News

In the September quarter, institutional inflows into India's real estate market showed high confidence from local and foreign investors. Colliers reported a 6.8-fold increase in office investments to $600 million in Q3 2024.

The state government is granting developers Floor Space Index to overcome legal issues regarding salt pan land availability in Dharavi's redevelopment. In return for building rental accommodation for ineligible Dharavi inhabitants, the saleable components of the project will get an FSI of 1.33.

After 2.5 years of construction, the west-to-east Mith Chowky flyover in Malad will open to automobiles on Sunday, October 6, 2024. For cars driving from Marve and Malwani to Malad railway station, this partial opening might alleviate traffic at the bridge intersection.

Mumbai's first underground metro line is open after delays and controversy. This Saturday, Prime Minister Narendra Modi will open the 12.5 kilometre Aarey-BKC metro line's first phase. The new metro line would cut travel time from Aarey to BKC to 22.30 minutes, down from an hour.

As demand for automobile sunroofs rises, global manufacturers are turning to India. Sunroof manufacturers like Inalfa Roof Systems (Netherlands) and Gabriel India intend to treble output in the next year.

The Maharashtra government is preparing to modify stamp duty laws, affecting real estate and business. This document details the proposed modifications and their predicted effects.

High land prices and lengthy clearance delays are limiting Indian real estate project debuts. Land acquisition, regulatory difficulties, and legal issues are causing a supply-demand mismatch in Mumbai, Bengaluru, and Delhi-NCR.

Kanakia Spaces entered two distinct agreements to undertake the redevelopment of large housing societies in Borivali, a prominent suburb in Mumbai.

Mumbai, India's biggest and most expensive real estate market, is breaking records in 2024. In the first nine months, property registrations increased by 12%, surpassing 105,000 deals, while stamp duty revenues increased by 6%, reaching over ₹8,892 crore.

As Mumbai's real estate market continues to rise, Greater Mumbai property registrations rose 12% in 2024 to over 1.5 lakh in the first nine months. This 12% YoY rise in registrations has brought Rs 8,892 crore to the state exchequer.

The third edition of India's Favourite Homestay Awards spotlighted the growing homestay business. At the Taj Cidade de Goa Horizon, celebrities chefs, designers, photographers, and entrepreneurs gathered.

The Group of Ministers (GoM) on real estate has eliminated GST exemptions on private long-term land leases, a critical step. Tourism firms requesting exemptions are affected by this ruling. The meeting additionally discussed important subjects including housing society construction service taxation.

After years of environmentalist pressure, the Maharashtra Forest Department is installing a CCTV surveillance system. This Rs 120 crore strategic program monitors 195 "sensitive" mangrove habitats in the Mumbai Metropolitan Region using 669 high-tech cameras.

In a significant push to ease traffic on Ghodbunder Road, a notorious bottleneck for motorists traveling from Mumbai, Thane, and beyond toward Nashik, Gujarat, and Konkan, the Mumbai Metropolitan Region Development Authority (MMRDA) has accelerated the development of alternative routes.

A plan to construct a new expressway adjacent to the Mumbai-Pune Expressway is now underway. The first phase of this project will stretch from JNPA (Jawaharlal Nehru Port Authority) to Chowk (Karjat). The highway will later extend from Chowk towards Pune and eventually reach Bengaluru.