Archive for May, 2011
Tuesday, May 31st, 2011
The Bombay High Court granted interim protection and directed the Brihanmumbai Municipal Corporation (BMC) not to forcibly evict 236 members residing in 11 buildings in Mahatma Phule Nagar, Saat Rasta in Mumbai Central till June 15.
A division bench of Justice P D Kode and Justice Abhay Thipsay , while presiding the vacation court extended protection to the residents till June 15. Bombay HC directed BMC Mumbai not to forcibly evict 236 members residing in 11 buildings in Mahatma Phule Nagar at Saat Rasta in Central Mumbai till June 15.
The residents had earlier moved HC, challenging eviction notices issued by BMC between April 6 and May 2 this year. An appeal was filed in SC, which granted interim relief to the residents on May 19.
The petition stated that Ekta (Estate) Co-operative Housing Society, the proposed society of the residents, has appointed Krish Developers for redevelopment of its 11 buildings. However, the 16 petitioner members are opposing the redevelopment on the ground that the developer had offered them temporary alternate accommodation of barely 100 square feet each whereas most of the members are residing in rooms having approximate area of 300 square feet each.
The petitioners have also pointed out that despite an inventory of eligible members was made in 2007 and was reviewed in 2010, it is yet not been provided to them by the BMC.
timesofindia.indiatimes.com
Tags: BMC Mumbai, Bombay High Court, Brihanmumbai Municipal Corporation, High Court granted interim protection, Mahatma Phule Nagar, Saat Rasta in Mumbai Central
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Friday, May 20th, 2011
Hicons Developers is launching Hicons Marina at Yari Road,Varsova- Andheri W Mumbai. Hicons Marina Mumbai displays uncompromising standards of excellence. Hicons Marina has made conscious efforts in design, development and planning, to offer its users a healthy and green lifestyle. Hicons Marina offers world class infrastructure and facilities like Swimming Pool, Jogging Track, Sauna/Jacuzzi, Sun Decks on Every Floor & Fitness Centre. The apartment are positioned on the brink of the Sea View from 1st residential floor & above. Hicons Marina offers 3bhk apartments at varying in sizes 2075 sq. ft.-2520 sq. ft. at a very affordable price 16999 ps. ft.
Hicons Developers Pvt Ltd is an ISO 9001: 2008 accredited organization. They have, within a few years, created a lofty reputation for themselves. Every project they develop displays uncompromising standards of excellence. The Hicons tagline ‘Ecoing Life’ is synonymous with the continuous circle of life. At Hicons, they believe that what they do today will affect generations to come. They have also obtained an ISO 14001: 2004 environmental certification, proving their commitment to a greener healthier environment & OHSAS 18001: 2007 health and safety certification. At Hicons, they combine thoughtful planning, eco-friendly measures, superb quality and the latest technology to create homes that become the talk of the town.
Amenities
- Swimming Pool
- Play Area
- Security
- Intercom
- Club House
- Rain Water Harvesting
Tags: Andheri West, Apartments in Mumbai, Hicons Developers, Hicons Marina, New Projects in Mumbai, Varsova- Andheri W Mumbai, Yari Road
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Friday, May 20th, 2011
Mumbai School Bus Owners’ Association sought to increase the school bus fee by over 40% in the new academic year. SBOA members and other bus owners are planning to meet the transport secretary and government officials on Friday.
Hike in petrol prices to get worse for parents of school-going children. The School Bus Owners’ Association (SBOA) in Mumbai demand to hike the school bus fee has not gone down well with the parents. Many parents are still fighting with school managements about the huge fee hikes in the schools. “School managements increase the fee whenever they feel like. Now, bus owners want to follow suit,” said Rohit Lalan, a parent. “We have no option but to comply with their demand as we need to send our kids to school,” said Lalan who has been fighting against the management of his son’s school over recent fee hike.
Bus owners claim this hike is required because of the increase in petrol prices and the implementation of safety norms pertaining to school buses. “The new norms prescribed by the School Bus Safety Rules have added to our expenses. We need to hire new personnel and make changes in the existing buses,” SBOA president Anil Garg said. “How does the government expect us to raise the money to cover these expenses?”
More News: commonfloor.com
Tags: Bus owners claim hike, Hike in Petrol Prices, Hike the school bus fee, Mumbai, Mumbai School Bus Owners’ Association, SBOA in Mumbai
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Friday, May 20th, 2011
Taking over as the new president of MCHI (Maharashtra Chamber of Housing Industry), Paras Gundecha has stressed the need for an image makeover for the entire developer community and remarked that a code of conduct would go a long way in earning goodwill for the fraternity from all quarters.
The new committee would be keen to ensure that an aggrieved customer comes to MCHI before knocking on the doors of courts. For this, a grievance redressal system would be put into practice,” Gundecha said. MCHI would also work towards increased interaction with the government to resolve all issues impacting the real estate industry and for stepping up contacts with various associations from different sectors for improved communication – and clout – across the Mumbai Metropolitan Region.
While outgoing president Sunil Mantri has formally handed over the charge to Gundecha, Boman Irani of Rustomjee Group will be the new honorary secretary. Taking the grievance redressal mechanism forward, Irani said that the housing body will roll the process by calling for suggestions from both, the members as well as customers.
More News: commonfloor.com
Tags: Before knocking on the doors of court, Come to us before going to court, CREDAI Mumbai, Maharashtra Chamber of Housing Industry, MCHI Mumbai, MCHI New committee, Mumbai, Real estate grievance redressal system
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Thursday, May 19th, 2011
Sahara Group negotiated the Rs 70 crore a year Rent deal for commercial property at Bandra-Kurla Complex. The deal, touted as the highest ever for a commercial property in terms of annual rent.
According to real estate sources, the UP-based Sahara Group negotiated the deal for a lease amount of Rs 225 a sq ft for 2.5 lakh sq ft space in Parinee Cresenzo, a 20-storey commercial project by Parinee Developers, which works out to an annual rent of close to Rs 70 crore. The deal, touted as the highest ever for a commercial property in terms of annual rent. The agreement is expected to be sealed by next week.
Rent deal from Sahara group for commercial property at Bandra-Kurla Complex (BKC), almost Rs 70 crore a year, indicates the demand for office space is still strong. Sahara Group will take over 2.5 lakh sq ft space in Parinee Cresenzo, a 20-storey commercial project by Parinee Developers.
More News: commonfloor.com
Tags: Bandra-Kurla Complex, Bandra-Kurla Mumbai, Mumbai, Mumbai Properties, Mumbai Real estate, Parinee Cresenzo, Parinee Cresenzo building, Parinee Cresenzo Mumbai, Parinee-Sahara deal, Sahara Group
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Thursday, May 19th, 2011
Brihanmumbai Municipal Corporation (BMC) likely to adopt Bihar housing policy, a housing policy initiated by Nitish Kumar’s government in Bihar. Under the new policy, the civic body just notifies the detailed guidelines, according to which the architects are required to plan the new projects. The Bihar pattern will shortly be recommended by the centre to all states for local implementation.
The housing policy initiated by Nitish Kumar’s government in Bihar may well become the benchmark for the BMC Mumbai. The policy, formulated by the Bihar state government, led to the amendment of civic rules governing the approval of new projects.
Under the new policy, the civic body just notifies the detailed guidelines, according to which the architects are required to plan the new projects. There is no need for the developer to even seek the civic body’s formal okay, as long as all the parameters of the project are within the prescribed guidelines,” said SK Singh, joint secretary, ministry of housing & urban poverty alleviation.
More News: commonfloor.com
Tags: Amendment of civic rules, Approval of new projects Mumbai, Bihar housing policy, Bihar pattern, BMC Mumbai, building plan approval, Mumbai Properties, Parameters of the project, Plan the new projects, Prescribed guidelines, state government of Mumbai
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Friday, May 13th, 2011
Under the present laws, the contracts are unilateral and there is no protection against unfair contracts. Often, service providers want consumers to sign on the dotted line even if the terms and conditions are stiff and give little leeway to consumers. The government is set to revamp the Consumer Protection Act, 1986 to provide for acting against unfair terms in contracts which are skewed heavily in favor of service providers or manufacturers.
Soon, telecom operator, bank or real estate developer may not be able to get away with one-sided contracts. Nearly five years ago, the Law Commission had said that in view of the need to protect consumers and particularly to grant protection from the disadvantages of extensive introduction of standard terms of contracts which are one-sided, it has become necessary to evolve general principles regulating unfairness in contracts.
More News: commonfloor.com
Tags: Consumer Court, Consumer Protection Act, Law Commission, One-sided Contracts, protect the weaker party against the stronger, protection against unfair contracts, Real Estate Developers, Service providers or manufacturers, Unilateral contracts
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Friday, May 13th, 2011
Even big corporate entities finding it increasingly difficult to afford space in Mumbai. Cheaper property price in Mumbai suburbs driving MNCs and other corporate groups to the suburbs.
The recent report by a real estate research firm shows that even big corporate entities are finding it increasingly difficult to rent or buy space in the financial capital. Property experts believe that lack of parking space and cheaper property rates are driving MNCs and other corporate groups to the suburbs.
According to Knight Frank, the sale and lease size in the last quarter of 2009-2010 was 2.81 million sq ft, which dropped to 0.88 million sq ft in the same quarter of 2010-11. And the worst thing, the report says, is that CBD Belapur and Nariman Point, the business hubs in the metropolitan, saw nearly no deals. Instead, western suburbs, especially the Andheri-Jogeshwari- Goregaon belt, fared better.
Of the total commercial deals in the last quarter, 63 per cent were struck in the western suburbs, whereas BKC saw a mere six per cent of the total share. The central Mumbai belt, mostly Lower Parel and surrounding areas, retained 22 per cent of the share.
More News: commonfloor.com
Tags: CBD Belapur, Central Mumbai belt, Cheaper property price in Mumbai suburbs, Difficult to afford space in Mumbai, lack of parking space, Lower Parel, MNC Mumbai, Mumbai, Mumbai Properties, Mumbai suburbs, Nariman Point Mumbai, property price in Mumbai suburbs, Real estate in India
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Thursday, May 12th, 2011
Piramal Realty Limited to launch five residential projects in Mumbai at an estimated investment of about Rs 1500 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.
The developer is evaluating 20 projects across Mumbai, Pune and Nashik. Land procurement is at an advanced stage for five large residential projects in Mumbai that are expected to be launched in the next year or so, Jijina said.
We are looking at various segments for development, which include premium residences, premium office spaces, second homes, and low-cost housing as well as the redevelopment space in Mumbai,” he said.
Part of the Rs 17,000 crore that was raised through the sale of Piramal Healthcare Ltd’s branded generics business to Abbott Laboratories would be used to create new businesses, including property development, Piramal Group chairman Ajay Piramal had said in an interview last year.
More News: commonfloor.com
Tags: Land procurement, Mumbai, Mumbai Properties, Piramal Realty Limited, Piramal Realty Limited to launch five residential projects in Mumbai, Property Buying, Residential projects in Mumbai
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Thursday, May 12th, 2011
The Mumbai based real estate developer, Godrej Properties Ltd, signs a development agreement and plans its second residential project in Chembur Mumbai strengthening their presence in Mumbai Real Estate.
Godrej Properties Ltd announced that it has finalized a development agreement with Capsulation Services Private Ltd. The company will develop a residential project in Chembur Mumbai with a saleable area of 1 lakh sq.ft. The project location offers excellent connectivity to all key Mumbai business districts, as well as to the international and domestic airports.
The location also boasts of a well developed social, educational and entertainment infrastructure. The company has built a number of properties in Mumbai over the years in areas like Colaba, Mahalaxmi, Worli, Shivaji Park, Sion, Andheri and Thane.
More News: commonfloor.com
Tags: Godrej Properties, Godrej Properties Second Residential Project in Mumbai, Mumbai, Mumbai Builders, Real estate in India, real estate mumbai, Real estate trend, Second residential property in Chembur
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