The Maharashtra government has decided to provide permanent houses to as many as 4,000 families who have been living in MHADA transit camps for decades. According to the new policy,transit camp residents would be allowed to move into newly built 225 square feet and 300 square feet flats redeveloped by the Maharashtra Housing and Area Development Authority (MHADA) in transit camps on ownership basis at Colaba in south Mumbai,suburban Bandra and Mulund. The decision would end uncertainty among these residents. Hundreds of tenants have been residing in transit camps as redevelopment of their buildings was not taking place either due to reservation issues or litigation, Minister of State for Housing Sachin Ahir said. He added that the entire process would be transparent to avoid fraudulent allotments. We will publish the list of the houses owned by us and residents would be given an option to choose from them, the minister said. The allotments would be decided over various factors such as the year of vacating old premises and the size of their original tenements.
Office space absorption to reach 132 mn sqft by 2017: Report
Bullish on the revival of the economy after general elections,real estate consultancy firm Cushman & Wakefield expects nearly 132 million sqft of office space,across the eight major metros,to get absorbed by 2017. However,the report said the current year (2013) will see a 26 per cent fall in office space absorption to around 22.5 million sqft over the past year due to the ongoing slump in the economy. The supply of office space between 2013 and 2017 in the top eight cities-Delhi-NCR,Mumbai,Bangalore,Chennai,Hyderabad,Ahmedabad,Kolkata,and Pune is expected to be around 143 million sqft. Of this 143 million sqft,around 90 million sqft are currently under various stages construction and is expected to get completed by 2015,the report said.
Supertech raises R100 cr from ReliancePMS for realty projects
Realty firm Supertech has raised Rs 100 crore from Reliance PMS for development of housing projects in the national capital region. Supretech has been raising funds through private equity players to fund its expansion plan. In April,the company had tied up with private equity firm Xander to raise Rs 280 crore for its upcoming township project in Gurgaon. Last year,it had raised Rs 100 crore from Walton Street Capital for mixed-use project Supernova at Noida. Reliance PMS (Portfolio Management Services) is a part of Reliance Capital Asset Management Ltd.