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According To A Report, Navi Mumbai Had A Maximum Rental Hike Between April And June
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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Navi Mumbai Police Arrest African National With Rs 1 Crore Worth Of Cocaine In Ulwe
The Anti-Human Trafficking Unit (AHTU) of Navi Mumbai Police arrested Jeorge Ocante DaSilva, a 35-year-old native of Guinea, on Monday for possessing 410 grams of cocaine, allegedly intended for illegal sale. Acting on a tip-off, API Alka Patil of the AHTU led a raid at RM Heights Building in Ulwe, where DaSilva was found in possession of the narcotics.
Around 2:30 p.m. on October 28, officers discovered 410 grams of cocaine, valued at approximately Rs 1,02,50,000, hidden in DaSilva’s bedroom. Authorities also seized a mobile phone, a black Tabata weighing scale, scissors, plastic packaging bags, and a sky bag, bringing the total seizure value to Rs 1,02,55,610.
An FIR was filed at Panvel City Police Station under Sections 8(a) and 21(a) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act. Dasilva was presented in court and remanded to police custody until October 31, 2024. Investigations are ongoing, with the Crime Branch seeking potential accomplices and sources of the narcotics. Notably, Dasilva has a prior NDPS case registered at Nahar Police Station in Mumbai.
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Taloja Society Chairman Detained For Allegedly Abusing Residents And Objecting To Diwali Decorations
The chairman of a housing society in Taloja Phase One has been detained by Taloja police following allegations of verbal abuse toward residents, including women, and objections to Diwali lighting in the complex. The incident occurred on Tuesday night, sparking outrage among residents.
According to the police, the chairman is accused of abusing a woman with intent to insult her modesty, provoking a breach of peace, and engaging in criminal intimidation. A formal complaint was filed, and the chairman was promptly taken into custody.
The situation intensified after a video of the incident went viral on social media platform X (formerly Twitter), showing a group of men, allegedly from the housing society, verbally abusing residents and threatening to halt Diwali decorations. The video received widespread attention, with users expressing shock over the treatment of residents.
Police officials confirmed that the chairman’s detention is part of an ongoing investigation into the incident. Residents are awaiting further action as authorities work to address the disturbance and ensure the safety of the community amid Diwali festivities.
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Thane Sees Surge of Nomination Filings for 2024 Vidhan Sabha Election
The final day for filing nominations for the 2024 Vidhan Sabha General Election witnessed a surge of candidates in Thane district, with a total of 281 applications submitted across 18 assembly constituencies. This high turnout signals a competitive race for seats in the upcoming election.
Among the nominees, 114 candidates represent various political parties, while 167 have filed as independents, reflecting a diverse array of participants aiming to represent Thane’s voters. Nominations were filed throughout the day with election decision officers at each constituency, marking an essential step in the electoral process.
Collector and District Election Decision Officer Ashok Shingare announced that the scrutiny of these nomination forms is scheduled for October 30, 2024. Following this verification process, candidates who wish to withdraw their names from the race may do so until November 4, 2024.
As the election date approaches, Thane’s political landscape appears more dynamic than ever, with a record number of candidates ready to contest the assembly seats, making for an engaging electoral season for voters and candidates alike.
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