La Nina, construction worsen air quality; spike in respiratory ailments.
And Sachin Tendulkar came by to cheer!
Housing market in Mumbai Metropolitan Region recording worst half-yearly performance since global financial crisis in 2008 has worsened the situation for them
Home prices across the top six cities are set to jump 6-10 per cent this fiscal and 3-5 per cent in the next financial year because of a steep rise in raw material, labour and land costs, and relatively favourable demand-supply dynamics, a report said on Thursday. The report by Crisil also said large residential realtors are on course to log a robust 25 per cent sales growth in 2022-23 and 10-15 per cent in the next fiscal. The unsold inventory level is down to 2.5 years from four years pre-pandemic, and this has credit profile of the large realtors strengthening, the report said.
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.
A senior official from the urban development ministry said that allowing four floor space index within a 500 metre from the station will help the developer to bring down the viability gap funding because he will be able to make profits from the excess FSI. This will also allow the state government and the BMC to generate funds for infrastructure projects.
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.
Mumbai metropolitan region, comprising Mumbai city, Navi Mumbai and Thane, leads the pack (in delayed projects) with 210,000 units at an approximate valuation of Rs 2.34 trillion.
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.
Expresses inability to provide land for train terminal in Bandra-Kurla Complex, a cash cow for MMRDA
The high court order meant that government can start from Thursday the process of recalibration of e-meters of autos and taxis in Mumbai and its metropolitan region.
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.
Following an assurance from the state government that their grievances would be looked into, the strike -- which was to begin on Tuesday -- has been pushed back.
Maharashtra Chief Minister Prithviraj Chavan is agreeable in principle to this tax, but the government is yet to take a decision.
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.
However, the realty players will have to pursue their long-pending demands with the state government for abolition of the Urban Land Ceiling Act, speedy approvals to expedite redevelopment of Maharashtra Housing and Area Development Authority buildings, development of cluster development, rental and affordable housing.
Nearly one lakh autorickshaws went off the roads in Mumbai on Wednesday during a day-long strike to press for regulation of app-based cab sevices, hitting commuters hard with many stranded in several places across the metropolis.
On Tuesday, the state-run Mumbai Metropolitan Region Development Authority, the planning body, indicated that it expected to award the contract before December, which would pave the way to kick start construction in the same month.
He also said that it had been decided to give the houses to the MLAs at a certain price and not free of cost.
The Bombay high court on Wednesday refused to interfere in Maharashtra government's move to hike fares of taxis and auto rickshaws based on the recommendation of the now-scrapped Hakim Committee.
The total demand has remained subdued mainly due to high interest rates and property prices.
Bombay HC stays proposed Metro fare hike till Jan 29.
The major milk-producing districts of Kolhapur, Sangli, Satara, Ahmednagar and Nashik supply bulk of the stock to Mumbai and Pune.
'We immerse our Ganpati in a bucket at home and use that water for our plants.' 'That way, our Ganpati always remains with us.'
Several on-site labourers in the city want to take special trains being run to transport workers back home. The rising number of COVID-19 cases in the city has caused anxiety among them.
Mumbai has reported total of 83,237 cases and 4,830 deaths to date.
Housing sales hit an all-time high this year to nearly 3.65 lakh units across seven major cities, beating the previous high of 2014, on strong demand for residential properties despite a hike in mortgage rates, according to Anarock. The prices of residential properties have risen in the range of 4-7 per cent primarily due to an increase in the input costs and demand comeback post-COVID, it said. Releasing the demand-supply data of India's top residential primary (fresh sale) markets, property consultant Anarock said that the housing sales rose 54 per cent this year to 364,900 units as against 236,500 units in 2021 across the seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
In a first, a public transport facility is beating its own drum.
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 Central anti-drug agency had filed the draft charges last month in the Special Narcotic Drugs and Psychotropic Substances Act Court against 35 accused, the details of which were made available on Tuesday.
The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
R-Infra in its argument had told the high court that it was losing upto Rs 85 lakh a day despite being used by nearly 250,000 commuters
The state reported 346 deaths, taking the fatality tally to 21,033, said the health official.
Local trains have been off bounds for the general public since March last year due to the coronavirus pandemic.
A total of over Rs 1,641 crore of premium is pending against five lease holders of MMRDA
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.
A 5% increase is expected due to additional interest on approval costs.
MMOPL has already taken a decision to extend the fare slab of Rs 10 to Rs 40.
Godrej Properties (GPL) reported strong pre-sales of Rs 22,500 crore in FY24, up 84 per cent year-on-year (Y-o-Y). The performance was led by new launches, which increased 65 per cent to Rs 23,000 crore in FY24, and contributed 70 per cent to total pre-sales. The sales volume increased 31 per cent Y-o-Y to 20 million square feet (msf), while realisation rose 40 per cent Y-o-Y, driven by contribution from high-realisation markets of National Capital Region (NCR) Delhi and Metropolitan Mumbai Region (MMR) and positioning in the premium segment.
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.
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