As on July 1, developers in Maharashtra will have to keep specific bank accounts open for payments from buyers, citing a directive from the Maharashtra Real Estate Regulatory Authority (MahaRERA). The goals of this policy are to safeguard the investments of homeowners and improve financial discipline and openness. Developers used
The Dharavi Redevelopment Project Pvt Ltd (DRPPL) has already requested 1,255 acres from different government entities; it is currently looking for tenements. The state government established the DRPPL, a special purpose vehicle in which Adani Realty is the principal developer. The DRPPL has established a 334-tenement requirement. According to DRPPL
In the first quarter of 2024, sales of luxury homes see a sharp increase in Mumbai, the financial hub of India. Nearly 85,000 residential units were sold between January and March 2024, up 8% from the same period the previous year, according to a recent report from CBRE South Asia.
The Maharashtra government recently revealed an updated schedule for finishing the first phase of Mumbai Metro 3. The project’s original completion date of September 2024 has been pushed back to December 2024. Chief Minister Eknath Shinde presided over the state cabinet meeting when this decision was made, according to a
In the eastern suburbs of Mumbai, Vikhroli West is developing into a thriving residential and commercial district. The area has seen substantial development in recent years, marked by the erection of multiple high-rise apartment buildings, gated communities, and corporate headquarters. Its strategic location near important thoroughfares and the suburban train
To discuss several urgent challenges in the CIDCO and NAINA regions, the City and Industrial Development Corporation (CIDCO) called a critical meeting with developers from the CREDAI-MCHI, Navi Mumbai. Leading the discussions, CIDCO Joint Managing Director Shantanu Goyal covered a number of important subjects. One major concern raised was the
You would discover that the wider MMR region, the Mumbai metropolitan area, and Thane in particular, have been among the largest or strongest rising real estate markets over the previous two years. The real estate markets in Bangalore and Delhi used to expand quickly in the past, but in the
The amnesty programme run by the Estate Department of the City and Industrial Development Corporation (CIDCO) has been extended by the Maharashtra government till August 15, 2024. The program, which offers a 50% discount on late payment fees and additional leasing amount in addition to a time extension, is in
The Right to Fair Compensation and Land Acquisition Act, 2013 mandates the BMC adhere to certain procedures if it want to build a public garden on a portion of a church-owned plot of land in Borivali (W), close to the Mandapeshwar caves. On June 21, Justices Girish Kulkarni and Arun
Pod taxis will soon operate in Mumbai between Bandra and Kurla, according to recent news sources. The launch of a pod taxi service in the Bandra-Kurla Complex (BKC) area has reportedly received approval from the Mumbai Metropolitan Regional event Authority. This is a noteworthy event as it is the first
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