The case was that of homebuyers Jignesh R Khemani and Gulab R Khemani, who booked a flat in a project named ‘Ruparel Skygreens I’, located at Borivli. The project was registered by the builder with MahaRERA. The Maharashtra Real Estate Regulatory Authority (MahaRERA) has allowed aggrieved homebuyers to withdraw from
The Slum Rehabilitation Authority (SRA) and Maharashtra Housing Area Development Board (Mhada) have issued notices to change developers of redevelopment projects stuck for more than five years. While SRA has directed appointment of new developers for 517 slum rehabilitation schemes caught up prior to 2014, Mhada has issued notices to
If 2020/21 was the year of ‘consolidation’ in Mumbai real estate, 2022/23 will be the year of ‘de-consolidation’, as smaller developers rebound with a ferocity that seemed unimaginable until recently. Everyone knows the superstars of Mumbai real estate. One of my constant endeavours, however, has been to discover the hidden
The sale and supply of luxury homes reached a new high in Q1 2022, with the highest sales and supply in three years driven by pent-up demand, benign interest rates, and stable prices, as per a report by Anarock property consultant. Luxury property accounted for 12% of overall sales in
More than 26,000 house registrations have been recorded in the last quarter of the financial year 2021-2022 (January 2022 to March 2022). City developers have called the numbers good for the real estate market As per the Maharshtra Chamber of Housing Industry (MCHI-Navi Mumbai), total 26,484 houses sales were recorded
It remains a point of discussion that ‘Are affordable houses really affordable?’. Housing being the basic need of the citizens, Governments across the world have been focussing on the providing low-cost housing schemes . In the wake of Coronavirus and its resultant challenges, both the need for affordable houses and
Rising costs are depressing demand and hitting profits Following India’s financial media, one gets the impression that the revival of the country’s real estate sector is just around the corner, with top companies reporting robust sales. But according to the official statistics, India’s construction sector actually contracted by 2.8% in
According to MMRDA officials, the Monorail route passes through congested and residential areas like Mahul bay, Wadala bridge road and Curry Road railway station. The Mumbai Metropolitan Regional Development Authority (MMRDA) is planning to set up an emergency passenger evacuation system on the Mumbai Monorail, which runs between Sant Gadge
According to a survey conducted by Credai, almost 40 percent developers have said that they won’t be able to sustain and deliver projects if no immediate measures are taken to provide relief
Residential real estate projects launched after the introduction of RERA are witnessing an average delay of 10-18 months, while the delay in projects launched prior to RERA, ranges from 20-48 months Delays in residential real estate projects have historically been one of the key challenges faced by the sector. Such
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