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According To A Report, Navi Mumbai Had A Maximum Rental Hike Between April And June

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According to sources, the satellite city of Navi Mumbai saw the biggest increase in average rent, rising 6.2% quarter-over-quarter (QoQ). Hyderabad and Ahmedabad saw the biggest increases, at 4.2% and 4%, respectively. According to the survey, rental rates in 13 major Indian cities increased by 2.6% and 14.6% YoY, respectively, to an average of Rs 33.3 per sq ft per month.

From Rs 28.99 per square foot per month in Q1 2024 (Jan-Mar 2024) to Rs 30.78 per sq foot per month in Q2 2024 (Apr-Jun 2024), that was the average rent in Navi Mumbai. The rental demand during this time increased significantly by 14.8% QoQ, according to the data, after increasing by 16% QoQ in the preceding quarter. However, strong absorption rates caused the supply to decline 2.2% QoQ throughout the mapped cities, which raised rents.

The cities of Thane (Rs 29.84 per sq ft per month), Delhi (Rs 33.72 per sq ft per month), and Mumbai (Rs 82.28 per sq ft per month) have the highest rentals. According to the survey, the average monthly rent in Greater Noida is Rs 14.52 per square foot, while in Noida it is Rs 20.10, and in Bengaluru it is Rs 28.

A Researcher explained the dynamics, saying, “We anticipate continued growth in both rental demand and rents in the short to medium term with economic activity peaking.” Furthermore, as the stock of properties under development approaches completion, the supply of rental apartments is anticipated to improve. In general, the current environment encourages more involvement in the rental market and offers landlords and investors a potential opportunity.

Residential real estate is still a profitable investment industry due to its high rents and strong demand for rentals. The survey noted that investments in Ahmedabad, Pune, and Kolkata showed the greatest rental yields (3.8%) despite the fact that the average rental yield across the top 13 cities is 3.6%.

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As CIDCO Chairman, Maharashtra Legislator Sanjay Shirsat Takes Control

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On Thursday, September 19, Sanjay Shirsat, the Legislative Assembly (MLA) representative from Aurangabad West, assumed the role of Chairman of the City and Industrial Development Corporation of Maharashtra Ltd (CIDCO). He assumed command of his position in Navi Mumbai’s CIDCO Bhavan.

Present at the event were Chief Vigilance Officer Suresh Mengde, Joint Managing Directors Shantanu Goyal, Ganesh Deshmukh, and Dilip Dhole, as well as Vice-Chairman and Managing Director Vijay Singhal of CIDCO.

Shirsat made the following statement during his speech: “CIDCO has been essential to Maharashtra’s progress to date. My main goal will be to keep CIDCO’s standing as a preeminent authority on urban planning and development while making sure that important projects like the mass housing project, NAINA (Navi Mumbai Airport Influence Notified Area) City, and the international airport are completed on schedule. Making judgments that will help the general public and the Navi Mumbai residents impacted by the project will also be my top responsibility. The goal of CIDCO to provide reasonably priced housing to the general public will soon be accomplished.”

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The Swachh Bharat Mission Cleanliness Drive Is Launched By Minister Ravindra Chavan

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PWD Minister Ravindra Chavan launched a cleanliness campaign as part of the Swachh Bharat Mission in Kumbharkhan Pada, Dombivli (W), urging collective efforts to maintain clean surroundings. The campaign, running from September 18 to October 2, 2024, focuses on enhancing municipal area cleanliness.

At the event, Additional Commissioner Harshal Gaikwad, former Municipal Member Vikas Mhatre, Deputy Commissioner Atul Patil, and local citizens, including NSS students, participated. Attendees took a cleanliness oath and enjoyed a street play emphasizing the importance of cleanliness.

Since the launch of Prime Minister Narendra Modi’s Swachh Bharat Mission in 2014, Kalyan Dombivli Municipal Corporation has been actively involved in cleanliness initiatives. After Anant Chaturdashi, they launched a campaign focusing on cleaning Ganesh Ghat and nearby areas. Minister Chavan, alongside Municipal Commissioner Dr Indu Rani Jakhar and Solid Waste Management Department employees, led a cleaning drive at Kumbharkhanpada Ganeshghat. They also planted indigenous trees under the Ek Ped Maa Ke Naam initiative.

The campaign began at Durgadi Ganesh Ghat, Kalyan (W), where Dr Jakhar administered a cleanliness oath. She urged citizens to participate actively in the fortnight-long campaign, which includes various awareness activities. Deputy Commissioner Atul Patil introduced the program at both locations and brand ambassador Dr Prashant Patil, along with other officials, contributed to the event.

This campaign aims to inspire public engagement in maintaining cleanliness and environmental sustainability.

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Campaign ‘Swachhta Hi Seva’ Is Launched In Thane By Chief Minister Eknath Shinde

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Chief Minister Eknath Shinde officially began the Thane Municipal Corporation’s (TMC) Swachhta Hi Seva campaign at Parsik Retibandar Visarjan Ghat on Tuesday, September 17. The Chief Minister encouraged attendees to maintain high standards of cleanliness in their daily lives and stressed the value of cleanliness for health throughout the occasion.

Chief Minister Shinde made a personal commitment to uphold cleanliness during the event, promising not to litter and to make sure others do the same. In addition to promoting the adoption of appropriate trash disposal techniques, he pledged to separate waste into wet and dry categories. He also promised to assist the Swachh Bharat Mission by minimizing the usage of plastic and thermocol, with the goal of making Thane and the country as a whole free of these materials.

Members of Parliament Naresh Mhaske, Saurabh Rao, Additional Commissioners Sandeep Malvi and Prashant Rode, Deputy Commissioner Manish Joshi, Shankar Patole, Health Officer Dr Rani Shinde, and Executive Engineer Sudhir Gaikwad were present at the opening event.

Chief Minister Shinde gave away saplings to residents as part of the Ek Ped Maa Ke Naam campaign. From September 17 to October 2, the nation will be enthralled with the Swachhta Hi Seva campaign, which will include public awareness campaigns, cleanliness drives, and the installation of selfie stations with themes like Green Thane, Swachhta Karmchari, and Ek Ped Maa Ke Naam. The goal of the program is to increase public awareness and participation in cleanliness after October 2.

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