23 Sep 2023

MahaRERA, the real estate regulatory authority in Maharashtra, introduced mandatory certification for registered agents. With a deadline of September 1, 2023, only 7% of the 44,858 agents successfully obtained certification, risking the loss of their registration. Following this, MahaRERA extended the deadline to January 1, 2024, offering agents another opportunity for certification. The program equips agents with comprehensive knowledge of the MahaRERA portal, focusing on roles and responsibilities, and was developed in collaboration with esteemed institutions. This certification initiative aims to enhance professionalism and transparency within the real estate sector, ensuring benefits for both agents and consumers.Read more

23 Sep 2023

Bandra East, a vibrant Mumbai locality, is a captivating blend of tradition and modernity, offering a range of experiences. Its luxury real estate market, exemplified by iconic projects, has remained resilient and in high demand. Celebrities like Salman Khan and Shah Rukh Khan call it home, adding to its allure. In a week, Bandra East saw six property transactions, including standout deals in luxury projects like X BKC and more affordable options like BC Corp Arista. These transactions highlight the diversity of property buyers' preferences, showcasing Bandra East as a dynamic real estate hub with a bright future.Read more

23 Sep 2023

The Indian flexible office space market is set for substantial growth, with its stock expected to surge by 52 percent, reaching 81 million square feet by 2025, according to a report by Vestian. Presently, flexible office operators manage 53.4 million square feet, with India offering over 7.6 lakh seats spread across 1000 centres. Shrinivas Rao, CEO of Vestian, noted that COVID-19 has driven steady growth in India's emerging flexible office sector. The report forecasts that flexible offices will account for approximately 25 percent of total office space occupancy by 2025 as companies adopt hybrid work models, leading to increased demand.Read more

23 Sep 2023

Sir JJ Group of Hospitals, comprising four state-run hospitals in Maharashtra, is slated for extensive repair and renovation projects due to concerns raised by the Maharashtra State Association of Resident Doctors (MARD). The initiatives encompass a comprehensive overhaul of the medicine department at Sir JJ Hospital, repair and maintenance for student hostels, nurses' quarters, and resident medical officer quarters, as well as addressing leakage issues at Cama & Albless Hospital. While these efforts aim to enhance healthcare facilities, concerns about the shortage of hostels for resident doctors persist. Plans for new hostel construction are pending approval, with completion expected in several years.Read more

23 Sep 2023

The Bruhat Bengaluru Mahanagara Palike (BBMP) has taken decisive action against the unauthorized dumping of construction waste and debris in Bengaluru. Stringent measures have been announced, including fines and legal consequences for violators. BBMP officials are tasked with monitoring vehicles transporting construction waste across the city, and vehicles found in violation may face fines and even confiscation. BBMP Chief Commissioner Tushar Giri Nath emphasized the importance of proper waste disposal and highlighted the responsibility of waste generators. The penalties for non-compliance include fines of Rs 10,000 per ton and legal actions under environmental laws. This initiative aims to maintain Bengaluru's environmental integrity and urban aesthetics.Read more

22 Sep 2023

Bollywood actor Ranbir Kapoor has recently leased his luxurious apartment in Pune's Trump Towers for an impressive monthly rent of Rs. 4 lakhs. The apartment was leased to Duroshox, a leading company in suspension solutions, for a 36-month period. The lease agreement includes an annual rent escalation. This move reflects a growing trend among celebrities to invest in premium real estate, with stars like Shahid Kapoor and others, making real estate investment a prominent choice in the industry.Read more

22 Sep 2023

A level-2 fire incident occurred at Benreez Apartment in Mumbai's upscale Worli locality, specifically in the basement area. The incident, reported around 10:39 pm, was quickly categorized as Level 2 at 10:46 pm. Fortunately, there were no casualties, and six individuals were safely evacuated from the building's basement. The Mumbai Fire Brigade (MFB) deployed seven fire engines and eight jumbo tankers to combat the blaze, which was confined to an area of around 4,000 square feet. The presence of plastic items in the basement contributed to the fire's intensity. Investigations are ongoing to determine the cause of the fire, which was extinguished around 1 am after about two hours of firefighting efforts.Read more

22 Sep 2023

Manipal Hospitals has acquired an 84 percent controlling stake in AMRI Hospitals, bolstering its presence in eastern India. This strategic move enhances Manipal's bed capacity, with plans to expand from 9,500 to 12,000 beds within three years. The deal, estimated at around Rs 2,300 crore, aligns with Manipal's goal of becoming the dominant healthcare chain in the region. For the Emami Group, divesting the majority of its AMRI Hospitals stake allows a sharper focus on core businesses. The deal faced complexities and legal disputes but underscored Manipal Hospitals' growth ambitions and commitment to addressing the healthcare needs of eastern India.Read more

22 Sep 2023

Mumbai's housing market remains robust, contributing 40% to India's residential sales. After a strong recovery in 2022, residential unit launches surged by 183%. The trend is set to continue, with projections of residential sales exceeding INR 1 lakh crore in 2023 and potentially reaching INR 2 lakh crore by 2030. While mid-segment housing dominates, there's a growing interest in upper mid and premium segments. Infrastructure developments are set to improve connectivity and public transportation, reducing travel times by 50% in the next five years. These efforts also aim to increase public transport usage from 65% in 2016 to 75% in 2030, promoting sustainability.Read more

21 Sep 2023

The iconic bungalow in Mumbai's Juhu neighborhood, which belonged to the late Bollywood actor Dev Anand, is set to make way for a 22-storey tower. After over 40 years of housing the actor's family, the property was reportedly sold to a real estate firm for an estimated Rs 350-400 crores. Dev Anand's children, who have settled in various locations, found it challenging to maintain the large property, leading to the decision to sell. The family has a history of investing in real estate, with the proceeds from the sale of Anand Studios and other properties being reinvested in residential flats in Mumbai. Mumbai's real estate market has long attracted Bollywood celebrities for investment purposes, making it a lucrative choice for wealth preservation.Read more