04 Jun 2024

Maha Mumbai Metro (MMMOCL) has established a state-of-the-art Monsoon Control Room to safeguard the seamless operation of Metro and Monorail services during the upcoming monsoon season. The control room is equipped with cutting-edge technology, including wind velocity anemometers and CCTV cameras, enabling real-time monitoring and risk mitigation. MMMOCL has also collaborated with the MCGM disaster management department, setting up a dedicated hotline for emergency coordination. With meticulous pre-monsoon maintenance, train overhaul preparations, and track inspections, the organization is committed to providing a consistently smooth and secure journey for Mumbaikars, even in challenging weather conditions. Passenger safety and satisfaction remain the top priorities, as MMMOCL stands ready to increase Metro frequency if needed.Read more

04 Jun 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) has set up a 24-hour Control Room to address various issues during the upcoming monsoon season, from June to September 2024. The Control Room aims to minimize inconveniences caused by factors such as uprooted trees, waterlogging, accidents, and traffic problems. With a team of over 300 engineers and 19 emergency response teams, the MMRDA has made comprehensive preparations, including installing water pumps, repairing drains, and coordinating with local authorities. The authority has also taken safety measures for its projects, such as the Atal Setu bridge and the Surya water supply project, to ensure continuous access and uninterrupted service.Read more

04 Jun 2024

A technical issue on the Mumbai Western Railway network has led to significant delays in local train services, forcing commuters to turn to the Mumbai Metro for their travel needs. This sudden surge in metro ridership has resulted in unprecedented overcrowding at several stations along Lines 2A and 7, particularly at Borivali, Kurar, and Rashtriya Udyan. The Mumbai Metropolitan Development Authority (MMRDA), which operates the metro, has responded by adding extra train services to alleviate the rush. This immediate action aims to provide relief to commuters affected by the disruption on the Western Railway network.Read more

03 Jun 2024

Chennai's real estate market is heating up, and Certus Capital has seized the moment by investing INR 125 crore (USD 15.6 million) in a prime residential development via Earnnest.me. Launched in February 2022, Earnnest.me offers secure debt investment opportunities, allowing individuals to invest in real estate with reduced risk and complexity. Investors in this project can expect a fixed annual return of 15%, with principal protection through the project's cash flow. Developed by Casagrand, a prominent South Indian developer, the project further enhances investor confidence. Certus Capital aims to invest INR 1,000 crore through Earnnest.me by FY25.Read more

03 Jun 2024

Aundh, in western Pune, Maharashtra, is a rapidly growing residential and commercial area known for its infrastructure and proximity to IT hubs. It offers diverse housing options, from high-rise apartments to bungalows, along with educational institutions, healthcare facilities, shopping malls, and recreational spaces. In April, Raagdari Apartments, Shriramnagar Apartment, and Anand Park Aundh each closed three deals, with most transactions being resales. Prices ranged widely, with Marvel Sindh Society at INR 28 crores and budget options like Shriramnagar Apartment at INR 6 lakhs. Aundh's varied apartment sizes and prices cater to diverse buyer preferences, reinforcing its desirability.Read more

03 Jun 2024

UAE-based smart-rental startup Colife has expanded into the Asian market, launching operations in Hong Kong in May 2024. Colife, established in 2022, revolutionizes rental markets and plans to reach 10 major cities by 2028. Unlike its focus on apartment rentals in Dubai, Colife targets co-living spaces in Hong Kong, offering fully furnished rooms and common areas in prime locations. With an initial investment of USD 350,000, Colife aims to create over 100 co-living units this year, tapping into Hong Kong's rental market to provide stylish, community-oriented housing for young professionals and digital nomads.Read more

31 May 2024

Mavjibhai Shamjibhai Patel, promoter of diamond company Kiran Gems, has purchased a 16,000 square foot apartment in Mumbai's luxury Oberoi 360 West project for INR 97.4 crore. Kiran Gems had recently relocated their headquarters from Surat to Mumbai. Located in upscale Worli, the apartment spans 14,911 square feet with additional expandable area. It includes nine parking slots. South and central Mumbai have seen numerous high-value property deals in recent years involving industrialists, corporate executives and celebrities due to the areas' prime sea-facing locations and most expensive apartments. With Patel's purchase, Oberoi 360 West continues its reputation as one of Mumbai's most luxurious residential projects housing prominent business families and individuals.Read more

31 May 2024

Creditors of the defunct Go First Airlines are set to auction a prime 94-acre land parcel in Thane, near Mumbai, with a reserve price of approximately INR 1,960 crore. The move follows a Delhi High Court ruling allowing lessors to seize the airline's planes. The land, previously held as collateral by the Wadia group, is expected to fetch between INR 1,200 crore and INR 2,500 crore considering its development potential. Advertisements for the auction will be published soon, giving buyers 60 days to submit bids. Creditors aim to recover part of the airline's INR 50,000 crore debt.Read more

30 May 2024

Signature Global, a leading name in affordable housing, has expanded its footprint in Gurugram by acquiring 14.65 acres in Sector-37D through its subsidiary, Signatureglobal Homes. This addition brings their total developable area in the city to approximately 21.7 million square feet. In FY24, Signature Global sold over 4,600 units, generating a sales value of INR 72.7 billion - a 112% increase from the previous year. Their collections also surged by 62%, reaching INR 31.1 billion. With estimated revenue recognition of INR 120 billion over the next three years, Signature Global is well-positioned to meet Gurugram's growing demand for affordable housing.Read more

30 May 2024

According to a report by Cushman & Wakefield, Chembur, a suburban micro-market in eastern Mumbai, has undergone a remarkable transformation in its real estate landscape. Once considered a mid-end residential area, Chembur has now emerged as a premium destination, witnessing a surge in supply and a narrowing of the pricing gap with established markets like Bandra, Worli, and Lower Parel. The area's average sales have increased significantly, and property rates have seen substantial appreciation, driven by infrastructure developments that have boosted connectivity and appeal. Chembur's affordability compared to other prime areas, combined with its improved accessibility and well-developed social infrastructure, have made it an attractive option for homebuyers and investors. The growth in Chembur's real estate market has also spurred development in neighbouring micro-markets, solidifying its position as a focal point for growth in the eastern region of Mumbai.Read more