authority and its power and water supplies were cut by the civic body on November 3 after it was revealed that the building was constructed in alleged violation of civic rules.
Coming down heavily on Team Anna's agitation, the Bombay high court on Friday said it can't allow "parallel canvassing" when Parliament is seized with debate on Lokpal Bill and questioned its decision to seek exemption from charges to use MMRDA grounds for Anna Hazare's proposed fast.
Housing sales rose 8 per cent annually during the April-June period to 80,250 units across eight major cities, mainly on increased demand in Mumbai and Pune, according to PropTiger. Sales stood at 74,320 units in the year-ago period across primary (fresh sales) residential markets of the top eight cities. The housing brokerage firm on Wednesday released its Real Insight Residential - April-June 2023 report, stating that housing sales rose in three cities Mumbai, Pune and Ahmedabad but declined in other five major cities -- Delhi-NCR, Bengaluru, Hyderabad, Chennai and Kolkata.
Following the success of the Rs 4,050-crore Wadala land deal in central Mumbai, at least three government agencies are planning to sell plots worth at least Rs 60 billion (Rs 6,000 crore) in the next two months.
Anna Hazare, who is suffering from fever, on Tuesday refused to give up his fast despite requests from close aides.
The Mumbai Metropolitan Region Development Authority on Tuesday received huge response for its Iconic Tower in Wadala (a Mumbai suburb) with Lodha Crown Buildmart Pvt Ltd quoting more than double the reserve price of Rs 40,000 per sq mt.
Starlight Systems, a unit of Piramal Sunteck Realty, has sought a four-year staggered payment option to pay Rs 496 crore (Rs 4.96 billion) for two plots it won in the financial district of Mumbai in the last financial year.
Check out the winners and the entertainers of two star-studded nights.
Pressure is mounting on Reliance Infrastructure to change the name of metro rail project, with a senior minister in the Congress-NCP led Maharashtra government joining the chorus of Opposition leaders making similar demand.
Flight operations at the Mumbai airport were suspended for nearly half an hour as visibility dropped well below the required 550 meter-mark
The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
The government will provide necessary land at a nominal rate.
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.
'Some buyers believe prices may correct in the future.' 'This is unlikely. Many developers are increasing prices amid strong sales and inflationary trends.'
CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months. Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. "We expect housing industry demand to grow around 12 per cent in 2024 and for large developers to outpace industry to grow at 15 - 20 per cent.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances