The state government has finally rolled out its new transfer of development rights (TDR) policy for Mumbai, where additional construction rights will be given to builders depending on the width of a road along a project site. State urban development secretary Nitin Kareer said the policy has been officially notified. The biggest beneficiaries will be… Read More »
The plan to set up International Financial Services Centre (IFSC) in Mumbai is likely to get Centre’s nod this time around, thanks to the revised proposal from the Maharashtra government under which more land has been allotted for the project. A plot adjoining the existing G-Text block at Bandra Kurla Complex has now been added… Read More »
The Sahara Group, under pressure from the Supreme Court to refund money to its investors, has raised Rs 150 crore from its controversial 106-acre Oshiwara land parcel by tying up with Ahmedabad-based developer Safal Group. This sprawl, which is part of a larger 550-acre swathe belonging to the Byramjee Jeejeebhoy family, has long been in… Read More »
Momentum for corporate land deals has slowed down in the past year because of valuation gaps and expectation mismatches, say property advisers, brokers The slump in the Indian real estate market, along with legal issues and delays in regulatory approvals, has significantly impacted corporate land deals in the past one year. Companies looking to dispose… Read More »
Cidco offered four plots in Ghansoli this September, which were quoted at 30 per cent less than last year. To help finance the Navi Mumbai International Airport (NMIA) and Smart City project, the City and Industrial Development Corporation (Cidco) continues to sell plots across the city. In the last year, the planning agency has sold… Read More »
With the real estate market in the city showing no signs of picking up, a top realty firm has sold off part of its 17-acre land parcel in Dahisar meant for a residential project. Dynamix Balwas (DB) Realty reportedly sold the land to a city-based realty firm Romell Group for Rs 134 crore, a source… Read More »
Under the new policy prepared by the Urban Development Department (UDD) and cleared by the state cabinet on Tuesday , leases of these plots will be renewed, but not for more than 30 years. The policy also mentions that in case of any violation of the lease agreement such as if the user has sub-leased… Read More »
Around 200 acres of land worth over Rs1,600 crore are up for sale in Mumbai’s Thane-Belapur industrial corridor as many of the landowners in the region, including private companies and developers, plan to monetize them to take advantage of the growing demand for commercial and industrial real estate, according to property advisors, builders and government… Read More »
The City and Industrial Development Corporation of Maharashtra or CIDCO has received bids worth total Rs 392 crore through an auction of four land parcels in Navi Mumbai, said two persons familiar with the development. Of the four land parcels auctioned by CIDCO, the highest bid received for a sea-facing 1.83 acre plot on Palm… Read More »