On 21 May, 2024, the State cabinet approved in principle the acquisition of Ghatkopar-Versova Mumbai Metro One owned by Anil Ambani and Mumbai Metropolitan Region Development Authority (MMRDA). Ambani’s stake is estimated around ₹4,000 Crore. Mumbai Metro One was the first metro that was undertaken under the Build-Operate-Transfer (BOT) policy
Real estate analysis is a crucial strategic tool for guiding stakeholders through market changes. A solid grasp of trends is essential to predict movements, prices, and market sentiment. Economic variables such as employment rates and GDP growth significantly influence land development. Government initiatives, including housing programs and regulations, play a
The Mumbai Metropolitan Region Development Authority (MMRDA) is set to introduce a new monorail prototype to its fleet by the monsoon season. This new rake has already arrived in Mumbai and is currently undergoing trial runs. Presently, the 17-kilometer monorail line, that runs from Chembur-Wadala to Sant Gadge Maharaj Chowk
Brihanmumbai Municipal Corporation (BMC) Commissioner and state appointed administrator Bhushan Gagrani, who ceased his tenure of two months this week, said on Tuesday that the visible transformation that Mumbai is noticing owing to its infrastructure development will result in the maximum city’s socio-economic transformation. Bhushan was seen interacting with reporters
With barely any land properties left in the western suburbs of Mumbai, residential apartments are being built through redevelopment of older properties. This is being observed in areas like Borivali, Kandivali, Malad, Khar, Bandra and Santacruz. The developer has to issue the property owners under redevelopment, housing another residence, resulting
Mumbai Suburbs’s Real estate prices may increase by approx 25% in next year due to a hike of Transferable Development Rights (TDR) rates. In the eastern suburb of Mulund, TDR rates have risen from ₹3,500 per square foot 6 months ago, to ₹6,000 per square foot. Likewise, in western suburb
Prabhadevi based project Rustomjee crown phase One, delayed possession to the complainant with every month till the actual date of possession of the flat to the complainant, MahaRERA has directed the promoters of the project to pay interest. The developer guaranteed the hand over of the said flat in December
After being in limbo since 2017, the redevelopment of Topiwala Market in Goregaon West near Goregaon railway station has kicked off with the BMC floating a ₹ 151-crore tender. The ground plus 16 storey building is being designed by architect Shashi Prabhu and Associates. Two contractors have changed hands over the
The Mumbai-Pune Expressway will remain closed for vehicular traffic on May 23, Thursday, from 12 PM to 1 PM, due to installation work of a gantry along the Yashwantrao Chavan Mumbai-Pune Expressway by the Maharashtra State Road Development Corporation (MSRDC). The work is being undertaken as part of the Highway
The government of Maharashtra is looking to address the issue of high premiums levied by the authorities on real estate development projects in Mumbai, the country’s commercial capital. The state’s Housing Minister Atul Save is planning to soon convene a meeting with key stakeholders from the state’s Finance Ministry, Urban
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