The State Government’s Housing Policy for PAPs is welcomed by CREDAI-MCHI
The state cabinet approved a policy requiring the provision of flats to people displaced by ongoing infrastructure projects during its meeting on Wednesday, marking a significant step toward resolving the housing needs of Project-Affected Persons (PAPs). CREDAI-MCHI, the leading association of real estate developers in the Mumbai Metropolitan Region (MMR), has praised and supported this […]
MMRDA Invites Bids for Ghodbunder Road Expansion
To tackle the heavy traffic congestion on Ghodbunder Road in Thane, the Mumbai Metropolitan Region Development Authority (MMRDA) has issued a tender for a significant road expansion project. This initiative aims to alleviate the chronic gridlock in the area. Earlier this month, during a meeting chaired by Chief Minister Eknath Shinde, the MMRDA approved the […]
Push for MMR metro lines
The Mumbai Metropolitan Region (MMR) has saw an expansion of two additional metro train lines. The second phase of the two metro lines, 5 and 9, which will run in the eastern and western regions of the MMR, will be enhanced thanks to the efforts of the Mumbai Metropolitan Region Development Authority (MMRDA). Five significant […]
Mumbai Metropolitan Region to See Increase in RERA-Certified Estate Agents
With the third batch of real estate agents preparing for the online examination conducted by the Maharashtra Real Estate Regulatory Authority (MahaRERA) on November 22, the Mumbai metropolitan region is set to welcome a steady stream of MahaRERA-certified agents. A total of 5,592 candidates have completed the required preliminary training, making them eligible for the […]
MMRDA Invites Bids for Six Key Infrastructure Projects to Alleviate Congestion
On Tuesday, the Mumbai Metropolitan Region Development Authority (MMRDA) invited bids for six significant new infrastructure projects aimed at reducing congestion in the Mumbai Metropolitan Region (MMR). Primarily focused on Thane, these projects had their tenders issued several months ago. The initiatives include the expansion of the Eastern Freeway from Chedda Nagar to Anand Nagar […]
MMRDA Replaces Cidco as SPA for Palghar and Raigad
Four months after appointing the City Industrial Development Corporation (Cidco) as the special planning authority (SPA), the state government has designated the Mumbai Metropolitan Region Development Authority (MMRDA) as the new SPA for 172 villages in the Palghar and Raigad-Alibaug area. This marks the eleventh area where MMRDA has been assigned SPA responsibilities. In a […]
Government of Maharashtra Approves New Road to Reduce Traffic on GB Road
The Maharashtra government has approved the building of a new route with the goal of reducing traffic on Mumbai’s GB route. Eknath Shinde, the Minister of Urban Development for Maharashtra, gave his consent, which is a big step in the right direction to relieve traffic congestion in one of the busiest areas of the city. […]
MMRDA to Fund Infrastructure Projects with Rs. 500 Billion
The Mumbai Metropolitan Region growth Authority (MMRDA) has approved the issuance of bonds worth Rs 500 billion to fund many infrastructure projects that would improve the region’s urban growth and connectivity. With this decision, MMRDA has committed a substantial amount of funds to accelerating the execution of important infrastructure projects, including as road networks, metro […]
Mumbai’s residential property prices have increased by around 50% during the last five years
According to a survey by Anarock, the average price of a home in the Mumbai Metropolitan Region (MMR) has increased by around 50% over the last five years. It ascribed the notable upsurge to increased demand in the cities and surrounding areas. The average cost of a home in the Mumbai Metropolitan Area increased by […]
A research from MMR predicts a 5% increase in house sales in FY24
The Mumbai Metropolitan Region’s (MMR) apex body, CREDAI-MCHI, stated in a report created in collaboration with CRE Matrix that overall home sales in the MMR increased by 5% in FY24 compared to FY23, demonstrating the region’s innate demand for residential properties despite a difficult economic climate. The report’s main conclusions show that South Mumbai has […]