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 […]
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. […]
June 2024 sees an 11% YoY increase in Mumbai property registrations and a 15% increase in stamp duty collections
In June 2024, the number of property registrations in the Mumbai real estate market increased by almost 11% to 11,443 from 10,319 the previous year, as to the data released by the Inspector General of Registration and Controller of Stamps of Maharashtra. There were 12,000 property registrations in the Mumbai real estate market as of […]
In the last 24 months, Mumbai’s home prices have increased by 20.4%
The most recent PropIndex Report from Magicbricks indicates that sustained demand and constrained supply have contributed to a 20.4% increase in Mumbai residential prices over the previous two years. The average residential rates rose 6.5% QoQ to INR 26,780 psf, according to the survey. Mumbai became one of the most opulent markets in the nation […]
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 Are Not Allowed to Deposit Home Buyers’ Funds Into Separate Bank Accounts Per MahaRERA
According to the Maharashtra Real Estate Regulatory Authority (MahaRERA), developers in the state will be required to maintain separate designated bank accounts for the purposes of receiving payments from home buyers, so they will not be able to take money from buyers and deposit it in different bank accounts as of July 1, 2024. Currently, […]
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 […]