NAVI MUMBAI BUILDER
New home supply falls 13 pc in Apr-Jun as builders launch fewer projs due to polls: PropEquity
PropEquity data shows that new housing supply in April-June is estimated to fall to 97,331 units across nine major cities as against 1,11,657 units in the year-ago period.
Unsold housing stock up 24 per cent in top 7 cities, builders need 22 months to sell: Report
Unsold housing stocks in seven major cities have risen by 24 per cent since 2019, totaling about 4,68,000 units in March 2024. However, realty firms are expected to sell them 31 per cent faster due to high sales velocity, according to JLL India. The time to sell the active unsold inventory has decreased from 32 months in 2019 to just 22 months in Q1 2024, driven by a surge in housing demand.
Mumbai's electoral bond love: 66 companies collectively bought Rs 1,344 crore of poll bonds since 2019
66 companies from Mumbai region bought electoral bonds worth Rs 1,344 crore since 2019, 11% of India's total poll bonds sold. Small businesses participated, Maharashtra's share was Rs 1,562 crore. Pune, Nashik, Kolhapur made contributions. Analysis excluded Mumbai individuals' bond purchases.
Navi Mumbai builder loses Rs 60 lakhs in online trap; Here's what happened
A cyber fraud incident unfolded in Navi Mumbai as a builder fell victim to an impersonation scam, resulting in the fraudulent transfer of Rs 60.6 lakh from his office. The cyber police station is probing into the case, and no arrest has been made so far.
NCLT admits insolvency plea against Shah Builders
Canara Bank had moved the bankruptcy court against the developer in 2020 following its default on loans worth nearly ₹100 crore including interest thereon. The account was declared a non-performing (NPA) in December 2016. The tribunal has appointed Srigini Rajat Naidu as the resolution professional to undertake insolvency proceedings against the developer.
Mumbai & suburbs, Bengaluru and Delhi-NCR most searched for properties on Magicbricks
According to the report, the affordable housing market thrived in Ahmedabad and Kolkata, whereas MMR and Delhi-NCR led the demand for luxury homes. While rental market demand remained stable across most cities, Bengaluru exhibited remarkable growth, elevating its demand share from 21% in 2022 to 24% in 2023.
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Woman impersonates real estate agent, swindles Rs 1.87 crore from 6 home buyers in Mumbai
A woman in Mumbai is facing legal action after allegedly scamming home buyers out of Rs 1.87 crore by posing as a real estate agent. The accused, who claimed to represent a renowned developer, promised homes in a peaceful area of Navi Mumbai but failed to deliver. When the victims tried to contact her, she had disappeared, prompting them to file a complaint with the police. An investigation is now underway to uncover the full details of the scam.
The Dissapearing 1BHKs: Why finding small flats has become so difficult in Mumbai
The availability for 1BHK apartments in Mumbai has dropped significantly from 115 to 71 in just one year. This shift can be attributed to lifestyle changes accelerated by the pandemic, with remote working and co-living arrangements becoming more common. People now seek more spacious homes that cater to evolving needs, such as dedicated workspaces or hobby areas.
MahaRERA cautions homebuyers against 308 projects facing insolvency proceedings
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has alerted homebuyers to over 308 real estate projects that are under insolvency or bankruptcy proceedings in key property markets including Mumbai, Navi Mumbai Thane, Pune, and rest of Maharashtra. While the inventory of 115 ongoing and 32 completed projects were more than 50% sold and registered, 193 projects’ registration had lapsed.
INS Vagir ready to face any threat: Indian Navy
While Commanding Officer CDR Divakar S told ANI, "INS Vagir can be deployed both closer to the shore as well as mid-ocean. It will be ready to meet all the requirements of the Navy and the country. It is a big step towards becoming Atmanirbhar Bharat. This is the fifth Kalvari class submarine."
Realty hot spot: Prominent suburb near Mumbai with residential apartments by renowned builders
Vashi has several employment hubs as well as residential apartments by renowned builders.
Imprisonment can't extend beyond 25 years: Supreme Court seeks Centre's response on plea by Abu Salem
Advocate Rishi Malhotra, appearing for Abu Salem, submitted that life imprisonment awarded to Salem is against the assurance given by the Indian government to Portugal from where he was extradited.
Param Bir Singh appears before CID over its probe in 2 extortion cases
Former Mumbai police commissioner Param Bir Singh appeared before the Maharashtra Criminal Investigation Department (CID) on Monday to record his statement in connection with two extortion cases registered against him, an official said. Following a notice issued by the CID, Singh reached its office at Belapur in neighbouring Navi Mumbai around 3.30 pm, he said.
CIDCO nets over Rs 525 crore through auction of 11 plots in Navi Mumbai’s Kharghar
The bids for all 11 plots are nearly 2 to 4 times higher than the reserve price set by the authority. All land parcels are located in sector 11 of Kharghar and will be open for both commercial and residential development.
Indian Navy to commission submarine INS Vela on Nov 25
"The Indian Navy's fourth stealth Scorpene class submarine, INS Vela, is geared to get commissioned on 25th November 2021," the Navy said in a statement. The submarine has been built by Mumbai-based Mazagon Dock Shipbuilders Ltd in collaboration with M/s Naval Group of France.
History of lure of easy money into the rank and file of the Mumbai police
In 2003, a high-profile NCP minister, Chaggan Bhujbal, was brought down by allegations of corruption in the home department he was heading. Bhujbal claimed that he was quitting after his supporters vandalised a TV channel for running a satirical programme.
Indian Navy's third Scorpene class submarine commissioned
INS Karanj is the third Kalavari-class submarine to be commissioned into the Navy. The diesel-electric submarines based on the Scorpene design are also referred as Scorpene class submarines.
Realty developers stage protest to demand regulator for cement, steel sector
The protest was aimed at the attention of the government authorities towards alleged cartelisation and unnatural price hike by cement and steel manufacturers in the last few months.
CIDCO to auction 106 plots in Navi Mumbai for residential development
Any entity including the citizens, builders, small or big developers looking to develop bungalows, row houses and residential buildings can bid for these plots through e-auction.
National consumer commission orders builder to pay Rs 48 lakh for undelivered Rs 8 lakh flat
“The appellant (Singhal) would be entitled to get Rs 47.6 lakh. The opposite party (Sudradh Constructions Pvt Ltd) is directed to pay this amount within a period of 45 days, failing which this amount will attract an interest at the rate of 6% per annum from the date of this order till actual payment,” the commission said.
'Sales of under-construction flats dip 16% in FY20 in 9 cities; demand of completed units up 19%'
US-based News Corp-backed housing brokerage firm, in its report Real Insight Q4'2020, also highlighted that the share of completed apartments in the total housing sales grew to 20 per cent during the last fiscal from 15 per cent in the previous financial year.
Lateral entry plan for government company worries foreign bidders
City and Industrial Development Corporation (CIDCO), the builder of Navi Mumbai Metro had floated a tender for choosing an operator for Line-1 of the project in December 2018.
Godrej Properties adds four new residential projects to its development portfolio
Realty developer Godrej Properties has entered into a joint venture to develop a township project of over 100 acres in Navi Mumbai. This project will offer around 7.50 million sq ft of development area and will be developed as a residential projects with a retail component. The second project is a joint venture with Nisarg Nirman Developers.
L&T IDPL bags EPC contract for Navi Mumbai airport
NMIAPL is a public-private partnership venture in which GVK-led MIAL has a 74 per cent stake with CIDCO.
Home buyers seek participation in builder's bankruptcy
As many as 1,500 under-construction flats have been sold by the developers spread across Navi Mumbai.
WeWork leases entire 10-storey office building in Mumbai's Andheri suburb
This is the second property WeWork India has picked up on lease in Andheri. In Mumbai alone, the company has a total of five facilities, including the latest lease of Raheja Platinum.
Builder told to pay up Rs 1.1 crore to flat owners over missing OC
Galaxy Heights CHS alleged that Royal Developers had handed over the flats but failed to form a society, obtain the OC and execute the conveyance deed in its favour.
RERA effect: Cidco’s 36,000 sq metres plots sold for 20% less rates
Builders say the rates at which the plots were acquired by developers are around 20% lesser due to the new Real Estate (Regulation & Development) Act.
Mumbai builders seek changes in rent rules amid slowdown in property markets
They are now seeking to rent out their unsold flats as 'service apartments' to earn some money during the current slowdown in the market.
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