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7 Reasons Why Mumbai's New TDR Policy Could Negatively Impact Real Estate Growth

Recent TDR regulation amendments in Mumbai could jeopardise the city's growing real estate industry. With developers being forced to get a percentage of their TDR from the Dharavi redevelopment project at higher rates, home prices may rise.

By Admin

  • 6th Sep 2024
  • 1144 Views
Prestige Estates Acquires Prime Land and Development Rights in Pune for Over INR 200 Crore

Prestige Estates Projects' subsidiary Prestige Exora Business Parks purchased its partner's land parcel and development rights in Pune's desirable Kharadi neighbourhood. Land of about 4.5 acres was acquired for approximately ₹200 crore.

By Admin

  • 6th Sep 2024
  • 1155 Views
Mumbai Government to Provide 10-Floor TDR for Redevelopment in Airport Funnel Zone

Chief Minister Eknath Shinde said that Mumbai will give TDR of up to 10 stories for airport funnel zone building rehabilitation. Redevelopment has been impeded by height constraints as most buildings in this area are 3-4 storeys. This government strategy promotes urban renewal.

By Admin

  • 14th Jul 2024
  • 1258 Views
BMC to Follow Fair Compensation Procedure for Borivali Church Land - HC

The BMC must follow the Right to Fair Compensation and site Acquisition Act, 2013 to purchase part of a church-owned site in Borivali for a public park, according to the Bombay High Court. The BMC cannot seize the church until the process is followed.

By Admin

  • 27th Jun 2024
  • 1221 Views
Sobha Group Targets INR 10,000 Crore Equity Capital and 5-Fold Sales Growth in Next Five Years

Sobha India, a subsidiary of the Dubai-based Sobha Group, wants to increase equity capital to ₹10,000 crore in the next five years. This ambitious goal will help the firm develop and enter new markets.

By Admin

  • 25th May 2024
  • 1237 Views
Sobha Group Plans Grand Entry into Mumbai's Luxury Housing Market

Real estate giant Sobha Group will affect Mumbai's luxury home market. The business plans to treble annual sales bookings to ₹30,000 crore in the next 4-5 years via an aggressive growth strategy.

By Admin

  • 21st May 2024
  • 1248 Views
Mumbai Developer Ordered to Compensate Homebuyer with INR 8,50,000

With a landmark verdict, a Mumbai consumer commission ordered a development company to pay purchaser Neela Pawar with INR 8.5 lakh and return INR 7.5 lakh for failing to get licences for a Kandivli redevelopment project. This ruling shows the consequences of unlicensed redevelopment.

By Admin

  • 31st Mar 2024
  • 1314 Views
CG Power and K Raheja Corp Join Forces for Iconic Redevelopment in Mumbai

Crompton Greaves, CG Power & Industrial Solutions, and K Raheja Corp. are redeveloping CG House, its headquarters in affluent Worli. Over an acre of leasehold land is used for electricity production, transmission, distribution and rail transportation.

By Admin

  • 16th Dec 2023
  • 1295 Views
As Suraj Developers Plans to Raise 400 Cr, it Remains Focussed on Revenue Growth

Suraj Estate Developers, situated in Mumbai, plans to raise 400 crore via a main market share sale. The residential and commercial firm plans to use ₹285 crore for debt payments for both itself and its subsidiaries. The corporation would also spend 35 crore on property or land development rights.

By Admin

  • 14th Dec 2023
  • 1292 Views
Purvankara Bags Redevelopment Rights of Two Housing Societies in Lokhandwala, Andheri West, Mumbai

Bangalore-based Puravankara, one of India's largest real estate developers, won the redevelopment rights for two Lokhandwala, Andheri west housing complexes. Puravankara's initial venture into western suburb redevelopment with this purchase is notable.

By Admin

  • 20th Nov 2023
  • 1329 Views
Bengaluru Based Shriram Properties Acquires Development Rights for a Residential Project in Chennai For INR 185 Cr

Shriram Properties Limited (SPL) of Bengaluru has acquired development rights for 1.9 million square feet for a residential project in Chennai from Garden City Developers in a transaction valued at approximately Rs 185 crore.

By Admin

  • 27th May 2023
  • 1332 Views
Pfizer Has Sold The Leasehold Rights to a 54-Acre Plot of Land in TTCIA, Mumbai to Vidhi Research & Development

Pfizer sold Vidhi Research & Development LLP its rights to a 54-acre land block and its facility in the Trans Thane Creek industrial Area (TTCIA) in Mumbai for over INR 207 crore, including differential premium to the Maharashtra Industrial Development Corporation (MIDC).

By Admin

  • 7th Mar 2023
  • 1542 Views
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