Category Archives: Mumbai

Legal, regulatory woes hit land deals in Mumbai, suburbs

Land deals in Mumbai and its suburbs have dried up as buyers, wary of legal and regulatory hurdles, refuse to pay up the money demanded by sellers, industry officials and analysts said. The demonetisation exercise and the crackdown on black money haven’t helped either. Last month, drugmaker GlaxoSmithKline Pharmaceuticals Ltd cancelled bids to sell 64 acres… Read More »

We may auction Hotel Leela land in Mumbai, says AAI chief

With the Airports Authority of India (AAI) terminating the land lease contract of Hotel Leela Venture in Mumbai, the state-run body is now planning to monetise the land and building belonging to the hospitality company to shore up its non-aeronautical revenues. Speaking to BusinessLine, Guruprasad Mohapatra, Chairman, Airports Authority of India, said, “We have had… Read More »

HOCL land sale to benefit Kochi unit

The decision by the loss-making Mumbai unit of Hindustan Organic Chemicals Limited (HOCL), HOCL-Rasayani, to sell its 442 acres of land to BPCL has come as a boon to the HOCL-Kochi unit as the latter will be getting a pie from the sales proceedings. The deal assumes significance in the wake of the Union Budget… Read More »

Railways allows 80-yr lease plan for Bandra plot

In a major policy shift, the railway ministry and the Rail Land Development Authority (RLDA) have decided to allot a 43,000-sq.m Bandra plot for commercial development on a lease period of 80 years. The previous land lease period of 45 years had put a dampener on the realtors and had led to the lease tenders… Read More »

Godrej Properties plans plotted land development foray

Mumbai-based real estate company Godrej Properties Ltd is planning to enter the plotted land development business to expand its footprint and brand presence to more cities. The company is actively scouting for large land parcels on the outskirts of Bengaluru, Pune and the National Capital Region (NCR), a senior executive said. The new business will… Read More »

Maharashtra government eases land revenue norms for infra projects

The state government has come up with an amendment in Maharashtra Land Revenue Code, following which non-agriculture certification will no longer be required for a land for which development plan is finalised. Unless an agricultural land is converted into non-agricultural, development work can not be started. With the new amendment in the Maharashtra Land Revenue… Read More »

Cidco rakes in Rs 190 crore through sale of 8 plots

Eight Cidco plots located in Kharghar, New Panvel and Kalamboli on Thursday raked in almost Rs 190 crore through sale by tender to highest bidders. The plots are situated within the vicinity of the proposed airport at Navi Mumbai. Two Kharghar plots fetched Rs1.37 lakh per sq mt and Rs 1.22 lakh per sq mt… Read More »