Page 32 - Mumbai

Mumbai city registers 12% increase in property registrations in Jan-Sep

Registration of properties in the Mumbai municipal region rose 12 per cent year-on-year to 1,05,608 units in January-September 2024 on better demand, according to Knight Frank. Property registrations in Mumbai city (under BMC jurisdiction) stood at 94,309 units during the year-ago period. "In September 2024, Mumbai surpassed 1,00,000 property registrations, achieving this milestone faster than any other time in the past decade. In 2023, this mark was achieved in October," real estate consultant Knight Frank India said in a statement. This sustained momentum in property transactions stems from the rising economic prosperity and growing preference for home ownership among Mumbai's residents, it added. In September 2024, Mumbai recorded 9,111 property registrations against 10,694 units in the same month last year. Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in bot

Coldplay concert row: BookMyShow COO records statement before Mumbai Police

BookMyShow COO Anil Makhija appeared before officials of the Economic Offences Wing on Monday to record his statement

Union minister Sonowal launches Cruise Bharat Mission from Mumbai port

Union Minister Sarbananda Sonowal on Monday launched 'Cruise Bharat Mission' from the Mumbai port, aimed at boosting the potential of cruise tourism in the country and doubling of cruise passenger traffic by 2029, according to an official release. The mission, which also aims to excel India's vision to become a global hub for cruise tourism and promote the country as the leading global cruise destination, targets three key cruise segments -- the ocean and harbour, river, inland and island. It will be implemented in three phases, beginning October 1, the release said, adding that it will continue till March 31, 2029. Launching the mission on board cruise ship "Empress," Sonowal, who is the Minister for Ports, Shipping and Waterways, said, "the 'Cruise Bharat Mission' is a watershed moment in the revamp of the cruise sector of India." Stating that the government is committed to harnessing the tremendous potential of the Blue Economy of India, Sonowal said that cruise, with its ...

Mumbai property registration falls 14% to 9,100 units in Sep on low demand

Registration of properties in the Mumbai municipal area fell 14 per cent year-on-year in September to over 9,100 units on lower demand, according to Knight Frank. As many as 10,694 units were registered in the year-ago period. In August this year, the registration of properties stood at 11,631 units. "The decline in home registrations in September 2024 can be primarily attributed to the inauspicious days of 'Shraadh', which constituted 12 days of the month in 2024, when traditionally individuals refrain from making significant purchases or engaging in high-value transactions," Knight Frank said in a statement. In 2023, Shraadh was observed from 29 September to 14 October. Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in both primary (fresh) and secondary (re-sale) markets.

Mumbai on high alert amid terror threats, security tightened at sites

Police have been instructed to conduct mock drills at public places and religious sites ahead of the festival season and Maharashtra Assembly polls

Ahead of festivals, police tighten security near religious sites in Mumbai

As part of their anti-terror preparedness ahead of the festival season, Mumbai police have stepped up security near religious sites and other crowded places across the city, an official said on Saturday. All senior police officials have been asked to pay special attention to security arrangements in their jurisdiction. Considering the upcoming festivals and elections, mock drills are being conducted, he said. Police on Friday conducted mock drills at places like Bhaucha Dhakka, Barkat Ali Road, Iskcon temple in Juhu, and Zaveri Bazar to check their security preparedness in the country's financial capital, which has experienced terror attacks in the past. All temples in the city have been asked to remain vigilant and report suspicious activities as a precautionary measure, the official said. In a routine preventive order on Friday, the Mumbai police said subversive or anti-social elements might seek hideouts in residential areas and there is every likelihood of breach of peace and .

UBT Sena MP Sanjay Raut jailed for 15 days in defamation case; gets bail

Uddhav Thackeray's Shiv Sena MP Sanjay Raut was sentenced to 15 days in jail for 'defaming' BJP leader Kirit Somaiya's wife, Medha, over allegations of a Rs 100 crore scam. He was later granted bail

Mumbai rains: 4 dead due to rain-related incidents; schools, colleges shut

Mumbai rains: Heavy rains lashed Mumbai on Wednesday night, causing severe waterlogging and flight diversions; the IMD has issued a red alert for Mumbai

Mumbai's first underground Metro gears up for partial launch in October

Phase one to run on a 12.44 km long stretch between Aarey Depot and BKC

Heavy rains create havoc in Mumbai, disrupt airport ops; IMD issues alerts

Schools and colleges were directed to shut on Thursday following heavy rains in the city

Mt K Kapital raises over Rs 500 cr to invest in realty projects in Mumbai

Alternative investment fund Mt K Kapital on Wednesday said it has raised over Rs 500 crore to deploy in real estate projects in the Mumbai Metropolitan Region (MMR). In a statement, Mt K Kapital said it has raised Rs 500 crore for its maiden fund (Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund) from investors like SBI, ICICI Bank, Famy Care and other HNIs. Over Rs 300 crore has already been committed towards five projects in the Mumbai region by Keystone Realtors (Rustomjee Group). The fund is now exercising its green shoe option and is targeting to do a final close shortly. Favourable macroeconomic conditions are likely to strengthen the real estate market and potentially drive expected IRRs (internal rate of returns) beyond 25 per cent, the company said. Mt K Kapital's core strategy targets quick turnaround residential projects with low equity investments and gives investors a share of project profits from redevelopment assets across Mumbai.

Mindspace REIT to build 1 mn sq ft data centre campus in Navi Mumbai

Mindspace Business Parks REIT will develop data centres for Princeton Digital Group in Navi Mumbai comprising 1 million square feet area. In a statement, Mindspace REIT on Wednesday said it has entered into a strategic partnership with Princeton Digital Group (PDG) to develop the latter's flagship and largest data center campus in India. The data centre will be developed at Mindspace Airoli West project in Navi Mumbai. Under this new agreement, Mindspace REIT will develop three additional built-to-suit data centers, adding a further 1 million square feet to its portfolio. The REIT has already developed 2 data centers for PDG, measuring around 0.63 million square feet. Upon completion, the business park will feature 5 data center buildings. The total data center footprint within the Mindspace REIT portfolio will stand at around 1.65 million square feet. This landmark development spanning around 15 acres will become a part of the larger 50-acre campus ecosystem of Mindspace Airoli

Coldplay tickets sale incident: Akhilesh Yadav seeks right to entertainment

Samajwadi Party chief Akhilesh Yadav expressed concerns over the black marketing of Coldplay tickets, highlighting the challenges to governance and administration

Coldplay fever: Hotels near concert venue charge Rs 5 lakh for 3 nights

Most of the hotels, including five-star properties, near DY Patil Stadium in Navi Mumbai are now fully booked for January 18, 19, and 21

Mumbai's Rs 3 trillion road network to cut travel time to under an hour

Mumbai's traffic woes may become a thing of the past by 2029 with the Ring Road project set to revolutionise the city's commute. Read this detailed report to find out more about it

Indian steel firms under pressure from rising imports, drop in exports

Global steel industry is facing a major threat due to surge in steel exports, particularly from China at predatory prices

'Over 25 thousand buildings in MMR are qualified for redevelopment'

The estimated value of redevelopment in MMR is over Rs 30,000 crore, as per CREDAI-MCHI

WATCH: Hundreds queue up to buy iPhone 16 outside stores in Delhi, Mumbai

Launched earlier this month during Apple's Glowtime event, iPhone 16 series officially went on sale across India on Friday

June-August recorded as India's 2nd-hottest quarter since 1970: Scientists

India experienced its second-hottest quarter from June to August this year since 1970, with over one-third of the country's population enduring at least seven days of dangerous heat, according to a new report by a US-based group of climate scientists and communicators. The report from Climate Central said climate change made high temperatures over three times more likely on 29 days during these three months. "June through August 2024 was India's second-hottest season since at least 1970, when reliable satellite records are available," the report said, adding that India had the highest number of people exposed to climate change-driven temperatures in Southern Asia during this period. More than 20.5 million people endured high temperatures heavily influenced by climate change for at least 60 days, it said. More than 426 million people (about one-third of India's population) faced at least seven days of dangerous heat, with temperatures exceeding 90 per cent of the usual highs for the

Sebi withdraws statement blaming 'external elements' for employee protests

Sebi on Monday retracted its statement that "external elements" were behind employee protests against its work culture. The regulator emphasised it will handle the issues internally