REAL ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS
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India's crazy tax system just got much simpler

India's crazy tax system just got much simpler | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Prime Minister Narendra Modi has finally delivered a landmark tax reform that should make life much easier for Indian businesses and could give its fast-growing economy another boost.
Bhavik Chitalia's insight:
With economic growth near 8%, India remains an attractive bet for multinationals seeking growth. The country's middle class has money to spend, and its youthful population offers huge potential.
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Residential realty prices may worsen, says study - Economic Times

Residential realty prices may worsen, says study - Economic Times | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
As per the survey, nearly 82 per cent of respondents feel that residential price appreciation is either going to remain the same or worsen in the coming six months.
Bhavik Chitalia's insight:

 The festive season has not been able to lend fillip to the prevailing bearish sentiment in the residential real estate market.

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No recovery in sight for residential real estate - Business Standard

No recovery in sight for residential real estate - Business Standard | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
The government, however, is planning to bring a bill that will include a regulator for the notoriously lax sector
Bhavik Chitalia's insight:

 One of the first signs of recovery would be restarting of stalled projects and new project announcements by builders.

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Residential Real Estate: Markets easing slowly, treading on the recovery path - The Indian Express

Residential Real Estate: Markets easing slowly, treading on the recovery path - The Indian Express | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
By Yashwin Bangera It is a well-established fact that the residential real estate market is in turmoil today.
Bhavik Chitalia's insight:

Encouraging trends in broader economic parameters such as reducing inflation and interest rates and GDP growth coupled with the development agenda of the current regime are bound to bring the home buyer back and boost market volumes, eventually drawing in investors and setting the stage for price growth over the next five years.

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Avoid under-construction property - Business Standard

Avoid under-construction property - Business Standard | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Read more about Avoid under-construction property on Business Standard. If you are buying to stay, go for ready-to-move in property
Bhavik Chitalia's insight:

 Despite lack of sales, builders have not really cut rates significantly in the past few years.

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RBI Governor Raghuram Rajan wants realty players to cut rates for reducing stock - Economic Times

RBI Governor Raghuram Rajan wants realty players to cut rates for reducing stock - Economic Times | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Rajan today exhorted realty developers to cut their rates even as the country's largest lender SBI sought RBI's nod for cutting home loan rates.
Bhavik Chitalia's insight:

"I do believe that if real estate developers who are sitting on unsold stocks bring down prices, that will be a very great help to the sector because once there is a sense that prices have stabilised, more people will be willing to buy," 

 
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Oberoi Realty to buy Crompton Greaves' Worli building for over Rs 200 crore - Economic Times

Oberoi Realty to buy Crompton Greaves' Worli building for over Rs 200 crore - Economic Times | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Property deals are back, in a major realty transaction in upmarket Mumbai, Crompton Greaves has sold its iconic corporate office in Worli.
Bhavik Chitalia's insight:

Sources share that Oberoi Realty will transfer the almost one acre property to its Worli project in which the realty major has 35% stake. Oasis Realty is the JV between Oberoi Realty and Sahana Group which is building a hotel operated by Ritz-Carlton and a luxury residential building which needs more space and is adjacent to Crompton Greaves building. 

 
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CM Devendra Fadnavis fast-tracks affordable housing through SRA - The Indian Express

CM Devendra Fadnavis fast-tracks affordable housing through SRA - The Indian Express | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Asks authority to give Rs 500 crore for Shiv Shahi project, makes secret ballot must to select developer, stresses on cluster development.
Bhavik Chitalia's insight:

The chief minister also stressed on cluster development that would ensure infrastructure and related amenities. 

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Ordinance on completion of redevelopment projects in Mumbai region soon - ETRealty.com

Ordinance on completion of redevelopment projects in Mumbai region soon - ETRealty.com | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Minister of State for Urban Development Ranjit Patil said the state government will come up with the ordinance within a month's time. The draft of the ordinan..
Bhavik Chitalia's insight:

"There are around 17,000 dilapidated buildings in Mumbai and most of them are in the Southern region. Most of these buildings have been given an approval by MHADA for reconstruction.

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Is this india's worst real estate nightmare? - Livemint

Is this india's worst real estate nightmare? - Livemint | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
India’s real estate market remains in the grip of a two-year-old downturn as potential homebuyers shun purchases, leaving developers struggling with unsold inventory and stalled projects
Bhavik Chitalia's insight:

The real estate market has been among the sectors worst hit by the economic downturn which, coupled with high interest rates in the face of persistent inflation and delays in securing mandatory government approvals, has kept wary homebuyers away for the last couple of years.

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For 11 lakh Mumbaikars, no property tax hike for 5 years - The Indian Express

For 11 lakh Mumbaikars, no property tax hike for 5 years - The Indian Express | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
House owners in Mumbai with less than 500 sq ft homes won’t see a hike in property tax for the next five years.
Bhavik Chitalia's insight:

For the first five years under the new regime, all properties occupying less than 550 sq ft carpet area were exempted from any hike in tax that was charged under the previous regime. 

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Mumbai : ED raid on properties of Chagan Bhujbal - Marathi Samachar

Mumbai : ED raid on properties of Chagan Bhujbal - Marathi Samachar | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
ABP MAJHAMon, June 22, 2015 9:10amURL:Embed:Mumbai : ED raid on properties of Chagan Bhujbal Related
Bhavik Chitalia's insight:

With increasing competition, it seems builders, marketers and promoters may face tough time ahead to get into the eyes of the consumer.

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Maharashtra Govt plans to push for cluster development - Business Standard

Maharashtra Govt plans to push for cluster development - Business Standard | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Expects the cluster development projects will clock turn over of well over Rs 20,000 crore
Bhavik Chitalia's insight:

 Proper implementation of such a policy can lead to population de-congestion, opening of locked spaces, modernised infrastructure and creation of a new city skyline. Mumbai is ripe for large-scale and comprehensive urban renewal of this nature.

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What makes properties in Mumbai expensive

What makes properties in Mumbai expensive | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it

Homes are very expensive in Mumbai and the buyer uses various ways to keep the price within the affordable range. Buying a home close to the periphery or even beyond, opting for a smaller space, etc are a few ways of achieving just that.

Bhavik Chitalia's insight:

 Every metro city has the option of expanding in every possible direction but Mumbai, being an island city, its development is restricted. 

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No light at realty's end: Study - News Today

No light at realty's end: Study - News Today | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Mumbai: The bearish sentiment is likely to continue in the residential real estate sector for the next six months and the pricing situation will remain stagnant or may even worsen, while an uptick in office space rentals will give a boost to the...
Bhavik Chitalia's insight:

'The on-going festive season is unlikely to revive the residential sector in the major cities of India. Majority of the supply side stakeholders are of the opinion that the residential sector is not going to experience any upturn in sales and new launches in the coming six months', 

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Cash-strapped government eyes Maharashtra land to mobilise additional revenue - Daily News & Analysis

Cash-strapped government eyes Maharashtra land to mobilise additional revenue - Daily News & Analysis | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Cash-strapped government eyes Maharashtra land to mobilise additional revenue - Plan is to monetise value of lands with govt by developing them on PPP basis
Bhavik Chitalia's insight:

The source said the government is aiming at giving a boost to long-pending projects, including those in Mumbai like the redevelopment of the BDD chawls and the Bandra government colony. This will make premium on FSI or housing stock available to the government. The government is also looking at expediting works on Wadala truck terminal and development of the MMRDA's land bank. The MMRDA has a total of 139.98 hectares in Wadala of which around 40 hectares is available for revenue generation.

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Less festive cheer for real estate market this year - The Asian Age

Less festive cheer for real estate market this year - The Asian Age | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Sales in the housing sector are expected to rise at a slower pace of 15-20 per cent during the ...
Bhavik Chitalia's insight:

 “The government has to review the taxes and duties that affect the pricing of any project. Also, the process of granting approvals needs to be sped up so that the time taken from conception to actual delivery of homes is reduced.”

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In real distress, developers join forces to get projects off ground - Financial Express

In real distress, developers join forces to get projects off ground - Financial Express | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
With the distress in the real estate sector showing few signs of easing and more cash being burnt by the day...
Bhavik Chitalia's insight:

“Developers who don’t have a favourable track record or have taken a reputation hit are bringing in partners to market projects,”

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Brokers build an alternative career as realty sector moves at slow pace - Economic Times

Brokers build an alternative career as realty sector moves at slow pace - Economic Times | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
The boom that had pushed up prices and a slowing economy had started to push down home sales. Delays in the delivery of apartments didnt help.
Bhavik Chitalia's insight:

Most of the business that exists in the market these days is cornered by bigger brokers.


 
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It's official. Property registration, revenue slides in Mumbai - Daily News & Analysis

It's official. Property registration, revenue slides in Mumbai - Daily News & Analysis | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
It's official. Property registration, revenue slides in Mumbai - Last year too was not good for the real estate sector. "Property market is going through a correction phase.
Bhavik Chitalia's insight:

"Due to dip in sale, developers are unable to generate adequate funds to execute their projects. The government should bring in clear policies and also reduce the ever-rising taxes,"

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Mumbai Just Sold India's Most Expensive Penthouse

Mumbai Just Sold India's Most Expensive Penthouse | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Sharing more details on this amazing sea-view residence, Luxpresso tells you why the property has been listed as the most expensive apartment ever sold in the country.
Bhavik Chitalia's insight:

Spread across 17,000 sq ft. the penthouse occupying the 20th, 21st and 22nd floor of the tower offers a pristine view of the Arabian Sea and the royal Queen’s necklace along the Marine Drive promenade. 

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Peripheral areas are the new business hotspots in Mumbai - Daily News & Analysis

Peripheral areas are the new business hotspots in Mumbai - Daily News & Analysis | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Peripheral areas are the new business hotspots in Mumbai - Anuj Puri, country head, JLL, told dna, "IT companies like Wipro, Cognizant and Accenture are demanding large IT parks and projects in peripheral business districts (PBDs) precincts and that...
Bhavik Chitalia's insight:

According to the real estate experts, 'cost arbitrage' and 'workforce' are the two main reason of bulk migration.

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Mumbai Property Prices Might Crash 50% Due to Curbs On Black Money, Lower ... - Huffington Post India

Mumbai Property Prices Might Crash 50% Due to Curbs On Black Money, Lower ... - Huffington Post India | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
NEW DELHI — Property prices in Indian cities might crash in the near future, in part because of the government's crackdown on black money in the sector, says a report by brokerage firm Ambit Cap
Bhavik Chitalia's insight:

Demand for new houses has been sluggish at current prices, and inventory is piling up. Mumbai and Delhi will take 11-14 quarters to clear existing property that is available for sale. That's a long delay compared with a healthy real estate market that would need 4-6 quarters.

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Top builders sitting on 70,000 crore worth of unsold inventory | Business ... - Business Standard

Top builders sitting on 70,000 crore worth of unsold inventory | Business ... - Business Standard | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Country's top listed real estate companies reported a further rise in their unsold inventory last fiscal
Bhavik Chitalia's insight:

This may force many builders to book inventory losses if home prices began to fall as predicted by many experts.

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6% Appreciation for Mumbai real estate on cards - GT insights

6% Appreciation for Mumbai real estate on cards - GT insights | REAL  ESTATE - REALTY - MUMBAI - HOUSING - PROPERTIES - COMMERCIAL - RESIDENTIAL - PROPERTY - CONSTRUCTION - BUILDERS - NEWS | Scoop.it
Appreciation of 6% in Mumbai real estate market as Disclosed by JLL India a Global Real estate Firm.
Bhavik Chitalia's insight:

The enquiries both on Online and offline mediums is on a good rise about new homes in and around city and builders and agents are hopeful that second half of the year will be very good for the overall market. 

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