News

Ashish Gumashta, the dynamic managing director of strategic initiatives at Motilal Oswal Financial Services, has bought a luxurious apartment in the coveted Bandra locality of Mumbai for around 36.19 crore rupees.

Maharashtra buys the famous Air India building at Nariman Point, Mumbai, for INR 1,601 crore. New state development and strategic planning begin with this historic purchase.

Many new neighbourhoods near IT centres like Whitefield and Sarjapura in Bengaluru are experiencing a water shortage. A severe water scarcity plagues the city as summer approaches. Residents, particularly in high-rise buildings, are anxiously seeking water. The situation is exacerbated by dry wells.

In Mira Bhayandar, Mumbai 24 ancient wells, some over a century old and others buried by builders, are set for revival with a ₹50 crore budget. This initiative aims to address the increasing water scarcity faced by the growing population.

Four girders for the bridge connecting Worli to the Coastal Road and Bandra-Worli Sea-Link will be installed in March, with the entire bridge expected to be operational by May, 2024. This step is part of the larger Mumbai Coastal Road Project (MCRP), aimed at enhancing connectivity in the region.

Vasai-Virar City Municipal Corporation has introduced an online system for property tax payments and accessing 51 different types of documents. This move greatly benefits residents by eliminating the need to visit the municipal office repeatedly, saving time and effort.

GV Research Platform (GVRP), a major bio-pharma contract research organisation, has leased a 130,000-square-foot Hyderabad R&D facility from Rx Propellant, a life sciences infrastructure supplier. The 10-year, Rs. 162 crore agreement is India's biggest life sciences real estate deal.

Southern Mumbai's new Eastern Freeway from Orange Gate to Grant Road will be built by the Municipal Corporation of Mumbai. Transport times and connections will be greatly reduced by this 5.5-kilometer corridor. Project completion is scheduled in three and a half years by J. Kumar Infra.

With ambitious aspirations to host an F1 motor racing circuit in its busy worldwide Finance Centre, GIFT City is on the fast road to become a worldwide sports powerhouse.

Given the large number of stalled housing projects, the SWAMIH fund, which finances their completion, has demonstrated potential but has scalability issues. Despite completing over 26,000 residences and recovering a major share of investor funds, it needs to expand its reach and efficiency.

Dedicated Monitoring Unit RequestThe Ministry of Housing should create a body to manage all state Real Estate Regulatory Authorities, according to a national homebuyers association. This suggestion was presented at a meeting with the Ministry of Housing and Urban Affairs.

February 2024 saw record property registrations in Mumbai's real estate market. Under the Brihanmumbai Municipal Corporation's (BMC) authority, 12,040 units were registered by 8 p.m. on Thursday, with predictions of a little rise.

Magicbricks has introduced MagicHomes, a fresh way to help you find the latest housing projects across India's big cities. Whether you're looking in Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, Pune, Ahmedabad, or Chennai, MagicHomes is here to make your search easier.

In Mumbai, a big project to connect two important bridges, Gokhale and CD Barfiwala Flyovers, is facing delays. The city's officials have shared that finishing this task might take until the end of the year. This news means more traffic jams for people driving on SV Road, especially when it rains.

Awfis, India's leading flexible workspace provider, opened its largest facility in Bhubaneswar, Orissa, to promote creativity and cooperation. The breadth of Awfis's network makes it the leader in flexible workplaces, and its expansion development and potential in Tier II cities of India.