MMR Bulletin Nov-Dec-2015

Q: Any Infrastructure upgrades in Nov-Dec-2015???

Aneek Das,

17th December 2015

Real estate News in Mumbai

new launches in mmr

major deals in mmr

infrastructure upgrades in mmr

regulatory updates in mmr

industry buzz in mmr

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Replies (3)

Hi Ravindra,
As per the latest news, Aditya Birla Real Estate Fund recently invested about Rs 90 crore in buying apartments in a luxury residential project, Signia Isles by Sunteck Realty Ltd in BKC. With this investment, the Rs 1100 crore fund
deployed its entire corpus across 13 transactions.

Padma G, Mumbai

17th December 2015

Comment

Thanks Padma,
And i heard that the Union ministry of civil aviation has framed new rules for height restriction of buildings in airport’s vicinity. This is expected to be a major blow to builders in Mumbai. What is your opinion on it?

Ravindra Singh,

17th December 2015

Ur Welcome Ravindra,
This is quite right and this new rules now consider as the start of the runway as the point to calculate height restrictions for new buildings according to officials of Airports Authority of India (AAI). As per earlier rules, building height permissions around the airport depended on the height of other existing structures in the concerned area.

Padma G, Mumbai

17th December 2015

Hi all,
I heard that the development authority has floated tenders to build flyovers to reduce traffic congestion at Kalanagar junction by 2019. Is it true?

Ravindra Singh,

17th December 2015

Comment

Hi Ravindra,
Yes, it is true and flyovers will be constructed in two phases. In Ph-1, a two-lane flyover from Bandra-Worli Sea Link to Bandra Kurla Complex (BKC) will be constructed. In Ph-2, another two-lane flyover will be constructed from Sion-Dharavi link road to BKC-Kherwadi flyover. The two phases together will cost about Rs 227 crore.

Sashidharan,

17th December 2015

Is there any new launches In MMR In Nov-Dec 2015?

Ravindra Singh,

17th December 2015

Well Ravindra,
Godrej Properties recently launched its flagship project in Vikhroli. The project is called "The Trees" and has 374 apartments in its ph-1. It is spread across 34 acres and is a mixed-use development project. Interestingly, the developer already sold 300 flats worth over Rs 700 crore in just one week in its launch date 7th December.

Sashidharan,

17th December 2015

Thanks Sashidhran,
Is there any major deals happened in the month of Nov-Dec-2015?

Ravindra Singh,

17th December 2015

Hi Aneek,
According to the Mumbai metropolitan commissioner, Delhi Metro Railway Corporation (DMRC) signed an agreement with the Mumbai Metropolitan Region Development Authority (MMRDA) on December,4 to execute the first phase of the Dahisar-Charkop-Bandra-Mankhurd corridor. MMRDA will now be inviting bids for the project.

Jerome Fernandez, Mumbai

17th December 2015

Comment

Right Jerome and on the same date the Mumbai Trans-Harbour Link (MTHL) received an in-principle approval from the Maharashtra forest department.

While on December, 5th a MoU was signed between the Navi Mumbai Municipal Corporation (NMMC) and European Business and Technology Centre (EBTC) during the launch of Navi Mumbai (South) Smart City. The smart city will be developed by CIDCO with an investment of approximately Rs 53,000 crores, while EBTC will provide support in the areas of capacity building, access to European Union (EU) policies and frameworks, and introduction to EU funding agencies.

Sashidharan,

17th December 2015