628 real estate developers are being examined by MahaRERA for failing to include their QR code and RERA registration number in their marketing
On July 8, the Maharashtra Real Estate Regulatory Authority, or MahaRERA, said that it had fined developers of 628 real estate projects ₹88.90 lakh for failing to include the RERA registration number and QR code in their marketing. According to MahaRERA, of the 628 real estate projects, 312 are located in the Mumbai Metropolitan Region, […]
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 […]
From Luxurious to Economical: Bandra West real estate market flourishes in May
Bandra West, a wealthy and multicultural district located in western Mumbai, is well-known for its sophisticated way of life and lively culture. This hip area, which has tree-lined avenues, heritage bungalows, and modern high-rises, blends old-world beauty with contemporary conveniences. Bandra West is known for its vibrant nightlife and entertainment, with many of cafés, restaurants, […]
Booms in luxury real estate: 41% of all homes sold in India are now valued at more than Rs 1 crore
Driven by a strong economy and rising desire for opulent living, India’s residential real estate sector is booming. According to a recent Knight Frank research titled “India Real Estate: Residential and Office (January – June 2024),” sales of residential units increased significantly in the first half of 2024 (H1 2024) in all eight of India’s […]
Impact of the Mumbai Trans-Harbour Link on the City’s Real Estate Market
The enormous infrastructure project known as the Mumbai Trans-Harbour Link (MTHL) is expected to have a profound impact on Mumbai’s real estate market. The proposed link between Sewri in Mumbai and Nhava Sheva in Navi Mumbai is expected to improve connectivity and accessibility, which would change the dynamics of real estate in the surrounding area. […]
Five property developers are placed under judicial custody till July 1 by the court for defrauding a 64-year-old widow of ₹1 crore
A designated court on Friday ordered five “Suchit Developers” partners to judicial custody until July 1 in connection with an alleged Rs. 1 crore fraud against a 64-year-old widow who was defrauded of her Bandra West apartment that she purchased in 2005. The investigation officer (IO) is allegedly working in concert with the accused, Lachman […]
Developers in Maharashtra will not be permitted to deposit buyers’ money into separate accounts as of July 1
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 to be able to request […]
Government Relieves Residents After Extending CIDCO Amnesty Scheme Until August 15 Owing To Election-Related Delays
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 place until June 30, 2024. […]