Speaking at a video conference to take a stock of damage caused by the cyclone in the coastal district which is adjacent to Mubai, Thackeray also directed that electricity supply be restored quickly.
The Maharashtra government on Sunday extended till June 30 the lockdown in the entire state, and announced easing of restrictions and phase-wise resumption of activities under the "Mission Begin Again".
Here's what's buzzing in Mumbai if you are looking out for real estate appreciation...
The Indian Meteorological Department, meanwhile, warned of intense spell of 30 to 50 mm rainfall per hour with strong winds in Mumbai and suburban areas.
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.
The Centre and the Shiv Sena-led Maha Vikas Aghadi government in Maharashtra are locked in a tussle over ownership of the land earmarked by the state for constructing the car depot which was earlier planned at Aarey Colony, a green belt in suburban Goregaon.
These projects will be undertaken by BMC, Mumbai Metropolitan Region Development Authority, Maharashtra State Road Development Corporation.
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.
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'.
Most of these projects were launched between 2008 and 2010
In a controversial move, the Bharatiya Janata Party-Shiv Sena government in Maharashtra has decided that autorickshaw permits in future will be issued to only those who can speak Marathi language.
The two western states, already battling a raging pandemic, which has put their health infrastructure under severe strain, opened new fronts to tackle the fallout of the storm which is expected to make a landfall close to Mumbai on Wednesday. They are likely to be impacted most by the cyclone.
Who are the politicians who either build illegal housing or protect them, or worse, secure compliance from the civic officials who wink at the contraventions? More importantly, where is the blacklist of builders who have indulged in rule-breaking as a business practice so that the buyers can avoid their projects, asks Mahesh Vijapurkar.
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.
The demand for affordable housing is 535,400 units.
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.
A 58-year-old man died after a power transformer fell on him in Raigad district. 2 people died and 3 were injured in two separate cyclone-related incidents in Pune.
These cities are -- Mumbai Metropolitan Region (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
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.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
The Maharashtra Health Minister said that the rise in the number of patients is a major cause of concern and people's cooperation is needed to fight out the outbreak.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
Shiv Sena has so far expressed concerns over car shed for the city's planned metro network, the bullet train and the West Coast refinery projects.
The opposition has been critical of the Centre's handling of the situation, accusing it of not doing enough to ease the hardships of the migrant workers, many of whom have lost their jobs during the lockdown which started on March 25.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
Realty plans hit roadblock; delay could hit modernisation
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
50 per cent of the flashlights market in the country is dominated by Chinese imports, which have been increasing.
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.
Infra experts say govt will first need to figure out how to exploit real estate along the proposed routes.
Analysts, however, suggest investors remain selective on realty stocks and buy only where there is revenue visibility and a credible promoter backing.
She also demanded that the inquiry be completed within six months and the case be heard by a fast-track court.
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The state government's notification, which was issued earlier in the week, quoted the civil aviation ministry's letter urging quick rehabilitation of slum dwellers due to security threat.
Although markets such as Mumbai and some places in the national capital region have continued to see a slowdown in the property markets over the last three years, developers were pinning their hope on the festive season.
Easing of restrictions came even as Maharashtra continues to registered a record number of new coronavirus cases with no flattening of curve in sight in the state.
Real estate developers are increasingly reducing the size of apartments to make these affordable at a time when property markets are going through a prolonged slowdown.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
Last week's slum fire at Bandra east highlights the stark difference between the two sides of the neighbourhood's railway station. But Piyush Goyal can change it, says Anil Singh.
Housing sales are estimated to rise 93 per cent year-on-year during April-June across seven major cities, but may fall 58 per cent compared to the previous quarter due to the adverse impact of the second wave of COVID-19, according to property consultant Anarock. Sales are likely to be around 24,570 units across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune, Anarock said. Sales of residential properties stood at 12,740 units in April-June 2020 and 58,290 units in March quarter 2021.
