Eldeco & HDFC Capital announce fresh funding to develop residential projects across India
Eldeco Infrastructure and Properties Limited (EIPL), a prominent player in North India’s real estate sector, and HDFC Capital Advisors Limited (one of the largest real estate fund managers in India) have announced the latest round of funding of Rs 350 crore towards their joint platform aimed at developing residential projects across India. With this funding, […]
Registration of properties in Mumbai rises 8% in March 2024
Registration of properties in Mumbai city has gone up 8 per cent so far this month to around 14,150 units compared to March last year, reflecting strong demand, according to a report. Real estate consultant Knight Frank said the registration of properties in Mumbai city (area under BMC jurisdiction) has reached nearly 14,150 units by 6.30 pm on March […]
Bandra-Worli Sea Link toll rates to surge from today
Those using the iconic Bandra-Worli Sea Link will have to shell out more from April 1. Maharashtra State Road Development Corporation (MSRDC) officials told mid-day that one-way toll rates for one-way journeys will be increased by 18 per cent. According to the MSRDC officials, the new toll rate for those travelling by car and jeep will be […]
MMRDA to switch power supplier for mono, metro services
The Mumbai Metropolitan Region Development Authority (MMRDA) has decided to switch over from Tata Power to a cheaper power supplier for the Monorail and Metro corridors 2A and 7. The decision has been taken owing to a steep hike Tata Power’s tariffs effective April 1. As per the existing tariff schedule for 2023-24, the rate […]
State approves CIDCO’s redevelopment policy for NAINA
The state government has approved the policy for the redevelopment of dilapidated buildings in the Navi Mumbai Airport Influence Notified Area (NAINA) region, that had been stuck due to NAINA regulations. While the state government has permitted 30% extra area, the villagers are demanding at least 2.5 FSI (floor space index) to make redevelopment projects […]
Mumbai Metro Rail contractors owe Rs 370 cr property tax
The Brihanmumbai Municipal Corporation (BMC) has officially announced that there are Rs 370 crore due in pending property tax with Metro railway contractors for their casting yard. The civic body has sent notices to these contractors to pay these dues before the end of the financial year. The BMC is focused on recovering pending property tax as […]
State Govt Paves Way For Redevelopment Of Old Buildings In NAINA
Providing a big relief to the people in run up to the general elections, the Maharashtra government has cleared the way for redevelopment of hundreds dilapidated buildings in gram panchayats that fall in Navi Mumbai Airport Influence Notified Area (NAINA). Accordingly, the state government recently issued a GR giving respite to those staying in villages […]
Dharavi Redevelopment: Survey Commences, Each House Receives Unique ID For Rs 23,000 Crore Makeover
The eagerly awaited survey work for the Dharavi Redevelopment Project (DRP) kicked off in Kamala Raman Nagar on Monday (18 March), marking a significant milestone in the ambitious initiative. Initiating the process, each house in the area was assigned a unique identifier, setting the stage for a comprehensive laser survey, commonly known as Lidar survey. […]
MahaRERA Proposes Three Bank Accounts For Mumbai Real Estate Projects
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is proposing a significant change for real estate developers in Mumbai. To ensure better oversight of project funds and protect buyer interests, MahaRERA has released a discussion paper outlining a new system involving three separate bank accounts for each project. Three Accounts for Better Monitoring Under the proposed […]
Dharavi redevelopment survey begins, 105 houses surveyed
The Dharavi Redevelopment Project Private Limited (DRPPL), a joint venture between the state government and Adani Realty, began its survey on Monday to collect data from lakhs of slum dwellers in Dharavi. On the first day, it surveyed around 105 tenements. “This is an important day for us,” said S V R Srinivas, Officer on […]