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Property News
Realty sales in Mumbai lowest of six major cities Date: Mar 12 2012
The sales velocity in the city’s property market has slowed down to a level where it is now the lowest of the six major cities across the country. Over the one year leading to December 2011, residential sales in Mumbai have dropped by 28 per cent. According to the third financial quarter report by the real estate research agency Liases Foras, real estate sales in the Mumbai Metropolitan Region (MMR) have plummeted steadily. The city and its suburbs are now left with a huge inven...
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Builder to pay for not giving amenities Date: Mar 10 2012
Mumbai: In a relief to nine residents of a co-operative housing society in Wadala, the Central Mumbai Consumer Dispute Redressal Forum has passed an order directing a builder to pay over Rs 1.5 lakh to each occupant for failing to provide the promised amenities. EMG Green Developers, a local builder, constructed a 10-storey building in 2005 and promised a few basic amenities with all the flats occupied. He also asked the buyers to pay other development charges each year. However, on c...
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