The proposed 9.89-km Bandra-Versova sea link has got an environmental clearance.Though the clearance was given last October before the term of the state environment impact assessment authority (SEIAA) expired, it was issued only in February.The issuance was delayed as the Maharashtra State Road Development Corporation (MSRDC) had not fulfilled all requirements.“Now that MSRDC has complied… Read More »
The Planning Committee of Municipal Corporation Greater Mumbai has recommended increasing the total area available for affordable housing in the city by over 80 hectare to 787.28 hectare in its Development Plan for 2034. The Revised Draft Development Plan 2034 (RDDP 2034) had earlier provided for 707.13 Ha of land for affordable housing in the… Read More »
The planning committee’s report on the draft Development Plan-2034 is likely to help BMC create more affordable houses than the 10 lakh planned earlier. For, it has renamed no-development zones (NDZ) as special development zones (SDZ). In the plan submitted to the mayor, the panel allowed smaller SDZ plot owners to develop their land after… Read More »
Piramal Realty, the real estate arm of the Piramal Group, will be spending Rs 1,800 crore on its residential project spread over 8.4 acre in Mulund suburb of Mumbai, said a top company official. This is part of the company’s total planned investment of Rs 16,000 crore for executing projects and buying land parcels over… Read More »
US private equity major Blackstone Group has moved closer to inking a $250-300-million deal for 15% in K Raheja Corp’s 20-million sq ft income-producing office portfolio, said two persons familiar with the development. “An application with regards to the proposed deal has now been filed with anti-trust watchdog Competition Commission of India. The transaction is… Read More »
Hotel room in India has just shrunk.Entrepreneur duo of Shalabh Mittal and Hiren Gandhi have launched a hotel in Andheri in Mumbai with pods between 50 square feet and 90 sq ft. Urbanpod, the 140-unit hotel, started operations on Wednesday and is the only such offering in the country. It offers classic (single occupancy), private… Read More »
Non-banking financial company (NBFC) Altico Capital today said it has infused Rs 180 crore in Mumbai-based realty developer Sheth Corp.The money will be utilised predominantly for the construction of a residential project ‘Project Zuri’ in Thane. The project has received a good response in its recent pre-launch sales which establishes the marketability of the product,… Read More »
Fort House, the home of VideoconBSE -0.29 % Group, is getting a new owner in a deal that would turn heads: The Rs.300-crore transaction is among the biggest in South Mumbai this year, but would be towards the lower end of the rate gradient for a property of that size and in that location. Dawat-e-Hadiyah,… Read More »
3000 Crores (~ $ 0.5 Bn) Annual Rents Expiring Across India in 2017. Approximately 30 msf space of nearly 1600 deals contributing more than 255 crores to monthly rental revenues to expire in 2017. Top 3 CRE Markets -Bangalore, Gurgaon and Mumbai together contribute approximately 73% to the volume of lease expiries in 2017. Bangalore… Read More »
In a rare sale deal in South Mumbai’s prime business district of Nariman Point, The Indian Express media group has bought 15,645 sq ft of space in the Mafatlal Centre building for Rs 34 crore or Rs 21,732 a sq ft from Japanese company Mitsui & Co, according to registered documents. The deal includes four… Read More »
