MHADA to use summary powers to force un-cooperative residents of BDD chawl out – ET RealEstate

File photo MUMBAI: The Maharashtra Housing and Area Development Authority (MHADA) wants to invoke summary powers to evict BDD chawl residents who are not cooperating with its redevelopment project. A senior MHADA officer, on the condition of anonymity, has confirmed that a proposal has been sent to the Urban Development Department (UDD). Once the department […]

Mumbai: Prabhu Niwas’ residents in lurch as BMC issues demolition notice – ET RealEstate

MUMBAI: Eighteen families residing in the four-storey, Prabhu Niwas building in Vile Parle (east) have been hunting for rental accommodations after civic officials issued a demolition notice two weeks ago. The 60-year old, dilapidated building can’t be redeveloped. The reason? It is located in the vicinity of the Mumbai airport, but, more importantly, it stands […]

Brookfield may acquire 50% stake in RMZ Corp for about Rs 5,600 crore – ET RealEstate

BENGALURU: Brookfield Asset Management, the Canadian alternative investment firm, is said to be planning to invest $500-800 million (Rs 4,000-5,600 crore) in RMZ Corp to buy up to 50% stake in the Bengaluru-based developer’s business parks, people familiar with the matter said. RMZ is expected to create a special purpose vehicle (SPV) to house about […]

Yes Bank takes possession of Anil Dhirubhai Ambani Group’s headquarters in Mumbai – ET RealEstate

MUMBAI: Private lender Yes Bank has taken possession of Reliance Centre, the headquarters of the Anil Dhirubhai Ambani Group (ADAG) in Mumbai. Possession notices were issued regarding the 21,000 sqft building and two floors in Nagin Mahal in South Mumbai, newspaper advertisements showed. The possession of the building took place as on 22 July under […]

More consumers keen on home ownership over renting despite Covid-19 challenges: Survey – ET RealEstate

Real estate is emerging as a preferred investment asset class in the backdrop of economic uncertainty and rising stock market volatility with over 50% of consumers considering buying a new home in the next six months, showed a JLL India survey. The survey was conducted online covering over 2,500 prospective homebuyers from Mumbai Metropolitan Region, […]

Top eight property markets see 5.4% decline in Q1 average prices – ET RealEstate

MUMBAI: The Covid19 pandemic, subsequent lockdowns and its impact on economic growth have resulted in correction on property prices. Top 8 Indian property markets have witnessed an average 5.4 per cent drop in prices from a year ago during April-June, showed data from Liases Foras Real Estate Rating & Research. On Sequential basis, weighted average […]

Mumbai: 450 families kept out of Riddhi Siddhi Corporation’ SRA project since March – ET RealEstate

File photo MUMBAI: From finding their newly-constructed Slum Rehabilitation Authority (SRA) flats in Mulund turned into shelters for stranded migrant labourers and then into a quarantine centre for high-risk contacts of Covid-19 patients, 450 families have been left to fend for themselves for the past four months. The families have accused the builder of skipping […]

Mumbai: After 15 years wait, 36 Chembur residents get possession of their flats – ET RealEstate

MUMBAI: A builder on Friday literally gave 36 Chembur residents the key to happiness amid worries the pandemic has wrought on many. Rajesh Dedhia handed over keys to their new flats, for a fit-out, in a redevelopment project, to the families who waited 15 years, after their original builder, Shekhar Dadarkar, failed to finish it. […]

Mumbai: Western Railways declares 20 residential buildings unsafe – ET RealEstate

MUMBAI: The Western Railway has declared one service and twenty of its residential buildings dangerous to inhabit. According to WR, this decision has been taken according to the structural audit reports submitted by VJTI (Veermata Jijabai Technological Institute) recently. However, workers union said it is just a ruse to handover the buildings to builders through […]

Guardians Real Estate Advisory buys 7,500 sq ft in ONE BKC for about Rs 30 crore – ET RealEstate

MUMBAI: The Guardians Real Estate Advisory has bought a 7,500 sq ft office space at commercial complex One BKC in Mumbai’s business district Bandra-Kurla Complex (BKC) for around Rs 30 crore. The real estate non-broking consultancy firm has picked up this office space in tower C of the building and plans to use this as […]