As global and domestic economies continue to flounder, vacancies at many existing and new commercial properties across India's commercial capital have risen to 30-50 per cent levels from 14-15 per cent in 2009.
The Air India board gave a formal approval to the proposal on Thursday.
The carrier has debt of Rs 43,000 crore.
The Mantralaya inferno and how it played out, from inside the building, on the street, and in the blame game afterwards, elaborates Sanjay Jog.
Reader V Arun Kumar has sent us a photograph.
Out of 23 floors, Air India occupies six and three of these have been leased out. The rest are largely unused.
A model was found murdered in her ground floor apartment in Andheri West in Mumbai late on Monday. Bidushi Dash Barde, 23, a former beauty queen from Chennai, was alone at home throughout the day and did not answer any of his calls, claimed her husband Kedar Barde.
In ITC, LIC has invested Rs 38,358.66 crore, according to Capitaline data.
As counting of the ballot for 542 Lok Sabha seats for the world's largest democracy is underway, the Bharatiya Janata Party is surging ahead of all its rivals. With early trends in favour of the BJP, party workers and supporters burst into celebrations at various party offices as well as its headquarters in New Delhi. Workers distributed sweets, raised slogans and were seen dancing on the beats of drums at various places.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
With over Rs 55,000 crore debt, Air India management has been trying to pare burden by monetising non-core real estate properties.
Currently, 60 per cent of the vehicular traffic is taken care by the Western Express highway
Industrialist Anil Ambani met Maharashtra Chief Minister Prithviraj Chavan in the backdrop of reports that the Maharashtra State Road Development Corporation (MSRDC) was mulling a coastal road from Worli to Haji Ali and from Haji Ali to Nariman Point.
Many have downgraded EPS estimates for the Sensex in FY12.
Every Mumbaikar's grouse is that he/she missed a chance of becoming a millionaire.
Fugitive diamantaire Nirav Modi's sister and brother-in-law have "turned approvers" in the over $2 billion PNB fraud case against him and they will help the Enforcement Directorate confiscate assets worth Rs 579 crore, including Swiss bank deposits, the agency said on Thursday. Forty-nine-year-old Nirav Modi, who is currently lodged in a London jail, his uncle Mehul Choksi and others are being probed by the Enforcement Directorate (ED) in the Punjab National Bank (PNB) money laundering case since 2018. The diamond merchant's younger sister Purvi Modi (47) is a Belgian national while her husband Maiank Mehta is a British citizen. They are stated to be based abroad and have never joined the probe.
Earlier, its attempts to monetise properties, including the 22-storeyed Air India building in Nariman Point, saw lukewarm response.
'Rahul Bhai was well known for speaking the truth.' 'He did not accept anything he considered wrong.'
K Unnikrishnan, father of the National Security Guard commando Major Sandeep who died fighting terrorists during the 26/11 terror attack, on Friday led a peace march in Mumbai in memory of those who were killed during the carnage two years ago.
Fire brigade officials said the fire broke out on the ninth floor of Mittal Towers.
How did Mumbai tightly control the case-spread deaths while Delhi so obviously did not? And what do the answers imply regarding preparedness for the third wave, asks Omkar Goswami.
All set to celebrate its victory, the scene at Bharatiya Janata Party office in Mumbai was of joy. Senior leaders of the BJP came out in full support and celebrated their victory. They were already flashing the victory sign.
For the younger Bajaj sibling, life after Bajaj Auto is all about revving up the financial services business.
Bringing an end to the furore over naming the bridge, the Public Works Department issued a resolution on Wednesday naming the sealink after the former prime minister.
Catamaran service from Borivali to Nariman Point at Rs 250.
Air India vacates posh Berkeley Square space, will it leave Nariman Point?
We invited readers to send in their interesting summer snapshots. Here are a few more responses -- and you can share yours too!
Office space on mill land in central Mumbai expected to reach 16 mn sq ft by 2021.
A communication goof-up between Vijay Mallya-promoted Kingfisher Airlines and its banker saw a cheque of Rs 12,975 bounce, much to the embarrassment of the country's largest private carrier, which promptly arranged a bank draft for the recipient.
Indiabulls plans to redo the main Mantralaya building, the administrative building opposite to it and around 50 row bungalows, which currently house judges and ministers, to make way for a few iconic buildings of seven-star category.
Till a few days ago, executives at the banks that have been designated points of presence to register subscribers and receive contributions, did not even know about the scheme.
Paa director R Balki recalls the era when writers like Salim-Javed controlled the film.
Kurla alone will add office space that is three times that of Nariman Point.
Delhi's Connaught Place is the 6th most expensive location in the world.
In the 1990s, Lufthansa's market share was plunging as were its revenues. Its turnaround strategy holds good lessons.
Slumdog Millionaire is contrived, pretentious, absurd, hollow, inauthentic, a pseudo-statement about social justice. And yet today the film stands on the precipice of Hollywood's highest honour, the Academy Award for Best Picture.
Kamala Das was one of the finest and truest poets of her generation.
The Oberoi Group, which is reopening 100 rooms of the Trident portion on Sunday, said on Saturday that the Oberoi portion, badly damaged in the November 26 terror attack, would take six to seven months to start business.
The taxi driver that took us back to office remarked, "Two days there was no traffic on the streets, today the crowds are back.
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