10-15% Fall Expected in Mumbai Property Rates by year End: Experts

Published: June 2, 2011

Property prices in India’s financial capital Mumbai have surged 40 percent in less than two years, even surpassing peaks reached in 2008. Homes in Mumbai’s prime locations, for example, can cost up to $2,000 a square feet. But warning signs have emerged to suggest that a correction might be around the corner. Real estate firm [...]

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Mumbai Based Patel Realty Plans to Launch Projects worth Rs 300 cr

Published: May 27, 2011

Patel Realty India Ltd, a wholly-owned subsidiary of Mumbai-based publicly-held Patel Engineering Group, plans to launch 3-3.5 million sq ft of projects valued around Rs 300 crore during the present financial year across the country. Presently, around 7 million sq ft of real estate space is under construction across verticals like residential, commercial and retail [...]

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Fall in Office and Commercial Space Demand in Mumbai

Published: May 26, 2011

Mumbai, India’s business capital, is witnessing a fall in demand for office and commercial space with transactions down by more than half since last year. Swanky office space in the heart of Mumbai, but it seems there are few takers. According to a Knight Frank India report, “office traction at a glance”, demand for commercial [...]

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Piramal Realty Ltd Plans 5 Residential Projects in Mumbai

Published: May 4, 2011

Piramal Group chairman Ajay Piramal’s newest venture, Piramal Realty Ltd, will kick off with five residential projects in Mumbai at an estimated investment of about Rs. 1,500 crore. The company will develop about 30 million sq. ft through land acquisitions funded from its own sources, without any borrowing, managing director Khushru Jijina said. “We are [...]

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Residential Property Prices to Dip as Buyers Stay Away

Published: April 13, 2011

Weighed down by a piling up inventory as customers stay away, property prices in India’s key markets are slated to decline, while in other cities the trend is likely to be divergent.
Apart from the fall in affordability of customers, due to a rise in property prices and interest rates, the other reason is developers’ fund [...]

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Commercial Space Demand in India to Touch 160 mn sq ft By ‘14

Published: April 5, 2011

Demand for commercial office space across the seven major cities in India is estimated at around 160 mn sq ft by 2014, a latest study by multi-national real-estate services firm Cushman and Wakefield Research (CWR) has revealed.
The quantum of demand will mainly be concentrated in the metropolitan centres of Bangalore, Mumbai and National Capital Region [...]

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Sanghvi Group comes up with Affordable Housing Project in Mumbai

Published: March 31, 2011

Acknowledging the need for ‘affordable and qualitative housing’ in the extended suburb of Mumbai Metropolitan Region (MMR) real estate firm Sanghvi Group has identified Kalyan, Shahapur, Vasind and Asangaon as an affordable residential destination. Keeping this in mind the Group launched Sanghvi Paradise, an affordable mega township project at Asangaon. Spread across nine acres of [...]

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Mumbai Realty Robust Despite Small Fall in Flat Sales in Feb

Published: March 28, 2011

Mumbai’s real estate market continues to be robust despite a minor blip in February when flat sales clocked a 2.40 per cent decline, a leading industry body said.
The city reported a marginal decline in flat registrations at 16,341 in February as against 16,743 registrations in the year-ago period, data from the Maharashtra Chamber of Housing [...]

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Mumbai Real Estate Continues to Remain Stagnant Amidst High Property Prices

Published: March 18, 2011

The real estate market in Mumbai continues to remain stagnant as sale transactions are at an all-time low due to the high property prices. Traditionally, property sales in the city go up between February and April, with March recording the highest number of transactions. But, this year even that does not seem to be happening.
As [...]

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Mumbai Office Market, Sixth Most Expensive Globally - Survey

Published: February 24, 2011

Mumbai has been ranked as the sixth-most expensive office market in the world, according to a global survey by property services firm Cushman & Wakefield.
With office rentals in its main business district averaging $114 a square foot per year, Mumbai ranks behind Hong Kong , London, Tokyo, Rio de Janiero and New York, the report [...]

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Mumbai Realtors Likely to Cut Prices

Published: December 29, 2010

Mumbai developers may cut record- high home prices to revive flagging sales after banks curbed credit to the sector, according to IIFL.
Registrations for home sales, leases and property transfers fell 15% this quarter from the three months ended September 30, the brokerage said in a note yesterday. “Selective price cuts” are expected in the quarter [...]

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Tata Housing Subsidiary Announces Launch of Hill Township at Thane

Published: December 9, 2010

Smart Value Homes, a 100 per cent subsidiary of Tata Housing Development Company, has announced the launch of New Haven — a hill township at Vasind in Thane district, Maharashtra. Spread across 33-acres, the new project would offer 1,252 apartments, including 2 BHK and 3 BHK homes starting from Rs 15-30 lakh, according to a [...]

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Property Price Correction Expected in Mumbai and Delhi

Published: November 9, 2010

Property prices in Mumbai and New Delhi are set to decline by almost 15 to 20 per cent in the next couple of months, according to an Indian real estate consultancy.
“A correction is likely to happen in Mumbai and New Delhi property prices. We believe the fall could be in the range of 15 to [...]

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Godrej’s realty arm to develop 1.35-acre plot in Chembur

Published: October 7, 2010

Godrej Properties has signed a development agreement for a 1.35-acre plot in Chembur . The property, which is on the Sion-Trombay Highway, has development potential of around 1,50,000 sq ft, the company said in a media statement.
Godrej Properties will be undertaking the project through a joint venture with land-owner Bombay Footwear. Almost 85% of the [...]

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Mumbai Sees Biggest Real Estate Deal

Published: August 10, 2010

India’s biggest real estate deal took place yesterday evening, with the National Textile Corporation (NTC) limited selling eight acres of Bharat Mills at Worli, for a whopping 1505 crore, meaning a single acre went for 188 crore. The highest bidder was Indiabulls, who won with a difference of 2 crore as Lodha had bid 1503 [...]

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Commercial Real Estate Faces the Problem of Supply Overhang

Published: August 6, 2010

India’s realty sector is likely to face the problem of plenty with office rental space set to outstrip demand resulting in a further drop in rentals, according to a report released on Tuesday. “With the forecast growth of net completions expected to outpace that of net absorption, a significant supply overhang is expected to remain [...]

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DLF to Launch Mumbai’s Largest Luxury Housing Project

Published: May 26, 2010

DLF, the country’s largest real estate company, is planning to launch its Lower Parel high-end housing project soon, said sources in the know. Touted as Mumbai’s ‘largest luxury residential project’, the project is expected to have three towers with 1,000 apartments and one of the largest parking lots in the city. The apartments are likely [...]

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10 to 20 Percent Decline Expected in Mumbai and NCR Delhi Real Estate Bookings

Published: May 17, 2010

Real estate prices for new bookings in Mumbai and NCR Delhi are expected to be 10 to 20 per cent lower than prevailing market rates feel analysts as developers are still bogged down by unsold inventory in projects in these areas.
Though absorption of unsold flats have gone up in the last six months due to [...]

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JLLM Predicts More Rise in Mumbai Residential housing prices

Published: April 22, 2010

Residential housing prices in Mumbai are expected to move further upside as sales increase and investor sentiments strengthen, a recent real estate report by Jones Lang LaSalle Meghraj (JLLM) said. “Demand for commercial spaces is improving and will continue to do so until the end of 2010. This will translate in to a large number [...]

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Big City Realty Deals

Published: January 22, 2010

MUMBAI
An apartment, admeasuring approximately 1,150 sq ft, situated in Malabar Hill, was sold for around Rs 4,00,00,000 (Rs 34,783 per sq ft). The capital values for a mid-segment apartment in Malabar Hill would typically range from Rs 2,00,000–3 ,50,000 per sq ft and this apartment’s sale price is well within the prevalent price range.
The [...]

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Further Decline in Office Space Rentals at Nariman Point

Published: January 19, 2010

The micro-market of Nariman Point was among the few in the country where office space rentals fell over the last quarter in an otherwise stabilising commercial real estate market. According to a report by commercial real estate services firm CB Richard Ellis, this is primarily due to relocation of offices from Nariman Point to further [...]

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