Category: Navi Mumbai Real Estate News

News articles about Real Estate

Ghansoli a neglected node

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The residents of Ghansoli are a harassed lot and feel neglected as none of the agencies— Navi Mumbai Municipal Corporation or Cidco— has paid any heed to their complaints and requests regarding the unclean environment.The population of the node is multiplying fast but it lacks basic amenities and infrastructure to add to the mess the unclean nullahs are proving to be a headache for the locals, people complain.“I shifted to Ghansoli from Vashi nearly a year back and stay in sector-7. Though the place where I stay is plush, the moment I step out to reach to the station, there is this 500 metres broad nullah, which starts from the Gharonda complex and transforms into a filthy serpentine flow through the Simplex complex further to vegetable markets,” said Abhijit Angne.He added, “The nullah poses threat to basic hygiene and health, given the fact that it makes ground for mosquito breeding and eventually spreads airborne diseases. We have spent multiple crores on buying a house here, but the government is not doing its bit. The stench emanating from the nullah makes life difficult. It’s a mix of chemicals, human wastes and more that flows as a black stream of molten hell.”Angne…

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Builders plan 1 day protest against govt policies

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

Builders across the city of Mumbai have planned a one day token strike on May 3,against the arbitrary and adhoc policy changes by the govt and the corruption in the govt machinery. The builders are protesting the inordinate delays and corruption in the approvals granting process. Currently each building proposal requires more than 20 approvals from different govt dept. The time for which can take upto  months. Approx 5 lakh sq feet of construction is held up due to approvals not being received.It may be noted that the govt aim of providing affordable houses is in shambles currently as flats in Navi Mumbai region cost more than 50 lakhs for a 1 bhk flat.No builder will enter into any transaction on the 3rd of May 2012. Related articles Navi Mumbai Airport stalled again (navimumbairealestate.org) 12.5% gaothan scheme of CIDCO (navimumbairealestate.org) Property Tax:Builders to be held accountable? (navimumbairealestate.org) Documents required for flat purchase in Navi Mumbai (navimumbairealestate.org)

Extra FSI approved for Mumbai’s Koliwadas

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The chief minister, Mr.Chauhan, on friday cleared the proposal to hike FSI (floor space index) of Koliwadas of Mumbai to 2 from 1. This is on similar lines to the FSI in Gaothan areas. However, unlike Gaothan areas, Koliwadas have not been mapped and hence a mapping drive will also be undertaken. The Survey will be carried out over a period of 3 months. Following which a clear demarcation of Koliwadas will be available with the Govt. This will be applicable to Koliwadas within the city limits initially.With an FSI of 2, the gross area of the constructed building will be twice the area of the plot it stands on.However, some sections of the Koli community were skeptical of getting any benefit as most of the houses in Koliwadas have already violated the 1 fsi and are, in some cases, up to 3.It may be worth pointing out that most SRA projects get an FSI of 3.At the most the new regulations will help regularize the violations, felt most people. The following is a list of Mumbai’s Koliwadas Chembur Mahul Trombay Sion Koliwada Gorai Madh Manori Marve Malvani Bhati Erangal Versova Juhu Chimbai Khar Dhanda Worli Mahim Dharavi Girgaum Koliwada…

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Sheth developers split due to family dispute

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

Splitting of familyrun real estate businesses appears to be a growing phenomenon . The three low-profile brothers of the Rs 3,000-crore Sheth Developers Pvt Ltd (SDPL) have reportedly split and the separation is said to have been amicable. Industry sources said the parting was a result of differences in business vision of the three brothers-Ashwin , Vallabh and Jitendra Sheth. While Ashwin, managing director of SDPL, and Vallabh , director, denied the split, they confirmed the setting up of two firms. They said it will not affect the firm’s existing projects. “We are jointly completing all the projects at hand and only acquiring new projects separately,” they said in separate communications. Jitendra, too, is a director in the firm. This is how the business has been reportedly bifurcated . SDPL, the parent company where the brothers hold 33% stake each, will continue to exist till the ongoing projects are complete. The brothers have set up two realty firms, which will bid for new projects and land acquisitions separately. Ashwin, eldest of the three, has set up Seth Corp, which he will operate jointly with son Chintan. He has an office in Vile Parle. Ashwin’s brothers, Vallabh and Jitendra , have…

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Mhada Repair Scam

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

Maharashtra Housing and Area Development Authority (Mhada) officials and private contractors are hand-in-glove in a Rs100-crore scam concerning repairing tenders of cessed buildings, a Right to Information Act (RTI) query has revealed. Contractors try to grab the tenders by quoting prices as less as 80% to 90% below the estimated cost of repair. However, once they get the contract, they recover the deficit — difference between the estimated repair cost and the price they have quoted — by submitting an ‘extras’ bill. They also include their profit in the bills. DNA is in possession of 68 documents which highlight the modus operandi of contractors and Mhada officials. For example, if a contractor quotes Rs1 lakh to repair a building against its estimated cost of Rs10 lakh, he later submits bills over and above Rs9 lakh to recover the amount with the help of Mhada officials. He may or may not complete the repair work, but ensures he gets a hefty sum with some profit for Mhada officials too. Mhada repaired a cessed building in Bhuleshwar for which the architect and engineer estimated the repairing cost to be Rs4.98 lakh. A private contractor bagged the tender by quoting Rs94,732 — 81%…

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Home loan rates go down

Mayur
Mayur
Legal Head at Sky Properties
Mayur is a real estate professional based in Navi Mumbai for the past 20 years. His expertise in real estate includes every sphere of the real estate sector from legal to Building Construction to Vastu to home interiors.
When it's not real estate, its either his fight against corruption or pulling focus (film making) with his NIKON D750 that keeps him busy.
With over 9 million views of his pictures on Google Maps and over 1.3 crore views of his contributions, he has been designated as a Master Photographer by Google.
He can be reached on 9987452642
Mayur
Latest posts by Mayur (see all)

The interest rates on home loans have started indicating a downward trend as the Reserve Bank of India (RBI) cut its cash reserve ratio (CRR) last month. The cut in the CRR means more liquidity available for banks, and thus they will be more aggressive with their lending schemes. This trend has been visible in the strategies of banks. Many banks have announced interest rate cuts on their new home loan schemes. Outlook on interest rates Interest rates follow a cyclical pattern over a long term. They were at low levels during 2007-08 and then went up due to a higher inflation rate prevailing, and consequent tightening in the monetary policy by the RBI in 2010-11. Now, the inflation rate is showing signs of cooling down and the RBI has started softening its monetary policy stance. Analysts believe the interest rates will come down in the near to medium terms. Lower rates for borrowers Most banks have not reduced their interest rates for existing home loan accounts, citing the reason that the cost of funds have not yet come down. However, analysts believe the RBI is softening its monetary policy stance and therefore an interest rate cut in the near…

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