Latest News
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%.
Latest News
Man Detained In Navi Mumbai For Raping A 41-year-old Bank Employee
According to authorities, a guy has been detained in Navi Mumbai, Maharashtra, on suspicion of sexually abusing a bank employee who is 41 years old. This was announced on Sunday.
The police said that a case was filed at the Panvel police station in response to a complaint made by the woman, who claimed to have been raped. It stated that additional investigation was ongoing and that the accused was taken into custody on Friday in accordance with pertinent Bharatiya Nyay Sanhita (BNS) rules.
The defendant in this case was employed by the bank as a driver. A few months prior, he had become friends with the victim and afterwards developed a sexual relationship with her. According to the official, he allegedly took pictures and private films of their interactions without getting her permission and then used them to threaten the woman.
According to him, the accused sexually harassed the victim and then threatened to show her family and bank coworkers the video recordings and her private photos.
The official stated that an investigation is in progress and that the accused reportedly verbally and physically assaulted the victim after she started to reject his approaches.
Latest News
The New Civil Code Court Building In Panvel Has Received Administrative Authority To Add Additional Floors
The New Civil Code Court Building in Panvel is set to have its second and third floors built after receiving administrative approval from the state government. The proposed expansion, estimated to cost Rs. 17.31 crore, is anticipated to increase facilities for the public and legal professionals while also easing present space restrictions.
The Panvel Lawyers Association and MLA Prashant Thakur, who pushed for the extra floors to alleviate the building’s overcrowding, were successful in getting the approval after a protracted battle. MLA Thakur had brought up the difficulties resulting from insufficient court space and facilities in an urgent request to Deputy Chief Minister Devendra Fadnavis.
There are only eight court halls spread across the ground and one additional story of the new facility, which now holds a total of fifteen courts, including Civil Courts, First Class Magistrate Courts, Senior Civil Code Courts, District and High Sessions Courts, and a POSCO Court. Some courts are now functioning out of temporary locations due to a shortage of suitable courtrooms.
The extension will greatly assist attorneys, litigants, and other stakeholders by adding much-needed courtroom space and amenities. The additional floors will increase court operations’ efficiency and assist alleviate the existing overcrowding problem.
The Panvel Lawyers Association, under the direction of President Adv. Manoj Bhujbal, has thanked Ajit Pawar, Devendra Fadnavis, and Chief Minister Eknath Shinde for their assistance. The association and its office bearers have also received praise from MLA Prashant Thakur for their effective efforts in obtaining the required financing and clearance for the project.
Latest News
Housing Regularization Is Finally Coming For Victims Of The Navi Mumbai Project
The victims of the Navi Mumbai local project have endured many hardships and disregard for almost forty years. These people have long suffered from the irregular state of their homes because they gave up their agricultural land to allow for the growth of what is now a bustling city. Their predicament affected their businesses, employment prospects, and ability to apply for scholarships in addition to housing concerns.
Manda Mhatre, the MLA, has persistently pushed for these homes to be regularized. MLA Manda Mhatre has dedicated her life to advocating for the project victims ever since her election to the Legislative Council in 2004 and her successive re-elections to the Belapur Legislative Assembly in 2014 and 2019. In 2015, she made inquiries in the Legislature and pushed for the drafting of regulations to deal with the problem.
Her support through letters sent in March and July of 2022 to Deputy Chief Minister Devendra Fadnavis and Chief Minister Eknath Shinde. MLA Manda Mhatre visited with the Chief Minister and Deputy Chief Minister during Ganeshotsav, and they promised her that a government ordinance will be released shortly.
MLA Manda Mhatre stated, “The issue that has persisted for four decades will be addressed by the upcoming government ordinance.”
-
India2 years ago
As the arrangement with Prashant Kishor falls through Rahul Gandhi has gone overseas again and is uncontactable
-
Fact Check4 years ago
Nidhi Razdan, fake Harvard professorship, and here is the explanation through her blog.
-
Latest News3 years ago
Tata wins Air India with ₹18,000 crore bid
-
Latest News3 years ago
Government has spent ₹9,725 crores on Covid-19 vaccination drive so far
-
Technology3 years ago
BSNL reveals all new 4G plans starting at ₹16
-
Latest News3 years ago
Jharkhand government cuts Petrol price by massive ₹25 a litre but with a catch
-
Navi Mumbai3 years ago
Navi Mumbai civic body raids and tests morning walkers, many found COVID positive
-
Latest News3 years ago
Raj Kundra Gave ₹25 Lakh Bribe to Mumbai Crime Branch to Avoid Arrest